on january 1 2013 sculptor ltd acquired all the share capital cum div of virgo ltd giving in exchange 50000 shares in sculptor
The recorded amounts of Virgo identifiable assets and liabilities at the acquisition date were equal to their fair values. Virgo had not recorded an internally developed trademark. Sculptor valued this at $20,000. It was assumed to have a four-year life.
The tax rate is 30%.
Required
Prepare the consolidated statement of financial position as at December 31, 2013.
