Given below are the statements of financial position of Kale Ltd and Mpya Ltd as at...

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Given below are the statements of financial position of Kale Ltd and Mpya Ltd as at 31st December, 2007 Assets Non Current Assets Property, Plant and Equipment 40,000 shares in Mpya Ltd Amounts in '000' Kale Ltd Current Assets Inventories Accounts receivables Bank Balance Total Assets Equity and Liabilities Equity Ordinary share capital @Shs 675 Revaluation Retained earnings Liabilities Non current liabilities Current liabilities 81,000 45,000 126,000 4,050 21,600 2,700 28,350 154,350 60,750 16,200 35,100 112,050 14,850 27,450 42,300 Mpya Ltd 54,000 10.800 22,950 25,000 54,000 16,000 15,200 58,750 112,750 33,750 10,000 37,800 81,550 31,200 154,350 112,750 Kale Ltd purchased shares in Mpya Ltd on 1st January, 2004 when the retained profit and revaluation surplus in Mpya Ltd were Shs 10,000,000 and Shs 17,800,000 respectively. On 20th December, 2007 Mpya sent goods costing Shs 2,700,000 to Kale Ltd and by 31st December 2007 these goods had not been receive by the company. The management of the group believe that goodwill has been impaired by 10%. It is the group policy to measure non controlling interest at market value. The market value of the shares in Mpya Ltd immediately before Kale Ltd made investment in company was Shs 1,350 per share Required Prepare the consolidated statement of financial position of Kale Ltd as at 31 December 2007 Given below are the statements of financial position of Kale Ltd and Mpya Ltd as at 31st December, 2007 Assets Non Current Assets Property, Plant and Equipment 40,000 shares in Mpya Ltd Amounts in '000' Kale Ltd Current Assets Inventories Accounts receivables Bank Balance Total Assets Equity and Liabilities Equity Ordinary share capital @Shs 675 Revaluation Retained earnings Liabilities Non current liabilities Current liabilities 81,000 45,000 126,000 4,050 21,600 2,700 28,350 154,350 60,750 16,200 35,100 112,050 14,850 27,450 42,300 Mpya Ltd 54,000 10.800 22,950 25,000 54,000 16,000 15,200 58,750 112,750 33,750 10,000 37,800 81,550 31,200 154,350 112,750 Kale Ltd purchased shares in Mpya Ltd on 1st January, 2004 when the retained profit and revaluation surplus in Mpya Ltd were Shs 10,000,000 and Shs 17,800,000 respectively. On 20th December, 2007 Mpya sent goods costing Shs 2,700,000 to Kale Ltd and by 31st December 2007 these goods had not been receive by the company. The management of the group believe that goodwill has been impaired by 10%. It is the group policy to measure non controlling interest at market value. The market value of the shares in Mpya Ltd immediately before Kale Ltd made investment in company was Shs 1,350 per share Required Prepare the consolidated statement of financial position of Kale Ltd as at 31 December 2007

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Consolidated Statement of Financial Position of Kale Ltd As at December 31 2007 Assets NonCurrent As... View the full answer