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Calculation of Goodwill or Gain on bargain purchase
|Investment in Salsa||328000|
|Issued 15000 shares of $ 2 each||30000|
|Less: Fair value of identifiable net assets|
|Additional paid-in Capital||180000|
|Net Identifiable Assets of slsa||328000|
|To Investmet in Salsa||30000|
|(Being 100% investment made in Salsa by issuning 15000 shares of $ 2 each)|
Consolodated Balance Sheet Pape as at 31 December
|Current Assets (482000+275000)||757000|
|Building & Equipment (520000+310000) 830000|
|Less: Accumulated Depreciation ( 238000+113000) -351000||479000|
|Other Assets ( 254000 + 92000)||346000|
|Liabilities ans Shareholder's Equity|
|Accounts Payable (100000 + 136000)||236000|
|Bonds Payable (180000 + 150000)||330000|
|Additional pain in capital||700000|
AutoSave OFF QEU = Pepper & Salsa Year 3 Workpaper (2) View Tell me Home Insert...
B C D H Pepper Company Item E F G Consolidation Entries Debit Credit Salsa Company Consolidated Current Assets Buildings & Equipment Land Investment in Salsa Co. Stock Other Assets Total Debits 140,000 375,000 40,000 475,000 500,000 175,000 300,000 50,000 1,500,000 615,000 875,000 215,000 300,000 70,000 2,075,000 20,000 575,000 Accumulated Depreciation Current Liabilities Bonds Payable Common Stock Additional Paid-in Capital Retained Earings Total Credits 100,000 100,000 200,000 130,000 670,000 300,000 1,500,000 75,000 100,000 100,000 20,000 180,000 100,000 575,000 175,000 200,000...
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