please show all workings clearly
Question 4. The statements of financial position as at 31 December 2016 are presented for three companies below: Barr ple Bolt Ltd Farah Ltd Assets Non-Current Assets Property, plant and equipment 486,000 394,500 270,000 Investments 592,500 Current Assets Inventory Receivables Current Account Barr plc Bank and Cash 216,000 121,000 135,000 144,000 162,000 153,000 14,500 9,000 733,000 432,000 1,847,500 9,000 558,000 540,000 1.113,000 180,000 279,000 150,000 318,000 Equity and Liabilities Capital and Reserves Ordinary shares Retained Earnings Current Liabilities Trade Payables Current Account Bolt Ltd Other Payables Long-term Liabilities 6% debenture 49,500 60,000 91,500 13,000 90,000 74,500 30,000 1,847,500 150,000 733,000 558.000 Additional Information: 1. On 1" January 2014, Barr purchased 144,000 1 ordinary shares and 52,500 6% Debentures in Bolt Ltd for 547,500. The retained earnings of Bolt Ltd and the fair value of non-controlling interest in the company at the date of acquisition were 180,000 and 109,000 respectively. 2. On 15 April 2011, Barr purchased 45,000 0.50 ordinary shares in Farah Ltd for 240,000. The retained earnings of Farah Ltd stood at 45,000 on this date and the net assets had a fair value that was the same as their book value. 3. Barr plc account for goodwill using the full goodwill method and goodwill of Bolt Ltd is deemed to be impaired at 31* December 2011 by 25,000. 4. Bolt Ltd's equipment with a remaining useful life of ten years were recorded at 30,000 more than its fair value. The corrective adjustment has not been reflected in the Statement of Financial Position above. 5. Bolt Ltd sell goods to Barr plc at a mark-up of 50%. Barr ple's does not hold any inventory purchased from Bolt Ltd at 31 December 2016. However, Bolt Ltd shipped inventory to Barr plc on 28 December 2016, which was not received by Barr plc until 30 January 2017. This shipment accounts for the difference in the inter-company current accounts above. Requirement: 134 (a) Prepare the consolidated Statement of Financial Position for Barr Group as at 31 December 2016, showing the following accounts: Cost of Control Non-Controlling Interests Consolidated Reserves 45 mark Question 4. The statements of financial position as at 31 December 2016 are presented for three companies below: Barr ple Bolt Ltd Farah Ltd Assets Non-Current Assets Property, plant and equipment 486,000 394,500 270,000 Investments 592,500 Current Assets Inventory Receivables Current Account Barr plc Bank and Cash 216,000 121,000 135,000 144,000 162,000 153,000 14,500 9,000 733,000 432,000 1,847,500 9,000 558,000 540,000 1.113,000 180,000 279,000 150,000 318,000 Equity and Liabilities Capital and Reserves Ordinary shares Retained Earnings Current Liabilities Trade Payables Current Account Bolt Ltd Other Payables Long-term Liabilities 6% debenture 49,500 60,000 91,500 13,000 90,000 74,500 30,000 1,847,500 150,000 733,000 558.000 Additional Information: 1. On 1" January 2014, Barr purchased 144,000 1 ordinary shares and 52,500 6% Debentures in Bolt Ltd for 547,500. The retained earnings of Bolt Ltd and the fair value of non-controlling interest in the company at the date of acquisition were 180,000 and 109,000 respectively. 2. On 15 April 2011, Barr purchased 45,000 0.50 ordinary shares in Farah Ltd for 240,000. The retained earnings of Farah Ltd stood at 45,000 on this date and the net assets had a fair value that was the same as their book value. 3. Barr plc account for goodwill using the full goodwill method and goodwill of Bolt Ltd is deemed to be impaired at 31* December 2011 by 25,000. 4. Bolt Ltd's equipment with a remaining useful life of ten years were recorded at 30,000 more than its fair value. The corrective adjustment has not been reflected in the Statement of Financial Position above. 5. Bolt Ltd sell goods to Barr plc at a mark-up of 50%. Barr ple's does not hold any inventory purchased from Bolt Ltd at 31 December 2016. However, Bolt Ltd shipped inventory to Barr plc on 28 December 2016, which was not received by Barr plc until 30 January 2017. This shipment accounts for the difference in the inter-company current accounts above. Requirement: 134 (a) Prepare the consolidated Statement of Financial Position for Barr Group as at 31 December 2016, showing the following accounts: Cost of Control Non-Controlling Interests Consolidated Reserves 45 mark
