FINANCIAL ACCOUNTING
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ISBN: 9781259964947
Author: Libby
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Euro in purchases Aldi Company. The statement of financial position of Aldi Company as of December 31, 2021 was as follows
Aldi Company
Statement of Financial Position
Assets
Land
Machinery
Inventory
Cash
Total
BD 175,000
50.000
80.500
52.500
BD 358.000
Equity and Liables
Share Captal-Ordinary
Retained Earnings
Notes Payable
Bonds Payable
Total
BD 115,000
133,000
20,000
90.000
BD 350.000
Euro and Aldi agreed that the fair value of inventory was BD85,000, land was 80210,000 and machinery was BD52.500. All other assets and sabemes tar
value amounts equal amounts reported on the statement of financial position. Euro paid BD400.000 cash to purchase Aldi
Required:
1) Prepare the journal entry for Euro Inc to record the acquisition.
2) in December 31, 2022, assume that the carrying amount of net assets including goodwill is 80515.000. Prepare the necessary journal entry, given that
the recoverable amount is BD490,000
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Euro In purchases Aldi Company. The statement of financial position of Aldi Company as of December 31, 2021 was as follow
Aldi Company
Statement of Financial Position
Assets
Land
Machinery
Inventory
Tot
DO 175.000
50.000
10.000
80.250.000
Equity and Liables
Share Capal-Ordinary
Ratings
Notas Payable
Sonds Payable
Total
80 115.000
133.000
20.000
90.000
DD.218.999
Euro and Aidi agreed that the fair value of inventory was BD85.000 land was BD210.000 and machinery was BD52.500. All other assets and liabilities tair value amounts equal amounts reported
on the statement of financial position Euro paid BD400,000 cash to purchase Ald
Required:
1) Prepare the journal entry for Euro Inc to record the acquisition
2) in December 31, 2022 assume that the carrying amount of net assets including goodwill is BD515,000 Prepare the necessary journal entry given that the recoverable amount is BD490,000
For the press LT-Cor ALTH
T YAGO 5
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