Consolidated Financial statements Questions Answers: Example 09
Channel: CLEARCAEXAMS
Date: 2020-05-02

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Question Dictionary: Question 09 Consolidated Financial statement (CFS) CA Final New Syllabus 2020 
A Ltd. acquired 70% of equity shares of B Ltd. on 1.04.20X1 at cost of 10,00,000 when B Ltd. had an equity share capital of 10,00,000 and other equity of 80,000. In the four consecutive years B Ltd. fared badly and suffered losses of 2,50,000,  4,00,000, 5,00,000 and 1,20,000 respectively. Thereafter in 20X5-20X6, B Ltd. experienced turnaround and registered an annual profit of 50,000. In the next two years i.e. 20X6-20X7 and 20X7-20X8, B Ltd. recorded annual profits of Rs 1,00,000 and 1,50,000 respectively. 
Show the non- controlling Interests and cost of control at the end of each year for the purpose of consolidation.
Assume that the assets are at fair value.
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