Parents Ltd bought 52% of the shares in Offspring Ltd on 31 October 2017. From the following
Question:
Parents Ltd bought 52% of the shares in Offspring Ltd on 31 October 2017. From the following statements of financial position you are to draw up the consolidated statement of financial position as at 31 October 2018.
Transcribed Image Text:
Investment in Offspring Ltd: 46,800 shares Non-current assets Current assets Papai Statement of Financial Position as at 31 October 2018 Share capital Retained profits: As at 31.10.2017 Add Profit for 2018 Non-current assets Current assets Share capital Retained profits: Offspring Statement of Financial Position as at 31 October 2018 As at 31.10.2017 Add Profit for 2018 General reserve (unchanged since 2017) £ 31,000 51,000 £ 9,000 7,000 £ 80,000 121,000 41,000 242,000 160,000 82,000 242,000 £ 103,000 23,000 126,000 90,000 16,000 20,000 126,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (2 reviews)
To prepare the consolidated statement of financial position as at 31 October 2018 for Parents Ltd an...View the full answer
Answered By
Abdul Wahab Qaiser
Before working at Mariakani, I volunteered at a local community center, where I tutored students from diverse backgrounds. I helped them improve their academic performance and develop self-esteem and confidence. I used creative teaching methods, such as role-playing and group discussions, to make the learning experience more engaging and enjoyable.
In addition, I have conducted workshops and training sessions for educators and mental health professionals on various topics related to counseling and psychology. I have presented research papers at conferences and published articles in academic journals.
Overall, I am passionate about sharing my knowledge and helping others achieve their goals. I believe that tutoring is an excellent way to make a positive impact on people's lives, and I am committed to providing high-quality, personalized instruction to my students.
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
-
Parents Pleasure Ltd bought 60% of the shares of Triplet Enterprise Ltd on 31 March 2017. The statements of financial position of the two companies on 31 March 2018 are as follows. You are to draw up...
-
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...
-
Parent plc bought 40,000 shares in Subsidiary 1 Ltd and 27,000 shares in Subsidiary 2 Ltd on 31 December 2015. The following statements of financial position were drafted as at 31 December 2016. You...
-
Pls Show the answers and explanation 5. AJD Company had a production run of 8,000 pairs of jeans during the last week of June, with the following unit costs: Final inspection revealed that 600 pairs,...
-
Watters Umbrella Corp, issured 15-year bonds two years ago at a coupon rate of 7.8 percent. The bonds make semiannual payments. If these bonds currently sell for 105 percent of par value, what is the...
-
A window washer pushes his scrub brush up a vertical window at constant speed by applying a force F as shown in Fig. 5.65. The brush weighs 12.0 N and the coefficient of kinetic friction is μk =...
-
Which of the following numbers are in scientific notation? If the number is not in scientific notation, explain why it is not. 1. \(-9.67 \times 10^{20}\) 2. \(145 \times 10^{-8}\) 3. 1.45
-
The ledger of Montgomery Company at the end of the current year shows Accounts Receivable $78,000; Credit Sales $810,000; and Sales Returns and Allowances $40,000. Instructions (a) If Montgomery uses...
-
Give explanation. Your tuition for the coming year is due today. You have a choice to borrow $8,000 from your uncle and repay in three years an amount of $9,200 or to borrow the same amount from your...
-
Hastings College pooled the individual investments of three of its funds on December 31, 2024. The recorded value and the fair market value of the investments on December 31, 2024, are presented...
-
Parental Dream Company Ltd buys shares in Sibling 1 and Sibling 2 on 31 December 2017. You are to draft the consolidated statement of financial position as at 31 December 2018 from the following:...
-
Dad Ltd buys 100% of the shares of Daughter Ltd on 31 December 2015. The statements of financial position of the two companies on 31 December 2016 are as shown. You are to draw up a consolidated...
-
Which statement is NOT correct? a. Indexed random files are dispersed throughout the storage device without regard for physical proximity with related records. b. Indexed random files use disk...
-
The Allwardt Trust is a simple trust that correctly uses the calendar year for tax purposes. Its income beneficiaries (Lucy and Ethel) are entitled to the trust's annual accounting income in shares...
-
Arrange this into a speech: It gives me great pleasure to have this opportunity to speak with you today on theimpactof accounting on Caribbean society. Accounting is an essential component of...
-
A company receives a 5-year 8% accrued interest $100,000 principal loan. Principal (and accrued interest) is only paid at the end of 5 years. The company must pay the lender 4% fees up front and has...
-
(a) Why is designing truly secure systems difficult? State TWO reasons. (4 marks) (b) In the context of network security, what are Dictionary and Reply attacks? (4 marks) (c) Explain how do Intrusion...
-
A man holds a 12 N weight motionless by pulling on the rope. Note that 12 N is weight of the block, not the mass. What is the tension of rope A in Newtons?
-
If 12 balls are thrown at random into 20 boxes, what is the probability that no box will receive more than one ball?
-
Define the essential properties of the following types of operating systems: a. Batch b. Interactive c. Time sharing d. Real time e. Network f. Parallel g. Distributed h. Clustered i. Handheld
-
Given a choice, why would most companies prefer to adopt acquisition accounting?
-
Explain the difference between the consolidated retained profits figure of 83 and the total of 109 found if you add together the retained profits of P2 Ltd and S2 Ltd.
-
The following are the trial balances of ATH Ltd, GLE Ltd, and FRN Ltd as at 31 December 20X8. ATH Ltd acquired the shares in FRN Ltd on 31 December 20X6, when the credit balance on the profit and...
-
Farmer Evans is holding 200 pounds of potatoes in storage for Chef Noble but Chef Noble has breached the contract by failing to pay for the potatoes. The potatoes are beginning to rot. If Farmer...
-
Average daily rate is calculated using: O Total Room Revenue and Total Number of Rooms Sold O Total Room Revenue. and Total Number of Rooms Available O Total Room Revenue and RevPAR
-
The more successfully a firm can align information technology with its business goals, the _ _ _ _ _ _ _ _ . Question content area bottom Part 1 A . more its data will cost B . less successful it...
Study smarter with the SolutionInn App