NovaWave Ltd. has the following balance sheets for 31 December 2023. Prepare the consolidated balance sheet for 31 December 2023.<\/p>
NovaWave Ltd Balance Sheet as at 31 December 2023<\/strong><\/p> Assets<\/strong><\/p><\/td> Amount<\/strong><\/p><\/td><\/tr><\/thead> Investment in subsidiary (85,000 shares bought 31.12.2022)<\/p><\/td> $200,000<\/p><\/td><\/tr> Fixed assets<\/p><\/td> $275,000<\/p><\/td><\/tr> Current assets<\/p><\/td> $75,000<\/p><\/td><\/tr> Total<\/strong><\/p><\/td> $550,000<\/p><\/td><\/tr><\/tbody><\/table> <\/p> Liabilities and Equity<\/strong><\/p><\/td> Amount<\/strong><\/p><\/td><\/tr><\/thead> Share capital<\/p><\/td> $380,000<\/p><\/td><\/tr> Profit and loss account (31.12.2022)<\/p><\/td> $60,000<\/p><\/td><\/tr> Add Profit for 2023<\/p><\/td> $110,000<\/p><\/td><\/tr> Total<\/strong><\/p><\/td> $550,000<\/p><\/td><\/tr><\/tbody><\/table>BlueWave Ltd Balance Sheet as at 31 December 2023 Assets<\/strong><\/p><\/td> Amount<\/strong><\/p><\/td><\/tr><\/thead> Fixed assets<\/p><\/td> $110,000<\/p><\/td><\/tr> Current assets<\/p><\/td> $70,000<\/p><\/td><\/tr> Total<\/strong><\/p><\/td> $180,000<\/p><\/td><\/tr><\/tbody><\/table> <\/p> Liabilities and Equity<\/strong><\/p><\/td> Amount<\/strong><\/p><\/td><\/tr><\/thead> Share capital<\/p><\/td> $90,000<\/p><\/td><\/tr> Profit and loss account (31.12.2022)<\/p><\/td> $10,000<\/p><\/td><\/tr> Add Profit for 2023<\/p><\/td> $80,000<\/p><\/td><\/tr> Total<\/strong><\/p><\/td> $180,000<\/p><\/td><\/tr><\/tbody><\/table> Requirement:<\/strong> Prepare the consolidated balance sheet for NovaWave Ltd. and its subsidiary as at 31 December 2023. Determine the equity attributable to shareholders of the parent company.<\/p>",
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"related_book": {
"title": "Financial Accounting",
"isbn": "9780077506902, 78025540, 77506901, 978-0078025549",
"edition": "3rd edition",
"authors": "J. David Spiceland, Wayne Thomas, Don Herrmann",
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"uri": "\/textbooks\/financial-accounting-3rd-edition-314",
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"isbn": "146135580X",
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"name": "Transmission Efficient Design And Management Of Wavelength Routed Optical Networks",
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