Question
Question 3 Pare plc acquired 75% of the shares of Banan plc for $ 90,000 cash on 1 January 2010. At that date, the fair
Question 3
Pare plc acquired 75% of the shares of Banan plc for $ 90,000 cash on 1 January 2010. At that date, the fair value of net assets of Banan plc was $80,000. Banan plc had a profit of $60,000 for the year ends 31 December 2010. Assume that Pare sells its entire 75%% stake in Banan plc for 130,000 on 31 December 2010.
Solve the question in details as we took in class and then answer the questions
- What is the worksheet Journal Entry for the group that should be recorded upon the sale of the entire 75% stake in Banan on 31 December 2010?
- What is the journal Entry that the Parent Company Pare should record upon the sale of the entire 75% stake in Banan on 31 December 2010?
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Cost And Management Accounting An Introduction
Authors: Colin Drury
5th Edition
1861529058, 978-1861529053
