Model: Debentures in subsidiary company The following are the balance sheets of C Ltd. and its subsidiary D Ltd. as at 31 March 2011:
|
Liabilities |
A Ltd. |
B Ltd. |
Assets |
A Ltd. |
B Ltd. |
|
Share Capital: |
Fixed Assets |
15,00,000 |
7,20,000 |
||
|
Equity Shares of ,T. 100 |
12,00,000 |
4,50,000 |
Investment in 4,500 quity |
6,00,000 |
— |
|
Each Fully Paid |
Shares in B Ltd. on 1 April |
||||
|
2010 |
|||||
|
13% Preference Shares of |
— |
3,00,000 |
Current Assets (Including |
9,00,000 |
7,80,000 |
|
Rs. 100 Each Fully Paid |
Rs. 30,000 Stock-in-Trade |
||||
|
Purchased from A Ltd.) |
|||||
|
General Reserve |
1,50,000 |
1,20,000 |
|||
|
P&L A/c (Before |
90,0000 |
75,000 |
|||
|
Appropriation for |
|||||
|
Dividends) |
|||||
|
9% Debentures |
6,00,000 |
— |
|||
|
Current Liabilities and |
9,60,000 |
5,55,000 |
|||
|
Provisions |
|||||
|
30,00,000 |
15,00,000 |
30,00,000 |
15,00,000 |
Prepare the consolidated balance sheet as at 31 March 2011 assuming that D Ltd. earned uniformly in 2010–11 and its P&L A/c showed a debit balance of Rs.60,000 on 1 April 2010. Also show the working.