11:00 | 0.6KB/sOn all all 18 Question 05 The statements of financial position of Sun Co, Moon Co and Star Co at 31 March 20*4 aresummarized as follows. Sun Co MOOR CO Star Co RS RS. RS RS RS RS Assets Non-current assets Freehold property 100,000 100,000 Plant and machinery 210,000 80,000 3,000 310,000 180,000 3,000 Investments in subsidiaries Shares, at cost 110,000 6,200 Loan account 3,800 Current accounts 10,000 12,200 120,000 22,200 3,000 Current assets Inventories 170,000 20,500 15,000 Receivables 140,000 50,000 1,000 Cash at bank 60,000 16,500 4,000 370,000 87,000 20,000 800,000 289,200 23,000 Equity and liabilities Equity Ordinary share capital 200,000 100,000 10,000 Retained earnings 379,600 129,200 (1,000) 579,600 229,200 9,000 Current liabilities Trade payables 160, 400 40,200 800 Due to Antelope Co 12,800 600 Due to Moon Co 12,600 Taxation 60,000 7,000 220,400 60,000 14,000 800,000 289,200 23,000 1. Sun Co acquired 75% of the shares of Moon Co in 20X1 when the credit balance on the retained earnings of that company was Rs.40,000. No dividends have been paid since that date. Moon Co acquired 80% of the shares in Star Co in 20X3 when there was a debit balance on the retained earnings of that company of Rs.3,000. Subsequently Rs.500 was received by Star Co and credited to its retained earnings, representing the recovery of an irrecoverable debt written off before the acquisition of Star's shares by Moon Co. To download more visit http:// 2. During the year to 31 March 20X4 Moon Co purchased inventory from Sun Co for 11 Rs.20,000 which included a profit mark-up of Rs.4,000 for Sun Co. At 31 March 20X4 one half of this amount was still held in the inventories of Moon Co. 3. Group accounting policies are to make a full allowance for unrealizedintra-group profits. 4 . It is the group's policy to measure the non-controlling interest at its proportionate share of the fair value ofthe subsidiary's net assets. Prepare the draft consolidated statement of financial position of Sun Co at 31 March 20X4. (Assumeno impairment of goodwill.)