Below are the Balance Sheets of Alpha, Beta and Gamma Ltd for the year to 31 December 2007

Alpha Beta Gamma

Plant Assets 450 80 50

Investment in:

Beta 300 - -

Gamma 153

Inventory 197 110 50

A/R 180 95 30

Cash 50 63 40

Total Assets 1330 348 170

A/P 200 40 14

Share capital 700 200 100

Retained earnings 430 108 56

Total liabilities and equity 1330 348 170

Notes:

i) Alpha bought 75% of the share capital of Beta on 1/1/2006 when Betas retained earnings were 60

ii) Alpha bought 80% of the share capital of Gamma on 1/1/2007 when Gammas retained earnings were 32.

iii) The inventory of Alpha includes inventory bought from Beta for 50. Beta sold this inventory at cost plus a 25% mark-up. All the inventory remains unsold by Alpha.

iv) In 1/1/2007, Alpha sold a plant asset to Beta for 80. It had originally purchased it in 2001 for 100. It used straight-line depreciation based on a life of ten years (including full year depreciation in year of purchase).Beta depreciates this asset over its remaining life using straight line method.

v) The A/R of Alpha includes 10due for Beta. Beta paid back this amount on 22 December 2007, but Alpha has not entered this into its accounts yet.

v) The goodwill on the acquisition of Gamma has been impaired by an estimated 50% in 2007.

****please fill the table with numbers because it is the hardest part

Required:

(a) Prepare the Group Consolidated Balance Sheet for the year to 31 December 2007

(b) Record all the necessary Journal entries in the parent company

(c) Record all the necessary worksheet entries required to prepare the consolidated statement of financial position.

	A	B	G										group
Plant assets	450	80	50
Investment	300+153
Goodwill
Inventory	197	110	50
A/R	180	95	30
Cash	50	63	40
Total	1330	348	170
A/P	200	40	14
NCI
Share Cap	700	200	100
RE	430	108	56
Total	1330	348	170