Parents Pleasure Ltd bought 60% of the shares of Triplet Enterprise Ltd on 31 March 2017. The statements of financial position of the two companies on 31 March 2018 are as follows. You are to draw up a consolidated statement of financial position as at 31 March 2018. The amounts shown in the statements of financial position are a correct reflection of the fair values.

Transcribed Image Text:

Parents Pleasure Statement of Financial Position as at 31 March 2018 Investment in Triplet Enterprise Ltd: 72,000 shares bought 31.3.2017 Non-current assets Current assets Share capital Retained profits: As at 31.3.2017 Add Profit for 2018 General reserve £ 52,000 57,000 £ 101,000 230,000 61,000 392,000 260,000 109,000 23,000 392,000