Prepare the consolidation worksheet as at 30 June 2020, showing all entries including the corrected entries discussed. Round your answers to zero decimal places.

Transcribed Image Text:

Sales revenue Cost of sales Gross profit Dividend revenue Service fee revenue Proceeds from sale of equipment Depreciation Impairment loss - Goodwill Carrying amount of equipment sold Service fee expense Other expenses Profit before tax Less: Income tax expense Profit for the year Retained earnings (1/7/19) Dividend paid Dividend declared Retained earnings (30/6/20) Share capital General reserve BCVR Shareholders' equity Liabilities Accounts payable Other Payables Dividend payable Deferred Tax Liability Total liabilities Total liabilities & Equity Galway Ltd ($) 180 000 (88 000) 92 000 24 000 90 000 (12 000) (32 000) 162 000 (48 600) 113 400 72 000 (26,000) 159 400 165 000 30 000 354 400 37 000 24 600 26 000 50 000 137 600 492 000 Dublin Ltd ($) 131 000 (58 000) 73 000 148 000 (8 000) (40 000) (90 000) (15 000) 68 000 (20 400) 47 600 80 000 (18 000) 109 600 95 000 25 000 229 600 3 000 9 000 11 000 23 000 252 600 Ref 2 4453 1c 3 1b 1b 1b 1b 4 Adjustments Dr ($) 25 000 18 000 26 000 90 000 120 000 5 000 300 80 000 95 000 25 000 45 000 26 000 Cr ($) 22 000 2 1 000 118 000 90 000 Ref 2 100 3 3 5 2 18 000 4 26 000 4 45,000 la Sales revenue Cost of sales Gross profit Dividend revenue Service fee revenue Proceeds from sale of equipment Depreciation Impairment loss - Goodwill Carrying amount of equipment sold Service fee expense Other expenses Profit before tax Less: Income tax expense Profit for the year Retained earnings (1/7/19) Dividend paid Dividend declared Retained earnings (30/6/20) Share capital General reserve BCVR Shareholders' equity Liabilities Accounts payable Other Payables Dividend payable Deferred Tax Liability Total liabilities Total liabilities & Equity Galway Ltd ($) 180 000 (88 000) 92 000 24 000 90 000 (12 000) (32 000) 162 000 (48 600) 113 400 72 000 (26,000) 159 400 165 000 30 000 354 400 37 000 24 600 26 000 50 000 137 600 492 000 Dublin Ltd ($) 131 000 (58 000) 73 000 148 000 (8 000) (40 000) (90 000) (15 000) 68 000 (20 400) 47 600 80 000 (18 000) 109 600 95 000 25 000 229 600 3 000 9 000 11 000 23 000 252 600 Ref 2 4453 1c 3 1b 1b 1b 1b 4 Adjustments Dr ($) 25 000 18 000 26 000 90 000 120 000 5 000 300 80 000 95 000 25 000 45 000 26 000 Cr ($) 22 000 2 1 000 118 000 90 000 Ref 2 100 3 3 5 2 18 000 4 26 000 4 45,000 la

Answer rating: 100% (QA)

In the bookss of YY Ltd Consolidated Statement of Comprehensive income as on 31... View the full answer