Question 26 The statements of financial position of three companies are as follows: Unicycle Bicycle Tricycle GHS.000 GHS000 GHS 000 Investment in Bicycle 400 Investment in Tricycle 50 300 Assets 220 340 480 670 640 460 Share capital (GHS1) Retained earnings 300 130 200 250 200 120 Page 20 of 36 Equity 430 450 320 Liabilities 240 140 670 460 Additional Information 1. Three years ago Unicycle acquired 150.000 shares in Bicycle for consideration GHS400,000 2 Two years ago Bicycle acquired 160,000 shares in Tricycle for considerasion of GHS300,000 3. One year ago Unicycle acquired 10.000 shares in Tricycle for consideration of GHS50,000 4. At the date of acquisition the carrying values of the assets and liabilities were the same as the fair values, with the exception of Bicyde's inventory that had a fair value in excess of its carrying value of GH$10.000. This inventory was sold shortly after acquisition 5. Details of the fair values of the net assets and the fair value of the effective NCI are as follows: Bicycle Net assets GHS 000 One year ago Two years ago Three years ago NCI GHS 000 75 60 50 330 300 Tricycle Net assets GHS 000 275 250 One year ago Two years ago Three years ago NCI GHS 000 160 110 90 240 Question 26 The statements of financial position of three companies are as follows: Unicycle Bicycle Tricycle GHS.000 GHS000 GHS 000 Investment in Bicycle 400 Investment in Tricycle 50 300 Assets 220 340 480 670 640 460 Share capital (GHS1) Retained earnings 300 130 200 250 200 120 Page 20 of 36 Equity 430 450 320 Liabilities 240 140 670 460 Additional Information 1. Three years ago Unicycle acquired 150.000 shares in Bicycle for consideration GHS400,000 2 Two years ago Bicycle acquired 160,000 shares in Tricycle for considerasion of GHS300,000 3. One year ago Unicycle acquired 10.000 shares in Tricycle for consideration of GHS50,000 4. At the date of acquisition the carrying values of the assets and liabilities were the same as the fair values, with the exception of Bicyde's inventory that had a fair value in excess of its carrying value of GH$10.000. This inventory was sold shortly after acquisition 5. Details of the fair values of the net assets and the fair value of the effective NCI are as follows: Bicycle Net assets GHS 000 One year ago Two years ago Three years ago NCI GHS 000 75 60 50 330 300 Tricycle Net assets GHS 000 275 250 One year ago Two years ago Three years ago NCI GHS 000 160 110 90 240