set out below is the summarised statement of financial position of berlin plc at 1 j 535036
Set out below is the summarised statement of financial position of Berlin plc at 1 January 20X0.
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set out below is the summarised statement of financial position of berlin plc at 1 j 535036
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|
£000 |
|
|
ASSETS |
|
|
Non-cur rent assets |
250 |
|
Property, plant and equipment |
150 |
|
Current assets |
400 |
|
Total assets |
|
EQUITY AND LIABILITIES |
|
|
Capital and reser ves |
|
|
Share capital (£5 shares) |
200 |
|
Retained ear nings |
80 |
|
280 |
|
Current liabilities |
120 |
|
Total equity and liabilities |
400 |
On 1/1/20X0 Berlin acquired 100% of the shares of Hanover for £100,000 and gained control.
Required: Prepare the statement of financial position of Berlin immediately after the acquisition if:
(a) Berlin acquired the shares for cash.
(b) Berlin issued 10,000 common shares of £5 (market value £10.).
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