Help Please for DFS
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Hi all<BR><BR>can any one solve this problem for me and post to my e mail which is bhandariarjun@aol.com<BR><BR>Situation:-<BR><BR>On 1st January 20X9, PIXIE Ltd acquired the following shareholdings in DIXIE Ltd. At the date the accumulated profits of DIXIE Ltd amounted to £20,000.00<BR><BR> No of shares Cost of investment<BR>£1 ordinary shares 37500 £58000<BR>£1 preference shares 16000 £15000<BR> _________<BR> £73000<BR><BR>The balance sheets of the two companies at 31 december 20X9 were as follows<BR><BR> Pixie Ltd Dixie Ltd<BR>Ordinary share capital 200,000 50,000<BR>7% Preference share capital
40000<BR>P & L 120,000 38,000<BR>Sundry Creditors 56,100 22,100<BR><BR>Proposed Dividends<BR>Ordinary 20000 2500<BR>Preference
1400<BR> ________ ________<BR> 396,100 154,000<BR> ________ ________<BR><BR>Fixed Asset 210,000 110,600<BR>Current Asset 113,100 43,400<BR>Investment in Dixie 73,000
<BR> ________ ________<BR> 396,100 154,000<BR> _________ ________<BR>You further assertain that:<BR><BR>1. current assets of pixie ltd include £42,000.00 of goods acquired originally from Dixie Ltd. Dixie Ltd invoiced these goods at cost plus 20%<BR><BR>2. Pixie Ltd has not accounted for dividends receivable from Dixie Ltd<BR><BR>3. Goodwill is to be written off over 9 years<BR><BR><BR>Task:<BR>Prepare the consolidated balance sheet of Pixie Ltd and its shusidiary as at 31 December 20X9<BR><BR><BR>PLEASE PLEASE PLEASE help me out of this. I am having exam on wednesday.<BR><BR>Many thanks in advance<BR><BR>Arjun<BR>
40000<BR>P & L 120,000 38,000<BR>Sundry Creditors 56,100 22,100<BR><BR>Proposed Dividends<BR>Ordinary 20000 2500<BR>Preference
1400<BR> ________ ________<BR> 396,100 154,000<BR> ________ ________<BR><BR>Fixed Asset 210,000 110,600<BR>Current Asset 113,100 43,400<BR>Investment in Dixie 73,000
<BR> ________ ________<BR> 396,100 154,000<BR> _________ ________<BR>You further assertain that:<BR><BR>1. current assets of pixie ltd include £42,000.00 of goods acquired originally from Dixie Ltd. Dixie Ltd invoiced these goods at cost plus 20%<BR><BR>2. Pixie Ltd has not accounted for dividends receivable from Dixie Ltd<BR><BR>3. Goodwill is to be written off over 9 years<BR><BR><BR>Task:<BR>Prepare the consolidated balance sheet of Pixie Ltd and its shusidiary as at 31 December 20X9<BR><BR><BR>PLEASE PLEASE PLEASE help me out of this. I am having exam on wednesday.<BR><BR>Many thanks in advance<BR><BR>Arjun<BR>
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Help Please for DFS
Are you sure there are 16,000 preference shares?<BR><BR>Sara0