How to record Wesfarmers acquisition of the Coles Group

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Micky2
Micky2 Member Posts: 1 ✭
edited August 2016 in Personal Plus and Home & Business
Can anyone provide advice on how to record Wesfarmers' corporate acquisition of the Coles Group in 2007? The consideration for each Coles share was $4.00 per share, plus 0.14215 Wesfarmers ordinary share, plus 0/14215 Wesfarmers partially protected share.

Am using Reckon Accounts Personal Plus 2016

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  • Stan Goodacre_7962994
    Stan Goodacre_7962994 Member Posts: 7 ✭
    edited January 2016
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    Hi, Micky,
    I'm not sure about your figures on the Wesfarmers acquisition - my records show $ 2.9583 cash plus 0.16854 Wes FPO and 0.14215 PP shares. I don't recall whether there were alternatives that explain the differences in our figures.

    In any case, all I did was to record the transaction as a sale of Coles at $2.9583 per share and the purchase of the appropriate number of  Wesfarmers at the market price at the time ($42, I believe). I know that wouldn't satisfy an accountant but as I don't use one it doesn't much matter. It keeps the financial record well enough to suit me.

    Regards,

    Stan

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