Model: Investments in different dates. The balance sheets of a holding company (H Ltd.) and its subsidiary (S Ltd.) at 31 December 2010 are as follows:
|
Particulars |
X Ltd.Rs. |
Y Ltd.Rs. |
|
Equity Share of Rs.10 Each Fully Paid |
12,00,000 |
6,00,000 |
|
Profit & Loss Account at 31 December 2008 |
6,00,000 |
3,00,000 |
|
Net Profit (Loss) 2009 |
3,60,000 |
(1,20,000) |
|
Net Profit 2010 |
1,20,000 |
1,80,000 |
|
Creditors |
3,00,000 |
1,20,000 |
|
25,80,000 |
10,80,000 |
|
|
Investments in S Ltd. as Cost |
7,80,000 |
— |
|
Other Assets |
18,00,000 |
10,80,000 |
|
25,80,000 |
10,80,000 |
On 31 December 2008, H Ltd. acquired 36,000 shares in S Ltd. for Rs.6,00,000. On 31 December 2009, it acquired a further 12,000 shares for Rs.1,80,000.
No dividends have been paid or proposed by either company in relevant years. Prepare a consolidated balance sheet of the group as at 31 December 2010.