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Q5. This question requires you to prepare a consolidated balance sheet post-acquisition date. The actual...

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Q5. This question requires you to prepare a consolidated balance sheet post-acquisition date. The actual date of acquisition is not necessarily identified in the question, with the value of reserves of subsidiary given in the question. The post-acquisition date is 30 September 20X3. Use parent company extension method to prepare the consolidated balance sheet. Harry acquired 80% of the shares in Hermione for 1.40 per share when Hermione's reserves (profit and loss account) were 10,000. The respective balance sheets of the two companies at 30 September 20X3 are as follows. Produce a consolidated balance sheet for Harry Group as at 30 September 20X3. Investment in Hermione L&B Plant Other assets Harry Hermione 000 000 56 120 40 80 20 20 10 276 70 Share capital (1 shares) Reserves (P&L) 200 76 276 50 20 70

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