Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Show all necessary working Question # 01 Alpha Limited bought 100% of Beta Limited a year ago on 01 January 2019 At the date of

image text in transcribed

Show all necessary working

image text in transcribed
Question # 01 Alpha Limited bought 100% of Beta Limited a year ago on 01 January 2019 At the date of acquisition Subsidiary Limited's retained earnings stood at Rs. 300,000 and share premium 450,000. The statements ofnancial position Alpha and Beta as at 31 December 2020 were as fol lows: Non Current Assets Property Plant & Equipment Long term Investments Intangible assets Investment in Subsidiary LTd Current Assets Stock in trade Debtors Short term Investments Cash & Bank Equity and Liabilities Share Capital Share premium Retained Earnings Non Current Liabilities Loan from bank Debentures Bonds payable Current Liabilities Requirement: Prepare a consolidated statement of nancial position as at 31 December 2020 (Show all necessary workings. (15 Marks} Alpha Limited 1,920,000 4,800,000 3,360,000 1,800,000 11,880,011) 130,000 1,440,000 430,000 720,000 2,820,000 14300.0(\" 6,000,000 1,200,000 3,240,000 10,440,000 1,080,000 1,200,000 600 000 2,880,011) 3,180,000 14,700,000 Beta Limited 1,440,000 864,000 504,800 2,908,800 90,000 720,000 240,000 540,000 1,590,000 4,498,800 1,200,000 600,000 360,000 2,160,000 540,000 120,000 660,000 1,798,800 4,498,800

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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_2

Step: 3

blur-text-image_3

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

Data Analytics for Accounting

Authors: Vernon Richardson

1st edition

1260375196, 9781260375183 , 978-1260375190

More Books

Students also viewed these Accounting questions

Question

2. In what way can we say that method affects the result we get?

Answered: 1 week ago