Ibrahim incorporated Beta on 1 April 2010, investing 360. A year later, on 1 April 2011, Alpha

Question:

Ibrahim incorporated Beta on 1 April 2010, investing £360. A year later, on 1 April 2011, Alpha paid £500 to Ibrahim to acquire all his shares in Beta. By that date Beta’s retained earnings were £90.

Impairment of goodwill, estimated at £15, should be written off.

Required:

Prepare the Consolidated Statement of financial position of the Alpha group as at 31 December 2012.

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Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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Question Posted: Aug 29, 2023 09:58 AM

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Ibrahim incorporated Beta on 1 April 2010, investing 360. A year later, on 1 April 2011, Alpha

Question:

Statements of financial position as at 31 March 2012 Non-current assets Investments in Beta Current assets Share capital Share premium Retained earnings Current liabilities Alpha £ 900 500 340 1,740 £ 800 80 490 1,370 370 1,740 Beta £ 440 - 280 720 £ 300 60 210 570 150 720

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Consolidated Statement of financial position as at 31 March 2012 Noncurrent assets Goodw...View the full answer

Financial Accounting An Introduction

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