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QUESTION 1 (35 marks) On 1st October 2017, Sugar Limited acquired 90% of Salt limited by issuing 100 000 shares at an agreed value of
QUESTION 1 (35 marks) On 1st October 2017, Sugar Limited acquired 90% of Salt limited by issuing 100 000 shares at an agreed value of N$1.60 per share and N$ 140 000 in cash. At that time, the Statement of Financial Position of Salt Limited was as follows N$ 000 190 70 30 10 40 Property plant and equipment Trade receivables Cash and cash equivalent Trade payables The Consolidated Statements of Financial Position of Sugar Limited as at 31 December were as follows 2017 2016 Ns000 N$ 000 Non-current assets Property, plant and equipment Goodwill 2 500 2 300 2 566 2 300 Current assets 1 450 1 200 1 100 1 370 Cesh and cash equivalents 16 2 836 5402 2350 4.650 Total Assets
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