Q8. The following are the summarized information that relate to the Joy Ltd. group of companies as at 31/05/2022, were as follows: |Sad Ltd. AAM Ltd. Joy Ltd. GH GH GH Non-current assets Sundry non-current 130.000 50,000 170.000 Investments 35,000 equity shares in Sad Ltd. 120,000 00 00 00 000 000 001 100% 060 0.000 0.000 .000 1.000 5,000 0.000 balance 20,000 ce sheet) ce with d ination group id 78.000 equity shares in Joy Ltd. 150,000 00.000 00,000 250,000 140,000 320,000 Current assets Inventories 20,000 17,000 35,000 Accounts receivables 29,000 40,000 44,000 Cash and bank 31,000 20,000 22,000 Current liabilities Accounts payables (34,500) (27,000) (40,000) Income tax (20,500) (14,000) (11,000) Total net assets 275.000 176.000 370.000 Financed by Equity shares @ GH1.00 each 120,000 40.000 130,000 Capital surplus 70,000 35,000 100,000 Income surplus 31/03/2022 35,000 38,000 74,000 Income surplus 31/03/2021 20,000 32,000 11.000 Income surplus 31/03/2020 30.000 31,000 55,000 275.000 176.000 370.000 Additional information: a) Shares in each group-member company do not have par values at issue. b) Joy Ltd. acquired its holdings in Sad Ltd. on 01/04/2020 when the balance on the capital surplus had been GH23,000. c) AAM Ltd. acquired its holdings in Joy Ltd. on 01/04/2021 when the balance on the capital surplus had been GHe45,000. dy The market value of non-controlling interest was GHe 25,000 and GH42,000 for Sad Lid. and Joy Ltd. respectively. Required: Prepare the consolidated statement of financial position (balance sheet) of AAM Ltd. and its subsidiaries as at 30/04/2022 for internal use in accordance with the Companies Act, 2019 Act 992 section 131 and IFRS 3 Business Combination and other applicable IFRSS for internal use. 00,000 ERSITY Q8. The following are the summarized information that relate to the Joy Ltd. group of companies as at 31/05/2022, were as follows: |Sad Ltd. AAM Ltd. Joy Ltd. GH GH GH Non-current assets Sundry non-current 130.000 50,000 170.000 Investments 35,000 equity shares in Sad Ltd. 120,000 00 00 00 000 000 001 100% 060 0.000 0.000 .000 1.000 5,000 0.000 balance 20,000 ce sheet) ce with d ination group id 78.000 equity shares in Joy Ltd. 150,000 00.000 00,000 250,000 140,000 320,000 Current assets Inventories 20,000 17,000 35,000 Accounts receivables 29,000 40,000 44,000 Cash and bank 31,000 20,000 22,000 Current liabilities Accounts payables (34,500) (27,000) (40,000) Income tax (20,500) (14,000) (11,000) Total net assets 275.000 176.000 370.000 Financed by Equity shares @ GH1.00 each 120,000 40.000 130,000 Capital surplus 70,000 35,000 100,000 Income surplus 31/03/2022 35,000 38,000 74,000 Income surplus 31/03/2021 20,000 32,000 11.000 Income surplus 31/03/2020 30.000 31,000 55,000 275.000 176.000 370.000 Additional information: a) Shares in each group-member company do not have par values at issue. b) Joy Ltd. acquired its holdings in Sad Ltd. on 01/04/2020 when the balance on the capital surplus had been GH23,000. c) AAM Ltd. acquired its holdings in Joy Ltd. on 01/04/2021 when the balance on the capital surplus had been GHe45,000. dy The market value of non-controlling interest was GHe 25,000 and GH42,000 for Sad Lid. and Joy Ltd. respectively. Required: Prepare the consolidated statement of financial position (balance sheet) of AAM Ltd. and its subsidiaries as at 30/04/2022 for internal use in accordance with the Companies Act, 2019 Act 992 section 131 and IFRS 3 Business Combination and other applicable IFRSS for internal use. 00,000 ERSITY
