From the following balance sheets, prepare a consolidated balance sheet of X Ltd. and its subsidiary Y Ltd. The interests of the minority shareholders of Y Ltd. are to be shown in the consolidated balance sheet.
Balance Sheet of X Ltd. and Its Subsidiary Y Ltd. as at 31 December 2010
|
Liabilities |
X |
Y |
Assets |
X |
Y |
|
Share Capital: |
|||||
|
4,00,000 |
320 |
– |
Land & |
304 |
– |
|
Shares of |
Buildings |
||||
|
Z 80 |
|||||
|
40,000 Shares of 380 Each |
– |
32 |
Plant & Machinery |
44.80 |
6.40 |
|
General |
160 |
– |
Shares in Y |
||
|
Reserve |
Ltd. 36,000 |
57.60 |
– |
||
|
Shares of |
|||||
|
Z 80 Each |
|||||
|
Creditors |
96 |
6.40 |
Stock |
96 |
16 |
|
P&L A/c |
32 |
48 |
Debtors |
64 |
22.40 |
|
Cash at Bank |
41.60 |
41.60 |
|||
|
608 |
86.40 |
608 |
86.40 |