Question-4H 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 asa proportionate share of net assets.The draft statements of financial position of the two companies at 31 December 20X1 are:H (Rs. 000)45,00030,00028,000103,000Non-current assets:Property, plant and equipmentInvestment in SCurrent assetsTotal assetsEquityShare capitalRetained earningsNon-current liabilitiesCurrent liabilitiesTotal equity and liabilities5,00076,00081,0002,00020,000103,000Required:Prepare a consolidated statement of financial position as at 31 December 20X1.S (Rs. 000)15,00012,00027,0001,00010,00011,0006,00010,00027,000

Name: Question-4H Ltd acquired 80% of S Ltd several years ago for Rs. 30 mi
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Description: Question-4H 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 asa pr

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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

FINANCIAL ACCOUNTING

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ISBN:9781259964947

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Chapter1: Financial Statements And Business Decisions

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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