Question 4 The balance sheets of Pole, Sole and Mole as at 30 September 2021 are...

 

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Question 4 The balance sheets of Pole, Sole and Mole as at 30 September 2021 are as follows: Property, plant and equipment Investments, at cost 18,000 shares in Sole 18,000 shares in Mole Goodwill Net current assets Non-current liabilities Ordinary shares Retained earnings NC 1 Additional information: (1) Pole $000 300 (2) 75 30 405 345 750 100 650 250 400 650 Sole $000 100 100 160 260 50 210 30 180 210 Mole $000 160 160 80 240 80 160 60 100 160 >>>> X 102 The issued share capital of the three companies has not been changed since incorporation and is as follows: volt profit Pole 500,000 ordinary shares, Sole 30,000 ordinary shares, and Mole 60,000 ordinary shares. The retained earnings of Sole and Mole, when the investments were acquired in 2019, were $70,000 and $30,000 respectively. (3) Pole held inventories of $50,000 and $80,000 at 30 September 2020 and 30 September 2021 respectively purchased from Sole. Sole invoiced these goods at a margin of 40% on selling price. (4) Non-controlling interest was measured as its proportionate share of the acquiree's identifiable net assets. 1:40 tio. Required: Prepare for Pole Ltd a consolidated balance sheet for the year ended 30 September 2021. (20 mark Question 4 The balance sheets of Pole, Sole and Mole as at 30 September 2021 are as follows: Property, plant and equipment Investments, at cost 18,000 shares in Sole 18,000 shares in Mole Goodwill Net current assets Non-current liabilities Ordinary shares Retained earnings NC 1 Additional information: (1) Pole $000 300 (2) 75 30 405 345 750 100 650 250 400 650 Sole $000 100 100 160 260 50 210 30 180 210 Mole $000 160 160 80 240 80 160 60 100 160 >>>> X 102 The issued share capital of the three companies has not been changed since incorporation and is as follows: volt profit Pole 500,000 ordinary shares, Sole 30,000 ordinary shares, and Mole 60,000 ordinary shares. The retained earnings of Sole and Mole, when the investments were acquired in 2019, were $70,000 and $30,000 respectively. (3) Pole held inventories of $50,000 and $80,000 at 30 September 2020 and 30 September 2021 respectively purchased from Sole. Sole invoiced these goods at a margin of 40% on selling price. (4) Non-controlling interest was measured as its proportionate share of the acquiree's identifiable net assets. 1:40 tio. Required: Prepare for Pole Ltd a consolidated balance sheet for the year ended 30 September 2021. (20 mark

Answer rating: 100% (QA)

Consolidated balance sheet As of 30 September 2021 Property plant and equi... View the full answer