Question 1 The statements of financial position of two companies are as follows: Cyprus Nicosia GHS’m GHS’m Non-current assets Tangible 100 250 Investment in Nicosia 400 Current assets 300 350 800 600 Ordinary shares (GHS1) 250 200 Retained earnings 250 100 Equity 500 300 Non-current liabilities 140 170 Current liabilities 160 130 800 600 Additional information Cyprus acquired 150 million shares in Nicosia one year ago when the retained earnings of Nicosia were GHS60 million and the value of the NCI in Nicosia was GHS65 million. Required: Prepare the consolidated statement of financial position for Cyprus.
Question 1
The statements of financial position of two companies are as follows:
Cyprus Nicosia
GHS’m GHS’m
Non-current assets
Tangible 100 250
Investment in Nicosia 400
Current assets 300 350
800 600
Ordinary shares (GHS1) 250 200
Equity 500 300
Non-current liabilities 140 170
Current liabilities 160 130
800 600
Additional information
Cyprus acquired 150 million shares in Nicosia one year ago when the retained earnings of Nicosia were GHS60 million and the value of the NCI in Nicosia was GHS65 million.
Required:
Prepare the consolidated
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