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Accounting Solved

Referencing Styles : APA | Pages : 2
  • Course Code: ACT503
  • Course Title: corporate accounting
  • University: Charles Darwin University
  • Country: AU
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Tom Adamski Completed Orders: 2600 Student Reviews Student Reviews Student Reviews Student Reviews Student Reviews 5/5
Customer Feedback Student Reviews Student Reviews Student Reviews Student Reviews Student Reviews   4/5

The writer did an excellent job in addressing requirements of the assignment. Well laid out with great grammar. Highly recommend.

Solution:

Journal Entries

S. No.

Entry

Dr. / Cr.

$ 000

$ 000

Remarks

1

Impairment A/c

Dr.

           5

 

 

 

To Goodwill A/c

Cr.

 

             5

 

 

(Recognising impairment on Goodwill on consolidation)

 

 

 

 

 

 

 

 

 

 

2

Sales Revenue

Dr.

         60

 

 

 

To Cost of Goods Sold

Cr.

 

           60

 

 

(Elimination of sales made by FMCG Ltd to RG Ltd)

 

 

 

 

 

 

 

 

 

 

3

Sales Revenue

Dr.

         50

 

 

 

To Cost of Goods Sold

Cr.

 

           50

 

 

(Elimination of sales made by RG Ltd to FMCG Ltd)

 

 

 

 

 

 

 

 

 

 

4

Management Fee Income

Dr.

         26

 

 

 

To Management Fee Expenses

Cr.

 

           26

 

 

(Elimination of Management Fee paid by RG Ltd to FMCG Ltd)

 

 

 

 

 

 

 

 

 

 

5

Dividend Income

Dr.

75

 

 

 

To Dividend Paid

Cr.

 

75

 

OR

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