12.4 The following balance sheets are as at 31 December 20X6: H Limited SI Limited S2 Limited...
Question:
12.4 The following balance sheets are as at 31 December 20X6:
H Limited SI Limited S2 Limited
£000
£000
£000 Fixed assets 20,000 6,000 12,000 6m shares in SI Limited 11,000 8m shares in S2 Limited 14,000 Current assets 12,000 6,000 7,000 57,000 12,000 19,000 Less: Current liabilities 10,000 1,000 3,000 47,000 11,000 16,000 Share capital and reserves Ordinary shares of £1 each 30,000 6,000 10,000 General reserve 5,000 2,000 2,000 Profit and loss account 12,000 3,000 4,000 47,000 11,000 16,000 The subsidiaries had the following balances on their reserve accounts at their dates of acquisition:
SI Limited £000 General reserve 1,000 Profit and loss account 2,000 Required:
Prepare the consolidated balance sheet as at 31 December 20X6.
S2 Limited £000 2,000 3,000
Step by Step Answer:
Principles Of Financial Accounting
ISBN: 9780273676300
3rd Edition
Authors: Ian Gillespie, Richard Lewis, Kay Hamilton