whatis the goodwill figure at the date of aquacition ?

Asset plc and Liability Limited prepare their financial statements to 31 December each year. Extracts from their 2018 financial statements are shown below:

Statements of Financial Position as at 31 December 2018

Asset plc Liability Limited
£’000 £’000
Non-current assets
Property, plant and equipment 17,160 7,640
Investment in Liability Limited _7,120
24,280 7,640
Current assets
Inventories 2,800 1,220
Trade receivables 1,960 1,400
Cash __420 180
Total Assets 29,460 10,440
Equity and Liabilities
Share capital – £1 ordinary shares 12,000 5,000
Share premium 2,000 600
Retained earnings 12,880 1,840
26,880 7,440
Non-current Liabilities
5% debentures 2,000
Current Liabilities
Trade payables 2,580 1,000
Total Equity and Liabilities 29,460 10,440

Additional Information:

1. Asset plc purchased 70% of Liability Limited on 1 January 2018 when the balance on Liability Limited’s retained earnings was £1,560,000.

2. Included in trade receivables of Asset plc are amounts owed by Liability Limited of £100,000. Liability Limited’s payables include £100,000 due toAsset plc.

3. At the date of acquisition, the fair value of Liability Limited’s property was £400,000 higher than the book value.

4. At the 31 December 2018, the inventory of Liability Limited includes goods it has purchased from Asset plc for £300,000. Asset plc sets its prices at cost plus 25%. One half of these goods are still in inventory at 31 December 2018.

5. Goodwill arising on the acquisition of Liability Limited has not been impaired.

6. It is the group policy to value non-controlling interest using the proportionate share of net assets method.


Prepare the consolidated statement of financial position of Asset plc for the year ended 31 December 2018.

1.whatis the goodwill figure at the date of aquacition ?

2. ppe figure on 31december 2018?

3.what amount of unrealised profit in inventoryto be eliminated on 31 december 2018?

4.equity capital total om 31 december 2018?

5.post aquasition earningof liabilityon31/12/18?

6.non controlling interest at the date of aquisition ?

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