The following balance sheets of P Ltd and S Ltd were drawn up as at 31 December
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The following balance sheets of P Ltd and S Ltd were drawn up as at 31 December 19X4. Draw up the consolidated balance sheet as at that date.
*The balance of £11,000 is after deducting the proposed dividend for 19X3 £20,000.
Transcribed Image Text:
P Balance Sheet as at 31 December 19X4 Investment in subsidiary: 100,000 shares bought 31.12.19X3 Fixed assets Current assets Share capital Profit and loss account: As at 31.12.19X3 Add Profit for 19X4* 194,000 250,000 59,000 503,000 400,000 39,000 64,000 103,000 503,000 *The profit figure for 19X4 includes the dividend of 20,000 received from S Ltd for the year 19X3. S Balance Sheet as at 31 December 19X4 Fixed assets Current assets Share capital Profit and loss account: As at 31.12.19X3* Add Profit for 19X4 84,000 49,000 133,000 100,000 11,000 22,000 33,000 133,000
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