Immediately after Pa, Ma and Co Ltd had achieved control of Sub 1 Ltd and Sub 2

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Immediately after Pa, Ma and Co Ltd had achieved control of Sub 1 Ltd and Sub 2 Ltd the following balance sheets are drawn up. You are to draw up the consolidated balance sheet.

Any negative goodwill is to be eliminated by adjusting the non-current assets of the relevant subsidiary.

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Frank Woods Business Accounting Volume 2

ISBN: 9780273712138

11th Edition

Authors: Frank Wood, Alan Sangster

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Question Posted: May 30, 2024 10:08 AM

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Immediately after Pa, Ma and Co Ltd had achieved control of Sub 1 Ltd and Sub 2

Question:

Pa, Ma and Co Balance Sheet Investments in subsidiaries: Sub 1 Ltd 16,000 1 Ordinary shares Sub 2 Ltd 24,000 1 Ordinary shares Non-current assets Current assets Share capital-Ordinary 1 shares Retained profits General reserve 30,000 38,000 81,000 27,000 176,000 100,000 56,000 20,000 176,000

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Frank Woods Business Accounting Volume 2

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