Financial information for Thomas Ltd and its 100% owned subsidiary, Gordon Ltd, for the period ended 30 June 2025 is provided below. Thomas Ltd ($) Gordon Ltd (5) Sales revenue 52500 49500 Dividend revenue 2000 Gain on sale of PPE 4120 Other income 2040 4080 Total income 58680 57760 Cost at Sales 3700 Other expenses 5240 2080 Total penses 49500 39160 Profit before income tax 911 18500 Income tax expense 2835 4096 Pront for the period 14505 Retained earnings I luly 2024) 12840 6420 19135 20925 Inlerim dividend paid 5200 2000 Retained earnings (30 June 2025) 1395 18945 Thomas Lid acoured its shares in Gordon Lid at 1 July 2024 for $40000 on um die basis. At that date, Gordon Led recorded share capital of $2000. Gordon itd had declared prior to the acquisition a dividend of $6300 that was paid in September 2024 At 1 July 2024, all identifiable assets and liabilities of Gordon Ltd were recorded at fir value except for inventorics, for which the carrying amount was $316 less than fair value. Some of the inventuries have been a little slow to sell, and 10% oft til un hand st 30 June 2025. Inventories on hand in Gordon Ltd at 30 June 2005 also includes same item acquired from Thomas Ltd during the period ended 30 June 2025. These were suld by Thomas Ltd for $10600,sta prufit before tsx of $2000. Half of the goodwill on acquisition of Gordon Ltd by Thomas Ltd was written off as the result of animament test on 30 June 2025 During September 2024, Thomas Ltd provided some management Services to Gordon Ltel at a foc of $1020 pad by 30 June 2025 On 1 January 2024, Gordon Ltd sold machinery to Thomas Ltd at again of $4230. This machinery had a carrying amount to Gorcon Lid of SAUDU, and was considered by Thomas Lid to have a further 5-year useful life. By 30 June 2025, the financial assets acquired by Thomas Ltc and Gordon Ltd from external entities increased in value by $2160 and $1417 respectively with gains and losses being recognised in other comprehensive income The income tax rate is BOX REQUIRED 1. Prepare the acquisition analysis at 1 July 2024. (2 marks 2. Prepare the business combination valuation entries and pre-scquisition entre 1 July 2024. S marks) 3. Prepare the business combination valuation cntrics and pre acquisition entries st 30 June 2025. (10 marks 4. Drepare the consolidation worksheet journal entries to eliminate the effects Intragroup transactions at 30 June 2025. (15 marks 5. Discuss the concept of 'realisation using the intragroup transactions in this question 4120 2000 2000 5R50 43200 57760 37080 Gain on sale of Pre the income Total income Cost of Sales Other expenses Total Pepenses Profit before come tax Income tax expense Profit for the period Retained warnings (1 July 2024 39160 18300 5200 49500 9130 2835 6345 12840 14505 6420 Interim dividend paid Retained earnings (30 Jure 2025 19185 5200 13935 2010 18345 Thamasidaruired to shares in Garcianid at 1 y 2004 for $40ADC na cum die basis. At that date, Gordon Ltd recorded share capital of $20600. Gordon Ltd had declareci prior to the acquisition a dividend of $6300 that was paid in September 2024 At 1 July 2024, all identifiable assets and liabilities of Gordon Ltd were recorded at fair value except for inventores, for which the carrying amount was $910 less than fair value. Some of the inventaries have been a little down to sell, and 10% of it is still on hand at 30 June 2025. Inventories on hand in Gordon Ltd at 30 June 2025 also includes some items acquired from Thomas Ltd during the period ended 30 June 2025. These were Sold by Thomas i td for $106.00, at Aprofit before tax of $2040. Half of the goodwill on acquisition of Gordon Led by Thomas Ltd was written oif as the result of an impairment test on 30 kune 2005. During September 20124, Thomas Ltd provided some management services to Gordon Ltd at a fee of $100 d by lune 2012 Un 1 January 2024, Gordon Lid sold machinery to Thomas Led at a gono $4280. This machinery had a carrying amount to Gondold of SANADO, and was considered by Thomas Ltd to have a further 5 year useful life By 30 June 2025, the financial assets acquired by Thomas Ltd and Gordon Ltd from external entities increased in value hy $2160 and $1417 respectively with gains and losses being recognised in other comprehensive Income The income tax rate is 30% REQUIRED 1. Prepare the acquisition analysis at 1 July 2024. (2 marks! 2. Prepare the business combination valuation entries and pre-acquisition entries at 1 July 2024. 15 mark) 3. Prepare the business combination valuation entries and pre-scquisition entries at 30 lure 2025. (10 marks! 4. Prepare the consolidation worksheet Journal entries to allminate the chicts of intragroup transactions at 30 June 2025. (15 marks) 5. Discuss the concept of palisation using the intracraup transactions in this question to Illustrate the concept. (marks) . Prepare the consolidated worksheet for the preparation of the consolidated financial statements for the period ended in 2005. (10) marks) 7. Prepare the consolidated statement of profit and less and other comprehensive income for Thomas Ltel and its subs dlary Gordon Led, at 30 June 2025. (10 marks Financial information for Thomas Ltd and its 100% owned subsidiary, Gordon Ltd, for the period ended 30 June 2025 is provided below. Thomas Ltd ($) Gordon Ltd (5) Sales revenue 52500 49500 Dividend revenue 2000 Gain on sale of PPE 4120 Other income 2040 4080 Total income 58680 57760 Cost at Sales 3700 Other expenses 5240 2080 Total penses 49500 39160 Profit before income tax 911 18500 Income tax expense 2835 4096 Pront for the period 14505 Retained earnings I luly 2024) 12840 6420 19135 20925 Inlerim dividend paid 5200 2000 Retained earnings (30 June 2025) 1395 18945 Thomas Lid acoured its shares in Gordon Lid at 1 July 2024 for $40000 on um die basis. At that date, Gordon Led recorded share capital of $2000. Gordon itd had declared prior to the acquisition a dividend of $6300 that was paid in September 2024 At 1 July 2024, all identifiable assets and liabilities of Gordon Ltd were recorded at fir value except for inventorics, for which the carrying amount was $316 less than fair value. Some of the inventuries have been a little slow to sell, and 10% oft til un hand st 30 June 2025. Inventories on hand in Gordon Ltd at 30 June 2005 also includes same item acquired from Thomas Ltd during the period ended 30 June 2025. These were suld by Thomas Ltd for $10600,sta prufit before tsx of $2000. Half of the goodwill on acquisition of Gordon Ltd by Thomas Ltd was written off as the result of animament test on 30 June 2025 During September 2024, Thomas Ltd provided some management Services to Gordon Ltel at a foc of $1020 pad by 30 June 2025 On 1 January 2024, Gordon Ltd sold machinery to Thomas Ltd at again of $4230. This machinery had a carrying amount to Gorcon Lid of SAUDU, and was considered by Thomas Lid to have a further 5-year useful life. By 30 June 2025, the financial assets acquired by Thomas Ltc and Gordon Ltd from external entities increased in value by $2160 and $1417 respectively with gains and losses being recognised in other comprehensive income The income tax rate is BOX REQUIRED 1. Prepare the acquisition analysis at 1 July 2024. (2 marks 2. Prepare the business combination valuation entries and pre-scquisition entre 1 July 2024. S marks) 3. Prepare the business combination valuation cntrics and pre acquisition entries st 30 June 2025. (10 marks 4. Drepare the consolidation worksheet journal entries to eliminate the effects Intragroup transactions at 30 June 2025. (15 marks 5. Discuss the concept of 'realisation using the intragroup transactions in this question 4120 2000 2000 5R50 43200 57760 37080 Gain on sale of Pre the income Total income Cost of Sales Other expenses Total Pepenses Profit before come tax Income tax expense Profit for the period Retained warnings (1 July 2024 39160 18300 5200 49500 9130 2835 6345 12840 14505 6420 Interim dividend paid Retained earnings (30 Jure 2025 19185 5200 13935 2010 18345 Thamasidaruired to shares in Garcianid at 1 y 2004 for $40ADC na cum die basis. At that date, Gordon Ltd recorded share capital of $20600. Gordon Ltd had declareci prior to the acquisition a dividend of $6300 that was paid in September 2024 At 1 July 2024, all identifiable assets and liabilities of Gordon Ltd were recorded at fair value except for inventores, for which the carrying amount was $910 less than fair value. Some of the inventaries have been a little down to sell, and 10% of it is still on hand at 30 June 2025. Inventories on hand in Gordon Ltd at 30 June 2025 also includes some items acquired from Thomas Ltd during the period ended 30 June 2025. These were Sold by Thomas i td for $106.00, at Aprofit before tax of $2040. Half of the goodwill on acquisition of Gordon Led by Thomas Ltd was written oif as the result of an impairment test on 30 kune 2005. During September 20124, Thomas Ltd provided some management services to Gordon Ltd at a fee of $100 d by lune 2012 Un 1 January 2024, Gordon Lid sold machinery to Thomas Led at a gono $4280. This machinery had a carrying amount to Gondold of SANADO, and was considered by Thomas Ltd to have a further 5 year useful life By 30 June 2025, the financial assets acquired by Thomas Ltd and Gordon Ltd from external entities increased in value hy $2160 and $1417 respectively with gains and losses being recognised in other comprehensive Income The income tax rate is 30% REQUIRED 1. Prepare the acquisition analysis at 1 July 2024. (2 marks! 2. Prepare the business combination valuation entries and pre-acquisition entries at 1 July 2024. 15 mark) 3. Prepare the business combination valuation entries and pre-scquisition entries at 30 lure 2025. (10 marks! 4. Prepare the consolidation worksheet Journal entries to allminate the chicts of intragroup transactions at 30 June 2025. (15 marks) 5. Discuss the concept of palisation using the intracraup transactions in this question to Illustrate the concept. (marks) . Prepare the consolidated worksheet for the preparation of the consolidated financial statements for the period ended in 2005. (10) marks) 7. Prepare the consolidated statement of profit and less and other comprehensive income for Thomas Ltel and its subs dlary Gordon Led, at 30 June 2025. (10 marks