Big plc owns 75% of the ordinary share capital of its subsidiary Small plc. An extract from the separate statements of financial position of the two entities at 31 December 20X1 is given below: The following information is also available: Big plc purchased its investment in Small plc on 22 April 20X0. The goodwill measured at acquisition date was £90,000 and no impairment has been taken since that date. On 11 November 20X1, Big plc sold goods to Small plc for a price of £9,000 (payable by 20 February 20X2). The goods had been included in Big plc’s inventory at a cost of £5,000. On 31 December 20X1, Small plc held 50% of these goods in its inventory. Small plc paid for the goods on 30 January 20X2. Compute the total assets reported in Big plc’s consolidated statement of financial position at 31 December 20X1.

Crowdly

Додати до Chrome

✅ Перевірена відповідь на це питання доступна нижче. Наші рішення, перевірені спільнотою, допомагають краще зрозуміти матеріал.

Big plc owns 75% of the ordinary share capital of its subsidiary Small plc.

An extract from the separate statements of financial position of the two entities at 31 December 20X1 is given below:

Extract from statements of financial position at 31 December 20X1
Amounts in £	Big plc	Small plc
Cash	100,000	20,000
Accounts receivable	50,000	10,000
Inventories	150,000	30,000
Shares in Small plc (at cost)	180,000	-
Property, Plant and Equipment	800,000	100,000
Total Assets	1,280,000	160,000

The following information is also available:

Big
plc purchased its investment in Small plc on 22 April 20X0. The goodwill
measured at acquisition date was £90,000 and no impairment has been taken since
that date.
On 11 November
20X1, Big plc sold goods to Small plc for a price of £9,000 (payable by 20
February 20X2). The goods had been included in Big plc’s inventory at a cost of
£5,000. On 31 December 20X1, Small plc held 50% of these goods in its inventory.
Small plc paid for the goods on 30 January 20X2.

Compute the total assets

reported in Big plc’s

consolidated statement of financial position at 31 December 20X1.

Отримайте необмежений доступ до відповідей на екзаменаційні питання - встановіть розширення Crowdly зараз!

Додати до Chrome