Question
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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Horngrens Accounting
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
11th edition
978-0133851151, 013385115X, 978-0133866889
