ignore the line they have been included in the above fair value measure of the inventory

18.25 Data adjustments for fair value and missing data at control date The Dali Group consisted of Dali Ltd, the parent, and its subsidiary, Gleeson Pty Ltd. On 31 December 20X6, Dali gained control of Drysdale by purchasing all its share capital for $250000. The purchase was based on the following fair values for Drysdale assets, which differ from their carrying amounts: $ Accounts receivable 21 400 Inventory 31000 Patents (not recorded by Drysdale) 15000 Equipment assets 170000 Financial statements of the three companies at the control date are shown in the worksheet below. At this date: Gleeson has made a $400 payment to Dali, which has not yet received it. Dali has shipped inventory goods to Gleeson invoiced at $900. Drysdale has not yet received these goods or recorded them, but they have been included in the above fair value measure of the inventory. Drysdale applies the cost model to equipment. (a) Complete the worksheet below up to the sum column. (6) Prepare data adjustments in alternative general journal form with appropriate commentaries. Consolidation worksheet at 31 December 20X6: Balance sheet (data preparation) Dali Gleeson Drysdale Data adjustments Dr Cr Paid-up capital 545000 150000 175 000 Asset revaluation reserve 150 000 25 000 Sum Other reserves Retained protits Owners' equity 60000 40000 795000 19000 194 000 5000 10000 190 000 Accounts payable Estimated uncollectible debts Accumulated depreciation equipment Total equities and asset contras 75 000 15 000 100 000 985 000 40 500 2 500 38000 275000 60000 800 33 000 283800 5000 150 000 60000 650000 35000 25 000 55000 Cash Accounts receivable Inventory Investment in subsidiaries Patents Equipment 25 500 24 300 35 000 120000 160 000 199 000 Total assets 985000 275 000 283 800 18.25 Data adjustments for fair value and missing data at control date The Dali Group consisted of Dali Ltd, the parent, and its subsidiary, Gleeson Pty Ltd. On 31 December 20X6, Dali gained control of Drysdale by purchasing all its share capital for $250000. The purchase was based on the following fair values for Drysdale assets, which differ from their carrying amounts: $ Accounts receivable 21 400 Inventory 31000 Patents (not recorded by Drysdale) 15000 Equipment assets 170000 Financial statements of the three companies at the control date are shown in the worksheet below. At this date: Gleeson has made a $400 payment to Dali, which has not yet received it. Dali has shipped inventory goods to Gleeson invoiced at $900. Drysdale has not yet received these goods or recorded them, but they have been included in the above fair value measure of the inventory. Drysdale applies the cost model to equipment. (a) Complete the worksheet below up to the sum column. (6) Prepare data adjustments in alternative general journal form with appropriate commentaries. Consolidation worksheet at 31 December 20X6: Balance sheet (data preparation) Dali Gleeson Drysdale Data adjustments Dr Cr Paid-up capital 545000 150000 175 000 Asset revaluation reserve 150 000 25 000 Sum Other reserves Retained protits Owners' equity 60000 40000 795000 19000 194 000 5000 10000 190 000 Accounts payable Estimated uncollectible debts Accumulated depreciation equipment Total equities and asset contras 75 000 15 000 100 000 985 000 40 500 2 500 38000 275000 60000 800 33 000 283800 5000 150 000 60000 650000 35000 25 000 55000 Cash Accounts receivable Inventory Investment in subsidiaries Patents Equipment 25 500 24 300 35 000 120000 160 000 199 000 Total assets 985000 275 000 283 800