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Consolidation SOFP Practice

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Bhavesh Patel
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23 views1 page

Consolidation SOFP Practice

ij

Uploaded by

Bhavesh Patel
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Consolidation Basics

3) P aquired 100% of the shares of S for $60,000 on Dec


31 20x7. The non-current assets of S are a piece of land
1) P aquired 100% of the shares of S for $50,000 on Dec 31 20x7. with a fair value at acquisition of $55,000.

P S P S
Non current assets 60 50 Non current assets 60 50
Investment in S at cost 50 0 Investment in S at cost 60 0
Current assets 40 40 Current assets 40 40
150 90 160 90

Share capital 100 40 Share capital 100 40


Retained earnings 30 10 Retained earnings 30 10

Current liabilities 20 40 Current liabilities 30 40


150 90 160 90

4) P aquired 80% of the shares in S for a cost of $50,000 on 31 Dec 20x7. The
fair value of the remaining 20% in S is $15,000 and the FV of S's non-current
2) P aquired 100% of the shares of S for $60,000 on Dec 31 20x7. assets is $60,000.

P S P S
Non current assets 60 50 Non current assets 60 50
Investment in S at cost 60 0 Investment in S at cost 50 0
Current assets 40 40 Current assets 40 40
160 90 150 90

Share capital 100 40 Share capital 100 40


Retained earnings 30 10 Retained earnings 30 10

Current liabilities 30 40 Current liabilities 20 40


160 90 150 90

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