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 |