Your pair is required to complete two tasks for Part B. Consolidate Hardy Ltd and Stoney Ltd: 1. Prepare the consolidation journal entries, with narrations, and consolidated worksheet (using Excel or similar) to consolidate Hardy Ltd and Stoney Ltd for the year ended 30 June 2X16.
2. Produce the completed consolidated financial reports (Statement of Comprehensive Income and Statement of Financial Position) for the year ended 30 June 2X16. Please note that in preparing the financial statements for this assignment, your pair is advised to comply with AASB standards and the requirements in the Australian Corporations Legislation when determining the structure and presentation requirements for the financial reports.
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