The summary statements of financial position for Apple Limited and Pear Limited are set out below. Apple
Question:
Apple Ltd purchased 150,000 shares in Pear Ltd at a price of £1.60 per share on 30 September (the above statement of financial position date). The statement of financial position of Pear Ltd reflects all of the assets of the company, net of liabilities, stated at their fair values.
Required:
Prepare a consolidated statement of financial position for Apple Ltd as at 30 September.
Transcribed Image Text:
Statements of financial position as at 30 September Apple Limited £000 Pear Limited £000 ASSETS Non-current assets 950 Property, plant and equipment Investment Shares in Pear Limited 320 240 1,190 320 Current assets Inventories 320 160 Trade receivables 180 95 Cash at bank 41 15 541 270 Total assets 1,731 590 EQUITY AND LIABILITIES Equity: £1 fully paid ordinary shares 700 200 Reserves 307 88 1,007 288 Non-current liabilities Loan notes 500 160 Current assets Trade payables 170 87 Taxation 54 55 224 1,731 142 Total equity and liabilities 590
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The statement of financial position of Apple Ltd and its subsidiary will be as follows Statement of ...View the full answer
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Related Book For
Financial Accounting for Decision Makers
ISBN: 978-0273763451
6th Edition
Authors: Peter Atrill, Eddie McLaney
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