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3:59 2 of 6 QUESTION I Accra Ltd, a public limited liability company in Ghana, operates in the manufacturing sector. Accra Ltd has investments in two other Ghanaian companies. The draft statement of financial position as at 31 March 2018 are as follows: Assets: Non Current Asset Property, Plants and Equipment Investment in Subsidiaries Bawku Ltd Takoradi Ltd Financial Assets Current Assets Total Asset Equity and Liability Stated Capital Retained Eamings Other component of Equity Total Equity Non-current Liabilities Current Liabilities Total Liabilities Total Equity and Liabilities Additional information: i) ii) Accra GHe'million 720.00 625.00 155.00 160.00 1660,00 447.50 2107.50 875.00 620.00 62.50 1557.50 492.50 57.50 550.00 2107.50 1 Bawku GHe'million 550.00 635.00 10.50 1195.50 340.50 1536.00 605.00 465.00 40.00 1110.00 382.50 ...I LTE 43.50 426.00 1536.00 Takoradi GHe'million 650.00 70.50 720.50 75.00 795.50 400.00 175.00 47.50 75.00 98.00 173.00 795.50 On 1 April 2016, Accra Ltd acquired 14% of the equity interest of Takoradi Ltd for a cash consideration of GHe 130 million and Bawku Ltd acquired 70% of the equity interest of Takoradi Ltd for a cash consideration of GH635 million. At 1 April 2016, the identifiable net assets of Takoradi Ltd had a fair value of GH495 million, retained earnings were GH 95 million and other components of equity were GHe26 million. At 1 April 2017, the identifiable net assets of Takoradi Ltd had a fair value of GHe575 million, retained earnings were GH120 million and other components of equity were GH₂35 million. The excess in fair value is due to non-depreciable land. The fair value of the 14% holding of Accra Ltd in Takoradi Ltd, which was classified as fair value through profit or loss, was GHe140 million at 31 March 2017 and GH 155 million at 31 March 2018. However, the fair value of Bawku Ltd's interest in Takoradi Ltd had not changed since acquisition. On 1 April 2017, Acera Ltd acquired 60% of the equity interests of Bawku Ltd, a public limited liability company in Ghana. The cost of investment comprised cash of GH¢625 million. On 1 April 2017, the fair value of the identifiable net assets acquired was GH$975 million and retained earnings of Bawku Lid were GHg325 million and other component of equity were GH27.5 million. The excess in fair value is due to non depreciable land. It is join.upsavirtual.site - Private