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using the template provided work out the journal entries using info given 1 Write your answer as a whole number in the space provided. Do

using the template provided work out the journal entries using info given image text in transcribed
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1 Write your answer as a whole number in the space provided. Do not include a dollar sign ($) or cents in your answer 2 DR CR 3 Goodwill writedown 4 Accumulated imparment loss - Goodwill 5 Retained earnings - 30 June 2019 6 Accumulated imparment loss - Goodwill 7 Retained earnings - 30 June 2020 8 Debentures 9 Debentures (Asset) 10 Debentures (Liabilities) 11 Unrealised profit in inventory 12 Inventory 13 Retained earnings - 30 June 2019 14 Retained earnings - 30 June 2020 15 Total tax effect (all transactions above) 16 Deferred tax asset 17 Deferred tax liability 18 Retained earnings - 30 June 2019 19 Retained earnings - 30 June 2020 20 The tax rate is 30%. All non-controlling interest are valued at the proportionate share of the acquiree's identifiable net assets. Inventory on hand at 30 June 2020 included goods obtained from within the group as follows: Apple Ltd purchased from Banana Ltd, sale price was $10,000 and cost $7.500. Apple Ltd purchased from Cherry Ltd, sale price was $20,000 and cost $18,500 -Banana Lid purchased from Cherry Ltd, sale price was $15,000 and cost $13,800. The directors had applied the impairment test for goodwill annually and determined that a write-down of 53,090 is required for consolidation purposes at 30 June 2020 (write down of goodwill in Banana Ltd is $440 and write down of goodwill in Cherry Ltd is $2,650) with the same amounts deemed to be attributable for the prior period. All debentures (including the debenture from Cherry Ltd to Banana Ltd) is due 30 June 2030. 1 Write your answer as a whole number in the space provided. Do not include a dollar sign ($) or cents in your answer 2 DR CR 3 Goodwill writedown 4 Accumulated imparment loss - Goodwill 5 Retained earnings - 30 June 2019 6 Accumulated imparment loss - Goodwill 7 Retained earnings - 30 June 2020 8 Debentures 9 Debentures (Asset) 10 Debentures (Liabilities) 11 Unrealised profit in inventory 12 Inventory 13 Retained earnings - 30 June 2019 14 Retained earnings - 30 June 2020 15 Total tax effect (all transactions above) 16 Deferred tax asset 17 Deferred tax liability 18 Retained earnings - 30 June 2019 19 Retained earnings - 30 June 2020 20 The tax rate is 30%. All non-controlling interest are valued at the proportionate share of the acquiree's identifiable net assets. Inventory on hand at 30 June 2020 included goods obtained from within the group as follows: Apple Ltd purchased from Banana Ltd, sale price was $10,000 and cost $7.500. Apple Ltd purchased from Cherry Ltd, sale price was $20,000 and cost $18,500 -Banana Lid purchased from Cherry Ltd, sale price was $15,000 and cost $13,800. The directors had applied the impairment test for goodwill annually and determined that a write-down of 53,090 is required for consolidation purposes at 30 June 2020 (write down of goodwill in Banana Ltd is $440 and write down of goodwill in Cherry Ltd is $2,650) with the same amounts deemed to be attributable for the prior period. All debentures (including the debenture from Cherry Ltd to Banana Ltd) is due 30 June 2030

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