From the following balance sheet of H Ltd and S Ltd., prepare a consolidated balance sheet of H Shares were acquired by H Ltd. in S Ltd. on 30 June 2010. S Ltd. transferred Rs.3,000 from profits to reserve on 31 December 2010.

Balance Sheets as on 31 December 2010

Liabilities

H Ltd.

S Ltd.

Assets

H Ltd.

S Ltd.

Share of Rs. 1 Each

72,000

30,000

Sundry Assets

1,20,000

48,000

Reserve

30,000

6,000

Investment in Shares of 5

39,000

Ltd. (30,000 Shares)

P&L A/c

12,000

6,000

Creditors

45,000

6,000

1,59,000

48,000

1,59,000

48,000