P acquired 100% of S on 1 January 20X1 for Rs. 230,000. The retained earnings of...

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P acquired 100% of S on 1 January 20X1 for Rs. 230,000. The retained earnings of S were 100,000 at that date. The statements of financial position of P and S as at 31 December 20X1 were as follows: P Rs. Assets: Investment in S, at cost Other assets Total Assets Equity Share capital Share premium Retained earnings Current liabilities Total equity & liabilities Required: A consolidated statement of financial position as at 31 December 20X1 230,000 570,000 800,000 200,000 100,000 440,000 740,000 60,000 800,000 S Rs. 240,000 240,000 50,000 20,000 125,000 195,000 45,000 240,000 P acquired 100% of S on 1 January 20X1 for Rs. 230,000. The retained earnings of S were 100,000 at that date. The statements of financial position of P and S as at 31 December 20X1 were as follows: P Rs. Assets: Investment in S, at cost Other assets Total Assets Equity Share capital Share premium Retained earnings Current liabilities Total equity & liabilities Required: A consolidated statement of financial position as at 31 December 20X1 230,000 570,000 800,000 200,000 100,000 440,000 740,000 60,000 800,000 S Rs. 240,000 240,000 50,000 20,000 125,000 195,000 45,000 240,000

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