(b) You have been provided with the statements of financial position of Customs plc and Union Limited as at 31 December 2019. Additional Information 1. On 1 January 2010 Customs plc purchased 80% of the shares of Union Limited, a company incorporated and operating in a country whose currency is the Eurasian dollar (E\$). The retained earnings of Union Limited amounted to E$100,000 on 1 January 2010. For the purposes of measuring non-controlling interests at the date of acquisition, the proportionate share method equated to the fair value method. Goodwill was impaired for the first time by 5,000 during the year ended 31 December 2019. 2. The financial statements for the year ended 31 December 2019 included the following: No other dividends were paid or proposed by either company. Requirement Prepare the consolidated statement of financial position of Customs Group as at 31 December 2019, showing any foreign exchange gains and losses arising. 15 Marks 1. What is the amount of goodwill arising on the acquisition of Union Limited by Customs plc on 1 January 2010 ? A. 47,000 B. 12,000 C. 95,000 D. 60,000 2. What is the carrying value of goodwill in the consolidated statement of financial position of Customs plc at 31 December 2019? A. 95,000 B. 47,000 C. 89,000 D. 94,000 3. What is the amount to be included for non-controlling interests in the consolidated statement of financial position of Customs plc at 31 December 2019? A. 69,200 B. 331,200 C. 34,200 D. 171,200 4. What is the amount to be included for consolidated retained earnings in the consolidated statement of financial position of Customs plc at 31 December 2019? A. 992,000 B. 615,000 C. 300,000 D. 677,000 (b) You have been provided with the statements of financial position of Customs plc and Union Limited as at 31 December 2019. Additional Information 1. On 1 January 2010 Customs plc purchased 80% of the shares of Union Limited, a company incorporated and operating in a country whose currency is the Eurasian dollar (E\$). The retained earnings of Union Limited amounted to E$100,000 on 1 January 2010. For the purposes of measuring non-controlling interests at the date of acquisition, the proportionate share method equated to the fair value method. Goodwill was impaired for the first time by 5,000 during the year ended 31 December 2019. 2. The financial statements for the year ended 31 December 2019 included the following: No other dividends were paid or proposed by either company. Requirement Prepare the consolidated statement of financial position of Customs Group as at 31 December 2019, showing any foreign exchange gains and losses arising. 15 Marks 1. What is the amount of goodwill arising on the acquisition of Union Limited by Customs plc on 1 January 2010 ? A. 47,000 B. 12,000 C. 95,000 D. 60,000 2. What is the carrying value of goodwill in the consolidated statement of financial position of Customs plc at 31 December 2019? A. 95,000 B. 47,000 C. 89,000 D. 94,000 3. What is the amount to be included for non-controlling interests in the consolidated statement of financial position of Customs plc at 31 December 2019? A. 69,200 B. 331,200 C. 34,200 D. 171,200 4. What is the amount to be included for consolidated retained earnings in the consolidated statement of financial position of Customs plc at 31 December 2019? A. 992,000 B. 615,000 C. 300,000 D. 677,000