Bill acquired 75% of Ben and 30% of Weed when Ben's reserves were £16,000, and those of Weed were £4,000. Fair value of Ben's net assets at the time of acquisition amounted to £35,000. All company accounts are shown below. Balance Sheets at 31-Dec-20 Non-current assets Investment in Ben Investment in Weed Other Net Assets Bill 26,000 Ben Weed 9,000 6,000 30,000 12,000 10,000 37,000 21,000 78,000 46,000 27,000 Issued Share Capital 40,000 16,000 10,000 Retained Earnings 30,000 26,000 14,000 Profit/Loss 8,000 4,000 3,000 78,000 46,000 27,000 Required: For Ye-Dec-20 prepare 1) Group Balance Sheet 2) Group Income Statement 3) Reconcile group and company net assets

On 1 January 20X9, JB Enterprises acquired 70 per cent of the shares of Good Company. The separate condensed statements of financial position of JB Enterprises and of Good Company immediately after the acquisition appeared as shown below: (all amounts in €)                                    JB   Good Company Assets Property, plant and equipment (net)   18.750.000     2.600.000 Investment in Good Company 3.600.000   - Inventories 1.000.000   740.000 Cash 13.550.000   560.000 Trade and other receivables      4.400.000         660.000      41.300.000      4.560.000 Equity and Liabilities Share capital   10.000.000     2.000.000 Reserves 16.200.000   1.600.000 Profit for the year 20X4 1.600.000   240.000 Provisions 100.000   250.000 Current liabilities     13.400.000         470.000      41.300.000      4.560.000 Additional information (at acquisition…

Redcliff Ltd acquired the entire share capital of ABC Ltd for $18,000 cash on 31 December 20X4.The balance sheets of the two companies as at that date were as follows:          Redcliff Ltd                                                                             ABC Ltd$ $ $Current assets 240,000                                                        28,800Non-current assets:Investment in ABC at cost 18,000Other asset 96,000 114,000 9,600Total assets 354,000 38,400Current liabilities 198,000 20,400Net assets 156,000 18,000Paid-up capital 120,000 12,000Retained profits 36,000 6,000Owners’ equity 156,000 18,000Required:Prepare the consolidated balance sheet of Redcliff Ltd and its subsidiary as it 31 december 20X4.

On January 1, 20x5, Paz acquired 80% of Shey outstanding ordinary shares for P950,000. Paz uses the cost method to record the investment account. The statement of financial position of Paz and Shey on December 31, 20x1 are as follows:   Paz Shey Cash 2,500,000 1,000,000 Accounts receivables 500,000 250,000 Inventory 800,000 200,000 Investment in Shey 950,000 - Land 2,000,000 - Building - net 1,200,000 - Equipment - net 600,000 500,000 Total 8,550,000 1,950,000 Current liabilities 750,000 500,000 Ordinary shares 3,000,000 650,000 Share premium 500,000 100,000 Retained earnings 4,300,000 700,000 Total 8,550,000 1,950,000   On January 1, 20x5, the assets and liabilities at book value of Shey approximates its fair value except for the inventory and equipment which is undervalued by P50,000 and P20,000, respectively. The equipment has a remaining useful life of 5 years. Paz measures the NCI at proportionate share basis.   On December 31, 20x5, Paz reported net income of P1,000,000 and paid…