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Can someone tell me if my answer 1 is correct? entries N on e Goodwill = 2K ( Dec ) Half of the goodwill on

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Can someone tell me if my answer 1 is correct?

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entries N on e Goodwill = 2K ( Dec ) Half of the goodwill on acquisition of Light Led by Moon Ltd was written off as the result of an impairment test on 31 December 2022. p2 PI exp During March 2022, Moon Ltd provided some management services to Light Ltd at a - Rev fee of $3000 paid by 31 December 2022. See PP. (Dec) 82 Gain on Dep - 10k P2 Bard purch On 1 July 2022, Light Ltd sold equipment to Moon Ltd for a gain of $5000. This equipment had a carrying amount to Light Ltd of $50 000, and was considered by Moon Ltd to have a 5-year life. By 31 December 2022, the financial assets acquired by Moon Ltd and Light Ltd from external entities increased in value by $3000 and ($1500 ) OCT respectively with gains and losses being recognised in other comprehensive income. The income tax rate is 30%. Depreciation = 50k / 5 years = 10, 000 Gain on sale of equip = 5,000 With your group partners you are required to: 1. Prepare the acquisition analysis at 1 January 2022. X 2. Prepare the business combination valuation entries and pre-acquisition entries at 1 January 2022. 3. Prepare the business combination valuation entries and pre-acquisition entries at 31 December 2022. Prepare the consolidation worksheet journal entries to eliminate the effects of intragroup transactions at 31 December 2022. Discuss the concept of 'realisation' using the intragroup transactions in this question to illustrate the concept. 6. Prepare the consolidation worksheet for the preparation of the consolidated financial statements for the period ended 31 December 2022. 7. Prepare the consolidated statement of profit or loss and other comprehensive income for Moon Ltd and its subsidiary, Light Ltd, at 31 December 2022

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