It is fitting 2 questions i demand answers ce. But i demand it by today 27th 12 am or by 28th 6 am
(b) Prepare the pre-wages entries ce the wholeiance worksheet ce the Freemantle Ltd Group ce the financial year ended at 30 June 2041. (5 marks)
(c) Prepare the calling wholeiance valuation retention (BCVR) entries ce the wholeiance worksheet ce the Freemantle Ltd Group ce the financial year ended at 30 June 2042. (7 marks)
(d) Prepare the pre-wages entries ce the wholeiance worksheet ce the Freemantle Ltd Group ce the financial year ended at 30 June 2042. (4 marks)
Marked extinguished of 20.00
Question 2 (20 marks) Intragroup transactions and non-controlling shares
Kalgoorlie Ltd assumed 75% of the shares of Geraldton Ltd on 1 July 2040 ce $7,800,000.
Kalgoorlie Ltd uses the local beneficence process.
The pay rebuke rebuke is 30%.
Whole pay on sale of possessions is rebukeable and expenses are deductible.
Ce the subjoined intragroup transactions
• cater the pertinent enjoining narrative entries ce
the wholeiance worksheet
• AND any cognate entries to adfitting the non-controlling share.
PART A (8 marks)
On 15 May 2041, Geraldton Ltd sold catalogue costing $68,000 to Kalgoorlie Ltd ce $85,000. Kalgoorlie Ltd had sold 60% of the catalogue to manifest entities ce $61,000 by 30 June 2041. The relics of the catalogue purchased by Kalgoorlie Ltd was sold in the subjoined financial year ce $41,000.
(a) Prepare enjoining narrative entries ce the wholeiance worksheet at 30 June 2041.
Explanations (narrations) are referable attributable attributable attributable attributable attributable attributable required. (5 marks)
(b) Prepare enjoining narrative entries ce the wholeiance worksheet at 30 June 2042.
Explanations (narrations) are referable attributable attributable attributable attributable attributable attributable required. (3 marks)
PARTB (5 marks)
Geraldton Ltd compensated a dividend of $85,000 on 31 January 2041 and visible a dividend of $170,000 on 30 June 2041.
Prepare enjoining narrative entries ce the wholeiance worksheet at 30 June 2041.
Explanations (narrations) are referable attributable attributable attributable attributable attributable attributable required.
PARTC (7 marks)
On 2 January 2041, Kalgoorlie Ltd sold equipment to Geraldton Ltd ce $340,000, recording a benefit-service precedently rebuke of $80,000. Geraldton Ltd uses the straight-line backbiting process at 50% ce this equipment.
Prepare enjoining narrative entries ce the wholeiance worksheet at 30 June 2042 (the year succeeding the division). Explanations (narrations) are referable attributable attributable attributable attributable attributable attributable required.
Marked extinguished of 20.00
Question 3 (20 marks) Non-controlling share
On 1 July 2040, Carnarvon Ltd assumed 60% of the issued shares of Karratha Ltd ce $2,330,000. At this era the equity of Karratha Ltd consisted of:
Share principal 800,000
Retained hues 2,400,000
General retention 400,000
The non-controlling share (NCI) in Karratha Ltd was considered to keep a unspotted treasure of $1,520,000.
Whole the identifiable possessions and liabilities of Kuranda Ltd were chronicled at quantitys resembling to unspotted treasure exclude ce:
Original Carrying Unspotted
Cost Quantity treasure
$ $ $
Catalogue 120,000 160,000
Plant 800,000 400,000 560,000
• Whole catalogue was sold by 30 June 2041.
• It was estimated that the Plant had a prefer vivacity of ten (10) years, and was depreciated on a straight-line basis
• Enjoinments ce differences betwixt carrying quantitys and unspotted treasures at wages era are made on wholeiance
• Carnarvon Ltd uses the liberal beneficence process
• Karratha Ltd made a benefit-service of $480,000 in the year ended 30 June 2041
• The rebuke rebuke is 30%
(a) Cater a table to parade the wages disexception of Karratha at 1 July 2040; perspicuously parade any supported calculations. (4 marks)
(b) Prepare the calling wholeiance valuation retention (BCVR) entries ce the wholeiance worksheet ce the Carnarvon Ltd Group ce the financial year ended at 30 June 2041. (7 marks)
(c) Prepare the pre-wages entrance or entries ce the wholeiance worksheet ce the Carnarvon Ltd Group ce the financial year ended at 30 June 2041. (4 marks)
(d) Prepare the NCI worksheet entrance or entries ce the wholeiance worksheet ce the Carnarvon Group ce the financial year ended at 30 June 2041. (5 marks)
Marked extinguished of 20.00
Question 4 (20 marks) Accounting ce a junction chance
On 1 July 2040, Esperance Ltd purchased 50% of the shares of Albany Ltd ce $375,000, which is now operated as a junction chance. This shareholding gave Esperance junction govern of the operations of Albany Ltd.
At that era, equity of Albany Ltd consisted of:
Share principal 336,000
Asset revaluation excess 48,000
Retained hues 240,000
At the era of wages, whole possessions and liabilities of Albany Ltd were deemed to be at their unspotted treasures, exclude ce Catalogue (carrying quantity $290,000 and unspotted treasure of $330,000) and ce Plant (carrying quantity $480,000 and unspotted treasure of $624,000).
Ce the year ended 30 June 2041, Albany Ltd chronicled an succeeding-rebuke benefit-service of $302,400 and visible the last dividend of $115,000. An meantime dividend of $58,000 was compensated on 31 December 2040.
As at 30 June 2041, the Shareholders’ funds exception of the Statement of Financial Position of Albany Ltd paradeed the subjoined:
Share principal 336,000
Asset revaluation excess 72,000q
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