Question $(15$ marks$)$

The draft statement of financial positions of X$,$ Y and Z as at $31$ December $2009$ is as follows:

X Y Z

Tshs$(000)$ Tshs$(000)$ Tshs$(000)$

Cost of shares in Y $120,000--$

Cost of shares in Z $-80,000-$

Sundry net assets $180,0008000080000$

Total $300,000160,00080,000$

Ordinary share capital $($shares of Tshs $1,000$ each$)200,000100,00050,000$

Retained earnings $100,00060,00030,000$

Total $300,000160,00080,000$

i$.$ Y acquired $40,000$ Tshs$\mathrm{.}1,000$ ordinary shares in Z on January $2008$ when the retained earnings of Z amounted to Tshs$\mathrm{.}15$ million

ii$.$ X acquired $75,000$ Tshs$\mathrm{.}1,000$ ordinary shares in Y on $30$ June $2008$ when the retained earnings of Y amounted to Tshs$\mathrm{.}40$ million and the retained earnings of Z amounted to Tshs$\mathrm{.}25$ million

iii. One third of the goodwill paid for Y and one half of the goodwill paid for Z is impaired up to $31$ December $2009$

iv$.$ Non$-$controlling interest is determined at acquisition as share of fair value of identifiable net assets at acquisition.

Required:

Prepare the Consolidated Statement of Financial Position of the X Group at $31$ December $2009$ and show workings for your calculations for consolidated goodwill, non$-$controlling interest $($NCI$)$ and consolidated retained earnings.