Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Consolidation worksheet for financial year ended 30 June 2021 Joey Chandler Adjustments Consolidated Ltd Ltd Debit Ref Credit Entity $'000 $'000 $'000 $'000 $'000

image text in transcribedimage text in transcribed

Consolidation worksheet for financial year ended 30 June 2021 Joey Chandler Adjustments Consolidated Ltd Ltd Debit Ref Credit Entity $'000 $'000 $'000 $'000 $'000 Sales revenue 4,360 1,570 500 f 5,430 Less cost of goods sold Opening inventories 375 256 Add purchases 3,080 1,104 Less closing inventories 425 279 40 10 30 601 f 500 3,684 g 664 Cost of goods sold 3,030 1,081 ? Gross profit 1,330 489 ? Dividend revenue 70 0 70 j Management fee revenue 25 0 25 d Interest revenue 0 15 15 e Depreciation expense 245 187 20 412 Finance costs 105 98 e 15 188 Other expenses 325 79 20 c/d 25 399 Profit before tax 750 140 ? Tax expense 265 45 15.00 i/g/l 12.00 313 Profit after tax for the year 485 95 ? Retained earnings 1 July 2020 849 394 233 b/i/l 64 1,074 Dividends paid (53) (28) 28 (53) Dividends declared (107) (42) 42 (107) Retained earnings 30 June 1,174 419 1,411 2021

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Horngrens Accounting

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura

11th edition

978-0133851151, 013385115X, 978-0133866889

More Books

Students also viewed these Accounting questions

Question

In Exercises, find the limit. x-4 lim x-00x + 1

Answered: 1 week ago

Question

recognize unresolved and critical issues regarding job crafting;

Answered: 1 week ago

Question

What is the difference between adsorption and absorption?

Answered: 1 week ago

Question

What kind of resistance could the project trigger?

Answered: 1 week ago

Question

Which management structure is desired/sensible/necessary?

Answered: 1 week ago