H+ 1.1 59% I 15:27 PDF Reader 2020 Distance Assignments - AFE3782 - Fina... Assignment 1 - AFE3782 QUESTION 1 (CONSOLIDATED FINANCIAL STATEMENTS: IFRS 10, IFRS 3) (30 Marks) The following are the statements of financial position of Pelhams Ltd and Selbourne Ltd as at 30 June 2019. Selbourne Ltd Pelhams Ltd Non-Current Assets : Land Plant and Equipment Investments 4 500 2 400 8 000 14 900 2 500 1 750 0 4 250 Current Assets Inventory Receivables Bank 3 200 1 400 600 5 200 20 100 900 650 150 1 700 5 950 TOTAL ASSETS Equity and Liabilities Equity ordinary share capital- N$0,50 Retained earnings 5 000 8 300 13 300 1 000 3 150 4 150 Liabilities Non-Current liabilities 8% Loan notes Current Liabilities Total Equity and Liabilities 4 000 2 800 500 1 300 5 950 20 100 Additional information: Note 1 Pelhams Ltd acquired 75% of Selbourne Ltd on 1 July 2016 when the balance on Selbourne Ltd Retained Earnngs was N$1 150. Pelhams paid N$3 500 for its investment in the share capital of Selbourne. At the same time Pelhams invested in 60% of Selbourne's Loan stock. Note 2: Page 10 of 20 10 / 20 H+ 1.1 59% I 15:27 PDF Reader 2020 Distance Assignments - AFE3782 - Fina... Assignment 1 - AFE3782 QUESTION 1 (CONSOLIDATED FINANCIAL STATEMENTS: IFRS 10, IFRS 3) (30 Marks) The following are the statements of financial position of Pelhams Ltd and Selbourne Ltd as at 30 June 2019. Selbourne Ltd Pelhams Ltd Non-Current Assets : Land Plant and Equipment Investments 4 500 2 400 8 000 14 900 2 500 1 750 0 4 250 Current Assets Inventory Receivables Bank 3 200 1 400 600 5 200 20 100 900 650 150 1 700 5 950 TOTAL ASSETS Equity and Liabilities Equity ordinary share capital- N$0,50 Retained earnings 5 000 8 300 13 300 1 000 3 150 4 150 Liabilities Non-Current liabilities 8% Loan notes Current Liabilities Total Equity and Liabilities 4 000 2 800 500 1 300 5 950 20 100 Additional information: Note 1 Pelhams Ltd acquired 75% of Selbourne Ltd on 1 July 2016 when the balance on Selbourne Ltd Retained Earnngs was N$1 150. Pelhams paid N$3 500 for its investment in the share capital of Selbourne. At the same time Pelhams invested in 60% of Selbourne's Loan stock. Note 2: Page 10 of 20 10 / 20