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You are presented with the following information from the James group of companies for the for the year ended 2 0 2 0 . CLARKE
You are presented with the following information from the James group of companies for the for
the year ended
CLARKE CRYSTAL JOSHUA
Investment in Subsidiaries
Crystal shares bought x
Joshua shares bought x
Fixed Assets
Stock
Debtors
Bank
Creditors
Total assets less liabilities
Financed by:
Share Capital
Profit and Loss:
as at x
less loss for x
General reserve as at x
At the balance sheet date, Crystal owed Clarke $ and Joshua $ and Clarke
owed Joshua $
Clarke had sold goods which had cost $ to Joshua for $ and of those goods
had been sold by Joshua by the year end.
Required:
Prepare a consolidated Balance sheet for the Clarke group.
Show all working clearly.
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