prepare the consolidation worksheet entries for Alma Ltd group at 30 june 2019 including supporting calculation

Alma Ltd acquired all the issued shares (ex div.) of Davis Ltd on 1 July 2018 for $1913060. At this date Davis Ltd recorded a dividend payable of $38000 and equity of the following. Share capital Retained earnings General reserve 670000 287000 230000 All the identifiable assets and liabilities of Davis Ltd were recorded at amounts equal to their fair values at acquisition date except for the following; Account Cost Fair value Further life- in Year Inventories Land Machinery Carrying Amount $287,000 $574,000 $670,000 $517,000 $1,033,000 $1,206,000 $804,000 Of the inventories, 90% was sold by 30 June 2019. The remainder was sold by 30 June 2020. In May 2019, Davis Ltd transferred $115000 from the General reserve at 1 July 2018 to a Retained earnings Tax rate:30% Alma Ltd acquired all the issued shares (ex div.) of Davis Ltd on 1 July 2018 for $1913060. At this date Davis Ltd recorded a dividend payable of $38000 and equity of the following. Share capital Retained earnings General reserve 670000 287000 230000 All the identifiable assets and liabilities of Davis Ltd were recorded at amounts equal to their fair values at acquisition date except for the following; Account Cost Fair value Further life- in Year Inventories Land Machinery Carrying Amount $287,000 $574,000 $670,000 $517,000 $1,033,000 $1,206,000 $804,000 Of the inventories, 90% was sold by 30 June 2019. The remainder was sold by 30 June 2020. In May 2019, Davis Ltd transferred $115000 from the General reserve at 1 July 2018 to a Retained earnings Tax rate:30%