Task 7 a. Complete the consolidation worksheet. Consolidation Worksheet 30 June 2017 Sales Inventory 01/07/2016 Consolidated Statements South Ltd West Ltd Eliminations Dr Cr 900,000 500,000 70,000 60,000 510.000 580,000 Purchases 400.000 460,000 Inventory 30/06/2017 Less Cost of Goods Sold 90.000 490,000 80.000 380,000 120,000 40.000 80,000 Gross Profit 410,000 210.000 200,000 Expenses Add Other Income Profit on Sale of Plant 10,000 Interest Income 750 Dividends from West Ltd Profit before Tax 30.000 240,750 80,000 Less Income Tax expense 90.000 150,750 80,000 230,750 30.000 50.000 40,000 90,000 Profit Retained Earnings 01/07/2016 Available Appropriations: Dividend - Paid Dividend - Declared 40,000 50,000 30,000 20,000 Total Appropriations Retained Earnings 30/06/2017 General Reserve 50.000 40,000 50,000 90.000 140,750 100,000 Share Capital Dividend Payable Other Current Liabilities Non-Current Liabilities 200,000 50,000 100,000 20,000 60,000 20,000 290,000 110,000 60,000 660,750 Shares in West Ltd 160,000 Plant and Equipment (net) Inventory Other Assets 260,000 90,000 150,750 120,000 80,000 90,000 Goodwill on Consolidation Accum Impairment - Goodwill 660,750 290,000
Task 7 a. Complete the consolidation worksheet. Consolidation Worksheet 30 June 2017 Sales Inventory 01/07/2016 Consolidated Statements South Ltd West Ltd Eliminations Dr Cr 900,000 500,000 70,000 60,000 510.000 580,000 Purchases 400.000 460,000 Inventory 30/06/2017 Less Cost of Goods Sold 90.000 490,000 80.000 380,000 120,000 40.000 80,000 Gross Profit 410,000 210.000 200,000 Expenses Add Other Income Profit on Sale of Plant 10,000 Interest Income 750 Dividends from West Ltd Profit before Tax 30.000 240,750 80,000 Less Income Tax expense 90.000 150,750 80,000 230,750 30.000 50.000 40,000 90,000 Profit Retained Earnings 01/07/2016 Available Appropriations: Dividend - Paid Dividend - Declared 40,000 50,000 30,000 20,000 Total Appropriations Retained Earnings 30/06/2017 General Reserve 50.000 40,000 50,000 90.000 140,750 100,000 Share Capital Dividend Payable Other Current Liabilities Non-Current Liabilities 200,000 50,000 100,000 20,000 60,000 20,000 290,000 110,000 60,000 660,750 Shares in West Ltd 160,000 Plant and Equipment (net) Inventory Other Assets 260,000 90,000 150,750 120,000 80,000 90,000 Goodwill on Consolidation Accum Impairment - Goodwill 660,750 290,000
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Please find the attached screenshot of the question and you will be able to solve the question. it is just a consolidation worksheet.
The data is complete and accurate.
thank you!
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