Question: During the 3 years since acquisition, Glider Ltd has recorded the following annual results: Year ended 30-Jun-2013 30-Jun-2014 30-Jun-2015 Profit $15000 27000 12000 . There

During the 3 years since acquisition, Glider Ltd has recorded the

following annual results: Year ended 30-Jun-2013 30-Jun-2014 30-Jun-2015 Profit $15000 27000 12000

During the 3 years since acquisition, Glider Ltd has recorded the following annual results: Year ended 30-Jun-2013 30-Jun-2014 30-Jun-2015 Profit $15000 27000 12000 . There have been no transfers to or from the general reserve, or any dividend paid or declared by Glider Ltd since the acquisition date. The equipment owned by Glider Ltd on 1 July 2012 was sold on 1 January 2014 for $70 000. . On consolidation, the group transfers the valuation reserve to retained earnings when an asset is sold or fully consumed The tax rate is 30% Required 1. Prepare the consolidation worksheet entries as at 1 July 2012 2. Prepare the consolidation worksheet entries for the year ended 30 June 2013 3. Prepare the consolidation worksheet entries for the year ended 30 June 2014 4. Prepare the consolidation worksheet entries for the year ended 30 June 2015 During the 3 years since acquisition, Glider Ltd has recorded the following annual results: Year ended 30-Jun-2013 30-Jun-2014 30-Jun-2015 Profit $15000 27000 12000 . There have been no transfers to or from the general reserve, or any dividend paid or declared by Glider Ltd since the acquisition date. The equipment owned by Glider Ltd on 1 July 2012 was sold on 1 January 2014 for $70 000. . On consolidation, the group transfers the valuation reserve to retained earnings when an asset is sold or fully consumed The tax rate is 30% Required 1. Prepare the consolidation worksheet entries as at 1 July 2012 2. Prepare the consolidation worksheet entries for the year ended 30 June 2013 3. Prepare the consolidation worksheet entries for the year ended 30 June 2014 4. Prepare the consolidation worksheet entries for the year ended 30 June 2015

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