this is very important assignment the work need to be done in excel and i have submi 557200

Aug 29, 2021 | Uncategorized

this is very important assignment.. the work need to be done in excel and i have submitted a last year sample file of work.. see the last year work because u need to do the work similar type formate.. the details are given in the assignment question.. read it thoroughly because i need this to be perfect and best..

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Corporate Accounting Systems Consolidated Financial Statements with Non Controlling Interests QUESTION Using the information below and on the next two pages, prepare the following as at 30th June 2014: PART A: Adjustment/elimination journal entries for consolidation at that date; and PART B: Detailed calculation of non controlling interest balance and consolidation worksheet; and PART C: Consolidated financial statements and statements of changes in equity for the group and parent. INFORMATION For the year ended 30 June 2012: On 1 July 2011 Harbour Ltd created a group entity when it purchased 80% of the issued capital of Bridge Ltd for $440,000 cash. On acquisition Bridge Ltd’s accounts showed: Share capital $300,000 and Retained earnings $125,000. All assets and liabilities appearing in Bridge Ltd’s financial statements were fairly valued, except: An item of Bridge Ltd’s plant, that had originally cost $157,000 and had a carrying value of $100,480, was undervalued by $30,000. The plant was still on hand at 30 June 2014. Bridge Ltd had an internally developed identifiable intangible asset, a patent, with a fair value of $35,000. During the year Bridge Ltd made sales of inventory to Harbour Ltd of $70,200. Harbour Ltd’s closing inventories on 30 June 2012 included $33,600 bought from Bridge Ltd (which included the intragroup mark up on original cost price). For the year ended 30 June 2013: On 1 January 2013 it was decided that goodwill acquired in Bridge Ltd should be marked down at a rate of 10% per annum from this date forward. Also on 1 January 2013 Harbour Ltd sold plant to Bridge Ltd for $35,000. This was financed by a short term interest free loan from Harbour Ltd. The plant had originally cost $82,000 when purchased on 1 January 2010. Harbour Ltd declared and paid dividends of $50,000 for the year. Bridge Ltd did not declare or pay any dividends for the year. For the year ended 30 June 2014: During the year Bridge Ltd made sales of inventory to…