On 1 January 20X7 Parent Ltd acquired 75% of the ordinary shares in Daughter Ltd for £9,000
Question:
Required:
Prepare the statements of financial position of Parent Ltd and the consolidated statement of financial position as at 1 January 20X7 after each transaction, using for each question the statements of financial position of Parent Ltd and Daughter Ltd as at 1 January 20X7 which were asfollows:
Transcribed Image Text:
Parent Ltd Daughter Ltd 9,000 1,800 0,800 2,000 8,800 0,800 Ordinary shares of £l each Retained earnings 40,500 4,500 45,000 20,000 25,000 45,000 Cash Other net assets
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Parent Ltd statement of financial position as at 1 January 20X7 Ordinary shares of 1 each 40500 Reta...View the full answer
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Related Book For
Financial Accounting and Reporting
ISBN: 978-0273744443
14th Edition
Authors: Barry Elliott, Jamie Elliott
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It is the equity interest of outside investors other than of parent. In other words it is the equity in a subsidiary not attributable, directly or indirectly, to a parent. Non-controlling interest should be presented in the consolidated statement of financial position within equity, separately from the parent shareholders\' equity.
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