Question: The following information relates to Adele Ltd. Since the date of acquisition, Adele Ltd has held interests in multiple subsidiaries totalling DNCI of 25%, and

The following information relates to Adele Ltd. Since the date of acquisition, Adele Ltd has held interests in multiple subsidiaries totalling DNCI of 25%, and INCI of 15%. The following summarised financial information is provided: Retained earnings at DOA $236,000 Retained earnings at 1/7/2020 $476,000 Current period profit for year ended 30/6/2021 $117,000

b) Briefly explain what effect these journal entries have on the consolidated financial reports.

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