Solution-Prepare a consolidated statement of financial

Prepare a consolidated statement of financial position

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Reference no: EM13981444

Bleu plc acquired 80% of the common shares of Verte plc on 1 January 20X0 and gained control. At that date the statements of financial position of the two companies were as follows:

	Bleu £m	Verte £m
ASSETS
Non-current assets
Property, plant and equipment	150	120
Investment in Verte	210
Current assets	108	105
Total assets	468	225

	Bleu £m	Verte £m
EQUITY AND LIABILITIES
Capital and reserves
Share capital	300	120
Retained earnings	78	60
	378	180
Current liabilities	90	45
Total equity and liabilities	468	225

Note: The fair values are the same as the book values.

Required: Prepare a consolidated statement of financial position for Bleu plc as at 1 January 20X0.

Non-controlling interests are measured using method 1.

Reference no: EM13981444

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Prepare a consolidated statement of financial position

Reference no: EM13981444

Reference no: EM13981444

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