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Apple Co; acquired 75% of the Orange Co; two year ago on 1 June 20X1 when the balance on the retained earnings of Orange Co;
Apple Co; acquired 75% of the Orange Co; two year ago on 1 June 20X1 when the balance on the retained earnings of Orange Co; stood at $125,000.
Statement of financial position at 31 May 20X3.
|
| Apple $000 | Orange $000 |
| Non-current Assets |
|
|
| Property, Plants and Equipment | 2,300 | 400 |
| Investment in S | 1,000 |
|
| Current Assets | 900 | 500 |
|
| 4,200 | 900 |
| Equity |
|
|
| Share capital | 1,000 | 475 |
| Retained Earning | 2,750 | 275 |
| Current Liabilities | 450 | 150 |
|
| 4,200 | 900 |
Required
Prepare a consolidated statement of financial position as at 31 May 20X3.
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