Hello, i would like to ask for explanation on how to do this. Thanks

BUS 20283 Topic 3 Tutorial Assignment Group Reporting Consol. FIP 1 (iv) 10% of goodwill was written off as impairment loss. (v) A Ltd did not follow the depreciation policies of P Ltd. Required: Prepare a consolidated statement of nancial position for the group of P Ltd as at 31 December 203:2. Hints: Workings: % of Shareholdings of investment in A Ltd: Shareholdings in A Ltd = Total ordinary shares issued by Medium Ltd : Therefore, the 96 of shareholdings : 1. Unrealised prot in inventory: Consolidation Adjustment Journals Dr Cr Consol. RIP Consol. CIS - COS Inventory 2. Dividends receivable by P Ltd out of the pre-acquisition prot of A Ltd: Ledger Adjustment Journals Dr Cr RIP P/L Dividend income (P Ltd) Investment in A Ltd 3. Change in fair value of plant and machinery in A Ltd at the acq. date: 0) Cost of plant and machinery Accumulated depreciation, 3] .12.20X2 Less: depreciation expense Accumulated depreciation, l. 1.20X2 Carrying amount at 1.]. 20x2 Less: fair value at 1.1.20X2 Increase in fair value at the acq. date (ii) Excess depreciation charged by A Ltd at 10% on cost of PPE: BUS 20283 Topic 3 Tutorial Assignment - Group Reporting - Consol. F/P I Consolidation Adjustment Journals (i) Revalue PPE to fair value at acq. date by P Lid for consolidation purpose: Dr Cr Accumulated depreciation Plant and machinery Fair value adjustment reserve (for A Ltd) (ii) Eliminate excess depreciation charged by A Ltd in 20X2 due to different depreciation policy: Accumulated depreciation Consol. R/P - Consol. CIS - Depreciation NCI - Consol. CIS - Depreciation 4. Goodwill impairment: Dr Cr Consol. R/P - Consol. CIS - Goodwill impairment NCI - Consol. CIS - Goodwill impairment Goodwill Consolidation Schedules a. Calculation of Goodwill $ $ Cost of Investment in subsidiary Less: Recovery of investments from pre-acq. dividend Fair value of NCI Fair value of subsidiary (at acq. date) Less: FV of net assets in subsidiary (at acq. date): Share capital General reserve Retained profits (pre-acq.) Fair value adjustment reserve (for A Ltd) Goodwill (at acq. date) Less: Impairment loss Goodwill (at report date) Parent's share at NCI's share atBUS 20283 Topic 3 Tutorial Assignment - Group Reporting - Consol. F/P I b . Non-controlling Interests $ Share capital General reserve Retained profits (pre+post acq.) Fair value adjustment reserve FV of net assets in subsidiary (at report date) NCI's share in net assets at NCI's share in goodwill Add: Excess depreciation on PPE C . Consolidated Retained Profits $ $ P Ltd: Medium Ltd: R/P at report date Less: Pre-acquisition Post Acquisition Parent's share at Add: Excess depreciation on PPE Less: Impairment loss of goodwill Unrealized profit in inventoryBUS 20283 Topic 3 Tutorial Assignment - Group Reporting - Consol. F/P I P Ltd Consolidated Statement of Financial Position as at 31 December 20X2 Non-current assets Plant and machinery Less : accumulated depreciation Goodwill Current assets Stock Debtors Cash at bank Less: current liabilities: Creditors Share capital and reserves Ordinary shares General reserve Retained profits Equity attributable to equity holders of the company Non-controlling interests 9 of 9 9