Balance sheets of two companies as on 31 March 2011 are given as follows:
|
Liabilities |
H Ltd. |
S Ltd. |
Assets |
H Ltd. |
S Ltd. |
|
Share Capital: |
4,000 |
2,000 |
Fixed Assets |
1,920 |
1,000 |
|
Reserves |
400 |
680 |
Stocks |
1,680 |
1,600 |
|
Profit & Loss A/c |
640 |
520 |
Debtors |
1,200 |
1,400 |
|
Current Liabilities |
1,760 |
800 |
Investments in Shares of 5 |
2,000 |
– |
|
6,800 |
4,000 |
6,800 |
4,000 |
Other information:
- H Ltd. acquired 60% shares of S Ltd. on 1 July 2010
- Reserves and profit and loss A/c of S Ltd. on 1 April 2010 had balances of Rs.10,00,000 and Rs.4,80,000, respectively.
S Ltd. had issued bonus shares out of its reserves in the ratio of 1:4 on 1 October 2010. - No entry has been made in the books of H Ltd. for this.
- S Ltd. also paid dividend @ 25% on its capital of Rs.16,00,000 pre-acquisition profits on 1 October 2010 which were recorded by H Ltd. Prepare consolidated balance sheet of H Ltd. and S Ltd.