Question: Can I get the solution for this please Quertion 2 Prepare consolidation journal entries required for Hobert Lid and its robaldisay Leonouton Lid on 30

Can I get the solution for this please

Can I get the solution for this please Quertion 2Can I get the solution for this please Quertion 2
Quertion 2 Prepare consolidation journal entries required for Hobert Lid and its robaldisay Leonouton Lid on 30 Juna 2020. . Hobart Lid acquired its 100 per cent interest in Launceston Lid on 1 July 2013-that is, seven years earlier. The cost of the investment was $500 000. At that date the capital and reserves of Launceston Ltd were: Share capital 220 000 Retained earnings 200 000 420 000 At the date of acquisition all assets were considered to be fairly valued. . During the year Hobart Ltd made total sales to Launceston Ltd of $81 111, while Launceston Ltd sold $65 555 in inventory to Hobart Ltd. . The closing inventory in Hobart Ltd includes inventory acquired from Launceston Ltd at a cost of $42 222. This cost Launceston Lid $32 222 to produce. . The closing inventory of Launceston Ltd includes inventory acquired from Hobart Lid at a cost of $15 000. This cost Hobart Ltd $14 000 to produce. DELLThe opening inventory in Hobart Lid as at 1 July 2019 included inventory sergaired from Launceston Lid for $52 000 that cost Launceston Lid $42 000 to produce. On 1 July 2019 Hobart Led sold an item of plant to Launceston Lid for $131 250 when its carrying amount in Hobart Lid's accounts was $101 250 (cost 5168 750, accumulated depreciation $67 500). This plant is assessed as having a remaining useful life of eight years. The Group has a policy of measuring its property, plant and equipment using the "cost model". . The management of Hobart Ltd believe that goodwill acquired was impaired by $2000 in the current financial year. Previous impairments of goodwill amounted to $20 000. Launceston Ltd paid $1 000 in management fees to Hobart Ltd. Launceston Led paid $5 500 as dividend to its shareholders. The tax rate is 30 per cent. Question 2 Type your answer here. [35 marks]

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