Question No. (10) The draft balance sheets of three companies as at 30 September 2005 are...

 

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Question No. (10) The draft balance sheets of three companies as at 30 September 2005 are as follows. Paul Lad Tk Simonlad Tk Arthurl.id Tk 697,210 648,010 349,400 562,000 184.000 1.443,210 Non-current assets Property, plant and equipment Investments 160,000 shares in Simon Ltd 80,000 shares in Arthur Ltd Current assets Inventories Trade receivables Cash Total assets Capital and reserves Ordinary share capital Retained earnings Total Equity Non-current liabilities Current liabilities Trade payables Total equity and liabilities 495.165 415,717 101.274 2.455.366 600,000 1015.000 1.615,000 400,000 440.366 1455 366 648,010 388.619 320,540 95.010 1.432.179 Page 4 of 5 200,000 820.000 1,020,000 150,000 287.179 1452.179 349,400 286,925 251.065 90.331 947.721 200,000 463.000 663,000 100,000 204.721 967/721 Additional information. • Paul Lad purchased the shares in Simon Lad on 1 October 2000 when the retained earnings of Simon Lid were Tk 500,000. The shares in Arthur Lid were acquired on 1 October 2002 when the retained earnings were Tk 242,000. • Included in the inventory figure for Paul Ltd is inventory valued at Tk 20.000 which had been purchased from Simon Ltd at cost plus 25%. • Included in the trade payables figure of Paul Ltd is Tk 18,000 payable to Arthur Lid, the amount receivable being recorded in the trade receivables figure of Arthur Ltd. • Impairment reviews to date have revealed a total of Tk 1,000 to be written off goodwill in respect of Simon Lnd and TL 2,000 off in respect of Paul Lad's investment in Arthur Lad Requirement: Prepare the consolidated balance sheet for Paul Ltd as at 30 September 2005. Question No. (10) The draft balance sheets of three companies as at 30 September 2005 are as follows. Paul Lad Tk Simonlad Tk Arthurl.id Tk 697,210 648,010 349,400 562,000 184.000 1.443,210 Non-current assets Property, plant and equipment Investments 160,000 shares in Simon Ltd 80,000 shares in Arthur Ltd Current assets Inventories Trade receivables Cash Total assets Capital and reserves Ordinary share capital Retained earnings Total Equity Non-current liabilities Current liabilities Trade payables Total equity and liabilities 495.165 415,717 101.274 2.455.366 600,000 1015.000 1.615,000 400,000 440.366 1455 366 648,010 388.619 320,540 95.010 1.432.179 Page 4 of 5 200,000 820.000 1,020,000 150,000 287.179 1452.179 349,400 286,925 251.065 90.331 947.721 200,000 463.000 663,000 100,000 204.721 967/721 Additional information. • Paul Lad purchased the shares in Simon Lad on 1 October 2000 when the retained earnings of Simon Lid were Tk 500,000. The shares in Arthur Lid were acquired on 1 October 2002 when the retained earnings were Tk 242,000. • Included in the inventory figure for Paul Ltd is inventory valued at Tk 20.000 which had been purchased from Simon Ltd at cost plus 25%. • Included in the trade payables figure of Paul Ltd is Tk 18,000 payable to Arthur Lid, the amount receivable being recorded in the trade receivables figure of Arthur Ltd. • Impairment reviews to date have revealed a total of Tk 1,000 to be written off goodwill in respect of Simon Lnd and TL 2,000 off in respect of Paul Lad's investment in Arthur Lad Requirement: Prepare the consolidated balance sheet for Paul Ltd as at 30 September 2005.

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Prepare Consolidated balance sheet for Paul Itel as al ... View the full answer