MAA363 Introduction to Corporate Accounting

Task:

Required:

a) Record the consolidated journal entries necessary to prepare consolidated accounts for the year ending 30 June 2018 for the group comprising Parent Ltd and Subsidiary Ltd (In Sheet 2: Consolidated Journal Entries).

b) Complete the consolidated worksheet for the year ending 30 June 2018 (In Sheet 3: Consolidated Worksheet).

I. Entering the consolidated journal entries in Part (a) above to the appropriate debit and credit columns in the Consolidated Worksheet; and II. Completing the Group figures in the Consolidated Worksheet.

c) Explain in detail (In Sheet 6: Discussion on Part c) why you made consolidated adjusting journal entry for item (c) and item (e) provided In Sheet 1: Background Information. You are required to use specific figures in the explanation according to the generated values in your excel proforma.

Assignment Instructions:

This assignment relates to Topic 6 on Investment in subsidiaries and requires the following to be submitted:

An excel workbook with the following six (6) sheets:

Sheet 1: Background Information

Sheet 2: Consolidation Journal Entries

Sheet 3: Consolidated Worksheet

Sheet 4: Consolidated Income Statement

Sheet 5: Consolidated Balance Sheet / Statement of Financial Position

Sheet 6: Discussion on Part c