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On 1 July 2020, Amani Ltd acquires 20 percent of the shares of Sajaya Ltd by issuing 10,000 shares at $2.60 per share. During the financial year ending 30 June 2021, Sajaya Ltd makes an after-tax profit of $50,000 and provides for a dividend of $20,000.
This profit includes the following transactions:
Required: Problem 1: Calculate the amount of Amani Ltd's share of Sajaya Ltd's adjusted profit after adjusting the unrealised profit from selling inventory and office furniture for the year ended 30 June 2021.
Problem 2: Prepare journal entries for Amani Ltd's interest in the associate Sajaya Ltd for the year ended 30 June 2021 as required by AASB128.
Write a short note on “Going concern concept” and “Full disclosure”.
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midwest corp completed the following transactions in 2012 the first year of operation.1. issued 20000 shares of 10 par
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