ired 90% of the Equity Shares of Star. Star retained profits at the date of acquisition were $ 2, 640,000. Balance Sheet as at 31 March 20x9. Phar Star $000 $000 $000 $000 Non-Current Assets PPE 2,544 2,388 Intangible Software - 2,520 Investments-Equity in Star 5, 036 - Others 214 252
On April 1, 20x8 Phar acquired 90% of the Equity Shares of Star. Star retained profits at the date of acquisition were $ 2, 640,000.
|
Phar |
|
Star |
|
|
$000 |
$000 |
$000 |
$000 |
Non-Current Assets |
|
|
|
|
PPE |
2,544 |
|
2,388 |
|
Intangible Software |
- |
|
2,520 |
|
Investments-Equity in Star |
5, 036 |
|
- |
|
Others |
214 |
|
252 |
|
|
|
7,794 |
|
5,160 |
Current Assets |
|
|
|
|
Inventories |
863 |
|
672 |
|
Receivables |
629 |
|
394 |
|
Stars Current Account |
90 |
|
- |
|
Cash |
24 |
|
- |
|
|
|
1,606 |
|
1,066 |
|
|
9,400 |
|
6,226 |
Capital and Reserves |
|
|
|
|
Equity shares of $1 each |
|
2,400 |
|
1,800 |
Share Premium |
2,400 |
|
|
|
|
3,360 |
5,760 |
600 |
3,306 |
|
|
8,160 |
2,706 |
5,106 |
Non-Current Liabilities |
|
|
|
|
Government Grants |
|
276 |
|
240 |
Current Liabilities |
|
|
|
|
Trade Payables |
690 |
|
566 |
|
Phar current account |
- |
|
72 |
|
Income Tax Payable |
274 |
|
210 |
|
Operating Overdraft |
- |
|
32 |
|
|
|
964 |
|
880 |
|
|
9,400 |
|
6,226 |
The following information is relevant:
Required
Prepare the consolidated Balance Sheet of Phar as at March 31, 20x9.
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Solved in 2 steps