595 185 9 The following Statements of Financial Position have been provided for Bonnie Ltd and Clyde Ltd as at 30 April 2020. Bonnie Ltd Clyde Ltd Assets '000 '000 Non-current assets Property, plant and equipment 981 730 Investment in Clyde Ltd Current assets Inventory 465 Trade and other receivables 135 65 Cash 120 Total asset 2.296 989 Equity and Liabilities Equiry Ordinary share capital 1,400 Preference share capital 100 General reserve 275 75 Retained earnings 490 150 Non-current liabilities 8% Debenture Current liabilities Trade and other payables 110 90 Taxation 21 Total equity and liabilities 2.296 989 Additional information i. Eight years ago Bonnie Ltd acquired 720,000 of the 0.50 ordinary shares, 75% of the 5% preference shares and 25% of the 8% debentures in Clyde Ltd for 595,000. At the date of acquisition their revenue reserves were 45,000 and they had no general reserves. 450 100 24 ii. Bonnie Ltd account for goodwill using method 1 - partial goodwill and following an impairment review, goodwill in Clyde Ltd at 30 April 2020 was deemed to be impaired by 36,000. iii. Subsequent to the preparation of both sets of financial statements, presented above, an ordinary dividend of 15,000 for the year ended 30 April 2020, was approved at the AGM of Clyde Ltd. iv. The debenture interest due for the six months ended 30 April 2020 (reflected in the above financial statements) was paid by Clyde Ltd on 15 May 2020. Requirement: Prepare the Consolidated Statement of Financial Position of the Bonnie Ltd Group as at 30 April 2020 showing the following accounts: Cost of Control Account Consolidated Revenue Reserves Account Consolidated General Reserve Account Non-controlling Interest Account 8% Debenture Account 50 marks 595 185 9 The following Statements of Financial Position have been provided for Bonnie Ltd and Clyde Ltd as at 30 April 2020. Bonnie Ltd Clyde Ltd Assets '000 '000 Non-current assets Property, plant and equipment 981 730 Investment in Clyde Ltd Current assets Inventory 465 Trade and other receivables 135 65 Cash 120 Total asset 2.296 989 Equity and Liabilities Equiry Ordinary share capital 1,400 Preference share capital 100 General reserve 275 75 Retained earnings 490 150 Non-current liabilities 8% Debenture Current liabilities Trade and other payables 110 90 Taxation 21 Total equity and liabilities 2.296 989 Additional information i. Eight years ago Bonnie Ltd acquired 720,000 of the 0.50 ordinary shares, 75% of the 5% preference shares and 25% of the 8% debentures in Clyde Ltd for 595,000. At the date of acquisition their revenue reserves were 45,000 and they had no general reserves. 450 100 24 ii. Bonnie Ltd account for goodwill using method 1 - partial goodwill and following an impairment review, goodwill in Clyde Ltd at 30 April 2020 was deemed to be impaired by 36,000. iii. Subsequent to the preparation of both sets of financial statements, presented above, an ordinary dividend of 15,000 for the year ended 30 April 2020, was approved at the AGM of Clyde Ltd. iv. The debenture interest due for the six months ended 30 April 2020 (reflected in the above financial statements) was paid by Clyde Ltd on 15 May 2020. Requirement: Prepare the Consolidated Statement of Financial Position of the Bonnie Ltd Group as at 30 April 2020 showing the following accounts: Cost of Control Account Consolidated Revenue Reserves Account Consolidated General Reserve Account Non-controlling Interest Account 8% Debenture Account 50 marks