White Bright Limited has three subsidiary Companies as on 31st March, 2018. Based upon the information given in the following, ascertain how the Cost of Investment will be treated in the Consolidated Balance Sheet. ParticularsAmount in MillionsHazy LimitedClear LimitedSun LimitedInvestment made205.00117.00145.00Percent of Shares Owned60%65%75%Assets at the time of Investment625.40314.84443.75Liabilities at the time of Investment260.44134.84329.55 don't give hand written answers plz

As per IFRS 10, Consolidated financial statements, when the company is owning controlling interest…

Answered: White Bright Limited has three…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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White Bright Limited has three subsidiary Companies as on 31st March, 2018. Based upon the information given in the following, ascertain how the Cost of Investment will be treated in the Consolidated Balance Sheet.

Particulars	Amount in Millions
Hazy Limited	Clear Limited	Sun Limited
Investment made	205.00	117.00	145.00
Percent of Shares Owned	60%	65%	75%
Assets at the time of Investment	625.40	314.84	443.75
Liabilities at the time of Investment	260.44	134.84	329.55

don't give hand written answers plz

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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