question:
A' co acquire new incorporate co B's with 9,000(i,e 90%). During the year have loss 500.
Kindly have statement of position and statement of comprehensive income and equity.
A'Co
Cash and Bank balance- 1,000
Share capital-10,000
Investment in B- 9,000
B'co
Cash and bank balances- 10,000
Share capital- 10,000
Expenses
Formation fees 500