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Cumllda'iiun winks :1 Hams: -' ACCTZO" 2(ll7 Semester? ' hSydnev' l' . .v ' ' ' VC'HSC'M dth'rWVOl'hSle-Zt E'n l'clseE Fll: Edn View Fevuma Tools Help Please camplele the worksheet below and enter 1he amount of NerAsset as the 'Answer' Mm yet mwed A Ltd 3 Ltd Adi. Debit Adj. Cred 0 Total Marked um ufl Sales revenue $00,000 $50,000 P Flag mum Odie: income 0,000 0,000 10075 Cllet expenses $22,000 $15,000 Piel beloie tax $60,000 $41,000 Tax expense $18,000 $10,000 PmlTl after tax $46,000 31,000 Rammed Eamlngs, 1/7/13 $60,000 $14,000 Dividend declared 0,000 5,000 Relalned Eamlngs, 30mm $100,000 340,000 Share (Lapnal $110,000 00,000 Revaluallun surplus $28,000 $20,000 Tam/Shareholders' Equlg/ $278,000 $140,000 Niki: Cash $50,000 345,000 Accuunti Receivable $50,000 530,000 Dividend reoelva ble $5,000 51,000 Imemory $55,000 33,000 Plant $120,000 $00,000 ecimlcal Support Accumulated deprecuanon $40,000 20,000 Imeslmenl in E Ltd $130,000 Goedwul en cumulldatiun Talal assets $370,000 liabilities Accounts payable $14,000 Dividend payable $0,000 Loan payable $100,000 Uneamed revenue $10,000 Tmal liabilnies $132,000 NetAme-ts $238,000 \fCansatidatmn Worksheet 3: '4 L 5; Accounting for group structures Consolldation WarLsheet . Evarcl: arena-.1 Green Ltd acquires all the shares ufalue Ltd 31 1 July 2009. The Ocnsclldamon worksheet prepared lpr consolidation at 30 June 2012 is shown belew: Nntrm answered Green Ltd alue Ltd Dr. Adjust. Cr. Acijust. Group Mmkedamd 1 m Sales Revenue $14,500 $1,700 Dlvldend revenue $50 $511 Total revenue $1 4, 550 $1,700 Finish attempt . Less expenses $2,000 $800 Prot for the year $12,550 $900 Add: retained earnings 1/7/2011 $5,000 $250 Less: drvldend paid $20 Less: dwldend declared $30 Retained eamlngs 30/12/2012 $17,550 $1,100 Share capllal $7,000 $290 Revaluation surplus $60 Shareholders' equity $24, 550 $1,450 Aieis Dlvldend recelva ble $30 Goedwill $40 Other assets $31,470 $1,520 investment in Blue Ltd $600 Total assets $32,100 $1,660 Less: liabilities Borrowings $7, 550 $130 Diwdends payable $30 $30 Nel assets $24, 550 $1,450 Complete the consolidation workshee'l above ano ll 111 the amount of 'oonsolldated' net assets (or total shareholders' equity} in the answer block below: y Flag queslion Answer: row Favarlls Tank Hely ;h revlew arr-era... I lncurrert Mark 0.00 mil of 'l 00 V Flag quasuarl Grade 0.00 out {If 10.00 (am Please complete the fulluwlng consolidation worksheet wlth group adjushrlg/ elinnnenon entnes oosled/ provided. Upon completion or Ihe worksheet and derlve the censulldated group data column, enter the amount or NetAscerl-rml as answer below: Accuunls Sales Revenue Cost of sales: lmentory, 1/7/l 3 Purdrases Imerlloly, 30/6/14 Cost of sales Gross prefrl Other expenses Subtotal Dlvidend revenue Imerest revenue Operating pmt before tax Income tax excerlse Operating prafll aFterlax Re'lalned Earnlrlgs, 1/7/I3 Interlm divldend Proposed divldend Transfer to General Reserve Retained Earnings, 30/6/14 Shane capirsl General Reserve Tmal shereholders' aquny Assets Imentory other current assets Shares in Z le Debentures of A Oler llorlrclArrerlt Goodwill total assets Llabilitles 12% debemnre Prnvlsmn For dlvidend Other current liabilities Tmal liabllnies Net Assets A Ltd 5025, 500 35,000 425,000 543,000 541 7,000 5203, 500 tlalplz 07,407 25,000 50 92,407 32,000 500,407 530,000 20,000 17,500 2,000 50,907 $331,200 $10,000 $3021 07 43,000 51 30, l 87 290,000 523,500 $485,687 $30,000 17,500 547,000 $94,500 53021 07 Z Ltd $490,000 $42,000 $327,000 $37,000 $332,000 $l 50.000 $1 04,390 sown in $900 $02,010 $20,110 $33,900 $25,000 sl 2,500 $1 2,500 $5,000 $20, 900 $250,000 $l 5,000 $203,900 $37,000 $33,900 $10,000 $257,500 $338,400 $1 2, 500 $32,000 $44,500 $293.91\") Dr Adlustmenl $25,000 $25,000 $250,000 $15,000 $12,500 Answer: 536987 X Cr Adjustment Consolldated 12,500 12,500 xxx $12,500 $290,000 XXX Hon Flnlsh attempt .. Nntyel answered Malked eutal 1 00 '7 Flag questien On 1 July 2012 Satah Ltd acquires all the shares In Jane Ltd for $701,000 cash The nanclal statemenb of Jane Ltd as at I July 2012 ahewa the lellewrng: Retained earnings 1 53,000 share capital The tax rate is 30% At the date at acqulslllon all the net ae's etJane Ltd are at fall value except for the Fullowlng: 237,000 nanying amount Falr value Equlpment {cost $239,000) $152,000 $227,000 The equipment has a lunher 1 3 yeara et uaehrl life. All consolldalion entrres en 30 June 2017 are shown below: Dr. Reta lned earnlngs $103,000 Dr. Share capital $237,000 Dr. BCVR Dr. Goodwlll Cr. Investment in Jane Ltd $701,000 Dr. Accumulatm depreciation 739,000 152,000 Dr.(or CL) Equipment Cr. BCVR 227,000 r 52,000) x 70% Cr. DTL 227,000 r 62,000) x 30% Dr. Reta lned earnlngs xxx Dr. Deplecla'lion expense 227,0007152r000H 13 Cl. Accumulated deprecratron Dr. DTL Cr. lncerne ta): expense (227,0007152.000Dx30%/13 Cr. Renamed eaming Complete the consolidatlnn luumals above and enter the amount of xxx (retained earn lngs) .n the answer block below: Answer: Flnlsh attempt T cllll tca| Sllppol'l D t [I Finish attemg .. 10 Q'mn I On I July 2015 Sarah Lid acquires all the shares in Jane Lid fer $740,000 cash "mymwe'ed The financial statemenh of Jane Ltd as at 1 July 2015 shows the following: Marked nul M1110 P Flag quasuan Emailed ennui-age 170,000 Shale capital Human The tax late is 307: Al the date etaequiaitmn ail the net aaaee ouane Ltd are ai Fair value except lo. the following: Carrying amount Fair Value Land $124,000 $137,000 Equipment (cost $193,000) 5i 31,000 $194,000 The land was sold on I April 2018 for 240,000 All wotlslleex adjustment entries at dam ufconsolldallori on 30 June 2020 are as follows: Dr. Rmained earn'ings \"76,000 Dr. Share capital \"70,000 DI. BCVR 388200 Dr. Goodwill Cr. Inveeiment in Jane Ltd 746,000 DI. Rmalned earnings (137,000424,000)x70% Cr. BCVR (impaneizapooixwx DI. Accumulated depreciation 193.0007131300 DMD! Cr.) Equipment Cr. BCVR (l94,000131,000lx70% Cr. DTL [194,0007131900lxm Dr. Rammed earnings 16 l4x(194,0007131,000)/ DI. Depreciation expense (194,00043i,0m)/1a ci. Accumulaled deprecialion 5xl l94,000l31,000l/1b DI. DTL xxx Cr. lncume tax expense (194,0007131900lx30'1/Ib CL Retained earning Calculahe and emer Ihe amuum of xxx (DTL) 'in the answer block below: Answer: Technical Supim

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