CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Costa Ltd is a company with a 30 June year end. The following information relates to

Costa Ltd and its subsidiary Jumbo for the year ended 30 June 20.22.

	Costa Ltd	Jumbo Ltd
	Dr	Cr	Dr	Cr
Property at cost	600 000		160 000
Equipmentat cost	300 000		180 000
Inventories	100 000		80 000
Investmentin Jumbo Ltd @ fair value 30 000 ordinary shares (Cost is equalto fair value)	204 000
Bank Obese Bank	1200		12 000
Trade and otherreceivables	124 400		406 800
Income tax expense	190 000		170 000
Provisionaltax payments	100 000		90 000
Loan to parent(interest free)			140 000
Dividendspaid ordinary shares	40 000		30 000
Dividendspaid preference shares	12 000		7 500
	1 671 600		1 276 300
Issued share capital Ordinary shares of R2 each		200 000		100 000
Issued 15% Cumulative preferenceshares, R1 each		80 000		50 000
Retained earnings beginning of year		190 000		138 000

Accumulated depreciation - Equipment		128 000		94 000
Bank overdraft GG Bank		48 000
Trade and other payables		175 600		238 300
Taxation paid		190 000		170 000
Loan fromsubsidiary		120 000
Profit beforetax		540 000		486 000
		1 671 600		1 276 300

Additional information:

1. Costa Ltd acquired its interest in Jumbo Ltd at 1 July 20.18. at that date, Jumbo Ltds retained earnings amounted to R55 000. Costa Ltd paid R204 000, R75 000 of which was paid for goodwill. The balance was attributable to the revaluation of Jumbo Ltds property. The carrying amountof the assets and liabilities were equal to the fair value thereof. At the date of acquisition there was no arrear preference dividend. Each share carries one vote.
2. Costa Ltd has bought all its inventories from Jumbo Ltd since 1 July 20.21.jumbo Ltd made a profit of 25% on the cost price of inventories sold to Costa Ltd.
3. Jumbo Ltd paid no preference dividendsfor the period1 July 20.18 to 30 June

20.20. on 30 June 20.21 JumboLtd paid a preference dividendof R22 500.

1. On 29 June 20.22 Jumbo Ltd sent inventories to the value of R20 000 to Costa Ltd, Costa Ltd only received the inventories on 3 July 20.22.
2. On 2 January 20.21, Costa Ltd sold a machine to Jumbo Ltd at a profit of R40

000. It is group policy to provide for depreciation at 25% per annum according to the reducing balance method.

Ignore all forms of taxes.

Prepare the following consolidated financial statement [IFRS] of Costa Ltd and its subsidiary for the year ended 30 June 20.22.

Consolidated statement of financial position as at 30 June 20.22