Intragroup%20Trans%202009 - Consolidation 28 The Parent provided administration services to the Subsidiary during the year to 30 June 2009 amounting to

Intragroup%20Trans%202009 - Consolidation 28 The Parent...

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Page 1 of 7 Consolidation 28)The Parentprovided administration services to the Subsidiaryduring the year to 30 June 2009 amounting to $50,000. The Subsidiary has paid for these services by year end. The consolidation worksheet entries for 30/6/09 include: a)Dr. Cash $50,000 Cr. Administration expense $50,000 b)Dr. Service revenue $50,000 Cr. Cash $50,000 c)Dr. Service revenue $50,000 Cr. Administration expense $50,000 d)Dr. Administration expense $50,000 Cr. Service revenue $50,000 e)No entries for this are required for 30/6/09 29)The Parentprovided management services to the Subsidiaryamounting to $45,000 during the previous year to 30 June 2008. The subsidiary paid for these services on 1 July 2008. The consolidation worksheet entries for 30/6/09 include: 30)TheParentholds 90% of the shares of the Subsidiary. At 30 June 2009 the Subsidiary owes the Parent $40,000 for inventory purchases. The consolidation worksheet entries for 30/6/09 include:
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