Model: More than one subsidiary companies’ cross holdings The following are the balance sheets of H Ltd., A Ltd. and B Ltd., as on 31 December 2010:
|
Particulars |
H Ltd. |
A Ltd. |
B Ltd. |
|
Liabilities: |
|||
|
Share Capital |
30,00,000 |
6,00,000 |
3,00,000 |
|
Reserves |
3,00,000 |
1,80,000 |
1,80,000 |
|
P&L A/c |
12,00,000 |
3,60,000 |
1,80,000 |
|
Creditors |
6,00,000 |
3,60,000 |
1,80,000 |
|
Bills Payable |
90,000 |
||
|
51,00,000 |
15,90,000 |
8,40,000 |
|
|
Assets: |
|||
|
Sundry Assets |
24,00,000 |
3,60,000 |
3,00,000 |
|
Stock |
18,30,000 |
5,40,000 |
3,00,000 |
|
Debtors |
3,90,000 |
5,10,000 |
2,40,000 |
|
Bills Receivable from A Ltd. |
30,000 |
||
|
Shares in .A Ltd. |
4,50,000 |
||
|
Shares in 3 Ltd. |
1,80,000 |
||
|
51,00,000 |
15,90,000 |
8,40,000 |
H Ltd. purchased 80% of shares in A Ltd. when the latter’s P&L A/c was Rs.2,40,000 and reserve was Rs.1,20,000. A Ltd. purchased 75% of shares in B Ltd. when the latter’s P&L A/c was Rs.1,20,000 and reserve was Rs.60,000. Prepare consolidated balance sheets of H Ltd. and its subsidiaries A Ltd. and B Ltd. as on 31 December 2010 together units consolidation schedules.