inclusion of the equity-accounted results of Ryan Ltd. ated Worksheet entries for the year ended 30 June 2023 for A B U 1 - F E a $$ PO Workings: The consolidation worksheet entries at 30/6/23 are Account Description Dr Cr Type here to search msi Dividend declared Retained earnings at 30/6/23 50 000 100 000 $ 130 000 All dividends may be assumed to be out of the profit for the current year. Dividend revenue is recognised when declared by investees. The equity of Ryan Ltd at 30 June 2023 was as follows Share capital Asset revaluation surplus General reserve Retained earnings $ 20 000 30 000 5000 130 000 The asset revaluation surplus arose from a revaluation of freehold land made at 30 June 2023. The general reserve arose from a transfer from retained earnings in June 2022. Required Assume Shaama Ltd does prepare consolidated financial statements. Prepare the consolidated worksheet entries for the year ended 30 June 2023 for inclusion of the equity-accounted results of Ryan Ltd. 1 A-BU1 - Ff EJE % $$ O Workings: e here to search msi On 1 July 2021, Shaama Ltd acquired a 30% interest in one of its suppliers, Ryan Ltd, at a cost of $13 650. The directors of Shaama Ltd believe they exe "significant influence over Ryan Ltd. The equity of Ryan Ltd at acquisition date was as follows. Share capital (20 000 shares) Retained earnings $20 000 10 000 All the identifiable assets and liabilities of Ryan Ltd at 1 July 2021 were recorded at fair values except for some depreciable non-current assets with a fai value of $15 000 greater than carrying amount. These depreciable assets are expected to have a further 5-year life. Additional information At 30 June 2023, Shaama Ltd had inventories costing $100 000 (2022: $60 000) on hand which had been purchased from Ryan Ltd. A profit before of $30 000 (2022: $10 000) had been made on the sale. Assume a tax rate of 30% applies. Information about income and changes in equity of Ryan Ltd as at 30 June 2023 is as follows. $ 360 000 Profit before tax 180 000 Income tax expense 180 000 Profit Retained earnings at 1/7/22 50 000 230 000 $ 50 000 100 000 50 000 Dividend paid Dividend declared Retained earnings at 30/6/23 130 000 All dividends may be assumed to be out of the profit for the current year. Dividend revenue is recognised when declared by investees. inclusion of the equity-accounted results of Ryan Ltd. ated Worksheet entries for the year ended 30 June 2023 for A B U 1 - F E a $$ PO Workings: The consolidation worksheet entries at 30/6/23 are Account Description Dr Cr Type here to search msi Dividend declared Retained earnings at 30/6/23 50 000 100 000 $ 130 000 All dividends may be assumed to be out of the profit for the current year. Dividend revenue is recognised when declared by investees. The equity of Ryan Ltd at 30 June 2023 was as follows Share capital Asset revaluation surplus General reserve Retained earnings $ 20 000 30 000 5000 130 000 The asset revaluation surplus arose from a revaluation of freehold land made at 30 June 2023. The general reserve arose from a transfer from retained earnings in June 2022. Required Assume Shaama Ltd does prepare consolidated financial statements. Prepare the consolidated worksheet entries for the year ended 30 June 2023 for inclusion of the equity-accounted results of Ryan Ltd. 1 A-BU1 - Ff EJE % $$ O Workings: e here to search msi On 1 July 2021, Shaama Ltd acquired a 30% interest in one of its suppliers, Ryan Ltd, at a cost of $13 650. The directors of Shaama Ltd believe they exe "significant influence over Ryan Ltd. The equity of Ryan Ltd at acquisition date was as follows. Share capital (20 000 shares) Retained earnings $20 000 10 000 All the identifiable assets and liabilities of Ryan Ltd at 1 July 2021 were recorded at fair values except for some depreciable non-current assets with a fai value of $15 000 greater than carrying amount. These depreciable assets are expected to have a further 5-year life. Additional information At 30 June 2023, Shaama Ltd had inventories costing $100 000 (2022: $60 000) on hand which had been purchased from Ryan Ltd. A profit before of $30 000 (2022: $10 000) had been made on the sale. Assume a tax rate of 30% applies. Information about income and changes in equity of Ryan Ltd as at 30 June 2023 is as follows. $ 360 000 Profit before tax 180 000 Income tax expense 180 000 Profit Retained earnings at 1/7/22 50 000 230 000 $ 50 000 100 000 50 000 Dividend paid Dividend declared Retained earnings at 30/6/23 130 000 All dividends may be assumed to be out of the profit for the current year. Dividend revenue is recognised when declared by investees