Solution-Prepare a consolidated statement of financial

Prepare a consolidated statement of financial position

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

Questions Cloud

Compute the total resistance of the circuit : Compute the Total Resistance of the circuit (in Ω) and enter it (rounded to the nearest Ω) in the space provided. Do not enter the word ohms - just the numeric value.

Expansionary fiscal policy and contractionary fiscal policy : Identify each of the following as expansionary fiscal policy, contractionary fiscal policy, not fiscal policy a. taxes are increased to reign in the economy b. the Federal Reserve increases the interest rate paid on reserves in attempt to reign in th..

The fair labor standards act : The Fair Labor Standards Act, enacted in 1938, requires that firms pay "double time", which is 200% of the regular wage rate, for overtime work. This question asks you to consider some of the incentive effects of overtime pay. When faced with the bud..

Draw a decision tree representing : What are Captain Rogers's fundamental objectives? What risks does he face? Draw a decision tree representing his decision.

Prepare a consolidated statement of financial position : Bleu plc acquired 80% of the common shares of Verte plc on 1 January 20X0 and gained control.

What was labor-force participation rate-unemployment rate : The Bureau of Labor Statistics announced that in October 1996, of all adult Americans, 127,587,000 were employed, 7,221,000 were unemployed, and 66,645,000 were not in the labor force. How big was the labor force? What was the labor-force participati..

What role will the department itself take : Do you believe that there should be a limitation on the violent video games children are permitted to play? What type of assistance will you ask from the community as a whole? What role will the department itself take

Describe five steps your organization could take : Do you think it is likely that this kind of change could happen in your organization? Why or why not?

Fundamental-objectives hierarchy : Think of any other situation where choices involve multiple objectives. Create a fundamental-objectives hierarchy and a means-objectives network.

User Account

All Pages

Prepare a consolidated statement of financial position

Reference no: EM13981444

Reference no: EM13981444

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

Why do companies estimate warranty expense

Net investment in the truck project

How much was manufacturing overhead overallocated

An investor purchased 500 shares of common stock 25 par

Werber clinic uses client visits as its measure of activity

Explaining complex methodology

Problem on dowell chemical corporation research

Determining report warranty expense

Presented below is information related to isaac corporation

Prepare an unadjusted trial balance listing the accounts

Balance sheets and using the additional information

Determine cost of long-term investment in bonds

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT