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From the following data, prepare a consolidated statement of changes in equity for the year ended 30 September 2023. Company X Equity Statement as at

From the following data, prepare a consolidated statement of changes in equity for the year ended 30 September 2023.

Company X Equity Statement as at 30 September 2023:

  • Share Capital: £800,000
  • Retained Earnings:
    • As at 30.09.2022: £300,000
    • Add Profit for 2023: £100,000

Company Y Equity Statement as at 30 September 2023:

  • Share Capital: £400,000
  • Retained Earnings:
    • As at 30.09.2022: £150,000
    • Add Profit for 2023: £50,000

Additional Information: Company X acquired 80% of Company Y on 1 October 2022. Dividends declared by Company Y during the year totaled £20,000.

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