Task 3:
Prepare consolidated Statement of Financial Position for the group clearly showing the workings for non-controlling interest, goodwill and group retained earnings.
is now the end of the year 2019. You extract data from anover's ERP system and pool together information from which you prepare the draft Statement of Financial Position of Hanover Corporation SAOG and Sandrigo Corporation SAOG.You contact and the receive the draft financials of Sandrigo Corporation SADG from their Account You gather that Hanover Corp acquired 44.000 share of Sandrigo Corporation on 1 January 2016 for Omani Rials 200,000. The retained earnings of Sandrine Corporation on that date were Omani Rals 8,000 and market price per share of Sandrigo Corporation was Omani Rials 45 per share During the year Sandrigo Corporation sold goods to Huover for 50.000 a mark up of 30% Sok of the goods sold by Sandrigo Corporation are wild by over at the end of year Hanover owed Omani Rials 10,000 for goods bought and i det is included in the Accounts payables of Hanover and Account receivable of Sandris Corse hestion date the value of Sandrigo Corp Land and Buildings was Omani Rials 1.000 greater than their net book value The statements of financial position of Hanower and Sandrigo Corporation on 31 December 2019 areas below Oman Sandro Omani 2.000 Assets Non Current Assets Land & Building Plant and equipment Motor vehicles Investments in Sandro 2.000 24,000 000 24.000 250.000 110.000 Current 3.000 4,000 10.000 Accounts Receivables Inventory 74.000 118.000 228.000 $20,000 300.000 140.000 42.000 Total Assets Equity and abilities Share Capital Omani Rial 2.5 per share] Retained Gaming Share premium Long term loan Accounts Payables Total Equity and Liabilities 8.000 12.000 12,000 22,000 228.000 YOU SET OUT TO PREPARE THE GROUP CONSOLIDATED FINANCIAL STATEMENTS IN COMPLIANCE WITH IFRS 10 FOR SUBMISSION TO THE CAPITAL MARKET AUTHORITY Inventory 74,000 74,000 170,000 118,000 Total Assets 520,000 228,000 Equity and Liabilities Share Capital (Omani Rial 2.5 per share) 300,000 140,000 Retained Earnings 72,000 42,000 Share premium 8,000 12,000 76,000 12,000 Long term loan Accounts Payables Total Equity and Liabilities 64,000 22,000 520,000 228,000 YOU SET OUT TO PREPARE THE GROUP CONSOLIDATED FINANCIAL STATEMENTS IN COMPLIANCE WITH IFRS 10 FOR SUBMISSION TO THE CAPITAL MARKET AUTHORITY. Task 3: It is now the end of the year 2019. You extract data from Hanover's ERP system and pool together information from which you prepare the draft Statement of Financial Position of Hanover Corporation SAOG and Sandrigo Corporation SAOG . You contact and also receive the draft financials of Sandrigo Corporation SAOG from their Accountant. You gather that Hanover Corp acquired 44,000 share of Sandrigo Corporation on 14 January 2015 for Omani Rials 200,000. The retained earnings of Sandrigo Corporation on that date were Omani Rials 8,000 and market price per share of Sandrigo Corporation was Omani Rials 4.5 per share. During the year Sandrigo Corporation sold goods to Hanover for 50,000 at a mark- up of 30%. 50% of the goods sold by Sandrigo Corporation are still unsold by Hanover at the end of year. Hanover owed Omani Rials 10,000 for goods bought and this debt is included in the Accounts payables of Hanover and Account receivable of Sandrigo Corp. At the acquisition date the value of Sandrigo Corp Land and Buildings was Omani Rials 18,000 greater than their net book value. The statements of financial positions of Hanover and Sandrigo Corporation on 31 December 2019 are as below. (Omani Sandrigo Rials) Assets: Hanover (Omani Rials) Non-Current Assets Land & Buildings Plant and equipment 40,000 62,000 52,000 24,000 58,000 24,000 Motor vehicles Investments in Sandrigo 200,000 350,000 110,000 Current Assets: Cash 16,000 4,000 Accounts Receivables 80,000 40,000 Inventory 74,000 74,000 170,000 118,000 Hanover (Omani Rials) Sandrigo (Omani Rials) Assets: Non-Current Assets Land & Buildings Plant and equipment Motor vehicles Investments in Sandrigo 40,000 52,000 58,000 200,000 350,000 62,000 24,000 24,000 110,000 Current Assets: Cash 16,000 4,000 Accounts Receivables Inventory 80,000 74,000 170,000 520,000 40,000 74,000 118,000 228,000 Total Assets Equity and Liabilities Share Capital (Omani Rial 2.5 per share) Retained Earnings Share premium Long term loan Accounts Payables Total Equity and Liabilities 300,000 72,000 8,000 76,000 64,000 520,000 140,000 42,000 12,000 12,000 22,000 228,000 Task 3: It is now the end of the year 2019. You extract data from Hanover's ERP system and pool together information from which you prepare the draft Statement of Financial Position of Hanover Corporation SAOG and Sandrigo Corporation SAOG. You contact and also receive the draft financials of Sandrigo Corporation SAOG from their Accountant. You gather that Hanover Corp acquired 44,000 share of Sandrigo Corporation on 1st January 2016 for Omani Rials 200,000. The retained earnings of Sandrigo Corporation on that date were Omani Rials 8,000 and market price per share of Sandrigo Corporation was Omani Rials 4.5 per share. During the year Sandrigo Corporation sold goods to Hanover for 50,000 at a mark-up of 30%. 50% of the goods sold by Sandrigo Corporation are still unsold by Hanover at the end of year. Hanover owed Omani Rials 10,000 for goods bought and this debt is included in the Accounts payables of Hanover and Account receivable of Sandrigo Corp. At the acquisition date the value of Sandrigo Corp Land and Buildings was Omani Rials 18,000 greater than their net book value. The statements of financial positions of Hanover and Sandrigo Corporation on 31st December 2019 are as below. is now the end of the year 2019. You extract data from anover's ERP system and pool together information from which you prepare the draft Statement of Financial Position of Hanover Corporation SAOG and Sandrigo Corporation SAOG.You contact and the receive the draft financials of Sandrigo Corporation SADG from their Account You gather that Hanover Corp acquired 44.000 share of Sandrigo Corporation on 1 January 2016 for Omani Rials 200,000. The retained earnings of Sandrine Corporation on that date were Omani Rals 8,000 and market price per share of Sandrigo Corporation was Omani Rials 45 per share During the year Sandrigo Corporation sold goods to Huover for 50.000 a mark up of 30% Sok of the goods sold by Sandrigo Corporation are wild by over at the end of year Hanover owed Omani Rials 10,000 for goods bought and i det is included in the Accounts payables of Hanover and Account receivable of Sandris Corse hestion date the value of Sandrigo Corp Land and Buildings was Omani Rials 1.000 greater than their net book value The statements of financial position of Hanower and Sandrigo Corporation on 31 December 2019 areas below Oman Sandro Omani 2.000 Assets Non Current Assets Land & Building Plant and equipment Motor vehicles Investments in Sandro 2.000 24,000 000 24.000 250.000 110.000 Current 3.000 4,000 10.000 Accounts Receivables Inventory 74.000 118.000 228.000 $20,000 300.000 140.000 42.000 Total Assets Equity and abilities Share Capital Omani Rial 2.5 per share] Retained Gaming Share premium Long term loan Accounts Payables Total Equity and Liabilities 8.000 12.000 12,000 22,000 228.000 YOU SET OUT TO PREPARE THE GROUP CONSOLIDATED FINANCIAL STATEMENTS IN COMPLIANCE WITH IFRS 10 FOR SUBMISSION TO THE CAPITAL MARKET AUTHORITY Inventory 74,000 74,000 170,000 118,000 Total Assets 520,000 228,000 Equity and Liabilities Share Capital (Omani Rial 2.5 per share) 300,000 140,000 Retained Earnings 72,000 42,000 Share premium 8,000 12,000 76,000 12,000 Long term loan Accounts Payables Total Equity and Liabilities 64,000 22,000 520,000 228,000 YOU SET OUT TO PREPARE THE GROUP CONSOLIDATED FINANCIAL STATEMENTS IN COMPLIANCE WITH IFRS 10 FOR SUBMISSION TO THE CAPITAL MARKET AUTHORITY. Task 3: It is now the end of the year 2019. You extract data from Hanover's ERP system and pool together information from which you prepare the draft Statement of Financial Position of Hanover Corporation SAOG and Sandrigo Corporation SAOG . You contact and also receive the draft financials of Sandrigo Corporation SAOG from their Accountant. You gather that Hanover Corp acquired 44,000 share of Sandrigo Corporation on 14 January 2015 for Omani Rials 200,000. The retained earnings of Sandrigo Corporation on that date were Omani Rials 8,000 and market price per share of Sandrigo Corporation was Omani Rials 4.5 per share. During the year Sandrigo Corporation sold goods to Hanover for 50,000 at a mark- up of 30%. 50% of the goods sold by Sandrigo Corporation are still unsold by Hanover at the end of year. Hanover owed Omani Rials 10,000 for goods bought and this debt is included in the Accounts payables of Hanover and Account receivable of Sandrigo Corp. At the acquisition date the value of Sandrigo Corp Land and Buildings was Omani Rials 18,000 greater than their net book value. The statements of financial positions of Hanover and Sandrigo Corporation on 31 December 2019 are as below. (Omani Sandrigo Rials) Assets: Hanover (Omani Rials) Non-Current Assets Land & Buildings Plant and equipment 40,000 62,000 52,000 24,000 58,000 24,000 Motor vehicles Investments in Sandrigo 200,000 350,000 110,000 Current Assets: Cash 16,000 4,000 Accounts Receivables 80,000 40,000 Inventory 74,000 74,000 170,000 118,000 Hanover (Omani Rials) Sandrigo (Omani Rials) Assets: Non-Current Assets Land & Buildings Plant and equipment Motor vehicles Investments in Sandrigo 40,000 52,000 58,000 200,000 350,000 62,000 24,000 24,000 110,000 Current Assets: Cash 16,000 4,000 Accounts Receivables Inventory 80,000 74,000 170,000 520,000 40,000 74,000 118,000 228,000 Total Assets Equity and Liabilities Share Capital (Omani Rial 2.5 per share) Retained Earnings Share premium Long term loan Accounts Payables Total Equity and Liabilities 300,000 72,000 8,000 76,000 64,000 520,000 140,000 42,000 12,000 12,000 22,000 228,000 Task 3: It is now the end of the year 2019. You extract data from Hanover's ERP system and pool together information from which you prepare the draft Statement of Financial Position of Hanover Corporation SAOG and Sandrigo Corporation SAOG. You contact and also receive the draft financials of Sandrigo Corporation SAOG from their Accountant. You gather that Hanover Corp acquired 44,000 share of Sandrigo Corporation on 1st January 2016 for Omani Rials 200,000. The retained earnings of Sandrigo Corporation on that date were Omani Rials 8,000 and market price per share of Sandrigo Corporation was Omani Rials 4.5 per share. During the year Sandrigo Corporation sold goods to Hanover for 50,000 at a mark-up of 30%. 50% of the goods sold by Sandrigo Corporation are still unsold by Hanover at the end of year. Hanover owed Omani Rials 10,000 for goods bought and this debt is included in the Accounts payables of Hanover and Account receivable of Sandrigo Corp. At the acquisition date the value of Sandrigo Corp Land and Buildings was Omani Rials 18,000 greater than their net book value. The statements of financial positions of Hanover and Sandrigo Corporation on 31st December 2019 are as below
