Parent plc Statement of Financial Position as at 31 March 2018 When Parent plc bought the shares
Question:
Parent plc Statement of Financial Position as at 31 March 2018
When Parent plc bought the shares of Subsidiary Ltd it valued the non-current assets at £132,000 instead of the figure of £121,000 as shown in the statement of financial position of Subsidiary Ltd. Draw up a consolidated statement of financial position as at 31 March 2018.
Transcribed Image Text:
Non-current assets Investment in Subsidiary: 100,000 shares bought on 31.3.2017 Other non-current assets Less Depreciation for year Current assets Share capital Retained profits: As at 31.3.2017 Add Profit for 2018 Non-current assets Less Depreciation for year Current assets 44 Share capital Retained profits: As at 31.3.2017 Add Profit for 2018 124,000 (25,000) Subsidiary Ltd Statement of Financial Position as at 31 March 2018 50,000 30,000 £ 121,000 (22,000) 26,000 22,000 £ 190,000 99,000 31,000 320,000 240,000 80,000 320,000 £ 99,000 49,000 148,000 100,000 48,000 148,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 83% (6 reviews)
To prepare a consolidated statement of financial position well need to make adjustments for the over...View the full answer
Answered By
Salome Wambui
EDUCATION
Bachelor of Science in Applied Statistics, University of Maseno
TUTORING EXPERIENCE
• Tutored college-level students in introductory and advanced topics in Statistics, including probability, hypothesis testing, regression, and ANOVA
• Assisted elementary, middle, and high school students with math and science courses, including Algebra, Geometry, and Calculus
• Led guided review sessions to prepare students for exams in Statistics, Math, and Science
• Mentored students on problem-solving, study skills, and time-management strategies to help them succeed in their classes
0.00
0 Reviews
10+ Question Solved
Related Book For
Frank Woods Business Accounting Volume 2
ISBN: 9781292085050
13th Edition
Authors: Frank Wood, Alan Sangster
Question Posted:
Students also viewed these Business questions
-
Parental Venture plc Statement of Financial Position as at 31 December 2018 When Parental Venture plc took control of Subsidiary Ltd it valued the non-current assets at 31.12.2017 at 100,000 instead...
-
The following statements of financial position were drawn up as at 31 March 2018. The person drafting the statement of financial position of Parent Ltd was not too sure of an item and has shown it as...
-
From the following statements of financial position prepare a consolidated statement of financial position for the group of Parenting Ltd, Sub A and Sub B. Parent plc Statement of Financial Position...
-
For Questions consider the S-N curve provided below for this same material and situation. Stress & (MPa) 400 300 B. 175 MPa C. 200 MPa 200 100 10 C. 350 MPa D. 400 MPa E. It will never fail P-0.99...
-
Canliss Mining uses the replacement method to determine depreciation on its office equipment. During 2009, its first year of operations, office equipment was purchased at a cost of $14,000. Useful...
-
Droog Co. is a retailer dealing in a single product. Beginning inventory at January 1 of this year is zero, operating expenses for this same year are $5,000, and there are 2,000 common shares...
-
What is a codebook and what is it used for?
-
A building contractor obtained bids for some asphalt paving, based on a specification. Three paving subcontractors quoted the following prices and ten of payment: The building contractor uses a 12%...
-
W Nov. 8 8 11 11 13 14 16 Natalie cashes her U.S. Savings Bonds and receives $630, which she deposits in her personal bank account. She opens a bank account under the name "Cookie Creations" and...
-
Based on the two tables and the attributes below, write SQL commands for each question to retrieve the data from the database. tblSales InvoiceNumber InvoiceDate CustomerNumber Sales OrderNumber...
-
From the following statements of financial position, you are to draft a consolidated statement of financial position for the group of Parent Ltd and its two subsidiaries, Sub 1 and Sub 2. Parent Ltd...
-
From the following statements of financial position and supplementary information you are to draw up a consolidated statement of financial position as at 31 March 2017. During the year Parent...
-
Brainstorm at least one of the following research questions, either on your own or with a colleague, and list the search terms that you have generated. a. How effective are share options as a...
-
Explain the purpose of the parole evidence rule and the exceptions to the parole evidence rule. 4. Describe the primary methods for discharging a contract. 5. Describe the primary legal and equitable...
-
The property taxing statutes of the state in which you live. After review of the property tax statutes of Texas, cite and explain those parts of the statute that believed to provide a definition of...
-
Critically discuss the ways that ethical standards need to be monitored, audited, and enforced. Address the need for continuous improvement in company/corporate ethical standards.
-
Paul, an associate and not a partner, worked as an accountant for a very large accounting firm, called Griffen and Griffen LLP for the last 10 years. When he signed his contract of employment with...
-
1- LEMAY HOMETOWN LUMBER COMPANY LIMITEDIn March of 2016, Roseanne Chang, vice president of the Eastern Ontario Region of the Dominion Bank of Canada, was reviewing the file of Lemay Ho . write 1...
-
In the stock valuation framework, how can you tell whether a particular security is a worthwhile investment candidate? What roles does the required rate of return play in this process? Would you...
-
Complete the following acid-base reactions: (a) HCCH + NaH
-
A manufacturer is producing five types of job, each in a separate production department P, Q, R, S and T. In addition, there are two service departments F and G. Costs have been allocated to the...
-
How do you think this is done?
-
For the factory in Question 37.1, what would be the costs of the following jobs given that the direct labour costs per hour are: Dept A 5; B 4; C 6; D 7? Data from Question 37.1 In a factory, four...
-
Let = {0, 1}. Consider the following languages over . (a) Write down all the strings in L2 == L1 = {0, 10} L2 = L* L3 = {w the length of w is four} L3. (2.5 points) (b) Give the state diagram for a...
-
(a)(i) A microcontroller based on Harvard architecture executes a program that consists of 14 instructions. Each instruction takes two machine cycles to complete: fetching the opcode and executing...
-
What impact did the European Colonies have upon Early American history? With citation.
Study smarter with the SolutionInn App