can you help me with the attached assignment?this is my email m..6@gmail.com

Samuel On 1 July 2009 Bon Ltd acquired all the issued shares of Jovi Ltd for $36,000. At that date the accounts of Jovi Ltd show the following (assume assets acquired represent fair market value): Share capital $15,000 General reserve $ 5,000 Retained earnings $12,000 Additional information for the year ended 30 June 2012: 1. Sales by Jovi Ltd to Bon Ltd during the year amounted to $12,000 2. Unrealised profit in inventory of Bon Ltd: At 1.7.11, $1,000; At 30.6.12, $1,200 3. On 1 January 2012 Bon Ltd sold an item of plant to Jovi Ltd for $28,000, making a profit on the sale of $8,000. This item of plant was acquired at a cost of $25,000 exactly one year ago. Both Bon and Jovi Ltd depreciate plant and equipment at 20% per annum on cost; Jovi Ltd depreciates the plant from Bon Ltd assuming further useful life of 4 years starting from the date of its acquisition/ transfer. 4. Included in the other assets of Bon Ltd is a three-year loan of $25,000 at 10% pa to Jovi Ltd made on 1 April 2012. Three months' interest was accrued by both companies at 30 June 2012. 5. On 1 July 2010 Jovi Ltd sold an item of equipment to Bon Ltd for $19,000. This equipment was acquired by Jovi Ltd at 1 July 2008 for $30,000. Both Bon and Jovi Ltd depreciate plant and equipment at 20% per annum on cost; Bon Ltd depreciates the equipment from Bon Ltd based on 4 years' further useful life starting from the date of its acquisition/ transfer. 6. In addition to item 1 above, Bon Ltd also sold inventory of $15,000 to Jovi Ltd on 1 July 2011. The original cost of this inventory to Bon Ltd was $ 6,000. Jovi Ltd has 50% of this inventory on hand at 30 June 2012 7. The company income tax rate is 30%. Required: Prepare the consolidated income statement, consolidated statement of changes in equity, and consolidated balance sheet of the Bon Ltd group for the year ended 30 June 2012, as required by AASB 127 based on the following consolidated worksheet. Show all relevant consolidation journal entries. Bon Ltd Jovi Ltd Sales $115,000 $80,000 Inventory 1.7.11 $25,000 $10,000 Puchases $90,000 $25,000 Inventory 30.6.12 $30,000 $3,000 Less: COGS $85,000 $32,000 Gross profit $30,000 $48,000 Operating expenses $11,000 $12,000 Operating profit Add: Other income $19,000 $36,000 Profit on sale of plant $36,000 Interest income $12,000 Dividends from Jovi Ltd $5,000 Operating profit before tax $72,000 $39,000 Less: Income tax expense $38,000 $8,000 Operating profit after tax $34,000 $31,000 Retained earnings 1.7.11 $120,000 $15,000 Dividends, paid $30,000 $2,000 Dividends, proposed $15,000 $3,000 Retained earnings 30.6.12 $109,000 $41,000 General reserve $10,000 $7,000 Share capital $65,000 $15,000 Total shareholder's equity $184,000 $63,000 Inventory $75,000 $30,000 Other assets $83,000 $15,000 Shares in Jovi Ltd $36,000 Plant and equipment $300,000 $105,000 Accum depr - plant & equip $143,000 $70,000 $7,000 $8,000 $358,000 $88,000 Provision for dividends $40,000 $3,000 Other current liabilities $50,000 $5,000 Non-current liabilities $60,000 $12,000 Deferred tax liabilities $24,000 $5,000 Total liabilities $174,000 $25,000 Net assets $184,000 $63,000 $3,000 Assets Deferred tax asset Goodwill on consolidation Total assets Liabilities Dr. Cr. Consolidated accounts Bon Ltd. Consolidated Statement of Comprehensive Income for the year ended 30.06.2012 $ $ Sales Less Cost of sales Opening Inventory Add purchases Less Closing Inventory Gross profit Add other income Interest Profit on sale of plant 34,000 88,000 122,000 28,300 $ 168,000 93,700 74,300 14,375 28,000 116,675 23,000 93,675 43,570 50,105 45,000 5,105 Less Operating Expenses: Net Operating profit before tax Income tax Operating Net profit after tax Dividends Retained earnings Bon Ltd. Consolidated Statement of Financial Position as at 30.06.2012 Share capital Retained earnings General Reserve 65,000 122,495 17,000 204,495 Plant and equipment 188,000 Intangible assets Goodwill Deferred tax asset 4,000 12,570 16,570 Current assets Inventory Other assets 100,300 95,000 195,300 Current liabilities:Provision for dividends Other current liabilities Non-current liabilities Deferred tax liabilities 40,000 54,375 72,000 29,000 195,375 Net Current Assets (75) Net Assets Sales Inventory 1.7.11 Purchases Inventory 30.6.12 Less: COGS Gross Profit Operating Expenses Operating Profit Add Other Income Profit On Sale of plant Interest income Dividends from Jovi Ltd Operating profit before tax Less: Income tax expense Operating profit after tax 204,495 Bon Ltd $115,000 $25,000 $90,000 $30,000 $85,000 $30,000 $11,000 $19,000 $36,000 $12,000 $5,000 $72,000 $38,000 $34,000 Jovi Ltd 80,000 Dr. 12,000 15,000 $10,000 $25,000 $3,000 Cr. Consolidated accounts 1,000 12,000 15,000 1,200 3,500 168,000 34,000 88,000 28,300 $32,000 $48,000 $12,000 $36,000 8,000 $3,000 $39,000 $8,000 $31,000 625 5,000 2,400 30 28,000 14,375 - 43,570 Retained Earning 1.7.11 $120,000 $15,000 12,000 1,000 1,000 2,000 3,000 121,000 126,000 30,000 106,000 15,000 65,000 5,000 Dividends, proposed Retained earnings 30.6.12 General reserve Share capital Total shareholder's equity Assets Inventory Other assets Shares in Jovu Ltd. Plant and equipment Accum depr-plant &equipment Deferred tax asset Goodwill on consolidation Total assets Liabilities Provision for dividends Other current liabilities Non-current liabilities Deferred tax liabilities Total Liabilities Net Assets $30,000 $109,000 $10,000 $65,000 $184,000 $2,000 $41,000 $7,000 $15,000 63,000 $75,000 $30,000 $83,000 $36,000 $300,000 $143,000 $7,000 $15,000 $105,000 12,000 5,000 $70,000 $8,000 3,500 1,200 3,000 36,000 3,000 1,000 12,000 2,400 30 100,300 95,000 418,000 #VALUE! 4,000 $358,000 $3,000 $5,000 $12,000 $5,000 $25,000 $63,000 3,000 625 40,000 54,375 $88,000 $40,000 $50,000 $60,000 $24,000 $174,000 $184,000 12,570 4,000 100,755 100,755 Notes 1). Sales to Jovi Ltd to Bon Ltd and vice versa were reversed on consolidation and the amounts removed from sales revenue and cost of sales 2). Unrealized profit in inventory were adjusted to inventory 3). Good will was computed from the purchase price of the shares of Jovi Ltd by subtracting the fair value of Jovi Ltd at $32,000 from the purchase price of $36,000 4). Unrealized profit in inventory brought forward from 2011 was adjusted to deferred assets at the tax rate of 30% 5). Bon Ltd realized profit on sale of assets outside the group because the profit on sale of the plant item was $36,000 while the one sold to Jovi Ltd realized a profit 6). The loan to Jovi Ltd by Bon Ltd was not recorded by Jovi Ltd in its books and thus was not considered on consolidation. However interest accrued was adjusted 7). The sale of an item of equipment by Jovi Ltd to Bon Ltd realized a loss of Kshs $5,000 which was adjusted on plant asset and on retained earnings 8). Accumulated depreciated assets sold within the group was added back 9). The element of income tax on unrealized profit in inventory was adjusted on income tax Workings Share capital General Reserve Retained earnings Total Purchase price Goodwill 15,000 5,000 12,000 32,000 36,000 4,000 Sale of Plant item to Lovi Ltd Item cost Accumulated depreciation Written Down Value Purchase price Profit 25,000 5,000 20,000 28,000 8,000 Sale of Equipment item to Bon Ltd Cost 1.7.2008 Accumulated depreciation 1.7.2010 Written Down Value Purchase price Loss on sale of the item 30,000 6,000 24,000 19,000 5,000 6,000 rofit of $8,000 only usted on interest income