Investments 743 Total Non-Current Assets 1,079 Current Assets 218

400 160 833 362 357 318

PRACTICE QUESTIONS

1. Below are the Statements of Financial Position of Daniel, Kristina and Liene as at 30 June, 2021.

Daniel Kristina Liene 000 000 000

2,040 1,590 840

GHS1 Equity shares 800 Retained earnings 1,050

500 300

Current Liability 190

240 90

850 450 1,850 1,350 750

2,040 1,590 840

Additional Information:

1. Many years ago, Daniel bought 350,000 shares in Kristina at GHS1.70 per share when the

retained earnings in Kristina were GHS250,000.

2. Daniel and Kristina bought shares in Liene on the same day, 2 years ago, at GHS2 per

share.

3. Daniel also invested GHS68,000 on an original painting by a local artist.

4. Liene owned shares in the countrys national telephone company.

5. There were no other investments held by any of the three companies.

6. Lienes retained earnings two years ago were GHS270,000.

7. Goodwill arising from the Liene acquisition has declined by 10% this year, for the first

time since acquisition, and arising from the acquisition of Kristina, goodwill has impaired

this year for the first time by 20%.

8. The directors of Daniel had valued goodwill attributable to the non-controlling interest in

Kristina at GHS15,000 and valued the NCI on a proportional basis in Liene.

Required:

Prepare the Consolidated Statement of Financial Position for the Daniel Group as at 30 June, 2021