Alpha paid 1,000 to acquire the whole of Betas equity on 1 April 2008 when: (a) Investments

Question:

Alpha paid £1,000 to acquire the whole of Beta’s equity on 1 April 2008 when:

(a) Investments held by Beta were quoted in the share market at £210; and

(b) Beta’s retained earnings were £180.

In 2010 a goodwill impairment of £20 was written off.

Required:

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

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

See More Books

Question Posted: Aug 29, 2023 09:58 AM

See More Questions

Alpha holds investments in two other entities, Beta and Gamma. All three entities prepare financial statements to 31 March and the statement of financial positions of the three entities at 31 March...
Alpha plc paid 180 to acquire the whole of the equity in Beta plc on 1 January 2012, immediately upon Betas incorporation. The Statements of financial position of both companies, a year after...
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
Two thousand kg of water, initially a saturated liquid at 150C, is heated in a closed, rigid tank to a final state where the pressure is 2.5 MPa. Determine the final temperature, in C. the volume of...
What are the measurement issues to consider when using return on investment (ROI)?
Consider the Mortgage Service Process shown in Figure 5.4 , and assume the Title Search cycle time has changed to 60 minutes. a. What is the bottleneck operation and corresponding system capacity? b....
Determine in which direction the current loop rotates $(a)$ in Figure $28.21 c$ and $(b)$ in Figure 28. 21d. Data from Figure 28. 21 (a) ! 21 (e) (d) (2)
The following misstatements are included in the inventory and related records of Westbox Manufacturing Company: 1. An inventory item was priced at $12 each instead of at the correct cost of $12 per...
Which OSI layer is responsible for connection - oriented communication?
Alpha plc paid 1,480 to acquire 2,400 shares in Beta plc. On the date of acquisition Beta plc had an accumulated loss of 180, though its property, plant and equipment had a fair value which exceeded...
Which of the following statement(s) apply when consolidating Statements of financial position? (a) All inter-company balances should be cancelled (b) The group share of the whole of subsidiarys...
Find the first partial derivatives of the following functions. f(x, y, z)= ex+2y+3z
Naz Sdn. Bhd. involves in a car maintenance program. Listed below are the business rules for the company. (1) (2) (3) (4) (5) (6) A customer can own many cars Some customers do not own cars. (a) (b)...
Required: 1. Include a logical data-flow diagram of the current dispatching system, 2. Propose improvement to the logical data-flow diagram to the dispatching system and state the expected benefits...
Katrina owns undeveloped land with an adjusted basis of $300,000. She exchanges it for other undeveloped land worth $750,000. Assume that Katrina holds the land as an investment. If an amount is...
Periodic inventory by three methods; cost of goods sold The units of an item available for sale during the year were as follows: Jan. 1 Mar. 10 Aug. 30 Inventory Purchase 180 units at $108 224 units...
Consider an agent whose behavior is best described by expected utility. Calculate the value of the following prospect for the agent, assuming u(x) =x and initial wealth w = 1000 Payoff Probability...
How do you explain the fact that years ago, cheese was considered the poor person's food, selling for less than a quarter of the price of beef? Today, beef and cheese are priced approximately the...
Willingness to pay as a measure of a person's value for a particular good measures the maximum a person would be willing to pay requires that payment actually be made depends on the satisfaction that...
What kinds of security problems do mobile computing devices pose?
What management, organizational, and technology factors must be addressed by smartphone security ?
What steps can individuals and businesses take to make their smartphones more secure?
Prepare the journal entries to record all the events related to the copyright during 2025.
Calculate the loan to value for each tranche of debt, given the information below: Value of the building is $1.0 billion Mortgage Debt A1 of $300 million (pari-passu with A2) Mortgage Debt A1 of $200...
The Phase I Balboa Towers Apartment complex is a 450 unit apartment complex located in Orange County, CA. Over the course of 2016, the Subject Property performed based on the below operating metrics:...

Alpha paid 1,000 to acquire the whole of Betas equity on 1 April 2008 when: (a) Investments

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 £ 1,000 1,000 480 2,480 £ 1,200 180 590 1,970 510 2,480 Beta £ 780 120 320 1,220 £ 600 60 390 1,050 170 1,220

Step by Step Answer:

Consolidated Statement of financial position as at ...View the full answer

Financial Accounting An Introduction

Students also viewed these Business questions