The following additional information should be taken into account insofar as it is relevant:

(i) Losef bought 320000 ordinary shares in Mosef on 1 August 2019, when the other equity reserves of Mosef were N$20 000 and the retained earnings of Mosef were N$132 000. The consideration was agreed at N$800 000. This was satisfied by the issue of 200 000 equity shares by Losef at an agreed fair valuation of N$750 000, plus N$50 000 to be paid by Losef on 31 July 2020 if the profit target for the year (N$15 000) was met by Mosef. The contingent element of the consideration was recorded at its fair value of N$38 000 at 1 August 2019. As it turned out, significant losses were incurred by Mosef in the year to 31 July 2020. Consequently, nothing is payable by Losef on 31 July 2020 under this part of the deal. No entry has been made by Losef to reflect this change in expectation.

(ii) The group accounting policy is to value any Non-Controlling Interests (NCI) at their fair value at the acquisition date. On the date, Losef acquired its interest in Mosef, the fair value of the NCI in Mosef was N$130 000.

(iii) At 1 August 2019, some equipment held by Mosef had a fair value N$25 000 in excess of its carrying value. This equipment had a remaining useful economic life of 5 years at that date.

(iv) Losef bought a 30% holding in the ordinary shares of Husef on 1 August 2019, when the other equity reserves of Husef were N$75 000 and the retained earnings balance in Husef books stood at N$60 000. The consideration consisted of an immediate cash payment of N$112 000. Losef exerts significant influence over Husef as a result of this shareholding. Other investments are held by all three companies. These are equity investments and not more than 5% of the issued share capital is held in any of these individual entities.

(v) During the financial year ended 31 July 2020, Mosef sold goods to Losef for N$30 000. These goods were sold at a mark-up on cost of 100%. Of these goods, 40% of these goods remained in the inventory of Losef at 31 July 2020: N$2 500 of the cost of these goods remains unpaid by Losef at 31 July 2020.

(vi) No dividends were paid or proposed in the year by any of the companies.

(vii) Due to the unexpected losses incurred by Mosef during the year, an impairment review was undertaken on 31 July 2020 and goodwill was found to be impaired by 60% of its acquisition value. There was no impairment necessary in respect of the investment in Husef.

1.Calculate the amount to be shown in the consolidated SFP at the reporting date in respect of property plant and equipment

2.Calculate the amount to be shown in the consolidated SFP at the reporting date in respect of other investments other than investments in associates

3.Calculate the amount to be shown in the consolidated SFP at the reporting date in respect of total current assets

4.Calculate the amount to be shown in the consolidated SFP at the reporting date in respect of total current liabilities

Losef Pty Mosef Ptyl Husef Pty N$ 000 N$ 000 N$ 000 Non-current assets: 758 3261 1591 Property, plant & equipment Investments 40 25 1,200 1,958 366 1841 Current assets Inventories 235 1531 65 188 134 42 Trade receivables Cash & bank 100 36 20 523 323 127 Total assets 2.481 689 311 1,000 400 100 Equity: Equity share capital of N$1 each Other equity reserves Retained earnings 200 301 801 977 112 70 2.177 542 250 Current liabilities 38 Contingent consideration Trade payables Taxation 161 127 461 251 20 15 Dividends proposed 80 304 147 61 Total equity & liabilities 2481 689 311 Losef Pty Mosef Ptyl Husef Pty N$ 000 N$ 000 N$ 000 Non-current assets: 758 3261 1591 Property, plant & equipment Investments 40 25 1,200 1,958 366 1841 Current assets Inventories 235 1531 65 188 134 42 Trade receivables Cash & bank 100 36 20 523 323 127 Total assets 2.481 689 311 1,000 400 100 Equity: Equity share capital of N$1 each Other equity reserves Retained earnings 200 301 801 977 112 70 2.177 542 250 Current liabilities 38 Contingent consideration Trade payables Taxation 161 127 461 251 20 15 Dividends proposed 80 304 147 61 Total equity & liabilities 2481 689 311