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QUESTION 1 ( 3 0 Marks ) East Wave Ltd acquired 2 2 4 , 0 0 0 ordinary shares in Zaire Ltd on 3
QUESTION Marks East Wave Ltd acquired ordinary shares in Zaire Ltd on June The following represents the abridged statements of the Financial Position of the two companies on that date. tableAssetsEast Wave LtdZaire LtdNoncurrent,Property plant, and equipment,Investment in Zaire Ltd at fair value,Loan Zaire LtdCurrent assets,InventoryTrade and other receivables,Cash and cash equivalents,,Total Assets,Equity and LiabilitiesTotal Equity,Ordinary shares @ cRetained Earnings,Other components of equity,Noncurrent liabilities,LoanEastWave LtdDebenturesCurrent liabilities,Trade and other payables,Bank Overdraft,Total Equity and Liabilities, Required: Prepare the proforma consolidation journal entries for the year ended June Marks Prepare the consolidated statement of the financial position of East Wave Ltd group as at June Marks Comparatives are not required Calculate the amount goodwillgain from bargain purchase if the consideration paid for the acquisition of Marks Zaire Ltd was R
QUESTION
Marks
East Wave Ltd acquired ordinary shares in Zaire Ltd on June The following represents the abridged statements of the Financial Position of the two companies on that date.
tableAssetsEast Wave LtdZaire LtdNoncurrent,Property plant, and equipment,Investment in Zaire Ltd at fair value,Loan Zaire LtdCurrent assets,InventoryTrade and other receivables,Cash and cash equivalents,,Total Assets,Equity and LiabilitiesTotal Equity,Ordinary shares @ cRetained Earnings,Other components of equity,Noncurrent liabilities,LoanEastWave LtdDebenturesCurrent liabilities,Trade and other payables,Bank Overdraft,Total Equity and Liabilities,
Required:
Prepare the proforma consolidation journal entries for the year ended June
Marks
Prepare the consolidated statement of the financial position of East Wave Ltd group as at June
Marks
Comparatives are not required
Calculate the amount goodwillgain from bargain purchase if the consideration paid for the acquisition of
Marks
Zaire Ltd was R
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