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Prepare a consolidated statement of financial position

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Reference no: EM133158911

Question - The following information is relevant:

Revaluation: (i) The fair values of Skeptik's assets were equal to their book values with the exception of its Plant which had a fair value of $3.2 million in excess of its book value at the date of acquisition. The remaining life of Skeptik's Plant at the date of acquisition was four years and this period has not changed as a result of the acquisition. Skeptik has not adjusted the value of its plant as a result of the fair value exercise - Pre & Post Acquisition profit:

(ii) Revenue and profits should be deemed to accrue evenly throughout the year.

Required - Prepare a consolidated statement of financial position for Hilluision for the year to 31St March 2020.

Reference no: EM133158911

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