2-Jan-11 Invesment in S 600,000 P

Share Capital-Ordinary 300,000 Statement of F

Share Premium-Ordinary 300,000 January

2-Jan-11 Investment Expense 25,000 Assets

Share Premium-Ordinary 15,000 Noncurrent Assets
Cash 40,000 Property, Plant, and Equipme
Land
2-Jan-11 Current Asset 100,000 Buildings (net)
Land 100,000 Equipment (net)
Buildings-net 100,000 Total Property, Plant, and Equ
Equipment-net 240,000 Intangible Assets
Goodwill 120,000 Goodwill
Current Liabilities 60,000 Total Noncurrent Assets
Invesment in S 600,000
Current Assets
Total Assets

Equity and Liabilities

Equity
Share Capital-Ordinary
Share Premium-Ordinary
Retained Earnings
Total Equity

Liabilities
Current Liabilities
Total Equity and Liabilities
 P Co.
Statement of Financial Position
January 3, 2011

perty, Plant, and Equipment

150,000
Buildings (net) 400,000
Equipment (net) 460,000
l Property, Plant, and Equipment 1,010,000
ngible Assets
120,000
ncurrent Assets 1,130,000

190,000
1,320,000

d Liabilities

e Capital-Ordinary 800,000
e Premium-Ordinary 335,000
ined Earnings 75,000
1,210,000

ent Liabilities 110,000

ity and Liabilities 1,320,000
2-Jan-11 Invesment in S 2,500,000
Share Capital-Ordinary 1,000,000 Statem
Share Premium-Ordinary 1,000,000
Cash 500,000
Assets
2-Jan-11 Investment Expense 100,000 Noncurrent Assets
Share Premium-Ordinary 50,000 Property, Plant, and Equ
Cash 150,000

2-Jan-11 Cash 240,000

Account Receivable 360,000 Total Noncurrent Assets
Notes Receivable 300,000 Current Assets
Inventory 500,000 Other Current Assets
Other current assets 200,000 Inventory
Land 200,000 Accounts Receivable (net
Building-net 1,200,000 Notes receivable (net)
Equipment-net 600,000 Cash
Accounts Payable 300,000 Total Current Assets
Mortgage payable 700,000 Total Assets
Invesment in S 2,500,000
Gain on bargain purchase 100,000
Total Assets

Equity and Liabilities

Equity
Share Capital-Ordinary
Share Premium-Ordinary
Retained Earnings
Total Equity

Liabilities
Noncurrent Liabilities

Current Liabilities

Total Liabilities
Total Equity and Liabilities
 P Co.
Statement of Financial Position
January 3, 2011

Noncurrent Assets
Property, Plant, and Equipment
Land 2,200,000
Buildings (net) 10,200,000
Equipment (net) 10,600,000
Total Noncurrent Assets 23,000,000
Current Assets
Other Current Assets 900,000
Inventory 3,000,000
Accounts Receivable (net) 1,660,000
Notes receivable (net) 1,800,000
Cash 2,590,000
Total Current Assets 9,950,000
Total Assets 32,950,000

Total Assets

Equity and Liabilities

Share Capital-Ordinary 11,000,000

Share Premium-Ordinary 8,950,000
Retained Earnings 6,000,000
Total Equity 25,950,000

Liabilities
Noncurrent Liabilities
Mortgage Payable, 10% 5,700,000
Current Liabilities
Accounts Payable 1,300,000
Total Liabilities 7,000,000
Total Equity and Liabilities 32,950,000