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Question 1 Oodie Ltd acquired all the shares of Scope Ltd for $60,000. At acquisition date, the statement of financial position of Scope Ltd shows:
Question 1 Oodie Ltd acquired all the shares of Scope Ltd for $60,000. At acquisition date, the statement of financial position of Scope Ltd shows: Cash Trade receivables PP&E Goodwill Notes Payable $ 7,000 19,000 23,000 11,000 9,000 Scope Ltd recorded all assets and liabilities at fair value except for PP&E, which had a fair value of $31,000. Conduct an acquisition analysis and the journal entries required on the consolidated statement. Question 2 Dan Ltd acquired all the shares in Lad Ltd. At acquisition date, the building recorded in Lad Ltd.'s financial statements had a cost value of $124,000 and accumulated depreciation $62,000. The fair value of Lad Ltd.'s buildings on acquisition date was $81,000. Tax rate is 30%. What is the business combination valuation entry recognised at Dan for the building at acquisition date? Question 3 Tam Ltd acquired all the shares in Sale Ltd for $570,000 cash consideration on 1 July 2022. All of the identifiable net assets were recorded at their fair value in the books of Sale Ltd except for a contingent provision for loan guarantee which was, at acquisition date, not recorded in Sale Ltd financial statements. The contingent provision for loan guarantee had a fair value of 14,000. The tax rate is 30%. What is the business combination valuation entry at 1 July 2022 for the provision of loan guarantee
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