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is urgent pls. no excel solution. if possible add explanations ASSIGNMENT SIX Below are the statements of financial position of three entities as at 31
is urgent pls. no excel solution. if possible add explanations
ASSIGNMENT SIX Below are the statements of financial position of three entities as at 31 December 2019. KWABENA OPOKU APPIAH GH'000 GH'000 GH'000 Non-current asset Property, plant & equipment 959 980 840 Investments: 630,000 shares in OPOKU 805 168,000 shares in APPIAH 224 1,988 980 840 Current asset Inventory 380 640 190 Receivables 190 310 100 Bank 35 58 46 Total asset 2,593 1,988 1,176 Equity Share capital (GH1 shares) 1,120 840 560 Income surplus 1,232 448 2,352 1,442 1,008 Current liabilities Trade payables 150 480 136 Taxation 90 66 32 Total equity & liabilities 2,593 1,988 1,176 602 Additional information: 1. KWABENA acquired its shares in OPOKU on 1 January 2019 when OPOKU had income surplus of GH160,000. NCIs are to be valued at their fair value at the date of acquisition. The fair value of the NCI holding in BB at 1 January 2019 was GH250,000. 2. KWABENA acquired its shares in APPIAH on 1 January 2019 when APPIAH had income surplus of GH140,000. 3. An impairment test at the year ended shows that the goodwill for OPOKU remains unimpaired but that the investment in APPIAH is impaired by GH2,000. Required: Prepare the consolidated statement of financial position of KWABENA Group for the year ended 31 December 2019Step by Step Solution
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