Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 4 The balance sheets of Pole, Sole and Mole as at 30 September 2021 are as follows: Property, plant and equipment Investments, at

Question 4The balance sheets of Pole, Sole and Mole as at 30 September 2021 are as follows:Pole$000300Sole$000Mole$00 

Question 4 The balance sheets of Pole, Sole and Mole as at 30 September 2021 are as follows: Property, plant and equipment Investments, at cost 18,000 shares in Sole 18,000 shares in Mole Goodwill Net current assets Non-current liabilities Ordinary shares Retained earnings NC 1 Additional information: (1) Pole $000 300 (2) 75 30 405 345 750 100 650 250 400 650 Sole $000 100 100 160 260 50 210 30 180 210 Mole $000 160 160 80 240 80 160 60 100 160 >>>> X 102 The issued share capital of the three companies has not been changed since incorporation and is as follows: volt profit Pole 500,000 ordinary shares, Sole 30,000 ordinary shares, and Mole 60,000 ordinary shares. The retained earnings of Sole and Mole, when the investments were acquired in 2019, were $70,000 and $30,000 respectively. (3) Pole held inventories of $50,000 and $80,000 at 30 September 2020 and 30 September 2021 respectively purchased from Sole. Sole invoiced these goods at a margin of 40% on selling price. (4) Non-controlling interest was measured as its proportionate share of the acquiree's identifiable net assets. 1:40 tio. Required: Prepare for Pole Ltd a consolidated balance sheet for the year ended 30 September 2021. (20 mark

Step by Step Solution

3.40 Rating (153 Votes )

There are 3 Steps involved in it

Step: 1

Consolidated balance sheet As of 30 September 2021 Property plant and equi... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Modern Advanced Accounting In Canada

Authors: Hilton Murray, Herauf Darrell

7th Edition

1259066487, 978-1259066481

More Books

Students also viewed these Accounting questions

Question

Find the derivative of the function. y = e 2x tan 2x

Answered: 1 week ago