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After meeting with your supervisor, you gathered the following information which you might need to complete your work: I Cassie declared dividends $55,000 and paid
After meeting with your supervisor, you gathered the following information which you might need to complete your work: I Cassie declared dividends $55,000 and paid dividends $35,000. I lCotter declared and paid dividends $20,000. a Management team of Cassie believes that goodwill acquired from business combination was impaired by $10,000 in 2022, $15,000 in 2023 and $30,000 in 2024. There was no impairment in 2020 and 2021. - Cassie has the following accounting policies for the group: s Revaluation adjustments on acquisition are to be made on consolidation only, not in the books of any subsidiary. } All plants and machineries are depreciated using the straightline method with no residual value. For partyears, depreciation is to be calculated on the number of months the asset is held in the relevant year. Intragroup sales of inventory to be at a markup of 10% on cost. All calculated amounts are to be rounded to the nearest whole dollar. Companies in the group do not show cents in any journals, worksheets, or nancial statements. The company tax rate is 30% and this rate has not changed for several years. Reporting date is 30 June. Journal narrations are required. Number each year consolidation eliminationfadjusting journal entries by 1, 2, 3, ..., etc. Where more than one journal entry is needed for an event to be completely accounted for add the letters a,b,c,. ..etc to them as necessary. V\
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