=+6. Some years ago, Parent Ltd. acquired 60% of the shares of Child Ltd. On 31st December,

Question:

=+6. Some years ago, Parent Ltd. acquired 60% of the shares of Child Ltd.

On 31st December, 1962, the Balance Sheets of the two companies were as follows:

Parent Child Parent Child

£ £ £ £

Share Capital 200,000 80,000 Fixed Assets 180,000 64,000 Revenue Reserves 41,000 5,000 Investment in Profit & Loss A/c 24,000 9,000 C. Ltd. 61,000 Future Income Tax 12,000 9,000 Stock 44,000 27,000 5% Debentures 50,000 Debtors 31,000 19,000 Proposed Dividend 20,000 10,000 „ C. Ltd. 6,000 Creditors 17,000 4,000 Cash and Bank 42,000 13.000

„ P. Ltd. 6,000

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: