The following are the Balance Sheets of Kubwa Ltd and its subsidiaries Dogo Ltd and Toto Ltd as at 31^st December 2022;

KUBWA LTD.

Authorised issued and fully paid

Share capital.

10,000 Ordinary shares Fixed Assets 81,000.

Of shs 20/- each 100,000.

Profit and loss Account. Investment at Cost.

Dogo Ltd.

Balance 1^st January (50,000 shares) 30,000

2022 20,000. Toto Ltd.

Profit for the year (20,000 shares) 20,000 50,000

2022 12,000 32,000 Loan to Dogo Ltd 1,000

5% Debenture 5,000. Stock 2,500

Sundry Creditors 3,000. Sundry debtors 4,000

. Cash 1,500

14,000. 140,000

DOGO LTD

Authorised issued and fully paid

Share capital.

50,000 Ordinary shares of Fixed assets 29,000

shs 10/- each 25,000 Stock 1,500

Profit and loss Account. Sundry debtors 2,000

Balance 1st January Cash 500

2022 3,000.

Profit for the year

2022 2,000 5,000

Loan from Kubwa Ltd

2022 1,000

Sundry Creditors 2,000

33,000. 33,000.

TOTO LTD.

Authorised issued and fully paid

Share capitaL

30,000 Ordinary shares of

shs 10/- each 15,000. Fixed Assets 15,000.

Profit and loss Account. Debentures of

Kubwa Ltd 3,000.

Balance 1st January

2022 3,000. Stock 1,000

Profit for the year

2022 1,500 4,500 Sundry debtors 1,500

Sundry Creditors 1,500. Cash 500

. 21,000 21,000

Kubwa ltd acquired the shares in both subsidiaries on 1^st January 2022 .

Kubwa limited sold stock sold stock at Dogo Ltd at 50% mark up on cost. All of the stock shown on dogo Ltd balance sheets was purchased from kubwa stock shown on dogo ltd has yet paid kubwa for this stock and the amount owing is included in the sundry creditors in its balance sheets.

Included in the sundry creditors of toto ltd is 500 owing to dogo ltd . No dividends have been paid by any of the companies for 2022 nor are any proposed.

Required;

A consolidated balance sheet for kubwa ltd and its subsidiaries. All working to be shown