Week 9 tutorial - blank worksheet PDF

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Download Week 9 tutorial - blank worksheet PDF

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ACCG308 – Corporate Accounting and Business Advisory Blank worksheets for Week 9 tutorial questions Topic: Purchase consolidation 1

18.25a) Consolidation worksheet at 31 December 20X6: Balance sheet (data preparation) Data adjustments Dali Gleeson Drysdale Sum Dr Cr Paid-up capital 545 000 150 000 175 000 Asset revaluation reserve 150 000 25 000 — Other reserves Retained profits

60 000 40 000

— 19 000

5 000 10 000

Owners’ equity

795 000 194 000

190 000

Accounts payable Estimated uncollectible debts Accumulated depreciation―equip. Total equities and asset contras

75 000 40 500 15 000 2 500 100 000 38 000 985 000 275 000

60 000 800 33 000 283 800

Cash Accounts receivable Inventory Investment in subsidiaries Patents Equipment Total assets

5 000 35 000 150 000 25 000 60 000 55 000 650 000 — — — 120 000 160 000 985 000 275 000

25 500 24 300 35 000 — — 199 000 283 800

Changes made to the 2nd bullet point in the question:  Dali has shipped inventory goods to Gleeson invoiced at $900. Drysdale Gleeson has not yet received these goods or recorded them, but they have been included in the above fair value measure of the inventory.

2 18.29 Consolidation worksheet at 1 January 20X3: Balance sheet Eliminations Manet Renoir Seurat Sum Dr Cr Paid-up capital

10 000

4 000

5 000 19 000

Reserves

6 000

1 500

2 000

9 500

Retained profits

2 000

500

(1 000)

1 500

Owners’ equity

18 000

6 000

6 000 30 000

Accounts payable

12 000

5 000

7 000 24 000

Total equities

30 000 11 000

13 000 54 000

Inventory Other current assets Investment in subsidiaries

3 000 4 000 13 000

1 000 2 500 –

2 000 6 000 3 000 9 500 – 13 000

Other non-current assets

10 000

7 500

8 000 25 500

Total assets

30 000 11 000

13 000 54 000

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