Summarized financial position statement of 3 companies as at 31 Dec 2014 was as follows: J(K) ltd K(C) ltd Les ltd Sh 000 sh '000 sh 000 Tangible fixed assets Investment in subsidiary 972 843 405 jin K (700,000 shares) 356 kin L(300,000 shard) 229 Net current assets 205 229 164 1,533 1,320 570 Ordinary shares of sh 1 Per share 1,200 1,000 400 Reserves profit & loss Other 233 200 100 100 120 70 1,533 1,320 570 At the date of acquisition (1st April 2014) by J of its holdings K profit and loss account had a Credit balance of sh 100,000 and other reserves sh 50,000. It K acquired its holding in K ltd on the same day being a newly established company. REQUIRED: Consolidated balance sheets of the J group as at 31 Dec 2014

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Summarized financial position statement of 3 companies as at 31 Dec 2014 was
as follows:
J(K) ltd
K(C) ltd
Les ltd
Sh 000
sh '000
sh 000
Tangible fixed assets
Investment in subsidiary
972
843
405
jin K (700,000 shares)
356
kin L(300,000 shard)
229
Net current assets
205
229
164
1,533
1,320
570
Ordinary shares of sh 1
Per share
1,200
1,000
400
Reserves profit & loss
Other
233
200
100
100
120
70
1,533
1,320
570
At the date of acquisition (1st April 2014) by J of its holdings K profit and
loss account had a Credit balance of sh 100,000 and other reserves sh 50,000. It K
acquired its holding in K ltd on the same day being a newly established company.
REQUIRED:
Consolidated balance sheets of the J group as at 31 Dec 2014
Transcribed Image Text:Summarized financial position statement of 3 companies as at 31 Dec 2014 was as follows: J(K) ltd K(C) ltd Les ltd Sh 000 sh '000 sh 000 Tangible fixed assets Investment in subsidiary 972 843 405 jin K (700,000 shares) 356 kin L(300,000 shard) 229 Net current assets 205 229 164 1,533 1,320 570 Ordinary shares of sh 1 Per share 1,200 1,000 400 Reserves profit & loss Other 233 200 100 100 120 70 1,533 1,320 570 At the date of acquisition (1st April 2014) by J of its holdings K profit and loss account had a Credit balance of sh 100,000 and other reserves sh 50,000. It K acquired its holding in K ltd on the same day being a newly established company. REQUIRED: Consolidated balance sheets of the J group as at 31 Dec 2014
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