Assets and Liabilities of Davis Ltd Assignment | Top Universities
Important: The file should be opened in Excel
The assignment must be typed, use Arial font, 12, to avoid plagiarism, make sure you do proper referencing, a WORD format file soft copy to be submitted in Turnitin before the due date. Please ensure you provide
your ID numbers and full name on the first page. Late assignments will be penalized, 5%of total available marks deduction per day.
All the identifiable assets and liabilities of Davis Ltd were recorded at amounts equal to their fair values at acquisition date except for the following;
For the following case provide all related; a) calculations b) accounting standards c)
related journal entries d) relevant explanations
1- Prepare the acquisition analysis at the acquisition date.
2- Prepare the business combination valuation entries and pre-acquisition entry at acquisition date.
3- Prepare the journal entry to recognize NCI at the acquisition date.
4-Prepare the consolidation worksheet entries on 30 June 2020. Assume a profit for Davis Ltd for the year ended 30 June 2020 of $29000.
5- Explain how step 1 to 4 will change if the full goodwill method is used. Get Accounting homework help today