The statements of Financial Position of two companies are as follows for 31st December Year 1 Trinidad
Question:
The statements of Financial Position of two companies are as follows for 31st December Year 1
Trinidad | Tobago | |
$m | $m | |
Investment in Tobago | 800 | |
Assets | 1,000 | 900 |
1,800 | 900 | |
Ordinary Shares ($1) | 400 | 300 (300/1= 300 million shares) |
Accumulated Profits | 500 | 400 |
Equity | 900 | 700 |
Liabilities | 900 | 200 |
1,800 | 900 |
Additional Information:
Trinidad has today, 31st December Year 1 acquired 225 m shares of Tobago’s shares
Required:
Prepare the Consolidated Statement of Financial Position for the Trinidad group.
Question 2 :
The Statements of Financial Position of the two companies are as follows for 31st December Year 1
Croatio | Zagreb | |
$m | $m | |
Non-Current Assets | ||
Tangible | 1,000 | 800 |
Investment in Zagreb | 600 | |
Current Assets | 400 | 200 |
2,000 | 1,000 | |
Ordinary Shares ($1) | 800 | 100 |
Accumulated Profits | 750 | 400 |
Equity | 1,550 | 500 |
Non-Current Liabilities | 250 | 300 |
Current Liabilities | 200 | 200 |
2,000 | 1,000 |
Additional Information:
Croatia acquired 60m shares in Zagreb one year ago, 1/1/Year 1, when the reserves of Zagreb were $60M.
Required:
Prepare the Consolidated Statement of Financial Position for the Croatia group for year 2.
International Financial Reporting A Practical Guide
ISBN: 978-1292200743
6th edition
Authors: Alan Melville