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

Yuping

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

definite.studies

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.

Yuping

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.studies

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.

Yuping

I am really sorry. I just could not work out how to edit it! thanks for your attention

Yuping

I am really sorry. I just could not work out how to edit it! thanks for your attention

Yuping

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

crispy

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.

Yuping

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!