please answer it asap i will definitely upvote The summarized statement of Financial Position of KISUMU Limited and KAKAMEGA LTD at June 2014are as followsKISUMU LTDKSH540,000675,000288,000243,0009,0001,755,000KAKAMEGA LTDKSHFixed assets book valueInvestment in KAKAMEGACurrent assets: StocksDebtorsBank414,000117,000153,00018,000702,000FINANCINGShare capital (Ksh 1 0/shares)Retained profits900,000630,0001,530,000225,0001,755,000450,000108,000558,000144,000702,000LiabilitiesKISUMU limited purchased the entire share capital of KAKAMEGA limited on June 30th 2014.The fixed assets of KAKAMEGA limited are considered to possess a fair value of Ksh 486,000, debtorsKsh 162,000, Stocks 108,000 with no material differences expected on the remaining assets.YOU ARE REQUIRED TOCalculate the goodwill arising on consolidation usingi. Assets methodii. Equity methodPrepare the consoiidated statement of financial position of KISUMU limited and her subsidiary at June30th 2014 accordingly'Ignore depreciation

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The summarized statement of Financial Position of KISUMU Limited and KAKAMEGA LTD at June 2014 are as follows KISUMU LTD KSH 540,000 675,000 288,000 243,000 9,000 1,755,000 KAKAMEGA LTD KSH Fixed assets book value Investment in KAKAMEGA Current assets: Stocks Debtors Bank 414,000 117,000 153,000 18,000 702,000 FINANCING Share capital (Ksh 1 O/shares) Retained profits 900,000 630,000 1,530,000 225,000 1,755,000 450,000 108,000 558,000 144,000 702,000 Liabilities 30th KISUMU limited purchased the entire share capital of KAKAMEGA limited on June The fixed assets of KAKAMEGA limited are considered to possess a fair value of Ksh 486,000, debtors Ksh 162,000, Stocks 108,000 with no material differences expected on the remaining assets. YOU ARE REQUIRED TO Calculate the goodwill arising on consolidation using i. Assets method' ii. Equity method Prepare the consoiidated statement of financial position of KISUMU limited and her subsidiary at June 30th 2014 accordingly Ignore depreciation 2014.

The summarized statement of Financial Position of KISUMU Limited and KAKAMEGA LTD at June 2014 are as follows KISUMU LTD KSH 540,000 675,000 288,000 243,000 9,000 1,755,000 KAKAMEGA LTD KSH Fixed assets book value Investment in KAKAMEGA Current assets: Stocks Debtors Bank 414,000 117,000 153,000 18,000 702,000 FINANCING Share capital (Ksh 1 O/shares) Retained profits 900,000 630,000 1,530,000 225,000 1,755,000 450,000 108,000 558,000 144,000 702,000 Liabilities 30th KISUMU limited purchased the entire share capital of KAKAMEGA limited on June The fixed assets of KAKAMEGA limited are considered to possess a fair value of Ksh 486,000, debtors Ksh 162,000, Stocks 108,000 with no material differences expected on the remaining assets. YOU ARE REQUIRED TO Calculate the goodwill arising on consolidation using i. Assets method' ii. Equity method Prepare the consoiidated statement of financial position of KISUMU limited and her subsidiary at June 30th 2014 accordingly Ignore depreciation 2014.

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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