Question: Please help me solve this I need it urgent. 7103AFE Corperate Accounting Workshop questions Consolidation: Contrelled and wholy awned subsidiaries Question 1 what is a

Please help me solve this I need it urgent. 7103AFE Corperate

Please help me solve this I need it urgent.

7103AFE Corperate Accounting Workshop questions Consolidation: Contrelled and wholy awned subsidiaries Question 1 what is a subsidiary? Question 2: Wh key elements of control? Question 3 On 1 July 2013, Pyis Ltd acquired all the share capital of Gemini Ltd for $218,s00. At this date, Gemini Ltd's equity comprised: Share Capital-100 000 shares General reserve $100,000 50,000 Retained earnings 36,000 All identifiable assets and liabilities of Gemini Ltd were recorded at fair value as a 1 July 2013 except for the folowing Far Value Camying Am0aet $ 27.000 Ieventory Land 75,000 s0.0og Equipment (cost $100.0000 50.000 60.000 The equipment is espected to have a further 30-vear life. The inventory was sold by June 2014 The tax rate is 30% On 30 June 2014, the directors of Gemini Ltd decided t transfer $25,000 from the- general reserve to retained eamings Required Prepare the consolidation workshest entries for the preparation of consolidated financial statements for Pysis Ltd and its subsidiary Gemini Ltd as at 1)1 uly 2013 2 30 June 2014

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