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Below is an extract of financial information of both entities as at 30 June 209, the end of the current year: Additional information: - The
Below is an extract of financial information of both entities as at 30 June 209, the end of the current year: Additional information: - The partial goodwill method is used. Impairment of consolidation goodwill was assessed to be $1,000 on 30 June 208. - Manly sold inventory to Bondi during April 20X9 for $18,000. The cost of inventory to Manly was $12,000. Half of this inventory was still on hand at the year end. straight-line method. - Bondi provided $8,000 worth of consulting services to Manly during May 20X9. Manly paid for the services before year end. Required: allocated to workings.) 16 marks b) Calculate NCl's allocation for the year ended 30 June 209 for the following (Show workings). 4 marks - Net profit - Retained profits (opening) Below is an extract of financial information of both entities as at 30 June 209, the end of the current year: Additional information: - The partial goodwill method is used. Impairment of consolidation goodwill was assessed to be $1,000 on 30 June 208. - Manly sold inventory to Bondi during April 20X9 for $18,000. The cost of inventory to Manly was $12,000. Half of this inventory was still on hand at the year end. straight-line method. - Bondi provided $8,000 worth of consulting services to Manly during May 20X9. Manly paid for the services before year end. Required: allocated to workings.) 16 marks b) Calculate NCl's allocation for the year ended 30 June 209 for the following (Show workings). 4 marks - Net profit - Retained profits (opening)
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