Question
From the following data, construct a consolidated statement of changes in equity for the year ended 30 September 2022. Company A Equity Statement as at
From the following data, construct a consolidated statement of changes in equity for the year ended 30 September 2022.
Company A Equity Statement as at 30 September 2022:
- Share Capital: £600,000
- Retained Earnings:
- As at 30.09.2021: £150,000
- Add Profit for 2022: £40,000
Company B Equity Statement as at 30 September 2022:
- Share Capital: £300,000
- Retained Earnings:
- As at 30.09.2021: £60,000
- Add Profit for 2022: £20,000
Additional Information: Company A acquired 70% of Company B on 1 October 2021. Dividends declared by Company B during the year totaled £10,000.
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International Financial Reporting A Practical Guide
Authors: Alan Melville
6th edition
1292200743, 1292200766, 9781292200767, 978-1292200743
