Business, 08.12.2020 14:00 didraga777

406 The following are the Statement of Financial Positions of lyanda, Uthman and
Akinade respectively:
Iyanda
Uthman
Akinade
Assets
N 000
N000
N 000
Tangible
972
843
Investment in subsidiary:
Uthman (700,000 shares)
356
Akinade (300,000 shares)
Net current assets
477
1781
Financed by:
Ordinary share capital of Al each
Reserves
Retained earnings
Others
248
205
1320
164
570
1200
1000
400
333
200
100
248
120
70
1781
Additional information:
1320
570
i Iyanda acquired Uthman and Akinade when their Retained earnings were
N100,000 and N60,000 respectively.
ii.
The other reserves of the two companies stood at 150,000 and N40,000
respectively
Prepare a consolidated Statement of Financial Position for lyanda group.

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406 The following are the Statement of Financial Positions of lyanda, Uthman and
Akinade resp...

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