The following extracts were obtained from the trial balances of Coffee Ltd (Coffee) and Latte Ltd...
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The following extracts were obtained from the trial balances of Coffee Ltd ("Coffee") and Latte Ltd ("Latte") for the financial year ended 30 June 2023: Coffee Ltd (R) DR CR Latte Ltd (R) DR CR Ordinary Share capital: R1 each Retained earnings: 01-Jul-22 Investments in Latte Ltd (at cost) 500 000 379 000 100 000 602 150 270 000 Revenue 3 200 000 3 600 000 Other income 700 000 550 000 Other expenses 855 000 725 000 Income tax expense 820 800 924 750 The following extracts were obtained from the trial balances of Coffee Ltd ("Coffee") and Latte Ltd ("Latte") for the financial year ended 30 June 2023: Coffee Ltd (R) DR CR Latte Ltd (R) DR CR Ordinary Share capital: R1 each Retained earnings: 01-Jul-22 Investments in Latte Ltd (at cost) 500 000 379 000 100 000 602 150 270 000 Revenue 3 200 000 3 600 000 Other income 700 000 550 000 Other expenses 855 000 725 000 Income tax expense 820 800 924 750
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