From the following balance sheets and supplementary information you are to draw up a consolidated balance sheet
Question:
From the following balance sheets and supplementary information you are to draw up a consolidated balance sheet as at 31 March 20X4.
During the year Pop and Mom Ltd sold a fixed asset to Son Ltd. It had cost Pop and Mom Ltd £2,000 and it was sold to Son Ltd for £3,000. Son Ltd had written off £600 as depreciation during 20X4.
Transcribed Image Text:
Pop and Mom Ltd Consolidated Balance Sheet as at 31 March 20X4 Investment in Son Ltd: 30,000 shares bought 31.3.20X3 Fixed assets Less Depreciation Current assets Share capital Profit and loss: As at 31.3.20X3 Add Profit for 20X4 £ 174,000 (29,000) 28,000 37,000 £ 74,000 145,000 56,000 275,000 210,000 65,000 275,000
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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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