A consolidation worksheet for the year ending 30 June 2020

(b) Consolidation Worksheet Adjustments Dr Cr Consolid ed Sales Less Cost of Sales Parent Subsidiar Ltd y Ltd 1,050,000 509,100 510,000 281,000 540,000 228,100 35,000 0 12,000 0 24,000 0 Gross Profit Add Dividend Income Add Rental Income Add Gain on Sale of Machine (Proceeds less Carrying amount) Less Occupancy Expenses including Rent Less Admin Expenses Less Depreciation & Amortisation Less Other Expenses Profit before tax 37,000 29,500 46,000 62,000 40,000 426,000 15,000 40,000 10,000 133,600 Less Income Tax Expenses 80,000 24,600 Profit after tax 346,000 109,000 Retained earnings (1 July 2019) 124,000 90,000 Less Dividends (paid and declared) Retained earnings (30 June 2020) General reserve Share Capital (70,000) 400,000 36,000 400,000 (35,000) 164,000 0 100,000 BCVR 0 0 Deferred tax liabilities 0 0 80,000 75,000 20,000 0 359,000 Trade & Other Payables Dividend payable Bank Overdraft Total Shareholders' equity and Liabilities Land Machinery, at cost Less Accumulated Depreciation Patent at cost Less Accumulated Amortisation Investment in Subsidiary Ltd Goodwill Dividend receivable 70,000 90,000 1,076,000 142,000 370,000 (120,000) 40,000 0 340,000 0 20,000 100,000 135,000 (55,000) 0 0 0 15,000 0 Deferred tax assets 0 0 Inventories 169,000 Trade & Other Receivables 95,000 ACCT6005 Assessment 2 Case Study Page 5 60,000 79,000 LAUREATE INTERNATIONAL UNIVERSITIES Cash and cash equivalent Total Assets 20,000 1,076,000 25,000 359,000 (b) Consolidation Worksheet Adjustments Dr Cr Consolid ed Sales Less Cost of Sales Parent Subsidiar Ltd y Ltd 1,050,000 509,100 510,000 281,000 540,000 228,100 35,000 0 12,000 0 24,000 0 Gross Profit Add Dividend Income Add Rental Income Add Gain on Sale of Machine (Proceeds less Carrying amount) Less Occupancy Expenses including Rent Less Admin Expenses Less Depreciation & Amortisation Less Other Expenses Profit before tax 37,000 29,500 46,000 62,000 40,000 426,000 15,000 40,000 10,000 133,600 Less Income Tax Expenses 80,000 24,600 Profit after tax 346,000 109,000 Retained earnings (1 July 2019) 124,000 90,000 Less Dividends (paid and declared) Retained earnings (30 June 2020) General reserve Share Capital (70,000) 400,000 36,000 400,000 (35,000) 164,000 0 100,000 BCVR 0 0 Deferred tax liabilities 0 0 80,000 75,000 20,000 0 359,000 Trade & Other Payables Dividend payable Bank Overdraft Total Shareholders' equity and Liabilities Land Machinery, at cost Less Accumulated Depreciation Patent at cost Less Accumulated Amortisation Investment in Subsidiary Ltd Goodwill Dividend receivable 70,000 90,000 1,076,000 142,000 370,000 (120,000) 40,000 0 340,000 0 20,000 100,000 135,000 (55,000) 0 0 0 15,000 0 Deferred tax assets 0 0 Inventories 169,000 Trade & Other Receivables 95,000 ACCT6005 Assessment 2 Case Study Page 5 60,000 79,000 LAUREATE INTERNATIONAL UNIVERSITIES Cash and cash equivalent Total Assets 20,000 1,076,000 25,000 359,000