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.