Mokwena Limited acquired 48% investment in Masibi Limited at R100 000. At the date of acquisition, which is 31 March2016, Masibi Limited’s statement of financial position showed the following balances: Non-current assets R692 000 Current assets R44 000 Non-current liabilities R268 000 Current liabilities R218 000 Mokwena Limited applies equity accounting for all its investments in associates and joint ventures. The financial year-endfor Mokwena Limited is on 31 March of each year. What is Mokwena Limited’s share of the net assets in Masibi Limited? Select one: a. R250 000 b. R353 280 c. R120 000 d. R100 000
Mokwena Limited acquired 48% investment in Masibi Limited at R100 000. At the date of acquisition, which is 31 March2016, Masibi Limited’s statement of financial position showed the following balances: Non-current assets R692 000 Current assets R44 000 Non-current liabilities R268 000 Current liabilities R218 000 Mokwena Limited applies equity accounting for all its investments in associates and joint ventures. The financial year-endfor Mokwena Limited is on 31 March of each year. What is Mokwena Limited’s share of the net assets in Masibi Limited? Select one: a. R250 000 b. R353 280 c. R120 000 d. R100 000
Mokwena Limited acquired 48% investment in Masibi Limited at R100 000. At the date of acquisition, which is 31 March2016, Masibi Limited’s statement of financial position showed the following balances: Non-current assets R692 000 Current assets R44 000 Non-current liabilities R268 000 Current liabilities R218 000 Mokwena Limited applies equity accounting for all its investments in associates and joint ventures. The financial year-endfor Mokwena Limited is on 31 March of each year. What is Mokwena Limited’s share of the net assets in Masibi Limited? Select one: a. R250 000 b. R353 280 c. R120 000 d. R100 000
Mokwena Limited acquired 48% investment in Masibi Limited at R100 000. At the date of acquisition, which is 31 March2016, Masibi Limited’s statement of financial position showed the following balances: Non-current assets R692 000 Current assets R44 000 Non-current liabilities R268 000 Current liabilities R218 000 Mokwena Limited applies equity accounting for all its investments in associates and joint ventures. The financial year-endfor Mokwena Limited is on 31 March of each year. What is Mokwena Limited’s share of the net assets in Masibi Limited? Select one: a. R250 000 b. R353 280 c. R120 000 d. R100 000
Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.
Expert Solution
Step 1
CONSOLIDATION
Financial consolidation is the process of combining financial data from several departments or business entities within an organization, usually for reporting purposes.
When one Enterprises takes over or Invest in Other enterprises then Consolidated takes place.
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
