Immediately after P Ltd had acquired control of S1 Ltd and S2 Ltd the following balance sheets were drawn up. You are to draw up a consolidated balance sheet.

Transcribed Image Text:

Investments in subsidiaries: S1 Ltd (3,000 shares) S2 Ltd (3,200 shares) Fixed assets Current assets Share capital Profit and loss account Fixed assets Current assets Share capital Profit and loss account General reserve P Balance Sheet 42 3,800 4,700 5,500 2,500 16,500 10,000 6,500 16,500 S1 Balance Sheet 2,200 1,300 3,500 3,000 400 100 3,500