Consolidated

Re question number 2... it's a consolidated Accounts balance sheet

QUESTION 2 PARTA The following are the statements of financial position of Rose Lid and its subsidiary Petal Lid. Statement of Financial Position as at 31 December 2020 Rose Ltd Petal Lud $000 S'000 Non Current Assets 36,000 12,000 Cast of Investment in Petal Lid 7,200 Current assets 7,500 3,600 50,700 15.600 6,000 2,400 Share capital (51 Ordinary shares) Retained earnines General Reserves Current liability 24,000 12.300 700 5,700 50,700 7,200 15,600 a) Rose Limited acquired 60% of Petal Lad for 2 per share on 1 January 2017 when Petal Limited's retained carings was $400,000. Fair value of NC at the date of acquisition should be valued at $2.50 per share. b) Goodwill impaired to date in respect of the holdings in Petalladis S150.000, c) At 31 December 2019 inter-company debts amounted to $80,000 Prepare the consolidated statement of financial position of the Rose Limited Group for the year ended 31 December 2019. (25 marks) PARTB Explain the accounting treatment for negative and positive goodwill according to IFRS 3