问答题
On 1 June 2010, Premier acquired 80% of the equity share capital of Sanford. The consideration consisted of two elements: a share exchange of three shares in Premier for every fi ve acquired shares in Sanford and the issue of a $100 6% loan note for every 500 shares acquired in Sanford. The share issue has not yet been recorded by Premier, but the issue of the loan notes has been recorded. At the date of acquisition shares in Premier had a market value of $5 each and the shares of Sanford had a stock market price of $3·50 each. Below are the summarised draft fi nancial statements of both companies.
Statements of comprehensive income for the year ended 30 September 2010
问答题
(a) Prepare the consolidated statement of comprehensive income for Premier for the year ended 30 September 2010.(9 marks)
【正确答案】
Sanford’s profi ts for the year ended 30 September 2010 of $3·9 million are $2·6 million (3,900 x 8/12) pre-acquisition and $1·3 million (3,900 x 4/12) post-acquisition.
【答案解析】
问答题
(b) Prepare the consolidated statement of fi nancial position for Premier as at 30 September 2010.
The following mark allocation is provided as guidance for this question:(16 marks)
【正确答案】
The 2·4 million shares (5,000 x 80% x 3/5) issued by Premier at $5 each would be recorded as share capital of $2·4 million and share premium of $9·6 million.
The 2·4 million shares (5,000 x 80% x 3/5) issued by Premier at $5 each would be recorded as share capital of $2·4 million and share premium of $9·6 million.
【答案解析】