ACC705 Corporate Accounting and Reporting - Consolidated Financial Statement - Assignment Help

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Part (a)

Consolidated statement of Financial Position of Erik ltd on 1st July, 2017
			Combine	eliminate	Consolidated
	Erik ltd	Finn ltd
Equity
Share capital Erik ltd	130000		130000		130000
Share capital Finn ltd		90000	90000	90000	0
general reserve	56500	12000	68500		68500
Retained earnings	93500	36000	129500		129500
			0		0
total equity	280000	138000	418000		328000

Liabilities
dividend payable	25000	12600	37600		37600
other liabilities	75000	25000	100000		100000
Contingent liability	0	3000	3000		3000
Total liabilities	100000	40600	140600		140600
Total Equity and liabilities	380000	178600	558600		468600

current assets
cash	11000	20600	31600		31600
Receivables	25200	20000	45200		45200
other assets	10000	8000	18000		18000
Shares in Finn ltd	153800	0	153800	153800	0
Inventories	55000	45000	100000		100000
plant and equipment	210000	107000	317000		317000
Accumulated depreciation	-85000	-22000	-107000		-107000
Goodwill				-63800	63800
Total Assets	380000	178600	558600		468600

Goodwill calculation
Consideration transferred	153800
Share capital of Finn Ltd at acquisition	90000
Goodwill calculation	63800

contingent liability	3000

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