The following are the Balance sheets of H.Ltd and S. Ltd on 31.12.2004
Liabilities
H Ltd
S Ltd
Assets
H Ltd
S Ltd
Rs.
Rs.
Rs.
Rs.
Share Capital:
Goodwill
30,000
20,000
Shares of Rs. 10 each
6,00,000
2,50,000
Fixed Assets
5,80,000
2,00,000
General reserve
1,60,000
95,000
Stock
1,60,000
80,000
Profit for the year
2,20,000
1,20,000
Investments in15,000 shares of ‘S’ Ltd
2,00,000
-
Bill payable
20,000
-
Bills receivable
-
15,000
Sundry creditors
1,00,000
35,000
Sundry debtors
80,000
1,15,000
Cash in hand
50,000
70,000
11,00,000
Answers
Answer:
he following are the Balance sheets of H.Ltd and S. Ltd on 31.12.2004
Liabilities H Ltd S Ltd
Assets
H Ltd
S Ltd
Rs.
Rs.
Rs.
Rs.
Share
Goodwill
30,000 20,000
Capital:
Shares of 6,00,000 2,50,000 Fixed Assets
5,80,000 2,00,000
Rs. 10 each
General
1,60,000 95,000 Stock
1,60,000 80,000
reserve
Profit for the 2,20,000 1,20,000 Investments
year
in 15,000 shares
of 'S' Ltd
2,00,000
Bill payable 20,000
Bills receivable
15,000
Sundry
1,00,000 35,000 Sundry debtors
80,000 1,15,000
creditors
Cash in hand
50,000 70,000
11,00,000 5,00,000
11,00,000 5,00,000
a) H Ltd., acquired the shares of s Ltd on 1.9.2004
b) Bills payable of H Ltd was contolly in favour of S Ltd.
c) Debtors of S Ltd., include Rs. 15,000 owed by H Ltd.
d) Stock of H Ltd., includes Rs. 10,000 worth of goods bought from S Ltd. On
which the latter company has made a profit of 25% on cost.
Prepare the Consolidated Balance Sheet.
ADD ANSWER
Log in to add comment
harih73 is waiting for your help.
Add your answer and earn points.
Thank your teacher & they could win INR75K.
Voting ends 2/10!
NOMINATE NOW
Partner:
prosus logo
Still have questions?
ASK YOUR QUESTION
FIND MORE ANSWERS
New questions in Accountancy
purchase of assets for 50,000 on cash will affected on which account : 50,000
3: Accounting Vouchers are prepared for ...........ਲੇਖਾ ਵੋਚਰ ••••••••• ਲਈ ਤਿਆਰ ਕੀਤੇ ਜਾਂਦੇ ਹਨ । लेखा वाउचर _________ के लिए तैयार किए जाते हैं *A. Cash …
The Indian Aviation Industry - Current Scenario: It is a phase of rapid growth in the industry due to huge build-up of capacity in the LCC space, with …
2. DopositedintoBank RS. 1.0003. Goods purchasedPor Cash RS, 800for bank for offic4. withdrawformwork Rs - 1005. Credite Sale totrishnaRs. 150o Credit …
Which two accounts are involved in contra entry : ਦੋ ਪੱਖੀ ਐਂਟਰੀ ਵਿੱਚ ਜੋ ਦੋ ਖਾਤੇ ਸ਼ਾਮਿਲ ਹਨ : विपरीत लेखे में दो खाते शामिल होंगे : *
gst means:GSTराठव:GST का अर्थ है:
journal entry for interest on drawings
The following are the Balance sheets of H.Ltd and S. Ltd on 31.12.2004LiabilitiesH LtdS LtdAssetsH LtdS LtdRs.Rs.Rs.Rs.Share Capital:Goodwill30,00020, …
A Stratedbasat business with10,002 DopusitedintoBank R3. 7.0003. Goods purchasedPor Cash RS, 5004. withdrawformto bank for officeworkRs 100Salo to tri …
Ledger9.257. On 1st April, 2020, the following were Ledger balances of M/s Ram & Co., Delhi:Cash in Hand * 300; Cash at Bank 7.000: Bills Payable …