Immediately after Parent Acquisitions Ltd had acquired control of Sibling One Ltd and Sibling Two Ltd the
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Immediately after Parent Acquisition’s Ltd had acquired control of Sibling One Ltd and Sibling Two Ltd the following balance sheets were drawn up. You are to draw up a consolidated balance sheet.
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Parent Acquisition's Balance Sheet Investment in subsidiaries: Sibling One Ltd (30,000 Ordinary £1 shares) Sibling Two Ltd (20,000 Ordinary £1 shares) Fixed assets Current assets Share capital - Ordinary £1 shares Profit and loss account General reserve E 68,000 27,500 164,400 40,100 300,000 200,000 80,000 20,000 300,000
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Account Parent Acquisitions Ltd Sibling One Ltd Sibling Two Ltd Consolidated Fixed assets ...View the full answer
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Related Book For
Frank Woods Business Accounting Volume 2
ISBN: 9780273693109
10th Edition
Authors: Frank Wood, Alan Sangster
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