Question-4 H Ltd acquired 80% of S Ltd several years ago for Rs. 30 million. The balance on S Ltd's retained earnings was Rs. 5,000,000 at the date of acquisition. H Ltd's policy is to measure non-controlling interest at the date of acquisition as a proportionate share of net assets. The draft statements of financial position of the two companies at 31 December 20X1 are: H (Rs. 000) Non-current assets: Property, plant and equipment Investment in S Current assets Total assets Equity Share capital Retained earnings Non-current liabilities. Current liabilities Total equity and liabilities 45,000 30,000 28,000 103,000 5,000 76,000 81,000 2,000 20,000 103,000 Required: Prepare a consolidated statement of financial position as at 31 December 20X1. S (Rs. 000) 15,000 12,000 27,000 1,000 10,000 11,000 6,000 10,000 27,000
Question-4 H Ltd acquired 80% of S Ltd several years ago for Rs. 30 million. The balance on S Ltd's retained earnings was Rs. 5,000,000 at the date of acquisition. H Ltd's policy is to measure non-controlling interest at the date of acquisition as a proportionate share of net assets. The draft statements of financial position of the two companies at 31 December 20X1 are: H (Rs. 000) Non-current assets: Property, plant and equipment Investment in S Current assets Total assets Equity Share capital Retained earnings Non-current liabilities. Current liabilities Total equity and liabilities 45,000 30,000 28,000 103,000 5,000 76,000 81,000 2,000 20,000 103,000 Required: Prepare a consolidated statement of financial position as at 31 December 20X1. S (Rs. 000) 15,000 12,000 27,000 1,000 10,000 11,000 6,000 10,000 27,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Question-4
H Ltd acquired 80% of S Ltd several years ago for Rs. 30 million. The balance on S Ltd's retained earnings was Rs.
5,000,000 at the date of acquisition. H Ltd's policy is to measure non-controlling interest at the date of acquisition as
a proportionate share of net assets.
The draft statements of financial position of the two companies at 31 December 20X1 are:
H (Rs. 000)
45,000
30,000
28,000
103,000
Non-current assets:
Property, plant and equipment
Investment in S
Current assets
Total assets
Equity
Share capital
Retained earnings
Non-current liabilities
Current liabilities
Total equity and liabilities
5,000
76,000
81,000
2,000
20,000
103,000
Required:
Prepare a consolidated statement of financial position as at 31 December 20X1.
S (Rs. 000)
15,000
12,000
27,000
1,000
10,000
11,000
6,000
10,000
27,000
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