Bussiness combination and consolidation

Corporate accounting and reporting unit. Currently using book applying international financial reporting standards written by Wiley.
Question based on business combination and consolidation. Preparing journal entries to showthe impact of consolidation of a company as per
the requirements of IFRS 3 and IFRS 10.

At 1 July 2014, Pavo Ltd acquired 60% of the shares of Octans Ltd for $153,000 on a cum div.

basis. Pav o Ltd had acquired 40% of the shares of Octans Ltd two years earlierfor $80,000. This investment, classified as a financial
asset, was recorded as a fair value on 1 July 2014 of $ 102000. The changes in fairvalue had all been taken to other comprehensive income.
At 1 July 2014,the equity of Octans Ltd consisted of:

Share capital 35 160,000

Retained earnings $ 40,000

At this date, the

identifiable assets and liabilities of Octans ltd were recorded at fair value except for:

Carrying amount Fair

value

Inventory $40,000 $ 44,000

Plant (cost $120,000) $100,000 $ 105,000

At 1 July

2014, Octans ltd assets and liabilities included a dividend payable of $5000, and goodwill of $6000 (net of $4000 accumulated impairment
losses). An analysis ofthe unrecorded intangibles of Octans ltd rev ealed that the comp any had unrecorded internally generated brands,
considered to have a fair value of $ 50000. Further, Octans ltd had exgensed research outlays of $80,000 that were considered to have a
fair value of $ 20,000. In its financial statement statements at 30 June 014, Octans ltd had reported a contingent liability relating to a
potential claim by customers for unsatisfactory pro ducts, the fair value of the claim being $ 10,000. The tax rate is 30%.

Required

Prepare the acquisition analysis at1 July 2014, and the consolidation worksheet entriesfor preparation of consolidated financial
statements of Pav o ltd at that date. Please kindly show all workings and calculations. And also forthe worksheet entries showthe
calculations like how you gotthe amount and all. Thanking you.

PS:

lwant this to be done on a word document please showing all the

calculations with each and every entry recorded starting firstly with

1 Acquisition analysis as at the date required

2 Business combination valuation entries at required date

3. Pre acquisition entries at date required show all calculations

with all the journal entries u do from start to finish so thatl know where u got the figures.

PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET AN AMAZING DISCOUNT 🙂