The Following Information Pertains to Questions

question 44

Essay

The following information pertains to Questions
ABC123 Inc has decided to purchase 100% the voting shares of DEF456 for $400,000 in Cash on July1,2008.On the date,the balance sheets of each of these companies were as follows: On that date,the fair values of DEF456 Assets and Liabilities were as follows: In addition to the above,an independent appraiser deemed that DEF456 Inc.had trademarks with a fair market value of $100,000 which had not been accounted for.In turn,ABC123's fair market values were equal to their book values with the exception of the Company's Inventory and Plant and Equipment,which were said to have Fair Market Values of $30,000 and $480,000,respectively.
-Prepare any disclosure required for ABC123 Inc.under IFRS.Assume DEF456 produces high-end loudspeakers for touring musicians.

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Definitions:

Experiential Immortality

The psychological concept that through memories, actions, or impacts on the world, individuals can achieve a form of immortality in the minds of others.

Natural Immortality

The philosophical or religious belief that the soul or spirit exists perpetually beyond the death of the physical body.

Analytically

Relates to processing or approaching problems with logical reasoning, breaking down complexities into understandable components.

Panda

A large, bear-like mammal with distinctive black and white coloring, native to the mountain forests of China.