Question

I EQUITY & LIABILITIES :
Shareholder's Fund :
Share capital 1,00,000 60,000
Reserve and surplus :
General reserve (1.4.2019) 40,000 30,000 Statement of P & L – Surplus 50,000 20,000 Current Liabilities :
Trade Payables 40,000 30,000
2,30,000 1,40,000.

II ASSETS :
Sundry assets 1,30,000 1,40,000
Shares in S. Ltd. at cost 1,00,000 — ..
2,30,000 1,40,000
The profit and loss of S. Ltd. had a credit balance of ` 3,000 on 1.4.2019. The profits of S. Ltd. accrued evenly through the year. Prepare consolidated balance sheet as at 31st March, 2020.​

Answer 1

ASSETS :

Sundry assets 1,30,000 1,40,000

Shares in S. Ltd. at cost 1,00,000 — ..

2,30,000 1,40,000

The profit and loss of S. Ltd. had a credit balance of ` 3,000 on 1.4.2019. The profits of S. Ltd. accrued evenly through the year. Prepare consolidated balance sheet as at 31st March, 2020.

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