406 The following are the Statement of Financial Positions of lyanda, Uthman and
Akinade respectively:
Iyanda
Uthman
Akinade
Assets
N 000
N000
N 000
Tangible
972
843
Investment in subsidiary:
Uthman (700,000 shares)
356
Akinade (300,000 shares)
Net current assets
477
1781
Financed by:
Ordinary share capital of Al each
Reserves
Retained earnings
Others
248
205
1320
164
570
1200
1000
400
333
200
100
248
120
70
1781
Additional information:
1320
570
i Iyanda acquired Uthman and Akinade when their Retained earnings were
N100,000 and N60,000 respectively.
ii.
The other reserves of the two companies stood at 150,000 and N40,000
respectively
Prepare a consolidated Statement of Financial Position for lyanda group.

The law firm of furlan and benson accumulates costs associated with individual cases, using a job order cost system. the following transactions occurred during july: jul. 3 charged 175 hours of professional (lawyer) time to the obsidian co. breech of contract suit to prepare for the trial, at a rate of $150 per hour. 10 reimbursed travel costs to employees for depositions related to the obsidian case, $12,500. 14 charged 260 hours of professional time for the obsidian trial at a rate of $185 per hour. 18 received invoice from consultants wadsley and harden for $30,000 for expert testimony related to the obsidian trial. 27 applied office overhead at a rate of $62 per professional hour charged to the obsidian case. 31 paid administrative and support salaries of $28,500 for the month. 31 used office supplies for the month, $4,000. 31 paid professional salaries of $74,350 for the month. 31 billed obsidian $172,500 for successful defense of the case. required: a. provide the journal entries for each of these transactions. refer to the chart of accounts for exact wording of account titles. b. how much office overhead is over- or underapplied? c. determine the gross profit on the obsidian case, assuming that over- or underapplied office overhead is closed monthly to cost of services.