Accounting financial advanced

consolidation_assignment_worksheet_template.xlsx

Sheet1

Account Name	Candle Ltd	Power Ltd	Adjustments			Group
				Dr	Cr
Cash	4 125	2 050
Receivables	44 550	21 450
Inventory	65 505	40 400
Other receivables	25 080	13 530
Deferred tax assets	12 375	5 775
Shares in Power Ltd	412 500	0
Debentures in Candle Ltd	0	45 000
Available for sale financial assets	112 200	25 000
Vehicles	133 200	97 500
Equipment	12 000	69 300
Machinery	15 000	25 000
Land	247 500	290 000
Goodwill	46 200	12 500
Dividend Paid	16 000	8 000
Dividend Declared	30 000	20 000
Transfer to General Reserve	-	8 000
Cost of sales	350 000	486 190
Income Tax Expense	49 500	52 800
Depreciation and Amortisation	43 000	46 000
Other expenses	41 000	48 700
Total debit balances	1 659 735	1317 195
Account Name	Candle Ltd	Power Ltd	Adjustments			Group
				Dr	Cr
Share capital	330 000	233 000
General Reserve	58 000	15 000
Retained earnings (1/7/13)	84 600	111 375
Available for sale financial assets reserve	28 050	14 750
Accounts Payable	84 825	51 150
Loan Payable (due 30/6/17)	40 000	25 000
Other payables	40 000	30 000
Employee entitlements	20 625	15 300
Current Tax Liability	70 950	56 100
Deferred Tax Liability	19 420	8 250
8% Debentures (Mature 30 June 2015)	90 000	0
Accumulated depreciation – Vehicles	24 860	96 500
Accumulated depreciation – Equipment	1 200	56 900
Accumulated depreciation – Machinery	1 000	2 000
Sales	692 895	560 520
Dividend Revenue	36 500	0
Other income	18 810	28 050
Gain on sale of NCA	18 000	13 300
Total credit balances	1659 735	1 317 195

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