On 1 January 2011 Alpha invested 500 to incorporate Beta. A year later each company had prepared

Question:

On 1 January 2011 Alpha invested £500 to incorporate Beta. A year later each company had prepared its own Statement of financial position as shown.

Required:

Prepare the Consolidated Statement of financial position of the Alpha group as at 31 December 2011.

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Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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Question Posted: Aug 29, 2023 09:58 AM

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On 1 January 2011 Alpha invested 500 to incorporate Beta. A year later each company had prepared

Question:

Statements of dinancial position as at 31 December 2011 Non-current assets Investments in Beta Current assets Ordinary shares Retained earnings Current liabilities Alpha £ 840 500 280 1,620 £ 1,000 310 1,310 310 1,620 Beta £ 530 - 140 670 £ 500 80 580 90 670

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Note Alphas investment of 300 in Beta has been offset against ...View the full answer

Financial Accounting An Introduction

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