AutoSave OFF Home Insert Draw Design Consolidation Revision Questions-Saved to my Mac Layout References Mailings Review View Share Comments Times New... 12 A A Aa 2 Paste B I Uab A A AaBbCcDdE List Paragraph AaBbCcDdEe AaBbCcDdEr AaBbCcDc AaBbCcDdEe AaBb( AaBbCcDdEe Normal No Spacing Heading 1 Heading 2 Title Subtitle Styles Sensitivity Pane Page 2 of 4 732 words English (United Kingdom) Question 2 Non-current assets: PPE Investment in Snap Ltd Current assets: Inventory Trade receivables Cash and bank TOTAL ASSETS Equity: Ordinary shares of 1 Share premium account Retained earnings Current liabilities: Trade payables Taxation Dividend declared TOTAL EQUITY AND LIABILITIES As at 31. 12. 20X5 Plant ple 1000 Snap Ltd 000 8 , & l s= The following information is also relevant: Plant plc plc, paid 1,000,000 to acquire 60% of the equity in Snap Ltd on 1 January 20X5. On 1 January 20X5 Snap Lids buildings had a fair value which exceeded their carrying amount (net book value) by 150,000. Buildings have an estimated useful life of 30 years. On 1 January 20X5 Snap Las retained earnings were 300,000. Non-controlling interest (NCI) is measured using Method 2 (as the fair value of the NCI). The fair value of the NCI in Snap was 65,000 at 1 January 20X5. The directors estimate that as at 31 December 20X5 goodwill has been impaired by 80,000. At 31 December 20X5 Snap Ltd held goods purchased from Plant ple in its inventory. The invoiced selling price of these goods was 20,000. Snap Ltd earns a margin of 40% on its sales. Required: a) Prepare the Consolidated statement of financial position for the Plant plc group as at 31 December 20X5. b) with reference to relevant accounting standards, explain your treatment of Snap's buildings in the consolidated financial statements. Focus + 74%