- Q 10 The Following Are The Balance Sheets Of Two Companies As On 31st March 2011 Balance Sheets As On 31st March 2011 1 (57.25 KiB) Viewed 34 times
1496000, I want to know how to solve this question.
Q.10 The following are the Balance Sheets of two companies as on 31st March, 2011: Balance Sheets as on 31st March, 2011 AB Ltd. Rs. CD Ltd. Rs. Liabilities Equity Share Capital: Shares of Rs. 10 each General Reserve on 1-4-2010 Profit and Loss A/c on 1-4-2010 Profit for the year 2010-11 Sundry Creditors Bills Payable Total 10,00,000 1,00,000 50,000 60,000 70,000 10.000 12.90.000 5,00,000 1,00,000 30,000 40,000 50,000 5.000 7.25.000 Assets AB Ltd. Rs. CD Ltd. Rs. 2,00,000 3,00,000 1,50,000 3,00,000 Fixed Assets: Land and Building Machinery Current Assets: Stock Sundry Debtors Investment at Cost Shares in CD Ltd. Bills Receivable Cash at Bank Total 50,000 60,000 75,000 50,000 5,00,000 10,000 1.55.000 12,90,000 5,000 160.000 7,25,000 AB Ltd. acquired 40,000 equity shares of CD Ltd. On 1st April, 2010. (2) Bills Receivable of AB Ltd. includes Rs. 3,000 accepted by CD Ltd. (3) Sundry debtors of AB Ltd. include Rs. 10,000 due from CD Ltd. (4) Stock of CD Ltd. includes goods purchased from AB Ltd. for Rs. 30,000 which were invoiced by AB Ltd. at profit of 25% on the invoice price. Prepare a consolidated Balance Sheet of AB Ltd. and its subsidiary CD Ltd. as on 31st March, 2011, giving the necessary workings.(B/S TOTAL 1496,000)