DFS Bell Plc, Clive, Grant in Jun 2005 Balance sheet

YupingYuping Settling In NicelyPosts: 22Registered
Can someone help me to check where my balance sheet gone wrong for associated company group! in the attachment

Bell Plc Balance sheet @ 31 Mar 2005
£
Non current asset 85386 Bell
32504 Clive
3000 Revaluation
120890

Good Will W2 1800
Investment in Associated Co. Grant W3 5200
127890

Current asset 24052 Bell
11585 Clive
35637

Current Liability 11981 Bell
6159 Clive
-18140

Net Asset 145387

Equity

Share capital 35000
share premium 25000
Retained Earnings 67617 Bell
1398 Clive W2
250 Grant W3
69265
Minority Interest W2 16372
145637
Workings W2 Clive
b/s date Acquisition Post
share cap 20000 20000
share prem 5000 5000
Retained
Earning 12930 10600 2330
Reveluation 3000 3000
40930 38600 2330
*40% *60% *60%
16372 23160 1398
Minority Inte

Proceeds 25160
-23160
2000
10% impa-200
Good will 1800

W3 Grant
b/s date Acquisition Post
share cap 10000 10000
Retained 9000 8000 1000
19000 18000 1000
*25% *25% *25%
4750 4500 250

Proceeds 5000
-4500
500
10% impa-50
good will 450

Investment 4750+450=5200

Comments

  • definite.studiesdefinite.studies Feels At Home Posts: 88Registered
    Your post is difficult to read because the forum software removes spaces from all messages. You need to edit the message and space things out with extra dots ........... to make it readable.
  • YupingYuping Settling In Nicely Posts: 22Registered
    Editted already!
    Yuping wrote: »
    Can someone help me to check where my balance sheet gone wrong for associated company group! in the attachment

    Bell Plc Balance sheet @ 31 Mar 2005
    £
    Non current asset 85386 Bell
    32504 Clive
    3000 Revaluation
    120890

    Good Will W2 1800
    Investment in Associated Co. Grant W3 5200
    total Non current asset 127890

    Current asset 24052 Bell
    11585 Clive
    35637

    Current Liability 11981 Bell
    6159 Clive
    -18140

    Net Asset 145387

    Equity

    Share capital 35000
    share premium 5000
    Retained Earnings 67617 Bell
    1398 Clive W2
    250 Grant W3
    69265
    Minority Interest W2 16372
    145637
    Workings W2 Clive
    b/s date Acquisition Post
    share cap 20000 20000
    share prem 5000 5000
    Retained
    Earning 12930 10600 2330
    Reveluation 3000 3000
    40930 38600 2330
    *40% *60% *60%
    =16372 =23160 =1398
    M.I

    Proceeds 25160
    -23160
    2000
    10% impa -200
    Good will 1800

    W3 Grant
    b/s date Acquisition Post
    share cap 10000 10000
    Retained 9000 8000 1000
    19000 18000 1000
    *25% *25% *25%
    =4750 =4500 =250

    Proceeds 5000
    -4500
    500
    10% impa -50
    good will 450

    Investment 4750+450=5200
  • definite.studiesdefinite.studies Feels At Home Posts: 88Registered
    What I meant was that the layout is all pushed over to the left hand side, so figures which should be above one another are not and the whole thing is difficult to understand. So far as I can see you have not put in any dots, so there has been no improvement. If you want people to help you then you need to make it a bit less of a struggle for them.
  • YupingYuping Settling In Nicely Posts: 22Registered
    I am really sorry. I just could not work out how to edit it! thanks for your attention
  • YupingYuping Settling In Nicely Posts: 22Registered
    I am really sorry. I just could not work out how to edit it! thanks for your attention
  • YupingYuping Settling In Nicely Posts: 22Registered
    edit again!
    Yuping wrote: »
    Can someone help me to check where my balance sheet gone wrong for associated company group! in the attachment

    Bell Plc Balance sheet @ 31 Mar 2005
    £
    Non current asset 85386 Bell
    ....................32504 Clive
    ..........................3000 Revaluation
    ............................................120890

    Good Will W2 ...................................1800
    Investment in Associated Co. Grant W3 5200
    total non current asset..............................................................127890

    Current asset 24052 Bell
    .............11585 Clive
    total current asset .....................................................................35637

    Current Liability 11981 Bell
    6159 Clive
    total liability .............................................................................-18140

    Net Asset.................................................................................145387

    Equity

    Share capital.............................................................................35000
    share premium............................................................................25000
    Retained Earnings 67617 Bell
    ......................1398 Clive W2
    ........................250 Grant W3
    total retained earnings..................................................................69265
    Minority Interest...............W2.......................................................16372
    total equity...............................................................................145637


    Workings W2 Clive
    b/s date Acquisition Post
    share cap 20000 20000
    share prem 5000 5000
    Retained
    Earning 12930 10600 2330
    Reveluation 3000 3000
    40930 38600 2330
    *40% *60% *60%
    16372 23160 1398
    Minority Inte

    Proceeds 25160
    -23160
    2000
    10% impa-200
    Good will 1800

    W3 Grant
    b/s date Acquisition Post
    share cap 10000 10000
    Retained 9000 8000 1000
    19000 18000 1000
    *25% *25% *25%
    4750 4500 250

    Proceeds 5000
    -4500
    500
    10% impa-50
    good will 450

    Investment 4750+450=5200
  • crispycrispy Trusted Regular SouthamptonPosts: 454Registered
    Hello,

    You simply just have not deducted the total goodwill impairment (200 + 50) from consolidated ret. earnings. Adjusting this should bring a figure of 69,015 and therefore balancing your equity back to the top half of balance sheet to 145,387 - all your other figures are fine.

    Hope this helps.
  • YupingYuping Settling In Nicely Posts: 22Registered
    thanks for your answers! I asked the same question to my tuitor. he thought it is because the Income statement is not offered for associated company!
Sign In or Register to comment.