The summarised statements of financial position of Gold Limited, Silver Limited and

| Bronze Limited as on 30 November 2017 were as follows:

Additional Information: 3 1. Shares acquired by Gold Limited in Silver Limited: 150,000 ordinary shares on n 30 November 2015 at a cost of €100,000. Shares acquired by Gold Limited in Bronze Limited: 20,000 ordinary shares on 30 November 2016 at a cost of €30,500. ©
2. State of affairs relevant to the acquisition dates:

3. The current account difference arises from a cheque being in transit as on 30 November 2017.
4, All the property of Silver Limited was disposed of on 31 May 2017 and the profit on sale credited to capital reserve.
5. One-eighth of the inventory of Silver Limited as on 30 November 2017 has been invoiced to that company by Gold Limited at cost plus 20%.
6. With respect to the measurement of non-controlling interests at the date of acquisition, the proportionate share method equates to the fair value method. The directors of Gold Limited are confident that any goodwill arising on the acquisitions of Silver Limited and Bronze Limited has not suffered any impairment.
Requirement You are required to prepare the consolidated statement of financial position of Gold Limited and its subsidiary and associated companies on 30 November 2017.

Transcribed Image Text:

Assets Gold Limited Silver Limited Bronze Limited Non-current assets Property, plant and equipment 100,000 70,000 50,050. Investment in Silver 100,000 Investment in Bronze 30,500 230,500 70,000 50,050 Current assets Inventory 4 26,500 36,000 10,000 Receivables Cash at bank 83,750 125,000 36,300 2,000 25,000 Cash on hand 100 Current accounts: Gold Limited - 2,500 Silver Limited 1,000 Bronze Limited 650 113,350 186,650 48,800 Total Assets 343,850 256,650 98,850