Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Calculate the total balance of Total Equity account in the consolidated financial statement. Provide its sub-accounts and their balances too. On 1 January 20X0 Bird

image text in transcribed

Calculate the total balance of Total Equity account in the consolidated financial statement. Provide its sub-accounts and their balances too.

On 1 January 20X0 Bird Plc acquired 80% of the 10,000 1 Ordinary shares in Flower Plc for 1.50 per share in cash and gained control. The fair value of the net assets of Flower at that date was the same as the book value. The individual statements of financial position immediately after the acquisition at that date were as follows: Bird Flower 20,000 11,000 ASSETS Non-current assets Goodwill Investment in Flower Net current assets Net assets 12,000 11,000 43,000 3,000 14,000 Share capital Retained earnings 16,000 27,000 43,000 10,000 4,000 14,000 43,000 14,000 Non-controlling interest

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Psychology Of People In Organisations

Authors: Angela Mansi, Melanie Ashleigh

1st Edition

0273755765, 9780273755760

More Books

Students also viewed these Accounting questions

Question

create a template function that adds the values of a vector

Answered: 1 week ago