Consolidated worksheet, consolidated financial statements

Task Details:

On 1 July 2016, Rock Ltd acquired (ex div.) all of the issued capital of Wallaby Ltd. The recorded equity of Wallaby Ltd at this date consisted of:

Debit balances Cash Receivables Inventories Other current assets Deferred tax assets Vehicles Equipment Land Financial assets Goodwill Shares in Wallaby Ltd Debentures in Flock Ltd Dividend paid Dividend declared Transfer to general reserve Cost of sales Income tax expense Depreciation and other expenses Carrying amount of machinery sold Carrying amount of equipment sold Credit balances Share capital General reserve Retained earnings (117/1 8) Accounts payable Loan payable (due 30/6/23) Dividend payable Provisions Current tax liability Deferred tax liability Accumulated depreciation vehicles Accumulated depreciation equipment 8% Debentures (matures 30/3/22) Sales revenue Dividend revenue Other income Proceeds on sale of equipment Proceeds on sale of machinery Hock Ltd 5 2500 27 000 39700 15200 7500 88000 140000 68000 26 000 250 000 10000 20000 10000 210000 30 000 39 000 21 000 sm 3 200 000 35 000 51 300 89500 25 000 20 000 12 500 43000 11800 16400 25000 450000 1 7 000 11 400 181130 $1 005 900 Wallaby Ltd 3 1250 13000 24500 6200 3500 158000 42000 180000 14600 15000 25000 5000 12000 5000 192550 32000 36000 30500 $796300 $140000 10000 67500 36000 15000 12000 9300 34000 5000 60000 34500 320000 17000 38000 $796300