b. The following are the statements of changes in equity for Islington and Southwark for the...
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b. The following are the statements of changes in equity for Islington and Southwark for the year ended 31 March 2017: Islington ($) Southwark (S) 210,000 Equity b/f 125,000 50,000 35,000 Comprehensive income Dividends (15,000) (10,000) 245.000 150.000 3/5 Islington acquired 75% of Southwark's equity shares on 1 April 2014 when Sour' assets had a fair value of $80,000. No fair value adjustments were required at a is Islington's group policy to record NCIS at fair value at acquisition. The NCI Southwark had a fair value of $25,000 at the date of acquisition. Requirement: Prepare the consolidated statement of changes in equity for the year ended 31 March 2017. b. The following are the statements of changes in equity for Islington and Southwark for the year ended 31 March 2017: Islington ($) Southwark (S) 210,000 Equity b/f 125,000 50,000 35,000 Comprehensive income Dividends (15,000) (10,000) 245.000 150.000 3/5 Islington acquired 75% of Southwark's equity shares on 1 April 2014 when Sour' assets had a fair value of $80,000. No fair value adjustments were required at a is Islington's group policy to record NCIS at fair value at acquisition. The NCI Southwark had a fair value of $25,000 at the date of acquisition. Requirement: Prepare the consolidated statement of changes in equity for the year ended 31 March 2017.
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Calculations Postacquistion earnings of Southwark Equity bf in 2017fair value ... View the full answer
Related Book For
Financial Accounting and Reporting
ISBN: 978-0273744443
14th Edition
Authors: Barry Elliott, Jamie Elliott
Posted Date:
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