On December 31,20X5,CI Co

question 36

Essay

On December 31,20X5,CI Co.purchased 100% of the outstanding common shares of SA Ltd.for $1,100,000 in cash;80% of the cash was obtained by issuing a five-year note payable.The statements of financial position of CI and SA immediately before the acquisition and issuance of the notes payable were as follows (in 000s):
Required:
Prepare the journal entry that CI will post to record the acquisition of CI.Prepare the consolidated statement of financial position for CI immediately following the acquisition of SA.

---

Definitions:

Epinephrine

A hormone and neurotransmitter also known as adrenaline, involved in the body's fight-or-flight response.

Acetylcholine

A neurotransmitter in both the peripheral nervous system (PNS) and central nervous system (CNS) in many organisms that plays a role in muscle activation, memory, and learning.

Alzheimers Disease

A progressive neurodegenerative disorder characterized by memory loss, cognitive impairment, and eventual loss of the ability to carry out everyday activities.

Memory Skills

The abilities associated with the encoding, storage, and retrieval of information from the brain.