Parental Venture plc Statement of Financial Position as at 31 December 2018 When Parental Venture plc took
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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 of £80,000 as shown.
Draw up the consolidated statement of financial position as at 31 December 2018.
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Non-current assets Investment in Subsidiary: 60,000 shares bought 31.12.2017 Other non-current assets Less Depreciation for year Current assets Share capital Retained profits: As at 31.12.2017 Add Profit for 2018 Non-current assets Less Depreciation for year Current assets Subsidiary Statement of Financial Position as at 31 December 2018 £ 80,000 (8,000) Share capital Retained profits: 120,000 (12,000) As at 31.12.2017 Add Profit for 2018 51,000 23,000 16,000 8,000 4 98,000 108,000 18,000 224,000 150,000 74,000 224,000 £ 72,000 12,000 84,000 60,000 24,000 84,000
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Related Book For
Frank Woods Business Accounting Volume 2
ISBN: 9781292085050
13th Edition
Authors: Frank Wood, Alan Sangster
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