Question: From the following data, construct a consolidated statement of changes in equity for the year ended 30 September 2022. Company A Equity Statement as at

From the following data, construct a consolidated statement of changes in equity for the year ended 30 September 2022.

Company A Equity Statement as at 30 September 2022:

  • Share Capital: £600,000
  • Retained Earnings:
    • As at 30.09.2021: £150,000
    • Add Profit for 2022: £40,000

Company B Equity Statement as at 30 September 2022:

  • Share Capital: £300,000
  • Retained Earnings:
    • As at 30.09.2021: £60,000
    • Add Profit for 2022: £20,000

Additional Information: Company A acquired 70% of Company B on 1 October 2021. Dividends declared by Company B during the year totaled £10,000.

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