On 1 July 2018, Gedolf Ltd acquired all the issued shares of Bob Ltd for $148,000 At this date the equity of Bob Ltd was recorded as follows Capital $80,000 General Reserve $30,000 Retained Earnings $40,000 All the identifiable assets and liabilities were recorded at amounts equal to their fair val...

On 1 July 2018, Gedolf Ltd acquired all the issued shares of Bob Ltd for $148,000. At

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On 1 July 2018, Gedolf Ltd acquired all the issued shares of Bob Ltd for $148,000. At this date the equity of Bob Ltd was recorded as follows:

Capital	$80,000
General Reserve	$30,000
Retained Earnings	$40,000

All the identifiable assets and liabilities were recorded at amounts equal to their fair

values.

Required

Prepare the consolidation worksheet journal entries for Gedolf Ltd Group at 1 July 2018.

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Advanced Accounting

ISBN: 978-1118037911

1st Canadian Edition

Authors: Gail Fayerman

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Posted Date: Mar 11, 2024 05:07 AM

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On 1 July 2018, Gedolf Ltd acquired all the issued shares of Bob Ltd for $148,000. At

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Consolidation Worksheet Journal Entries for Gedolf Ltd Group at 1 July 2018 1 Fair value of ... View the full answer

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