On 1 July 2016, Jackson Ltd acquired all the issued

by | Mar 18, 2020 | Uncategorized

  

On 1 July 2016, Jackson Ltd acquired all the issued shares (cum div.) of Laurie Ltd for $240 000. At that date the financial statements of Laurie Ltd showed the following information:

Share capital $100 000

General reserve 50 000

Retained earnings 70 000

Dividend payable 20 000

All the assets and liabilities of Jackson Ltd were recorded at amounts equal to their fair values at that date.

The dividend payable reported at 1 July 2016 by Laurie Ltd was paid on 15 August 2016.

Laurie Ltd paid a $25 000 dividend on 2 February 2017.

Required

A. Prepare the consolidation worksheet entries at 1 July 2016.

B. Prepare the consolidation worksheet entries at 30 June 2017.

  

Why work with us?

Authenticity:

All of our papers are authentic, as each paper of ours is composed according to your unique requirements. Confidentiality: We value you data. Our company is extremely efficient in guarding the privacy of our clients. 100% Money Back Guarantee: In the event you cancel your order, you get your money back as soon as possible, we give a 100% refund. 24/7 Support: Our team members are available via email, live chat, and phone. Revision Policy: You can apply for a revision if you think your paper could be better. In this case, your paper will be revised either by the specialist assigned to you or by another writer.

How the Platform Works

  • Click on 'Place Your Order' tab on the menu or click on 'Order Now' tab at the bottom and a new order page will appear
  • Fill in your requirements depending on your needs under the 'PAPER DETAILS' area
  • In the next section, fill in the academic level, required number of pages, paper deadline as provided in the drop-down menus.
  • To enter your registration details, click on 'CREATE ACCOUNT & SIGN IN'. This step allows you to create an account with us for purposes of record-keeping. Click on 'PROCEED TO CHECK OUT' at the bottom of the page
  • The next section requires you to fill in the payment details. Follow the guided process and soon your order will be available for our team to work on.