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SECTION A
Acquisition of net assets of Southern Pty Ltd: the fair value of each Snap Ltd share is $2.16.
- Net fair value of identifiable assets and liabilities acquired:
| Account Receivable | 54800 |
| Inventory | 28000 |
| Plant | 112000 |
| Land | 35800 |
| Brand “41 South” | 12000 |
| $242600 |
- Consideration transferred:
| Value before Acquisition | Value after Acquisition | |||
| Shareholders Shares | ‘A’ shares of Southern Pty Ltd shares in Snap Ltd (2/3) | 60000 | 40000*$2.16 | $86400 |
| Artworks | Owner of B ordinary shareholders | 40000 | 58000 | 58000 |
| 144400 | ||||
| Creditors | ||||
| Cash: | Account payable | 34800 | ||
| Loans | 55200 | |||
| Interest on loan | 22800 | |||
| Annual leave | 13000 | |||
| Total cash required | 125800 | |||
| Less: cash already held | (26000) | 99800 | ||
| $244200 |
- Goodwill:
$244200 - $242600 = $1600
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