Question: Given the following balance sheets and additional information, create a consolidated balance sheet as of 30 June 2022. Delta Corporation Balance Sheet as at 30
Given the following balance sheets and additional information, create a consolidated balance sheet as of 30 June 2022.
Delta Corporation Balance Sheet as at 30 June 2022:
Assets | £ |
Fixed assets | |
- Investment in Subsidiary | 500,000 |
- Other fixed assets | 600,000 |
- Less Depreciation | (100,000) |
Current assets | 130,000 |
Total Assets | 1,130,000 |
Equity | £ |
Share capital | 600,000 |
Retained earnings | |
- As at 30.06.2021 | 250,000 |
- Add Profit for 2022 | 60,000 |
Total Equity | 910,000 |
Gamma Ltd Balance Sheet as at 30 June 2022:
Assets | £ |
Fixed assets | 420,000 |
- Less Depreciation | (110,000) |
Current assets | 180,000 |
Total Assets | 490,000 |
Equity | £ |
Share capital | 350,000 |
Retained earnings | |
- As at 30.06.2021 | 100,000 |
- Add Profit for 2022 | 40,000 |
Total Equity | 490,000 |
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