Answered step by step
Verified Expert Solution
Question
1 Approved Answer
consolidation question help answer th question please a) The statements of financial position of Lwanga Ltd and of its subsidiary Mwanga Ltd have been made
consolidation question help answer th question please
a) The statements of financial position of Lwanga Ltd and of its subsidiary Mwanga Ltd have been made up to 30 September 2014. Lwanga Ltd has owned 56% of the ordinary shares and 60% of the loan stock of Mwanga Ltd since incorporation. Lwanga Ltd Mwanga Ltd K' K' Assets Non-current assets 250,000 120,000 Property, plant and equipment Motor vehicles 200,000 125,000 Investment in Mwanga Ltd 56,000 Investment in Jedi Ltd 19.000 15% loan stock 70,000 595,000 245,000 Current assets Inventories 50,000 60,000 Trade receivables 145,000 30,000 Receivable from Mwanga Ltd 80,000 Cash 160,000 102,000 435,000 192,000 1.030, 000 437,000 Equity and liabilities Equity Ordinary shares of Kl each 650,000 100, 000 Retained earnings 30,000 157,000 680,000 257,000 Non-current liabilities 10% loan stock 250,000 15% loan stock 100, 000 Current liabilities Trade payables 100, 000 Payable to Lwanga Ltd 80,000 350,000 180,000 1.030,000 437.000 Prepare the consolidated statement of financial position of Lwanga Ltd. 10 Marks Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started