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Prepare a group profit and loss account

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Question: Alpha Ltd. owns 75% of the shares of Beta Ltd. The Profit & Loss Accounts of the two companies for the year ended 31st October, 1961, were as follows:

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The balance on Profit & Loss Account of Beta Ltd. when Alpha Ltd. acquired its shares was £960. Prepare a Group Profit & Loss Account.

Reference no: EM131536815

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