Immediately after Pa, Ma and Co Ltd had achieved control of Sub 1 Ltd and Sub 2
Question:
Immediately after Pa, Ma and Co Ltd had achieved control of Sub 1 Ltd and Sub 2 Ltd the following balance sheets are drawn up. You are to draw up the consolidated balance sheet.
Transcribed Image Text:
Pa, Ma and Co Balance Sheet Investments in subsidiaries: Sub 1 Ltd 16,000 £1 Ordinary shares Sub 2 Ltd 24,000 £1 Ordinary shares Fixed assets Current assets Share capital - Ordinary £1 shares Profit and loss account General reserve f 30,000 38,000 81,000 27,000 176,000 100,000 56,000 20,000 176,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (5 reviews)
To prepare the consolidated balance sheet for Pa Ma and Co Ltd immediately after acquiring control o...View the full answer
Answered By
Mahesh G
I have more than 7 years of experience in teaching physics, mathematics and python programming to more than 600 students including both online and offline tutoring.
I follow the following 7 step fundamental approach towards tutoring.
1. Curiosity, scope, enlightenment of the topic in hand.
2. Problem Definitions and elaboration.
3. Requisite mathematics, analytical abilities and quantitative
aptitude.
4. Preparing Algorithms for problem statement.
5. Concepts with analogies and building algorithm.
6. Introspection and improvising.
7. Daily class wise Cheat sheets(its not cheating) for consolidation.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Frank Woods Business Accounting Volume 2
ISBN: 9780273693109
10th Edition
Authors: Frank Wood, Alan Sangster
Question Posted:
Students also viewed these Business questions
-
Immediately after Parent Acquisitions Ltd had acquired control of Sibling One Ltd and Sibling Two Ltd the following balance sheets were drawn up. You are to draw up a consolidated balance sheet....
-
Immediately after Pai and Family Ltd had acquired control of Son One Ltd and Son Two Ltd the following balance sheets were drawn up. You are to draw up a consolidated balance sheet. Pai and Family...
-
Prepare a consolidated balance sheet from the following balance sheets of Pa Ltd and Sonny Ltd which were drawn up immediately after Pa Ltd had acquired the share capital of Sonny Ltd. Pa Balance...
-
Question 1 Not yet answered Paints out of 1.00 P Flag question Question 2 Not yet answered Paints out of 1.00 P Flag question A project has the following activities, with specified precedents and...
-
The following are three decisions that Joel Stager needs to make. Joel manages an up-market restaurant in Miami, Florida, and has considerable discretion over its operations. Decision 1: Whether to...
-
A major shareholder of Systems Unlimited Inc., Phil Paradis, is perplexed. The 2014 income statement showed a healthy net income of $280 thousand. Yet, when Sharron Lewis, the bank manager and a...
-
Consider the Hald cement data in Table B.21. a. From the matrix of correlations between the regressors, would you suspect that multicollinearity is present? b. Calculate the variance inflation...
-
The net income (after income tax) of McCants Inc. was $2 per common share in the latest year and $6 per common share for the preceding year. At the beginning of the latest year, the number of shares...
-
Leveraged Investing with Eligible Dividends $50,000 Cash purchase + $50,000 borrowed funds at 4.95% 12 month holding period Eligible monthly dividend of $0.07/share Purchase price of $25.00 Sale...
-
SEC regulation, tax and working papers. Marshall and Wyatt, CPA, have been for several years the independent auditors of Interstate LDC Land Development Corporation of New Orleans, Louisiana. During...
-
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...
-
After Pop and Mum Ltd acquired 75 per cent of the shares of Sons and Cousins Ltd the following balance sheets are drawn up. You are to draw up the consolidated balance sheet. Pop and Mum Balance...
-
True or false: When a BGP router receives an advertised path from its neigh bor, it must add its own identity to the received path and then send that new path on to all of its neighbors. Explain.
-
Cheyenne Corporation earned $2,755,000 during 2025. The company had a weighted-average of 554,000 shares of common stock outstanding. The average market price of common stock was $34 per share during...
-
Murray Company reports net income of $855,500 for the year. It has no preferred stock, and its weighted-average common shares outstanding is 290,000 shares. Compute its basic earnings per share....
-
Data for Hermann Corporation are shown below: Selling price Variable expenses Contribution margin Percent Per Unit of Sales $ 65 39 100% 60 $ 26 40% Fixed expenses are $73,000 per month and the...
-
Klumper Corporation is a diversified manufacturer of industrial goods. The company's activity-based costing system contains the following six activity cost pools and activity rates: Activity Cost...
-
Physicians' Hospital has the following balances on December 31, 2024, before any adjustment: Accounts Receivable = $58,000; Allowance for Uncollectible Accounts = $1,200 (credit). On December 31,...
-
Per GASB Statement No. 14, what is the key criterion as to whether a government should be included as a component unit in the reporting entity of another government?
-
What are some of the features of the Unified Process (UP)?
-
Oldfield Enterprises Limited was formed on 1 January 2018 to manufacture and sell a new type of lawn mower. The bookkeeping staff of the company have produced monthly figures for the first 10 months...
-
The directors are preparing the published accounts of Dorman plc for the year to 31 October 2018. The following information is provided for certain of the items which are to be included in the final...
-
(a) When would it be appropriate for an entity to adopt a financial concept of capital? (b) When would it be appropriate for an entity to adopt a physical concept of capital?
-
MY NOTES ASK YOUR TEACHER 2 A force F of magnitude 5.20 units acts on an object at the origin in a direction - 52.0 above the positive x-axis. (See the figure below.) A second force F of magnitude...
-
Two points are given in polar coordinates by (r, 0) = (2.40 m, 50.0) and (r, 0) = (4.00 m, -30.0), respectively. What is the distance between them?
-
A block starts from the top of a fixed 10-meter tall friction-less ramp at rest. The ramp makes an angle of 0 with the horizontal The block starts sliding down the ramp when it is released. a) Using...
Study smarter with the SolutionInn App