Same question please help me fast BurcesHelpEuro in purchases Aldi Company. The statement of financial position of Aldi Company as of December 31, 2021 was as followsAldi CompanyStatement of Financial PositionAssetsLandMachineryInventoryCashTotalBD 175,00050.00080.50052.500BD 358.000Equity and LiablesShare Captal-OrdinaryRetained EarningsNotes PayableBonds PayableTotalBD 115,000133,00020,00090.000BD 350.000Euro 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 tarvalue amounts equal amounts reported on the statement of financial position. Euro paid BD400.000 cash to purchase AldiRequired: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 thatthe recoverable amount is BD490,000 Resourcesam HelpmorningEuro In purchases Aldi Company. The statement of financial position of Aldi Company as of December 31, 2021 was as followAldi CompanyStatement of Financial PositionAssetsLandMachineryInventoryTotDO 175.00050.00010.00080.250.000Equity and LiablesShare Capal-OrdinaryRatingsNotas PayableSonds PayableTotal80 115.000133.00020.00090.000DD.218.999Euro 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 reportedon the statement of financial position Euro paid BD400,000 cash to purchase AldRequired:1) Prepare the journal entry for Euro Inc to record the acquisition2) 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 BD490,000For the press LT-Cor ALTHT YAGO 5

Date Account title Debit Credit 31 December 2021 Land BD210,000 Machinery BD52,500…

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 B0.358.000 Equity and Liabetes Share Captal-Ordinary Retained Earnings Notes Payable Bonds Payable Total BD 115,000 133,000 20.000 90.000 B0.350.000 Euro and Aldi agreed that the fair value of inventory was 8085,000, land was 80210,000 and machinery was B052.500 AB other assets and Sabines 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 80490,000

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 B0.358.000 Equity and Liabetes Share Captal-Ordinary Retained Earnings Notes Payable Bonds Payable Total BD 115,000 133,000 20.000 90.000 B0.350.000 Euro and Aldi agreed that the fair value of inventory was 8085,000, land was 80210,000 and machinery was B052.500 AB other assets and Sabines 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 80490,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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