Papai Ltd bought 51 per cent of the shares in Sons and Co Ltd on 31 October

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Papai Ltd bought 51 per cent of the shares in Sons and Co Ltd on 31 October 20X7. From the following balance sheets you are to draw up the consolidated balance sheet as at 31 October 20X8.

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Frank Woods Business Accounting Volume 2

ISBN: 9780273693109

10th Edition

Authors: Frank Wood, Alan Sangster

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Question Posted: Sep 08, 2023 09:18 AM

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Papai Ltd bought 51 per cent of the shares in Sons and Co Ltd on 31 October

Question:

Papai Balance Sheet as at 31 October 20X8 Investment in Sons and Co Ltd: 40,800 shares Fixed assets Current assets Share capital Profit and loss account: As at 31.10.20X7 Add Profit for 20X8 3 19,000 26,000 £ 60,000 74,000 36,000 170,000 125,000 45,000 170,000

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Consolidated Balance Sheet as at 31 October 20X8 Amount in Assets Fix...View the full answer

Frank Woods Business Accounting Volume 2

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