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.

Transcribed Image Text:

Parent Ltd Statement of Financial Position as at 31 December 2017 £ Non-current assets Investment in Sub 1: 54,000 shares bought 31.12.2016 Other non-current assets Current assets Share capital Retained profits: As at 31.12.2016 Add Profit for 2017 General reserve Sub 1 Ltd Statement of Financial Position as at 31 December 2017 £ Non-current assets Investment in Sub 2: 14,000 shares bought 31.12.2016 Other non-current assets Current assets Share capital Retained profits: As at 31.12.2016 Add Profit for 2017 Non-current assets Current assets 84,000 116,000 Sub 2 Ltd Statement of Financial Position as at 31 December 2017 Share capital Retained profits: As at 31.12.2016 Add Profit for 2017 40,000 92,000 £ 8,000 10,000 £ 128,000 572,000 160,000 860,000 600,000 200,000 60,000 860,000 £ 60,000 101,000 31,000 192,000 60,000 132,000 192,000 £ 24,000 14,000 38,000 20,000 18,000 38,000