Explain how and why you calculated the post-acquisition contribution made by the subsidiary to the group. Consolidation
Fantastic news! We've Found the answer you've been seeking!
Question:
Explain how and why you calculated the post-acquisition contribution made by the subsidiary to the group.
Transcribed Image Text:
Consolidation worksheet for financial year ended 30 June 2021 Chandler Joey Adjustments Consolidated Ltd Ltd Debit Ref Credit Entity 000.$ 4,620 $'000 $'000 $'000 $'000 Sales revenue 2,840 530 f 6,930 Less cost of goods sold Opening inventories 680 630 30 1,280 Add purchases 3,600 2,120 530 5,190 Less closing inventories 710 440 20 1,130 |Cost of goods sold Gross profit 3,570 2.310 1,050 530 Dividend revenue 88 88 Management fee revenue 35 35 Interest revenue 9 e Depreciation expense 160 125 10 275 Finance costs 181 35 e 207 Other expenses 204 49 35 c/d 35 253 Profit before tax 628 330 ? Тах еxpense 201 97 12 i/g/l 304 Profit after tax for the year 427 233 Retained earnings 1 July 2020 705 429 337 b/i/l 38 835 Dividends paid (57) (57) (121) (32) 32 (121) 1,208 Dividends declared (56) 56 Retained earnings 30 June 954 574 2021 Issued capital 800 350 350 b 800 Revaluation surplus 210 210 Fair value adjustment 56 b/a 56 Shareholders' equity 1,964 924 Assets Cash 78 117 195 Accounts receivable 72 35 h 25 82 Dividends receivable 56 k 56 Inventories 710 440 20 1,130 Investment in Joey Ltd 750 b 750 Loan to Chandler Ltd 150 e 150 Land 720 250 80 1,050 a Buildings 1,500 780 2,280 Accumulated depreciation (320) (494) (814) Plant and equipment Accumulated depreciation Goodwill (net) 850 450 25 1,325 (235) (210) 30 85 (500) 94 b/c 35 59 Deferred tax asset 24 g/ 9 15 Total assets 4,181 1,518 4,822 Less liabilities Current taxes payable 111 87 198 Accounts payable Dividend payable 292 50 25 317 121 56 56 k 121 Loan from Joey Ltd 150 150 e Mortgage loan 1,253 401 1,654 Deferred tax liabilities 290 a 24 314 Net assets 1,964 924 1,956.00 1,956.00 Consolidation worksheet for financial year ended 30 June 2021 Chandler Joey Adjustments Consolidated Ltd Ltd Debit Ref Credit Entity 000.$ 4,620 $'000 $'000 $'000 $'000 Sales revenue 2,840 530 f 6,930 Less cost of goods sold Opening inventories 680 630 30 1,280 Add purchases 3,600 2,120 530 5,190 Less closing inventories 710 440 20 1,130 |Cost of goods sold Gross profit 3,570 2.310 1,050 530 Dividend revenue 88 88 Management fee revenue 35 35 Interest revenue 9 e Depreciation expense 160 125 10 275 Finance costs 181 35 e 207 Other expenses 204 49 35 c/d 35 253 Profit before tax 628 330 ? Тах еxpense 201 97 12 i/g/l 304 Profit after tax for the year 427 233 Retained earnings 1 July 2020 705 429 337 b/i/l 38 835 Dividends paid (57) (57) (121) (32) 32 (121) 1,208 Dividends declared (56) 56 Retained earnings 30 June 954 574 2021 Issued capital 800 350 350 b 800 Revaluation surplus 210 210 Fair value adjustment 56 b/a 56 Shareholders' equity 1,964 924 Assets Cash 78 117 195 Accounts receivable 72 35 h 25 82 Dividends receivable 56 k 56 Inventories 710 440 20 1,130 Investment in Joey Ltd 750 b 750 Loan to Chandler Ltd 150 e 150 Land 720 250 80 1,050 a Buildings 1,500 780 2,280 Accumulated depreciation (320) (494) (814) Plant and equipment Accumulated depreciation Goodwill (net) 850 450 25 1,325 (235) (210) 30 85 (500) 94 b/c 35 59 Deferred tax asset 24 g/ 9 15 Total assets 4,181 1,518 4,822 Less liabilities Current taxes payable 111 87 198 Accounts payable Dividend payable 292 50 25 317 121 56 56 k 121 Loan from Joey Ltd 150 150 e Mortgage loan 1,253 401 1,654 Deferred tax liabilities 290 a 24 314 Net assets 1,964 924 1,956.00 1,956.00
Expert Answer:
Answer rating: 100% (QA)
CESConsolidated Financial statement are the Fianaci... View the full answer
Posted Date:
Students also viewed these marketing questions
-
Explain how and why distribution channels are affected as they are when the stage of development of an economy improves.
-
Explain how and why profitability ratios at small banks typically differ from those at the largest money center banks.
-
Explain how and why trade barriers have come down in recent decades.
-
A plank with a mass M = 6.00 kg rides on top of two identical solid cylindrical rollers that have R = 5.00 cm and m = 2.00 kg (Fig. P10.86). The plank is pulled by a constant horizontal force F of...
-
Do you believe that the PCAOB overstepped its regulatory role and responsibilities by beginning a dialogue regarding the possible need for mandatory audit firm rotation? Why or why not? Do you agree...
-
What are some of the most common tax fraud schemes?
-
The annual report of a major public limited company included the following statement: Going concern The directors consider that the group and the company have adequate resources to remain in...
-
Suppose that a certain large population contains k different types of individuals (k 2), and let i denote the proportion of individuals of type i, for i = 1, . . . , k. Here, 0 i 1 and 1 + . . . +...
-
A certain stimulus administered to each of the 12 patients resulted in the following increase of blood pressure.: 5, 2, 8, -1, 3, 0, -2, 1, 5, 0, 4 and 8 Can it be concluded that the stimulus will,...
-
Problem Statement: The aim of this case study is to propose a daily capacity level and level of resourcing required for Q2 & Q3 2023. The proposed daily capacity level should achieve the highest...
-
1 8 0 days ago you bought a bill with a $ 5 0 0 , 0 0 0 face value for a price of $ 4 9 1 , 0 0 0 . Today, the bill has 3 1 days before maturity and you sell it in the market when the yield is 8 % ....
-
+ PARTICULARS The following Information pertains to the production department of ABC Corp. BUDGETED COST Direct Materials ACTUAL COST 247 000 230 000 Direct Labor 183 500 165 000 Indirect Salaries*...
-
1. Super Delicious Cakes is involved in selling cakes. You are required to classify the following costs according to their behaviour either fixed cost, variable cost,semi- fixed or semi-variable...
-
Think about your own retirement investment portfolio or find an example of one online. Discuss how you might use a model to create the optimum portfolio allocation for your risk level.
-
The following Information pertains to the production department of ABC Corp. 00
-
The falling data are for Appleknockoff company's production run of cell phones for next month (per phone). Direct materials $6.00 3.2 Direct labor Variable factory O/H 2.8 Fixed factory O/H 4 Total...
-
Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses Purchases of raw materials Direct labor...
-
State whether each of the following will increase or decrease the power of a one-way between-subjects ANOVA. (a) The effect size increases. (b) Mean square error decreases. (c) Mean square between...
-
Guarantee Oil Companys internal land department incurred costs of $150,000 in acquiring leases. Of the 1 million acres of prospects, only 450,000 acres were leased. a. How much, if any, of the...
-
Given the following data for Float Energy: a. Give the entries to record the abandonment of both Lease A and Lease B. b. Give the entries assuming instead that both Lease A and Lease B were proved,...
-
Gusher Oil Corporation obtained shooting rights only for \($10,000\) on 5,000 acres owned by Mr. Q and shooting rights coupled with an option to lease for \($12,000\) on 4,000 acres owned by Mr. S....
Study smarter with the SolutionInn App