On 01 July 2020 Sunshine Manufacturing Lid acquired all the issued shares of Goldcoast Lid for $ 227000 The equity of Goldcoast at this date is as foliows Share capital 65000 Retained earings 36000 All the idertifiable assets and liabilities of Goldcoast Lid were recorded at amourts equal to their fair values at acquisition date except for Carrying amount Fair value Inventory 82000 88000 Machine (the costis: 78000) 57000 54000 The equipment was considered to have a further useful se 5 years of the inventory 80% was sold by 30 June 2021 The following information was provided by the two companies at 30 Jure 2021 Surshine Golcan Profit before tax 112000 12500 Income tax expense 56000 4200 Profit for the year 54000 8300 Retained earnings (01/07/2020) 80000 36000 Retained earnings (30/062021) 144000 44300 Share capital 360000 65000 Retained earings 144000 44300 General reserve 10000 0 Asset revaluation surplus 18500 0 abilities 128500 22000 661000 131300 Land 129000 20000 Purt and Equipment 360000 125000 Acousted depreciation -110000 -33000 Inventory 55000 18700 Investment in Goldcoast 227000 0 61000 131.300 In addition, there are some intrs group transactions between Sunshine and Goldcoast shown below a During the year. Sunshine sold inventory costing 4500 to Goldcoast for 6000 At the end of the year, 30% of the inventory is still held on and by Goldcoast b. on 1 January 2021, Goldcoast told a plort to Sunshine. The plant has carrying amount of 115,000 Goldcoast sold it to Surohire for 130,000 The remaining used ste is estimated to be 5 years Required Prepare the Acquation analysis. Consoldation Adjustments, Worksheet and comolidated financial statements of Sunshine Manufacturing Lid at 30 June 2021 ningcomoidosion worksheet On 01 July 2020 Sunshine Manufacturing Lid acquired all the issued shares of Goldcoast Lid for $ 227000 The equity of Goldcoast at this date is as foliows Share capital 65000 Retained earings 36000 All the idertifiable assets and liabilities of Goldcoast Lid were recorded at amourts equal to their fair values at acquisition date except for Carrying amount Fair value Inventory 82000 88000 Machine (the costis: 78000) 57000 54000 The equipment was considered to have a further useful se 5 years of the inventory 80% was sold by 30 June 2021 The following information was provided by the two companies at 30 Jure 2021 Surshine Golcan Profit before tax 112000 12500 Income tax expense 56000 4200 Profit for the year 54000 8300 Retained earnings (01/07/2020) 80000 36000 Retained earnings (30/062021) 144000 44300 Share capital 360000 65000 Retained earings 144000 44300 General reserve 10000 0 Asset revaluation surplus 18500 0 abilities 128500 22000 661000 131300 Land 129000 20000 Purt and Equipment 360000 125000 Acousted depreciation -110000 -33000 Inventory 55000 18700 Investment in Goldcoast 227000 0 61000 131.300 In addition, there are some intrs group transactions between Sunshine and Goldcoast shown below a During the year. Sunshine sold inventory costing 4500 to Goldcoast for 6000 At the end of the year, 30% of the inventory is still held on and by Goldcoast b. on 1 January 2021, Goldcoast told a plort to Sunshine. The plant has carrying amount of 115,000 Goldcoast sold it to Surohire for 130,000 The remaining used ste is estimated to be 5 years Required Prepare the Acquation analysis. Consoldation Adjustments, Worksheet and comolidated financial statements of Sunshine Manufacturing Lid at 30 June 2021 ningcomoidosion worksheet On 01 July 2020 Sunshine Manufacturing Lid acquired all the issued shares of Goldcoast Lid for $ 227000 The equity of Goldcoast at this date is as foliows Share capital 65000 Retained earings 36000 All the idertifiable assets and liabilities of Goldcoast Lid were recorded at amourts equal to their fair values at acquisition date except for Carrying amount Fair value Inventory 82000 88000 Machine (the costis: 78000) 57000 54000 The equipment was considered to have a further useful se 5 years of the inventory 80% was sold by 30 June 2021 The following information was provided by the two companies at 30 Jure 2021 Surshine Golcan Profit before tax 112000 12500 Income tax expense 56000 4200 Profit for the year 54000 8300 Retained earnings (01/07/2020) 80000 36000 Retained earnings (30/062021) 144000 44300 Share capital 360000 65000 Retained earings 144000 44300 General reserve 10000 0 Asset revaluation surplus 18500 0 abilities 128500 22000 661000 131300 Land 129000 20000 Purt and Equipment 360000 125000 Acousted depreciation -110000 -33000 Inventory 55000 18700 Investment in Goldcoast 227000 0 61000 131.300 In addition, there are some intrs group transactions between Sunshine and Goldcoast shown below a During the year. Sunshine sold inventory costing 4500 to Goldcoast for 6000 At the end of the year, 30% of the inventory is still held on and by Goldcoast b. on 1 January 2021, Goldcoast told a plort to Sunshine. The plant has carrying amount of 115,000 Goldcoast sold it to Surohire for 130,000 The remaining used ste is estimated to be 5 years Required Prepare the Acquation analysis. Consoldation Adjustments, Worksheet and comolidated financial statements of Sunshine Manufacturing Lid at 30 June 2021 ningcomoidosion worksheet On 01 July 2020, Sunshine Manufacturing Ltd acquired all the issued shares of Goldcoast Ltd for $ 227000 The equity of Goldcoast at this date is as follows: Share capital $ 65000 Retained earnings 36000 All the identifiable assets and liabilities of Goldcoast Ltd were recorded at amounts equal to their fair values at acquisition date except for Carrying amount Fair value Inventory 82000 88000 Machine (the cost is: 78000) 54000 57000 5 years The equipment was considered to have a further useful life: of the inventory 80% was sold by 30 June 2021. The following information was provided by the two companies at 30 June 2021. Sunshine Goldcoast Profit before tax 112000 12500 Income tax expense 56000 4200 Profit for the year 64000 8300 Retained earnings (01/07/2020) 80000 36000 Retained earnings (30/06/2021) 144000 44300 Share capital 360000 65000 Retained eamings 144000 44300 General reserve 10000 0 Asset revaluation surplus 18500 0 liabilities 128500 22000 661000 131300 Land 129000 20000 Plant and Equipment 360000 125600 Accumulated depreciation -110000 -33000 inventory 55000 18700 Investment in Goldcoast 227000 0 661000 131300 In addition, there are some intra-group transactions between Sunshine and Goldcoast shown below a During the year, Sunshine sold inventory costing 4500 to Goldcoast for 6000. At the end of the year, 30% of the inventory is stil heid on hand by Goldcoast. bon 1 January 2021, Goldcoast sold a part to Sunshine The plant has carying amount of 115.000 Goldcoast sold it to Sunshine for 130,000 The remaining useful life is estimated to be 5 years Required Prepare the Acquenon aralysis, Consolation Almere. Worksheet and comolded in Matements of Sunan Manfacturing Lid at 30 Jure 2021 using consolation worksheet On 01 July 2020 Sunshine Manufacturing Lid acquired all the issued shares of Goldcoast Lid for $ 227000 The equity of Goldcoast at this date is as foliows Share capital 65000 Retained earings 36000 All the idertifiable assets and liabilities of Goldcoast Lid were recorded at amourts equal to their fair values at acquisition date except for Carrying amount Fair value Inventory 82000 88000 Machine (the costis: 78000) 57000 54000 The equipment was considered to have a further useful se 5 years of the inventory 80% was sold by 30 June 2021 The following information was provided by the two companies at 30 Jure 2021 Surshine Golcan Profit before tax 112000 12500 Income tax expense 56000 4200 Profit for the year 54000 8300 Retained earnings (01/07/2020) 80000 36000 Retained earnings (30/062021) 144000 44300 Share capital 360000 65000 Retained earings 144000 44300 General reserve 10000 0 Asset revaluation surplus 18500 0 abilities 128500 22000 661000 131300 Land 129000 20000 Purt and Equipment 360000 125000 Acousted depreciation -110000 -33000 Inventory 55000 18700 Investment in Goldcoast 227000 0 61000 131.300 In addition, there are some intrs group transactions between Sunshine and Goldcoast shown below a During the year. Sunshine sold inventory costing 4500 to Goldcoast for 6000 At the end of the year, 30% of the inventory is still held on and by Goldcoast b. on 1 January 2021, Goldcoast told a plort to Sunshine. The plant has carrying amount of 115,000 Goldcoast sold it to Surohire for 130,000 The remaining used ste is estimated to be 5 years Required Prepare the Acquation analysis. Consoldation Adjustments, Worksheet and comolidated financial statements of Sunshine Manufacturing Lid at 30 June 2021 ningcomoidosion worksheet On 01 July 2020 Sunshine Manufacturing Lid acquired all the issued shares of Goldcoast Lid for $ 227000 The equity of Goldcoast at this date is as foliows Share capital 65000 Retained earings 36000 All the idertifiable assets and liabilities of Goldcoast Lid were recorded at amourts equal to their fair values at acquisition date except for Carrying amount Fair value Inventory 82000 88000 Machine (the costis: 78000) 57000 54000 The equipment was considered to have a further useful se 5 years of the inventory 80% was sold by 30 June 2021 The following information was provided by the two companies at 30 Jure 2021 Surshine Golcan Profit before tax 112000 12500 Income tax expense 56000 4200 Profit for the year 54000 8300 Retained earnings (01/07/2020) 80000 36000 Retained earnings (30/062021) 144000 44300 Share capital 360000 65000 Retained earings 144000 44300 General reserve 10000 0 Asset revaluation surplus 18500 0 abilities 128500 22000 661000 131300 Land 129000 20000 Purt and Equipment 360000 125000 Acousted depreciation -110000 -33000 Inventory 55000 18700 Investment in Goldcoast 227000 0 61000 131.300 In addition, there are some intrs group transactions between Sunshine and Goldcoast shown below a During the year. Sunshine sold inventory costing 4500 to Goldcoast for 6000 At the end of the year, 30% of the inventory is still held on and by Goldcoast b. on 1 January 2021, Goldcoast told a plort to Sunshine. The plant has carrying amount of 115,000 Goldcoast sold it to Surohire for 130,000 The remaining used ste is estimated to be 5 years Required Prepare the Acquation analysis. Consoldation Adjustments, Worksheet and comolidated financial statements of Sunshine Manufacturing Lid at 30 June 2021 ningcomoidosion worksheet On 01 July 2020 Sunshine Manufacturing Lid acquired all the issued shares of Goldcoast Lid for $ 227000 The equity of Goldcoast at this date is as foliows Share capital 65000 Retained earings 36000 All the idertifiable assets and liabilities of Goldcoast Lid were recorded at amourts equal to their fair values at acquisition date except for Carrying amount Fair value Inventory 82000 88000 Machine (the costis: 78000) 57000 54000 The equipment was considered to have a further useful se 5 years of the inventory 80% was sold by 30 June 2021 The following information was provided by the two companies at 30 Jure 2021 Surshine Golcan Profit before tax 112000 12500 Income tax expense 56000 4200 Profit for the year 54000 8300 Retained earnings (01/07/2020) 80000 36000 Retained earnings (30/062021) 144000 44300 Share capital 360000 65000 Retained earings 144000 44300 General reserve 10000 0 Asset revaluation surplus 18500 0 abilities 128500 22000 661000 131300 Land 129000 20000 Purt and Equipment 360000 125000 Acousted depreciation -110000 -33000 Inventory 55000 18700 Investment in Goldcoast 227000 0 61000 131.300 In addition, there are some intrs group transactions between Sunshine and Goldcoast shown below a During the year. Sunshine sold inventory costing 4500 to Goldcoast for 6000 At the end of the year, 30% of the inventory is still held on and by Goldcoast b. on 1 January 2021, Goldcoast told a plort to Sunshine. The plant has carrying amount of 115,000 Goldcoast sold it to Surohire for 130,000 The remaining used ste is estimated to be 5 years Required Prepare the Acquation analysis. Consoldation Adjustments, Worksheet and comolidated financial statements of Sunshine Manufacturing Lid at 30 June 2021 ningcomoidosion worksheet On 01 July 2020, Sunshine Manufacturing Ltd acquired all the issued shares of Goldcoast Ltd for $ 227000 The equity of Goldcoast at this date is as follows: Share capital $ 65000 Retained earnings 36000 All the identifiable assets and liabilities of Goldcoast Ltd were recorded at amounts equal to their fair values at acquisition date except for Carrying amount Fair value Inventory 82000 88000 Machine (the cost is: 78000) 54000 57000 5 years The equipment was considered to have a further useful life: of the inventory 80% was sold by 30 June 2021. The following information was provided by the two companies at 30 June 2021. Sunshine Goldcoast Profit before tax 112000 12500 Income tax expense 56000 4200 Profit for the year 64000 8300 Retained earnings (01/07/2020) 80000 36000 Retained earnings (30/06/2021) 144000 44300 Share capital 360000 65000 Retained eamings 144000 44300 General reserve 10000 0 Asset revaluation surplus 18500 0 liabilities 128500 22000 661000 131300 Land 129000 20000 Plant and Equipment 360000 125600 Accumulated depreciation -110000 -33000 inventory 55000 18700 Investment in Goldcoast 227000 0 661000 131300 In addition, there are some intra-group transactions between Sunshine and Goldcoast shown below a During the year, Sunshine sold inventory costing 4500 to Goldcoast for 6000. At the end of the year, 30% of the inventory is stil heid on hand by Goldcoast. bon 1 January 2021, Goldcoast sold a part to Sunshine The plant has carying amount of 115.000 Goldcoast sold it to Sunshine for 130,000 The remaining useful life is estimated to be 5 years Required Prepare the Acquenon aralysis, Consolation Almere. Worksheet and comolded in Matements of Sunan Manfacturing Lid at 30 Jure 2021 using consolation worksheet