Question
Prepare the consolidation journal / worksheet entries for Ghostbusters Ltd for 30/6/2020. Update and complete the consolidation worksheet for 30/6/2020. Use the following worksheet please
Prepare the consolidation journal / worksheet entries for Ghostbusters Ltd for 30/6/2020.
Update and complete the consolidation worksheet for 30/6/2020. Use the following worksheet please
Financial Statements | Ghost Ltd | Bat Ltd | Adjustments | Group | |||
Dr | Cr | ||||||
Sales revenue | 220 000 | 182 000 |
| ||||
Other income | 62 000 | 20 000 |
| ||||
282 000 | 202 000 |
| |||||
Cost of sales | 162 000 | 128 000 |
| ||||
Other expenses | 53 000 | 41 000 |
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215 000 | 169 000 |
| |||||
Trading profit | 67 000 | 33 000 |
| ||||
Gains/losses on sale of non-current assets | 22 000 | 25 000 |
| ||||
Profit before tax | 89 000 | 58 000 |
| ||||
Tax expense | 20 000 | 18 000 |
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Profit | 69 000 | 40 000 |
| ||||
Retained earnings (1/7/19) | 30 000 | 45 000 |
| ||||
Transfer from BCV reserve | 0 | 0 |
| ||||
99 000 | 85 000 |
| |||||
Dividend paid | 12 000 | 10 000 |
| ||||
Dividend declared | 6 000 | 4 000 |
| ||||
18 000 | 14 000 |
| |||||
Retained earnings (30/6/20) | 81 000 | 71 000 |
| ||||
Share capital | 312 000 | 200 000 |
| ||||
General reserve | 20 000 | 25 000 |
| ||||
BCVR | - | - |
| ||||
Total Equity | 413 000 | 296 000 |
| ||||
Deferred tax liabilities | - | - |
| ||||
Dividend payable | 6 000 | 4 000 |
| ||||
Current tax liability | 8 000 | 2 500 |
| ||||
Loan from Ghost Ltd | - | 12 000 |
| ||||
Provisions | 78 000 | 169 500 |
| ||||
Total Liabilities | 92 000 | 188 000 |
| ||||
Total Liabilities + Equity | 505 000 | 484 000 |
|
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