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Spoke Ltd is a wholly owned subsidiary of Wheel Ltd. The transactions for the period ending 30 June 2018 are shown below: Please prepare the

Spoke Ltd is a wholly owned subsidiary of Wheel Ltd. The transactions for the period ending 30 June 2018 are shown below: Please prepare the consolidation adjustments for the group.

Transactions:

1. During the accounting period, Spoke Ltd paid management fees of $24 000 to Wheel Ltd.

2. Spoke declared dividend of $12 000.

3. Wheel issues 2000 debentures with face value of $160, 7% interest rate. Spoke purchased 700 of these debentures on 01/07/2017.

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