Assignment Question On 01 July 2020, The equity of Huong at this date is as follows: Inventory Equipment (the cost is: Profit before tax Income tax expense Profit for the year All the identifiable assets and liabilities of Moss Ltd were recorded at amounts equal to their fair values at acquisition date except for: Carrying amount 34000 30000 The equipment was considered to have a further useful life: Of the inventory, Retained earnings (01/07/2020) Retained earnings (c30/06/2021) Share capital Retained earnings General reserve Asset revaluation surplus liabilities Land Plant and Equipment Accumulated depreciation Walker Ltd acquired all the issued shares of Moss Ltd for $ The following information was provided by the two companies at 30 June 2021. Walker inventory Investment in Moss Share capital Retained earnings 36000) Mark allocation Acquisition analysis. Adjustments Worksheet Consolidated financial statements. Total Out of 20 Moss 80% was sold by 30 June 2021. 97000 56000 41000 80000 121000 360000 121000 10000 18500 128500 638000 121000 402000 130600 -110000 -33000 55000 18700 170000 0 638000 136300 12500 4200 8300 41000 49300 65000 49300 $ 0 0 22000 136300 20000 In addition, there are some intra-group transactions between Walker and Huong shown below: a. During the year, Walker sold inventory costing 3500 to Moss for held on hand by Huong. b. on 1 July 2020, Moss sold a plant to Walker. The plant has carrying amount of The remaining useful life is estimated to be 5 years. Required Marks 9 37 16 18 80 65000 41000 170,000 2 years Fair value 35500 35000 4200. At the end of the year, 30% of the inventory is still Prepare the Acquisition analysis, consolidation adjustments, consolidation worksheet and consolidated financial statements of Walker Manufacturing Ltd at 30 June 2021. 120,000 Moss sold it to Walker for 130,000