Alice Ltd acquired all the issued shares of Springs Ltd for $521 760 cash on 1 July 2019…. 1 answer below »

Alice Ltd acquired all the issued shares of Springs Ltd for $521 760 cash on 1 July 2019. At this date, the information below was provided: Springs Ltd’s equity comprised of Share Capital, Retained earnings and General Reserve with the following account balances: Share Capital $161 700 Retained Earnings 151 200 General Reserve 72 000 Springs Ltd had recorded Goodwill of $5 760 (see Goodwill account in Consolidation Worksheet in Answer Booklet). Al the identifiable assets and liabilities of Springs Ltd were recorded at fair value equal to their carrying amounts except Buildings that were considered to have a further 5-year useful life.

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Assessment-2-….docx

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