A The following balance sheets of P Ltd, S1 Ltd and S2 Ltd were drawn up as
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A The following balance sheets of P Ltd, S1 Ltd and S2 Ltd were drawn up as soon as P Ltd had acquired the shares in both subsidiaries. You are to draw up a consolidated balance sheet.
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Investments in subsidiarics: S1 Ltd 3,500 shares $2 I.td 2,000 shares Fixed assets Current assets Share capital Profit and loss account General reserve Fixed assets Current assets Share capital Profit and loss account General reserve P Balance Sheet 6,070 5,100 2,030 1,400 14,600 11,000 1,000 2,600 14,600 S1 Balance Sheet 4,800 2,400 7,200 5,000 900 1,300 7,200
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