Papa Smurf Ltd owns 52% of Felix Cat Ltd, 39% of Garfield Ltd, and 51% of Top Cat Ltd. Below are the individual Balance Sheets for Papa Smurf Ltd, Felix Cat Ltd, Garfield Ltd, Top Cat Ltd and the consolidated Balance Sheet of Papa Smurf Group Ltd. There are a number of errors in the consolidated Balance Sheet.

To determine what those errors are and to correctly recalculate the consolidated Balance Sheet.

T 125% + Zaam Add Page T Text ( Callabarat View Insert Table Chart Shape Media Comment Format Document This document has missing fonts. . Show Papa Smurf Ltd Balance Sheet as at 31 March 2018 Current Assets Current Liabilities Cash 20.000 92.000 75.000 Accounts Payable Total Current Liabilities Other Cllrent Assets 92,000 Total Current Assets 95,000 Long-term Liabilities Loans 80,000) Non-Current Assets Total Long-term Loans 80,000 Plant & Equipment 51,000 Net Dep) Land 60X).000) Total Liabilities 172,000 Nothing selected. Select an object or text to format, Investment in Felix 206.960 Cat Ltd 194.610 Shareholders' Equity Investimenti Garfield Ltd Investment in Top Cat Lid 244.290 Common Stock 1.000.000 200,00) Total Non- Current Assets 1,296,86) Other Contributed Capital Retained Larnings 19,860 1.219.865 Total Shareholders Equity Total Assets 1,391,860 Total Liabilities and Shareholders' Equity 1,391,860 1,391,860 Tv 125% + Zoom Add Page T T Text ( Collaborate View Insert Table Chart Shape Media Comment Format Document ? This document has missing fonts. Show Felix Cat Ltd Balance Sheet as at 31 March 2018 Current Assets 18,000 30.000 Cash Other current Assets Current Liabilities Accounts Payable Total Current Libilities 30,000 48,000 Total Current Assets Long-term Liabilities Loans 10.000 Non-Current Assets Nothing selected. Select an object or text to format, 70,000 Total Long-term Loans 90,000 Plant & Equipment (Net Dep) Land 400.000 Total Linbilities 120,000 470.000 Total Non- Current Assets 350,000 40,000 Shareholders' Equity Common Stock Other Contributed Capital Retained Farnings Total Shareholders' | L Equity 8,000 398,000 Total Assets 518,000 518,000 Total Liabilities and Shareholders' Equity T v 125% + Zaam Add Page T Text ( Collaborate View Insert Table Chart Shape Media Comment Format Document This document has missing fonts. Show Garfield Ltd Balance Sheet as at 31 March 2018 Current Assets Current Liabilities Cash 7,000 Accounts Payable 8.000 Other current 70,000 Total Current Liabilities 8,000 Total Current Assets 77,000 Long-term Liabilities Loans 20.000 Non-Current Assets 100,000 Total Long-term Loans 20.000 Plant & Equipment (Net Dep) Nothing selected. Select an object or text to format, Land 350.000 Total Liabilities 28,000 450,000 Total Non- Current Assets Shareholders' Equity Cortion Stuck 450.000 Other Contributed Capital 39.000 10.000 Retained Larrings Total Shareholders 499.000 Equity Total Assets Total Assets 527.000 527,000 Total Liabilities and Shareholders' Equity T 125% + Zaam Add Page ul Chart T Text View Insert Table Shape Media Comment Callaborate Format Document Top Cat Ltd Balance Sheet as at 31 March 2018 Current Liabilities Current Assets Cash 40,000 11.000 Accounts Payable Total Current Liabilities 20.000 Other current Assets 11,000 60,000 Total Current Assets Long-term Liabilities Loans 130.000 160,000 Non-Current Assets Plant & Fquipment (Net Dep) Land Total Long-term Loans - 130.000 Nothing selected. Select an object or text to format, 400.000 Total Liabilities 141,000 Total Non- Current Assets 560,000 560,000 400.000 70,000 Shareholders' Equity Common Stock Other Contributed Capital Retained Earnings Total Shareholders Equity 9.08)0 479.000 Total Assets Total Assets 620.000 620,000 Total Liabilities and Shareholders' Equity T v 125% + Zaam Add Page T T Text View Insert Table Chart Shape Media Comment Callaborate Format Document Papa Smurf Group Ltd Consolidated Balance Sheet for the year ending 31 March 2018 Current Assets Current Liabilities Casti 85,000 141.000 Accounts Payable Total Current Liabilities 195.000 141,000 Other current Assets Total Current Assets 280,000 Long-term Liabilities Loans 320,000 Non-Current Assets 381,000 Total Long-term Loans 320,000 Plant & Equipment (Net Dep) Nothing selected. Select an object or text to format, Land 1.750,000 Total Liabilities 461,000 61,000 2,131,000 Total Non- Current Assets 1,000,000 200.000) Shareholders' Equity Common Stock Other Contributed Capital Retained Earnings Total Shareholders' Equity Non-controlling Minority 19.860 1.219,80) 730.140 Interest Total Assets 2,411,000 Total Liabilities and Shareholders' Equity 2,411,000 T 125% + Zaam Add Page T Text ( Callabarat View Insert Table Chart Shape Media Comment Format Document This document has missing fonts. . Show Papa Smurf Ltd Balance Sheet as at 31 March 2018 Current Assets Current Liabilities Cash 20.000 92.000 75.000 Accounts Payable Total Current Liabilities Other Cllrent Assets 92,000 Total Current Assets 95,000 Long-term Liabilities Loans 80,000) Non-Current Assets Total Long-term Loans 80,000 Plant & Equipment 51,000 Net Dep) Land 60X).000) Total Liabilities 172,000 Nothing selected. Select an object or text to format, Investment in Felix 206.960 Cat Ltd 194.610 Shareholders' Equity Investimenti Garfield Ltd Investment in Top Cat Lid 244.290 Common Stock 1.000.000 200,00) Total Non- Current Assets 1,296,86) Other Contributed Capital Retained Larnings 19,860 1.219.865 Total Shareholders Equity Total Assets 1,391,860 Total Liabilities and Shareholders' Equity 1,391,860 1,391,860 Tv 125% + Zoom Add Page T T Text ( Collaborate View Insert Table Chart Shape Media Comment Format Document ? This document has missing fonts. Show Felix Cat Ltd Balance Sheet as at 31 March 2018 Current Assets 18,000 30.000 Cash Other current Assets Current Liabilities Accounts Payable Total Current Libilities 30,000 48,000 Total Current Assets Long-term Liabilities Loans 10.000 Non-Current Assets Nothing selected. Select an object or text to format, 70,000 Total Long-term Loans 90,000 Plant & Equipment (Net Dep) Land 400.000 Total Linbilities 120,000 470.000 Total Non- Current Assets 350,000 40,000 Shareholders' Equity Common Stock Other Contributed Capital Retained Farnings Total Shareholders' | L Equity 8,000 398,000 Total Assets 518,000 518,000 Total Liabilities and Shareholders' Equity T v 125% + Zaam Add Page T Text ( Collaborate View Insert Table Chart Shape Media Comment Format Document This document has missing fonts. Show Garfield Ltd Balance Sheet as at 31 March 2018 Current Assets Current Liabilities Cash 7,000 Accounts Payable 8.000 Other current 70,000 Total Current Liabilities 8,000 Total Current Assets 77,000 Long-term Liabilities Loans 20.000 Non-Current Assets 100,000 Total Long-term Loans 20.000 Plant & Equipment (Net Dep) Nothing selected. Select an object or text to format, Land 350.000 Total Liabilities 28,000 450,000 Total Non- Current Assets Shareholders' Equity Cortion Stuck 450.000 Other Contributed Capital 39.000 10.000 Retained Larrings Total Shareholders 499.000 Equity Total Assets Total Assets 527.000 527,000 Total Liabilities and Shareholders' Equity T 125% + Zaam Add Page ul Chart T Text View Insert Table Shape Media Comment Callaborate Format Document Top Cat Ltd Balance Sheet as at 31 March 2018 Current Liabilities Current Assets Cash 40,000 11.000 Accounts Payable Total Current Liabilities 20.000 Other current Assets 11,000 60,000 Total Current Assets Long-term Liabilities Loans 130.000 160,000 Non-Current Assets Plant & Fquipment (Net Dep) Land Total Long-term Loans - 130.000 Nothing selected. Select an object or text to format, 400.000 Total Liabilities 141,000 Total Non- Current Assets 560,000 560,000 400.000 70,000 Shareholders' Equity Common Stock Other Contributed Capital Retained Earnings Total Shareholders Equity 9.08)0 479.000 Total Assets Total Assets 620.000 620,000 Total Liabilities and Shareholders' Equity T v 125% + Zaam Add Page T T Text View Insert Table Chart Shape Media Comment Callaborate Format Document Papa Smurf Group Ltd Consolidated Balance Sheet for the year ending 31 March 2018 Current Assets Current Liabilities Casti 85,000 141.000 Accounts Payable Total Current Liabilities 195.000 141,000 Other current Assets Total Current Assets 280,000 Long-term Liabilities Loans 320,000 Non-Current Assets 381,000 Total Long-term Loans 320,000 Plant & Equipment (Net Dep) Nothing selected. Select an object or text to format, Land 1.750,000 Total Liabilities 461,000 61,000 2,131,000 Total Non- Current Assets 1,000,000 200.000) Shareholders' Equity Common Stock Other Contributed Capital Retained Earnings Total Shareholders' Equity Non-controlling Minority 19.860 1.219,80) 730.140 Interest Total Assets 2,411,000 Total Liabilities and Shareholders' Equity 2,411,000