Martin Co owns 100% of Kyle Co. The following information has been extracted from the individual company's statements fo financail position as at 31 December 2014.
| Martin Co | Kyle Co | |
| $ | $ | |
| Current assets | 760,000 | 609,000 |
| Current liabilities | 130,000 | 255,000 |
Included in the receivables of Martin Co and the payables of Kyle Co is an amount of $21,105. owed to Martin Co by Kyle Co.
If there are no other inter-group balances what amount would be shown for consolidated current assets and current liabilities?
Suggested solutions:
| Martin Co | Kyle Co | Conso | Remarks | |
| $ | $ | $ | ||
| Current assets | 760,000 | 609,000 | 1,347,895 | (21,105) |
| Current liabilities | 130,000 | 255,000 | 363,895 | (21,105) |
To do the same topic again in ACCA F3 INTRA GROUP BALANCE
To do another topic in ACCA F3
ACCA F3 INTRA GROUP BALANCE