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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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