The consolidation worksheet entries for 30609 include a Dr Dividend revenue

The consolidation worksheet entries for 30609 include

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acquisition profits. The consolidation worksheet entries for 30/6/09 include: a)Dr. Dividend revenue$30,000Cr. Dividend payable$30,000b)Dr. Dividend revenue$30,000Cr. Dividend paid$30,000c)Dr. Investment in Subsidiary$30,000Cr. Dividend paid$30,000d)Dr. Dividend declared$30,000Cr. Dividend paid$30,000
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No entries for this are required for 30/06/09 The Subsidiarydeclares a dividend of $35,000 to the Parenton 1 June 2009 from its post-acquisition profits and the dividend is unpaid at year end. The consolidation worksheet entries for 30/6/09 include: a)Dr. Dividend payable$35,000b)Dr. Dividend declared$35,000c)Cr. Dividend declared$35,000Dr. Dividend revenue$35,000Cr. Dividend receivable$35,000Cr. Dividend receivable$35,000
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Dr. Dividend payable$35,000Cr. Dividend unpaid$35,000d)Dr. Dividend revenue$35,000Cr. Dividend unpaid$35,000No entries for this are required for 30/6/09 The Subsidiarymakes a sale of inventory to the Parent for $400,000 during the year to 30 June 2009. The original cost of the inventory to the Subsidiary is $300,000. None of the inventory is on hand with the Parentat year end. The consolidation worksheet entries for 30/6/09 include: Cr. Profit on sale$400,000Cr. Cost of sales$300,000
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Cr. Inventory$100,000Cr. Cost of sales$400,000Cr. Inventory$300,000No entries for this are required for 30/6/09
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The Subsidiarymakes a sale of inventory to the Parent for $400,000 during the year to 30 June 2009. The original cost of the inventory to the Subsidiary is $300,000. There is 80% of this inventory on hand with the Parent at year end. The consolidation worksheet entries for 30/6/09 include: Cr. Cost of sales$300,000Cr. Inventory$100,000Cr. Cost of sales$320,000Cr. Inventory$ 80,000Cr. Cost of sales$400,000
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a)Dr. Income tax expense$ 24,000Cr. Deferred tax liability$ 24,000b)Dr. Income tax expense$120,000Cr. Deferred tax liability$120,000c)Dr. Deferred tax asset$ 24,000Cr. Income tax expense$24,000d)Dr. Deferred tax asset$120,000Cr. Income tax expense$120,000No entries for this are required for 30/6/09
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The Subsidiarymakes a sale of inventory to the Parent.The transfer price is $450,000. The mark up on cost used by the Subsidiary is 50%. The Parent has 80% of the inventory still on hand. The unrealised profit
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