Cr Debentures in Jane Ltd 64000 Dr Interest Revenue 3200 Cr Interest Expense

Cr debentures in jane ltd 64000 dr interest revenue

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Cr Debentures in Jane Ltd 64,000 Dr Interest Revenue 3,200 Cr Interest Expense 3,200 f Dr Service revenue 5,000 Cr Service expense 5,000 Dr Acc Payable 2,500 Cr Acc Receivable 2,500 g Dr Dividend revenue 8,000 Cr Dividend Paid (RE) 8,000 Dr Dividend revenue 24,000 Cr Dividend declared (RE) 24,000 Dr Dividend payable 24,000 Cr Dividend receivable 24,000
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Jane Ltd Consolidated Income Statement for the period ended 30 June 2021 $ Sales Revenue 801,250 Cost of goods sold (421,600) Gross Profit 379,650 Other revenues 31,300 Gains 22,700 Depreciation expense (122,733) Finance costs (59,000) Other expenses (9,500) Profit before income tax 242,417 Income tax expense (71,160) Profit for the year 171,257 Attributable to: Members of Jane Ltd 148,605 Non-controlling interests 22,651 Profit for the year 171,257 Jane Ltd Consolidated Balance Sheet as at 30 June 2021 $ Current Assets Cash at bank 634,145 Dividends receivable 6,000 Trade receivables 119,650 Inventories 107,820 Total current assets 867,615 Non-current Assets Investment in Associates 300,000 Land 397,200 Plant and machinery 832,160 Accumulated depreciation - plant and machinery (279,333) Goodwill 39,320 Deferred Tax Assets 21,475 Total non-current assets 1,310,822 Total Assets 2,178,437
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5. NCI Step 1: Share of Equity of Sub at the acquisition date Dr RE 7,200 Dr Share Capital 10,800 Dr BCVR 2,170 Cr NCI 20,170 Step 2: Changes in equity of sub from acquisition date to beginning of the cu (1.7.2018 to 30.6.2020) 2 years * Retained Earnings: Op. balance retained earnings (31.06.2020) 160,300 RE at acquisition date (1.7.2018) 36,000 Change in RE 124,300 Adjustments: Depreciation of Machinery (net of tax) (3,220) Intragroup inventory c): unrealised profit (280) Intragroup sale of land (10,500) Intragroup sale of the Dust Extraction Machine 5,600 Depreciation of Dust Extraction Machine (net of tax) (560) Total change in retained earnings of sub 115,340 NCI (*20%) 23,068 Dr RE 23,068 Cr NCI 23,068 Step 3: Changes in equity of sub during the current year (1.7.2020 - 30.6.2021 *Changes in profit for the period * Profit for the current period 121,330 Depreciation of Machinery (net of tax) (1,610) Intragroup Inventory: current period (1,050) Intragroup Inventory: profit realised from last period 280 Depreciation of machinery (net of tax) (560) Intragroup sale of Machinery (5,600) Depreciation of Machinery (net of tax) 467 Total changes in profit 113,257 NCI (*20%) 22,651 Dr NCI Share Of Profit 22,651
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Cr NCI 22,651
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$ Current Liabilities Dividends payable 6,000 Trade payables 462,095 Other current liabilities 384,250 Total current liabilities 852,345 Non-current Liabilities Debentures 16,000 Deferred Tax Liabilities 96,125 Provisions 401,000 Total non-current liabilities 513,125 Total Liabilities 1,365,470 Equity Retained Earnings 385,037 Share Capital 360,000 General Reserve 10,000 Equity Attributable to the members of Jane Ltd 755,037 Non-controlling interests 57,929 Total Equity 812,967 Total Liabilities & Equity 2,178,437
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urrent year * Share Capital * BCVR No change Op. Balance BC BCVR balance Total BCVR Ad NCI (*20%) Dr NCI Cr BCVR 1) *Dividends pa * Dividend Pai Dr NCI Cr Dividend P * Dividend De Dr NCI Cr Dividend D
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* General Reserve CVR (30.06.2020) 8,050 Op. Balance General reserve (30.06.2020) at date of acquisition 10,850 General reserve at date of acquisition dj. (2,800) Total general reserve adj. (560) NCI (*20%) 560 Dr General Reserve 560 Cr NCI aid/declared by subsidiary id 2,000 Paid (RE) 2,000 eclared 6,000 Declared (RE) 6,000
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3,000 - 3,000 600 600 600
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