Grantham Ltd. acquired 70% of Marley on 3 August, 2000 for $100,000 when the net assets ofMarley were 660,000 Swiss franc. At the date of acquisition the exchange rate wasSwiss franc 5 = $1,Goodwill was impaired by 30% in 2007.Statements of Financial Position at 31 December, 2009MSwiss franeIntangibie Non-Current AssetsTangible Non-Current AssetsInvestment in MarleyCurrest assets70,000500,000100,00080,000250,000800,0001300,000Shares100,000Pre-acquisition profitsPost-scquisition profitsNon-controlling interest600,00060,000500,000110,0001,160,00060,0001,220,00080,0001,300,000210,000Long term loans30,000240,00010,000250,000Current LiabilitiosStatements of Cemprehensive Income for the year ended 31December, 2009GSwias frane700,000300,000400,000(174,000)RevenueCast of sales200,000120,00080,000Operating profitExpensesDividend from M(25,000)14,00069,000Profit before taxТахProfit after tax25,00043,000226,00051,000175,000Non-controling interestDividend22,00021,00089.000110,000125,00050,000510,000560,000Retained eamingsExshange rate table31 December, 20085.9 Swiss franc =$16,2 Swiss franc -S16 Swiss franc $131 December, 2009Average for 2009The directors of Granthum had valued the nan-contrelling interest's investment in Marley at$42,857 at date of acquisition.RequiredPrepare the Consolidated Financial Staterments for the Grantham Group as at 31 December,2009.

Financial statement:The financial statement is the statement or the record that is prepared by the…

31 December, 2009 Average for 2009 6.2 Swiss franc-51 6 Swiss franc-$1 The directors of Grantham had valued the non-controlling interest's investment in Marley at $42,857 at date of acquisition. Required Prepare the Consolidated Financial Statements for the Grantham Group as at 31 December, 2009.

31 December, 2009 Average for 2009 6.2 Swiss franc-51 6 Swiss franc-$1 The directors of Grantham had valued the non-controlling interest's investment in Marley at $42,857 at date of acquisition. Required Prepare the Consolidated Financial Statements for the Grantham Group as at 31 December, 2009.

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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Question

Grantham Ltd. acquired 70% of Marley on 3 August, 2000 for $100,000 when the net assets of
Marley were 660,000 Swiss franc. At the date of acquisition the exchange rate was
Swiss franc 5 = $1,
Goodwill was impaired by 30% in 2007.
Statements of Financial Position at 31 December, 2009
M
Swiss frane
Intangibie Non-Current Assets
Tangible Non-Current Assets
Investment in Marley
Currest assets
70,000
500,000
100,000
80,000
250,000
800,000
1300,000
Shares
100,000
Pre-acquisition profits
Post-scquisition profits
Non-controlling interest
600,000
60,000
500,000
110,000
1,160,000
60,000
1,220,000
80,000
1,300,000
210,000
Long term loans
30,000
240,000
10,000
250,000
Current Liabilitios
Statements of Cemprehensive Income for the year ended 31
December, 2009
G
Swias frane
700,000
300,000
400,000
(174,000)
Revenue
Cast of sales
200,000
120,000
80,000
Operating profit
Expenses
Dividend from M
(25,000)
14,000
69,000
Profit before tax
Тах
Profit after tax
25,000
43,000
226,000
51,000
175,000
Non-controling interest
Dividend
22,000
21,000
89.000
110,000
125,000
50,000
510,000
560,000
Retained eamings
Exshange rate table
31 December, 2008
5.9 Swiss franc =$1
6,2 Swiss franc -S1
6 Swiss franc $1
31 December, 2009
Average for 2009
The directors of Granthum had valued the nan-contrelling interest's investment in Marley at
$42,857 at date of acquisition.
Required
Prepare the Consolidated Financial Staterments for the Grantham Group as at 31 December,
2009.

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