Advanced Accounting
On January 01, 20X1, Zasio Ltd acquired 70% of Levin Ltd. for $306,750. The pre-combination statement of financal position two entities are presented below:Zasio Ltd. Statement of Financial Position as of January 01, 20X1 Assets: Current assets 368,550.00 Cash 144,450.00 Account receivables 162,000.00 Inventory 675,000.00 Noncurrent assets: Building 526,500.00 Accumulated depreciation – building (81,000.00) 445,500.00 Equipment 354,375.00 Accumulated depreciation – equipment (141,750.00) Total assets Liabilities […]