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QUESTION THREE [ 2 5 ] The following are the trial balances of H Ltd and S Ltd at 3 1 December 2 0 2
QUESTION THREE
The following are the trial balances of H Ltd and S Ltd at December
tableH LtdS LtdNoncurrent assets PPEShare Capital,Retained earnings Additional information:
H Ltd acquired of the shares in S Ltd on December when the retained
earnings for S Ltd was R
S Ltd purchased all its inventories from H Ltd at cost price plus The inventories
on S Ltds books amounted to R at December and R at
December
Assume that the cost price or carrying amount equals the current fair value.
Required:
Prepare the abbreviated consolidated Statement of Financial Position of H Ltd and its
subsidiary.
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