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QUESTION 1[CONSOLIDATED FINANCIAL STATEMENTS][IFRS10] On 1 Jan 2018, P Ltd acquired all the...

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Accounting

QUESTION 1[CONSOLIDATED FINANCIAL STATEMENTS][IFRS10]
On 1 Jan 2018, P Ltd acquired all the shares in S Ltd at R52000. At that date, the balance on S Ltd's retained earnings account amounted to R12000. The share capital amounted to R40000 and no shares have been issued since that date.
The following are the condensed statements of financial position of P Ltd and subsidiary S Ltd at 31 December 2018:
\table[[STATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBER 2018],[\table[[ASSETS],[Property, plant and equipment],[Investment in S Ltd: 4000 shares at fair value],[(cost price: R56000)],[Trade receivables]],P Ltd,S Ltd],[\table[[41000],[60000],[29000]],\table[[\table[[35000],[52000]]]]],[],[],[],[Total assets,R130000,R87000
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