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Zambia The statements of financial Position of two companies for 31 st December year 1 are as follows: Zambia Lusakka $M $M Investment in Lusaka
Zambia
The statements of financial Position of two companies for 31stDecember year 1 are as follows:
| Zambia | Lusakka |
| $M | $M |
Investment in Lusaka | 500 Cost of Investment |
|
Assets | 600 | 650 |
| 1,100 | 650 |
Ordinary Shares ($1) | 400 | 200 |
Accumulated Profits | 400 | 300 |
Equity | 800 | 500 |
|
|
|
Liabilities | 300 | 150 |
| 1,100 | 650 |
Additional Information:
Zambia has today, 31st December Year 1, acquired all (100%)the shares in Lusaka for $500m
Required:
Prepare the Consolidated Statement of Financial Statement of Zambia group of companies on
31st December Year 1
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