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| D3- 1.
On 1 Oct 2006 Peanut acquired 3 million equity shares in Sense by issuing 1 share in Peanut in exchange for 2 shares in Sense. The market price is $6 per share for Peanut. 30% of equity shares in Alex at $7.5 per share. Statement of financial position of the 3 companies as at 30 Sep 2007 are:
The following information are relevant: (1) At acquisition date, fair value of Sense’s land is $500,000 below carrying amount. It was written down shortly after acquisition. (2) Impairment test on 30 Sep 2007 shows investment in Alex is not impaired, but consolidated goodwill impaired by $900,000 (3) Only the acquisition of Alex has been recorded by Peanut. Required: Please to prepare consolidated statement of financial position as at 30 Sep 2007.
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