From the following details, prepare a consolidated balance sheet of H Ltd. and its subsidiary S Ltd. as on 31 December 2010.
|
Liabilities |
H Ltd. |
S Ltd. |
Assets |
H Ltd. |
S Ltd. |
|
Share Capital: |
Buildings |
2,90,000 |
1,00,000 |
||
|
Shares of 310 Each |
4,00,000 |
1,20,000 |
Plant |
1,20,000 |
50,000 |
|
General Reserve |
1,00,000 |
30,000 |
Stock |
80,000 |
20,000 |
|
Profit & Loss A/c |
50,000 |
42,000 |
Debtors |
70,000 |
30,000 |
|
16% Debentures |
1,40,000 |
– |
Bills Receivable |
30,000 |
20,000 |
|
Creditors |
30,000 |
20,000 |
Bank |
20,000 |
10,000 |
|
Bills Payable |
10,000 |
18,000 |
Investment in S Ltd. (2,000 |
1,20,000 |
– |
|
Shares) |
|||||
|
7,30,000 |
2,30,000 |
7,30,000 |
2,30,000 |
On the date of acquisition of shares by H Ltd. in S Ltd., the latter had undistributed profits of Rs.18,000 and reserve of Rs.12,000. The values of buildings and plant of S Ltd. were considered as Rs.1,30,000 and Rs.32,000, respectively. No purchase or sale of these assets after the acquisition of shares. Depreciation may be ignored. Debtors of H Ltd. include Rs.10,000 due from S Ltd. and also bills payable of H Ltd. includes a bill of Rs.6,000 accepted in favour of S Ltd.