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Question 5

The following are the statements of financial position of Peach Ltd, Silver Ltd, Amber Ltd and Green Ltd as at 30 June 2013: Additional information: (i) Peach Ltd acquired 70% of the ordinary shares of Silver Ltd on 1 July 2010 when Silver's reserves were: share premium $800,000; retained earnings $2,500,000. (ii) Peach Ltd acquired 30% of the ordinary shares of Amber Ltd on 1 July 2011 when Amber's reserves were: share premium $1,500,000; retained earnings $2,600,000. (iii) Peach Ltd acquired 50% of the ordinary shares of Green Ltd on 1 July 2012. Red Ltd and Peach Ltd jointly own and control the relevant activities of Green Ltd. Retained earnings of Green Ltd at 1 July 2012 were $970,000. (iv) During the year ended 30 June 2013, impairment occurred as follows: goodwill on acquisition of Silver $50,000; carrying value of investment in Amber $100,000. (v) At 1 July 2010 , the fair value of the non-controlling interests in Silver was $2,250,000. Required: Prepare the consolidated statement of financial position for the group as at 30 June 2013. The following are the statements of financial position of Peach Ltd, Silver Ltd, Amber Ltd and Green Ltd as at 30 June 2013: Additional information: (i) Peach Ltd acquired 70% of the ordinary shares of Silver Ltd on 1 July 2010 when Silver's reserves were: share premium $800,000; retained earnings $2,500,000. (ii) Peach Ltd acquired 30% of the ordinary shares of Amber Ltd on 1 July 2011 when Amber's reserves were: share premium $1,500,000; retained earnings $2,600,000. (iii) Peach Ltd acquired 50% of the ordinary shares of Green Ltd on 1 July 2012. Red Ltd and Peach Ltd jointly own and control the relevant activities of Green Ltd. Retained earnings of Green Ltd at 1 July 2012 were $970,000. (iv) During the year ended 30 June 2013, impairment occurred as follows: goodwill on acquisition of Silver $50,000; carrying value of investment in Amber $100,000. (v) At 1 July 2010 , the fair value of the non-controlling interests in Silver was $2,250,000. Required: Prepare the consolidated statement of financial position for the group as at 30 June 2013

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