The following are the statements of financial position of Gold plc and Silver plc as at 1

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The following are the statements of financial position of Gold plc and Silver plc as at 1 January 20X9:

Gold plc purchased all the equity shares of Silver plc on 1 January 20X9. The assets and liabilities of Silver plc are shown in its financial statements at what are agreed to be appropriate fair values.

Required
Prepare a consolidated statement of financial position as at 1 January 20X9.

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Introduction To Financial Accounting

ISBN: 9781526803009

9th Edition

Authors: Anne Marie Ward, Andrew Thomas

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Question Posted: Jul 21, 2022 02:01 AM

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The following are the statements of financial position of Gold plc and Silver plc as at 1

Question:

ASSETS Non-current assets Property, plant and equipment Investment in Silver ple Current assets Total assets EQUITY AND LIABILITIES Equity Equity share capital Share premium Gold ple £'000 13,600 3,600 17,200 2,000 19,200 5,000 4,000 Silver ple £'000 2,500 2,500 1,000 3,500 1,000 800

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To prepare a consolidated statement of financial position we need to add the assets and liabilitie...View the full answer

Introduction To Financial Accounting

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