- 12 Marks
FR – L2 – Q91 – Consolidated Financial Statements
Prepare Falcon Ltd's consolidated profit or loss, financial position, and retained profit movement for 20X4.
Question
FALCON LTD
Statement of changes in equity for the year ended 30 June 20X4 (extract)
| Falcon Ltd GH¢000 | Crane Ltd GH¢000 | |
|---|---|---|
| Retained earnings brought forward | 8,000 | 10,500 |
| Profit for the financial year | 12,000 | 8,000 |
| Retained earnings carried forward | 20,000 | 18,500 |
Required
Prepare Falcon Ltd’s consolidated statement of profit or loss, consolidated statement of financial position and a working showing the movement on consolidated retained profit for Falcon Ltd for the year ended 30 June 20X4.
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