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Bugs Ltd went into voluntary liquidation on 30 June 2020. Its summarised statement of nancial position at that date is as follows: Bugs Ltd Statement

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Bugs Ltd went into voluntary liquidation on 30 June 2020. Its summarised statement of nancial position at that date is as follows: Bugs Ltd Statement of Financial Position As at 30 June 2112!] E-ui - Share eel-ital - - - - - - ____ Total e-ui - All assets realised amounted to $55 [100. Payables allowed a $530 discount. Costs of liquidation were $3 DDD. Required (i) Complete the journal entries to liquidation. (15 % marks} (ii) Record the entries in the Liquidation account, the Liquidators receipts 8: payments, and the Shareholders distribution account. (9 115 marks) Answer journal for question 4 part {i} Use the worksheet below to show your adjusting consolidation journal entries at 30 June 2020, narrations are required: Add rows to the answer table if required. Date

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