Answer for the question is given below:

1.

Net fair value of identifiable assets and liabilities of Thomas Ltd = ($130,000 + $50,000 + $40,500) (equity)

+ $8,000 (1 30%) (inventory)

+ $10,000 (1 30%) (plant)

+ $20,000 (1 30%) (land)

+ $12,000 (1 30%) (internally generated brand)

- $15,000 (1 30%) (provision for damages)

- $5,000 (goodwill)

= $220,500 + $5,600 + $7,000 + $14,000 + $8,400 - $10,500 - $5000

= $240,000

Consideration transferred = $246,000

Goodwill = $246,000 - $240,000

= $6,000

Goodwill recorded = $5,000

Unrecorded goodwill = $1,000

Explanation:

Goodwill is the difference between the price paid for acquiring the business and the net fair value of indentifiable assets and liabilities of the company being acquired.

Date	Account	Dr	Cr
2022-06-30	Accumulated Depreciation	$30,000
	Property, Plant and Equipment		$20,000
	Deferred Tax Liability		$3,000
	BCVR		$7,000

Date	Account	Dr	Cr
2022-06-30	Depreciation Expense	$4,000
	Accumulated Depreciation		$4,000
	($10,000*2/5)

Date	Account	Dr	Cr
2022-06-30	Deferred Tax Liability	$1,200
	Income Tax Expense (Benefit)		$1,200
	$4000*30%

Date	Account	Dr	Cr
2022-06-30	Land and Land Improvements	$20,000
	Deferred Tax Liability		$6,000
	BCVR		$14,000

Date	Account	Dr	Cr
2022-06-30	Inventory	$8,000
	Deferred Tax Liability		$2,400
	BCVR		$5,600

Date	Account	Dr	Cr
2022-06-30	Accumulated Impairment Loss	$13,000
	Goodwill		$12,000
	BCVR		$1,000

Date	Account	Dr	Cr
2022-06-30	Intangible Assets Excluding Goodwill	$12,000
	Deferred Tax Liability		$3,600
	BCVR		$8,400

Date	Account	Dr	Cr
2022-06-30	BCVR	$10,500
	Deferred Tax Asset	$4,500
	Provisions (contingent liabilities)		$15,000

Date	Account	Dr	Cr
2022-09-30	Retained Earnings	$40,500
	Common Equity, Stock	$130,000
	General Reserve	$50,000
	BCVR	$25,500
	Shares in Thomas Ltd		$246,000

CAN YOU PLEASE GIVE REMAINING ANSWER AFTER THIS SOLUTION , I WILL GIVE YOU TWO UPVOTE FROM TWO ACCOUNT

	Jonathan Ltd	Thomas Ltd		Adjustments			Group
				Dr	Cr
Revenues	90 000	64 000
Expenses	34 000	42 000
Trading profit	56 000	22 000
Gains (losses) on sale of non-current assets	8 000	8 000
Profit before tax	64 000	30 000
Income tax expense	12 000	5 000
Profit	52 000	25 000
Retained earnings (1/7/21)	103 000	55 000
Transfer from BCVR	0	0
Transfer from general reserve	30 000	15 000
	185 000	95 000
Dividend paid	20 000	0
Retained earnings (30/6/22)	165 000	95 000
Share capital	150 000	130 000
General reserve	10 000	20 000
BCVR	0	0
	325 000	245 000
Other components of equity (1/7/21)	30 000	15 000
Increases/Decreases	5 000	3 000
Other components of equity (30/6/22)	35 000	18 000
Total equity	360 000	263 000
Accounts payable	30 000	10 000
Deferred tax liability	18 000	10 000
Other liabilities	250 000	230 000
	658 000	513 000
Goodwill	20 000	18 000
Accumulated impairment losses	0	(13 000)
Inventory	40 000	30 000
Cash	10 000	5 000
Financial assets	110 000	207 000
Shares in Francis Ltd	246 000	0
Land	20 000	20 000
Brands	80 000	0
Plant	314 000	466 000
Accum depreciation	(182 000)	(220 000)
	658 000	513 000

Complete the consolidated worksheet for 30 June 2022 ,

Prepare the consolidated financial statements at 30 June 2022 ,

Write a report to explain the consolidation process as per AASB10 for wholly ownedentities.

Jonathan Ltd acquired all the issued sheres (ex-div,) of Thomas Ltd on 1 July 2020 for $246000. At this dete the equity of Thomes Lto consisted of: At the acquisition date all the identifibble assets and liabilities of Thomas Ltd consisted of: The inventcries were all sold by 30 June 2020 . The land was sold on 1 February 2021 for $150000. The plant was conside red to have a further 5 -year life. The plant eras sold for $155000 on 1 January 2022. Aso, at acquisition date Thomas Ltd had recorded a dividend payable of $7000 and goodwill (net of accumulated impairment losses of $13000 ) of $5000. Thomas Ltd had not recorded some internally generated brands that Jonathen Ltd considered to have a fair value of S12 000 . The brand was considered to have an indefinite lite. Also not recorded by Thomas Lto was a contingent liability relating to a current court case in which Thomas Ltd was involved and a supplier was seeking compensation. Jonathan Lto placed a tair value of $15000 on this liability. This court case was setted in May 2022 at which time Thomas Ltd was required to pay damages of S16000. In February 2021. Thomas Lid transferred $20000 from the general reserve on hand at 1 July 2020 to retained eam ings. A further $15000 was transferred in February 2022. Eoth companles have an eculty account entited 'Other components of equity' to which certain gains and losses from financial assets are taken. Ak 1 duly 2021, the balances of these accounts were $30000 (Jonathan Lto) and $15000 (Thomas Ltd). The financial statements of the two companies at 30 June 2022 contained the following information. Required Complete the corsclidated worksheet for 30 June 2022 . Prepare the consolidated financial statements at 30 June 2022 Write a report to explain the consolidation process as per AASB10 for wholly ownedentities. Jonathan Ltd acquired all the issued sheres (ex-div,) of Thomas Ltd on 1 July 2020 for $246000. At this dete the equity of Thomes Lto consisted of: At the acquisition date all the identifibble assets and liabilities of Thomas Ltd consisted of: The inventcries were all sold by 30 June 2020 . The land was sold on 1 February 2021 for $150000. The plant was conside red to have a further 5 -year life. The plant eras sold for $155000 on 1 January 2022. Aso, at acquisition date Thomas Ltd had recorded a dividend payable of $7000 and goodwill (net of accumulated impairment losses of $13000 ) of $5000. Thomas Ltd had not recorded some internally generated brands that Jonathen Ltd considered to have a fair value of S12 000 . The brand was considered to have an indefinite lite. Also not recorded by Thomas Lto was a contingent liability relating to a current court case in which Thomas Ltd was involved and a supplier was seeking compensation. Jonathan Lto placed a tair value of $15000 on this liability. This court case was setted in May 2022 at which time Thomas Ltd was required to pay damages of S16000. In February 2021. Thomas Lid transferred $20000 from the general reserve on hand at 1 July 2020 to retained eam ings. A further $15000 was transferred in February 2022. Eoth companles have an eculty account entited 'Other components of equity' to which certain gains and losses from financial assets are taken. Ak 1 duly 2021, the balances of these accounts were $30000 (Jonathan Lto) and $15000 (Thomas Ltd). The financial statements of the two companies at 30 June 2022 contained the following information. Required Complete the corsclidated worksheet for 30 June 2022 . Prepare the consolidated financial statements at 30 June 2022 Write a report to explain the consolidation process as per AASB10 for wholly ownedentities