I only want the journal entries for this question. This is advanced accounting
Below are the Balance Sheets of Alpha. Beta and Gamma Ltd for the year to 31 Notes: December 2007 Alpha Beta Gamma Plant Assets 450 80 50 Investment in: Beta 300 - - Gamma 153 Inventory l97 NO 50 AIR ISO 95 30 Cash 50 63 40 Total Assets 1330 348 170 Al? 200 40 14 Share capital 700 200 100 Retained earnings 430 108 56 Total liabilities and equity 1330 348 HO i) Alpha bought 75% of the share capital of Beta on l/l/2006 when Bcla's retained earnings were 60 ii) Alpha bought 80% of the share capital of Gamma on l/l/2007 when iii) iv) Gamma's retained earnings were 32. The inventory of Alpha includes inventory bought from Beta for 50. Beta sold this inventory at cost plus a 25% mark-up. All the inventory remains unsold by Alpha. in lll/2007. Alpha sold a fixed asset to Beta for 80. It had originallyNotes: 'I otal Assets IJJU 345 I'll! MP 200 40 14 Share capital 700 200 100 Retained earnings 430 108 56 Total liabilities and equity 1330 348 170 ii) iii) iv) V) Alpha bought 75% of the share capital of Beta on Ill/2006 when Beta's retained earnings were 60 Alpha bought 80% of the share capital of Gamma on l/l/2007 when Gamma's retained earnings were 32. The inventory of Alpha includes inventory bought from Beta for 50 Beta sold this inventory at cost plus a 25% mark-up. All the inventory remains unsold by Alpha. in il 1/2007. Alpha sold a fixed asset to Beta for 80. It had originally bought it in 2001 for l()(). It used straight-line depreciation based on a life of ten years (including full year depreciation in year of purchase). Beta depreciates this asset over its remaining life using straight line method. The AIR of Alpha includes lO due for Beta. Beta paid back this amount on 22 December 2007, but Alpha has not entered this into its accounts yet. The goodwill on the acquisition of Gamma has been impaired by an estimated 5()% in 2007. Required