Question
BlueOcean Corp. provided the following balance sheets as at 31 December 2023. Draw up the consolidated balance sheet as at that date. BlueOcean Corp Balance
BlueOcean Corp. provided the following balance sheets as at 31 December 2023. Draw up the consolidated balance sheet as at that date.
BlueOcean Corp Balance Sheet as at 31 December 2023Assets | Amount |
Investment in subsidiary (75,000 shares bought 31.12.2022) | $200,000 |
Fixed assets | $300,000 |
Current assets | $75,000 |
Total | $575,000 |
Liabilities and Equity | Amount |
Share capital | $450,000 |
Profit and loss account (31.12.2022) | $50,000 |
Add Profit for 2023 | $75,000 |
Total | $575,000 |
Assets | Amount |
Fixed assets | $120,000 |
Current assets | $60,000 |
Total | $180,000 |
Liabilities and Equity | Amount |
Share capital | $90,000 |
Profit and loss account (31.12.2022) | $20,000 |
Add Profit for 2023 | $70,000 |
Total | $180,000 |
Requirement: Draw up the consolidated balance sheet for BlueOcean Corp. and its subsidiary as at 31 December 2023. Calculate the minority interest.
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Advanced Financial Accounting An International Approach
Authors: Jagdish Kothari, Elisabetta Barone
1st Edition
0273712748, 978-0273712749
