The following balance sheets of Parents Forever Ltd, Sonny 1 Ltd and Sonny 2 Ltd were drawn
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The following balance sheets of Parents Forever Ltd, Sonny 1 Ltd and Sonny 2 Ltd were drawn up as soon as Parents Forever Ltd had acquired the shares in both subsidiaries. You are to draw up a consolidated balance sheet.
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Parents Forever Balance Sheet Investments in subsidiaries: Sonny 1 Ltd 28,000 Ordinary £1 shares Sonny 2 Ltd 30,000 Ordinary £1 shares Fixed assets Current assets Share capital - Ordinary £1 shares Profit and loss account General reserve £ 70,000 50,000 91,000 27,000 238,000 160,000 58,000 20,000 238,000
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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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