QUESTION 2: Consolidated worksheet (T7G2)

Financial Statements
Sales Revenue
Cost of Sales
Administrative Expenses
Depreciation Expenses
Rental Expenses
Interest Expenses

Besar Ltd
326 000
148 000
12 000
25 000
9 000
10 000
204 000
122 000
50 000

Kecil Ltd
168 000
30 000
1 000
5 000
3 000
10 000
49 000
119 000
-

2 000
8 000
15 000
197 000
45 000

119 000
22 000

Profit After Tax

Retained Earnings (1/7/2016)

152 000
5 555 000

97 000
923 000

Dividends Paid
Dividends Declared
Retained Earnings (30/6/2017)
Share Capital

5 707 000
(18 000)
(15 000)
5 674 000
6 192 000

1 020 000
(8 000)
(12 000)
1 000 000
2 000 000

Dividend Revenue
Management Fees Revenue
Gain on Sale of Plant
Interest Revenue
Profit Before Tax
Income Tax Expense

9(a)
9(b)

Adjustments
Dr
Cr
145 000
143 000
4 000

2 500

6(b)

10 000

12 000
8 000

10 000

6(b)

750

1 200
600

2
5

2
3
4
6(a)
6(b)

4 000
800 000
21 000
10 000
375

1 200
3 000
1 250

2
6(a)
6(b)

8 000
12 000
3

2 000 000

9(b)
9(a)

Group
349 000
35 000
13 000
31 500
12 000
10 000
101 500
247 500
30 000
2 000
8 000
5 000
292 500
65 950
226 550
5 648 075

5 874 625
(18 000)
(15 000)
5 841 625
6 192 000

QUESTION 2: Consolidated worksheet (T7G2)

Business Combination Valuation Reserve

Total Equity
Accounts Payable
Provision for warranty
Current Tax Liability
Dividend Payable
Interest Payable
Deferred Tax Liability

11 866 000
153 000
56 000
25 000
15 000
25 000
20 000

3 000 000
26 000
25 000
7 000
12 000
10 000
15 000

Loans Payable
Preferred Shares
Notes Payable
Total Liabilities and Equity
Cash
Accounts Receivable
Inventory
Dividend Receivable
Interest Receivable
Deferred Tax Assets

1 000 000
2 200 000
1 200 000
16 560 000
230 000
150 000
490 000
50 000
20 000
20 000

135 000
3 230 000
210 000
120 000
500 000
-

Loans Receivable
Land
Plant

100 000
5 000 000
12 000 000

1 200 000
2 000 000

Accumulated Depreciation- Plant

(4 500 000)

(800 000)

3 000 000

Investment in Kecil Ltd

49 000

9(a)
8
2

12 000
5 000
2 400

100 000

5
6(a)
1

2
6(b)

600
3 000

14 000
14 000
21 000

6 000
6 000

1
2
4

1
2

2 000
12 000
5 000
1 125

5
9(a)
8
6(b)

100 000

100 000
10 000
8 000

2
6(a)
2

3 000 000

20 000

120 000
3 750

12 033 625
179 000
81 000
32 000
15 000
30 000
44 600
1 035 000
2 200 000
1 200 000
16 850 225
440 000
270 000
988 000
38 000
15 000
22 475
6 220 000
13 890 000
(5 184 250)
-

QUESTION 2: Consolidated worksheet (T7G2)

Goodwill
Total Assets

16 560 000

3 230 000

151 000
3 481 875

3 481 875

151 000
16 850 225