Pls the question is two sheets

The question is on two sheets for your perusal

Thank you.

y Question 1 untama Ltd acquired six million of Abrepo Ltd's ordinary shares on 1 April 2016 for an agreed nsideration of GH25 million. The consideration was settled by a share exchange of five new shares Bantama Ltd for every three shares acquired in Abrepo Ltd, and a cash payment of GH5 million. ne cash transaction has been recorded, but the share exchange has not been recorded. me draft statements of financial position of the two companies as at 30 September 2016 are: Bantama Ltd Abrepo Ltd GH000 GH&000 Non-current Assets Property, Plant & Equipment 78,540.00 27,180.00 Investments in Abrepo 5,000.00 83,540.00 27,180.00 Current Assets Inventories 7,450.00 4,310.00 Trade and other receivables 12,960.00 4,330.00 Cash and cash equivalents 520.00 20,410.00 9,160.00 Total Assets 103,950.00 36,340.00 8,000.00 20,000.00 10,000.00 Equity & Liabilities Equity Share Capital (GH1 ordinary shares) 10% Preference Share Retained Earnings: At 1 October 2015 For the year to 30 September 2016 51,260.00 13,200.00 94,460.00 6,000.00 8,800.00 22,800.00 8,000.00 Non-current liabilities 8% Loan notes Current liabilities Accounts Payable Bank Overdraft Provision for taxation 4,160.00 5,920.00 1,700.00 1,870.00 9,490.00 1,380.00 5,540.00 103,950.00 36,340.00 Total Equity & Liabilities Additional information 1. The fair value of Abrepo Ltd's land at the date of acquisition was GH4 million in excess of its carrying value. Abrepo Ltd's financial statements contain a note of a contingent asset for an insurance claim of GH800,000 relating to some inventory that was damaged by a flood on 5 March 2016. The insurance company is disputing the claim. Bantama Ltd has taken legal i. i. advice on the claim and believes that it is highly likely that the insurance company will settle it in full in the near future. At the date of acquisition Bantama Ltd sold an item of plant that had cost GH2 million to Abrepo Ltd for GH2.4 million. Bantama Ltd has charged depreciation of GH240,000 on this plant since it was acquired. Bantama Ltd's current account debit balance of GH820,000 with Abrepo Ltd does not agree with the corresponding balance in Abrepo Ltd's books. Investigations revealed that on 26 September 2016, Bantama Ltd charged Abrepo Ltd GH200,000 for its share of central administration costs. Abrepo Ltd has not yet recorded this invoice. Intercompany current accounts are included in accounts receivable or payable as appropriate. Abrepo Ltd paid a dividend of GH400,000 on 30 September 2016. The profit and dividend of Abrepo Ltd are deemed to accrue evenly throughout the year. Abrepo Ltd's retained earnings of GH8.8 million for the year to 30 September 2016 as shown in its statement of financial position is after the deduction of the dividend. Bantama Ltd's policy is to credit to income only those dividends received from post-acquisition profits. Bantama Ltd has not yet accounted for the dividend from Abrepo Ltd. The cheque has been received but not banked. At the year-end an impairment review was carried out on the consolidated goodwill arising on the acquisition of Abrepo Ltd, and an impairment loss of GH595,000 was identified. No adjustment has yet been made for this. It is group policy to value non-controlling interest at acquisition at its proportionate share of the fair value of the subsidiary's identifiable net assets. equired: epare the consolidated statement of financial position of Bantama Ltd group as at 30 September -16. y Question 1 untama Ltd acquired six million of Abrepo Ltd's ordinary shares on 1 April 2016 for an agreed nsideration of GH25 million. The consideration was settled by a share exchange of five new shares Bantama Ltd for every three shares acquired in Abrepo Ltd, and a cash payment of GH5 million. ne cash transaction has been recorded, but the share exchange has not been recorded. me draft statements of financial position of the two companies as at 30 September 2016 are: Bantama Ltd Abrepo Ltd GH000 GH&000 Non-current Assets Property, Plant & Equipment 78,540.00 27,180.00 Investments in Abrepo 5,000.00 83,540.00 27,180.00 Current Assets Inventories 7,450.00 4,310.00 Trade and other receivables 12,960.00 4,330.00 Cash and cash equivalents 520.00 20,410.00 9,160.00 Total Assets 103,950.00 36,340.00 8,000.00 20,000.00 10,000.00 Equity & Liabilities Equity Share Capital (GH1 ordinary shares) 10% Preference Share Retained Earnings: At 1 October 2015 For the year to 30 September 2016 51,260.00 13,200.00 94,460.00 6,000.00 8,800.00 22,800.00 8,000.00 Non-current liabilities 8% Loan notes Current liabilities Accounts Payable Bank Overdraft Provision for taxation 4,160.00 5,920.00 1,700.00 1,870.00 9,490.00 1,380.00 5,540.00 103,950.00 36,340.00 Total Equity & Liabilities Additional information 1. The fair value of Abrepo Ltd's land at the date of acquisition was GH4 million in excess of its carrying value. Abrepo Ltd's financial statements contain a note of a contingent asset for an insurance claim of GH800,000 relating to some inventory that was damaged by a flood on 5 March 2016. The insurance company is disputing the claim. Bantama Ltd has taken legal i. i. advice on the claim and believes that it is highly likely that the insurance company will settle it in full in the near future. At the date of acquisition Bantama Ltd sold an item of plant that had cost GH2 million to Abrepo Ltd for GH2.4 million. Bantama Ltd has charged depreciation of GH240,000 on this plant since it was acquired. Bantama Ltd's current account debit balance of GH820,000 with Abrepo Ltd does not agree with the corresponding balance in Abrepo Ltd's books. Investigations revealed that on 26 September 2016, Bantama Ltd charged Abrepo Ltd GH200,000 for its share of central administration costs. Abrepo Ltd has not yet recorded this invoice. Intercompany current accounts are included in accounts receivable or payable as appropriate. Abrepo Ltd paid a dividend of GH400,000 on 30 September 2016. The profit and dividend of Abrepo Ltd are deemed to accrue evenly throughout the year. Abrepo Ltd's retained earnings of GH8.8 million for the year to 30 September 2016 as shown in its statement of financial position is after the deduction of the dividend. Bantama Ltd's policy is to credit to income only those dividends received from post-acquisition profits. Bantama Ltd has not yet accounted for the dividend from Abrepo Ltd. The cheque has been received but not banked. At the year-end an impairment review was carried out on the consolidated goodwill arising on the acquisition of Abrepo Ltd, and an impairment loss of GH595,000 was identified. No adjustment has yet been made for this. It is group policy to value non-controlling interest at acquisition at its proportionate share of the fair value of the subsidiary's identifiable net assets. equired: epare the consolidated statement of financial position of Bantama Ltd group as at 30 September -16