On September 1,20X7,CanAir Limited Decided to Buy 100% of the Shares

question 1

Essay

On September 1,20X7,CanAir Limited decided to buy 100% of the shares outstanding of SkyAir Inc.for $1,215,000.Can Air will pay for this acquisition by cashing in all of its marketable securities and issuing share capital for the remaining amount.The balances showing on the statement of financial position for the two companies at August 31,20X7 are as follows:

After a review of the financial assets and liabilities,CanAir determines that some of the assets of SkyAir have fair values different from their carrying values.These items are listed below:
Capital assets - fair value is $1,350,000
Internet domain name - fair value is $55,000
Customer lists - fair value is $35,000
In addition,SkyAir has tax losses available for carryforward that have a fair value of $225,000 and it is probable that they will be realized in the future.
Required:
Determine the amount of goodwill that will be recorded on the business combination.
Prepare the consolidated statement of financial position as at September 1,20X7.

Differentiate between structured, unstructured, and focus group interviews based on their approaches and objectives.

Understand the characteristics and the importance of cohesive work teams.

Identify and describe the different leadership styles and their impact on team dynamics and performance.

Recognize and outline the stages of group development and their significance in team formation and effectiveness.

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Definitions:

Government Regulation

Laws and rules established by governmental bodies aimed at controlling or supervising activities within various sectors for the welfare of society.

Cash Flow Statement

A financial statement that shows how changes in balance sheet accounts and income affect cash and cash equivalents.

Financial Reporting

The process of producing statements that disclose an organization's financial status to management, investors, and regulatory authorities.

Auditing

The process of reviewing and assessing the financial statements of an entity to ensure accuracy and compliance with accounting standards.