Question 22 - Financial Statement Sample Worksheet (provided for reference onlynot to be completed)

Hutch Ltd.Hexco Ltd.Journal Entries Consolidated

12/30/201812/30/2018DebitCredit12/30/2018

$$

Assets

Plant and equipment400,000270,000

Inventory120,000102,000

Accounts receivable45,00048,000

Cash431,000 60,000___________

996,000 480,000___________

Liabilities

Current liabilities296,00072,000

Bonds payable240,000 108,000___________

536,000 180,000 ___________

Shareholder's Equity

Common shares260,000120,000

Retained earnings200,000 180,000____________

460,000300,000_ ___________

Total Liabilities and

Shareholder's Equity996,000 480,000 ___________