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The summary statements of financial position of Pam Limited, a parent company, and Sam Limited, the subsidiary of Pam, are shown below as at 31
The summary statements of financial position of Pam Limited, a parent company, and Sam Limited, the subsidiary of Pam, are shown below as at 31 December 20X5. Sam Limited was acquired by Pam Limited as a subsidiary company on 31 December 20X5. Investment in Sam: 20,000 1 ordinary shares at cost Current assets Share capital (1 ordinary shares) Retained earnings Current liabilities Pam Ltd 000 40 50 90 60 20 10 90 Sam Ltd 000 45 45 20 20 5 45 Prepare a consolidated statement of financial position as at 31 December 20X5.
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