Exercise ABC PLC acquired 75% of the equity interest in XYZ PLC at 1 January 2017...

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Exercise ABC PLC acquired 75% of the equity interest in XYZ PLC at 1 January 2017 for $50,000. The Statement of Financial Position as at 1 January 2017 were as follows: (In $) (slide 32) Required: Prepare the Consolidated Statement of Financial Position as at 1 January 2017. Assets Non-current assets Property, plant and equipement Investment in XYZ PLC Current assets Total assets Equity and liabilities Fiquity Ordinary shares Retained earnings Current liabilities Total exquity and liabilities ABC PLC 30,000 50,000 80,000 45.000 125.000 80,000 25.000 105,000 20.000 125.000 XYZ PLC 32 35,000 35,000 35.000 70.000 40,000 10.000 50,000 20.000 70.000 Exercise ABC PLC acquired 75% of the equity interest in XYZ PLC at 1 January 2017 for $50,000. The Statement of Financial Position as at 1 January 2017 were as follows: (In $) (slide 32) Required: Prepare the Consolidated Statement of Financial Position as at 1 January 2017. Assets Non-current assets Property, plant and equipement Investment in XYZ PLC Current assets Total assets Equity and liabilities Fiquity Ordinary shares Retained earnings Current liabilities Total exquity and liabilities ABC PLC 30,000 50,000 80,000 45.000 125.000 80,000 25.000 105,000 20.000 125.000 XYZ PLC 32 35,000 35,000 35.000 70.000 40,000 10.000 50,000 20.000 70.000

Answer rating: 100% (QA)

Compute GoodwillCapital reserve on the date of acquisition Amount Purchase consideration p... View the full answer