Corporate Accounting Solved Question Papers Dibrugarh UniversityCorporate Accounting Solved Paper May 2018 (Old Course)COMMERCE (General/Speciality)Course: 203 (Corporate Accounting )The figures in the margin indicate full marks for the questionsFull Marks: 80Pass Marks: 24Time: 3 hours
1) Public Ltd. Companies cannot issue deferred shares.
2) Debentures holders are the creditors of the company.
3) Reduction of share capital is unlawful except when sanctioned by the court.
4) Liquidation is a _____ procedure by which the corporate life of a company is brought to an end.
(b) State whether the following statements are True or False: 1x4=4
1) Preference shares can be redeemed if they are fully paid-up. True
2) Interest on Sinking Fund Investment Account is credited to Profit and Loss Account. False, Sinking Fund A/c
3)For amalgamation, two or more companies are required to amalgamate themselves.True
4) A holding company is one that holds the whole of the share capital of another company. False
2. Write short notes on (any four): 4x4=16
a) Preliminary Expenses.
b) Redeemable Debenture.
c) Compulsory Winding-up. – out of syllabus
d) Cost of Control.
e) Purchase Consideration.
Ans: a) Preliminary Expenses: Expenses incurred to the formation of a company are called ‘Preliminary Expenses’. Preliminary expenses include the following: -
a) Expenses incurred in order to get the company registered.
b) Expenses incurred for the preparation, printing and issue of prospectus.
c) Cost of preliminary books and Common Seal.
d) Duty payable on Authorized Capital.
e) Underwriting Commission etc.
Preliminary Expenses are to be written off out Securities Premium Account or it may be written off out of the Profit & Loss A/c gradually over some period. The balance left of preliminary expenses is to be shown in the asset side of the balance sheet of the company under the heading of ‘Miscellaneous Expenditure’.
b) Redeemable Debentures: According to Sec. 2 (30) of the companies Act, 2013, debentures include “debenture stock, bonds and any other securities of a company evidencing a debt, whether constituting a charge on the assets of the company or not.” Debentures are debt instruments issued by a joint stock company. Amounts collected by way of debentures form part of the loan capital of a company. They are repayable after a fixed period. Debenture holders get interest on their debentures. They are creditors of the company. They do not get dividend. Only shareholders get dividend. These debentures are paid off or redeemed after the prescribed period.
d) Cost of Control: In practice the holding company may pay more or less than the net worth of the subsidiary company. If the holding company feels that a company the shares of which it wants to acquire enjoys considerable reputation or exceptionary favourable factor it may pay more than the paid up value of shares or net assets. The excess of acquisition price over net assets represents goodwill or cost of control. If on the other hand the acquisition price is less than the paid up value of shares the difference is again to the holding company & is known as capital reserve.
e) Purchase Consideration: Purchase Consideration refers to the consideration payable by the purchasing company to the vendor company for taking over the assets and liabilities of Vendor Company. Accounting Standard – 14 defines the term purchase consideration as the “aggregate of the shares and other securities issued and the payment made in the form of ach or other assets by the transferee company to the shareholders of the transferor company”. Although, purchase consideration refers to total payment made by purchasing company to the shareholders of Vendor Company, its calculation could be in different methods, as explained below:
a. Lump sum method
b. Net Assets method
c. Net Payment Method
CORPORATE ACCOUNTING SOLVED QUESTION PAPERS (2010 Till Date)
Also Read:
Also Read:
3. (a) Following are the Ledger balances of X Ltd. As on 31st March, 2018:
Ledger balances as on 31st March, 2018
Credit balances
|
Rs.
|
Debit balances
|
Rs.
|
Share Capital:
10000 Equity Shares of Rs. 100 each fully paid
4000, 6% Redeemable Preference Shares
of Rs. 100 each fully paid
Profit and Loss A/c
General Reserve
Securities Premium
Creditors
|
10,00,000
4,00,000
20,000
4,40,000
20,000
1,00,000
|
Sundry Assets
Bank Balance
|
12,20,000
7,60,000
|
19,80,000
|
19,80,000
|
On the above mentioned date, the company redeemed the preference shares at a premium of 5%. Show the Journal Entries and Prepare the Amended Balance Sheet. 8+4=12
Journal Entries
In the Books of X Ltd.
Particulars
|
L/F
|
Amount
Dr.
|
Amount
Cr.
|
6% Redeemable Preference Share Capital A/c Dr.
Premium on redemption A/c (3,00,000 x 5%) Dr.
To Preference Shareholders A/c
(Being the Preference Share due for redemption at a premium of 5%.)
|
4,00,000
20,000
|
4,20,000
| |
Profit and Loss Account Dr.
General Reserve A/c Dr.
To Capital Redemption Reserve A/c
(Being the amount of preference share capital redeemed out of profit is transferred to CRR.)
|
20,000
3,80,000
|
4,00,000
| |
Securities Premium Reserve A/c Dr.
To Premium on redemption A/c
(Being the premium on redemption adjusted with securities premium.)
|
20,000
|
20,000
| |
Preference Shareholders A/c Dr.
To Bank A/c
(Being the final payment made to Preference shareholders.)
|
4,20,000
|
4,20,000
|
Balance Sheet of X Ltd
Particulars
|
Amount (Rs.)
|
I. Equity & Liabilities:
A) Shareholder’s Fund
1) Share Capital : 10,000 Equity shares of Rs.100 each
2) Reserve & Surplus:
General Reserve (4,40,000 – 3,80,000)
Capital Redemption reserve
B) Non-Current Liabilities
C) Current Liabilities:
Trade Payable (Creditors)
|
10,00,000
60,000
4,00,000
Nil
1,00,000
|
Total (A+B+C)
|
15,60,000
|
II. Assets:
A) Non-Current Assets
Fixed Assets:
Tangible (Sundry Assets)
B) Current Assets:
Cash and cash equivalents (7,60,000 – 4,20,000)
|
12,20,000
3,40000
|
Total (A+B)
|
15,40,000
|
Or
(b) Give a brief description of the books of accounts and registers which are to be maintained by a company as per the Companies Act, 2013. 7+5=12
Ans: Books of Accounts to be maintained by a Company
Section 128 of the Companies Act, 2013 requires that every company shall prepare and keep at its registered office books of accounts and other relevant books and papers and financial statements for every financial year which give a true and fair view of the state of affairs of the company, including that of its branch office or offices, if any, and explain the transactions effected both at the registered office and its branches and such book will be kept on accrual basis and according to the double entry system of accounting. All or any of the books of account aforesaid and other relevant papers may be kept at such other place in India as the Board of Directors may decide and where such a decision is taken, the company shall, within seven days thereof, file with the Registrar a notice in writing giving full address of that other place.
The company may keep such books of account or other relevant papers in electronic mode in such manner as may be prescribed. The books of account and other books and papers maintained by the company within India shall be open for inspection at the registered office of the company. The books of account of every company relating to a period of not less than eight financial years immediately preceding a financial year, or where the company had been in existence for a period less than eight years, in respect of all the preceding years together with the vouchers relevant to any entry in such books of account shall be kept in good order.
Section 129 of the Companies Act, 2013 requires that the financial statements shall give a true and fair view of the state of affairs of the company or companies, comply with the accounting standards under Section 133 and shall be in the form or forms as may be provided for different class or classes of companies in Schedule III.
Where a company has one or more subsidiaries, it shall in addition to its financial statements, prepare a consolidated financial statements of the company and of all the subsidiaries in the same form and manner as that of its own which shall also be laid before the annual general meeting of the company along with the laying of its financial statements.
It is further stated that the books of account should be maintained on accrual basis and according to the double entry system of accounting to ensure that these represent true and fair view of the affairs of the company or branch office, as the case may be. The Act requires that proper stock records should form a necessary part of proper books of account and also that the books of account and the relevant vouchers must be preserved for a minimum period of eight years in good order.
Statutory and Statistical Books Maintained by Company:
Statutory book: Such books are those which a limited company is under statutory obligation to maintain at its registered office with a view to safeguard the interests of shareholders and creditors. Main statutory books are:
1. Register of investments held and their names
2. Register of charges
3. Register of members
4. Register of debenture holders
5. Annual returns
6. Minute books
7. Register of contracts
8. Register of directors
9. Register of director’s shareholdings
10. Register of loans to companies under the same management
10. Register of loans to companies under the same management
11. Register of investment in the shares and debentures of other companies
12. Register of fixed deposits
13. Index of members where the number is more than fifty unless register of members itself affords an index
14. Index of debenture holders where the number is more than fifty, unless the register of debenture holders itself affords an index
15. Foreign register of members and debenture holders, if any
16. Register of renewed and duplicate certificates.
Statistical Books:
In order to keep a complete record of numerous details of certain transactions and activities of the company the following statistical books are usually maintained by joint stock companies in addition to statutory books. The keeping of such books are optional. The main books are:
1. Share application and allotment book
2. Share calls book
3. Share certificate book
4. Debenture application and allotment book
5. Debenture calls book
6. Register of share transfers
7. Dividend book
8. Debenture interest book
9. Register of documents sealed
10. Register of share warrants
11. Dividend mandates register
12. Register of debenture transfers
13. Register of powers of attorney
14. Agenda book
15. Register of lost share certificates
16. Register of director’s Attendance
4. (a) (1) What do you mean by ‘buy-back of shares’? State the legal provisions relating to buy-back of shares. 2+3=5
Ans: Out of Syllabus
(2) Distinguish between debentures and shares. 6
Ans: Difference between Shares and Debentures
Basis of Difference
|
Shares
|
Debentures
|
1. Ownership
|
Shareholders are the owners of the Company.
|
Debenture holders are the Creditors of the Company.
|
2. Repayment
|
Normally, the amount of share is not returned during the life of the company.
|
Debentures are issued for a definite period.
|
3. Convertibility
|
Shares cannot be converted into debentures.
|
Debentures can be converted into shares.
|
4. Restrictions
|
There are legal restrictions to be fulfilled to issue shares at a discount.
|
There are no restrictions on the issue of debentures at a discount.
|
5. Purchase
|
A company can buy back its own shares, but subject to fulfillment of stipulated conditions.
|
A Company can purchase its own debentures from the market without any conditions.
|
6. Forfeiture
|
Shares can be forfeited for non-payment of allotment and call monies.
|
Debentures cannot be forfeited for non-payment of call monies.
|
7. Payment of dividend/ Interest
|
Shareholders will get dividend which is dependent on the profits of the company.
|
Debenture holders will get interest on debentures and will be paid in all circumstances, whether there is profit or loss.
|
Or
(b) On 1st April, 2017, the following balances appeared in the books of J. K. Company Ltd.:
Rs.
| |
12% Debentures
Sinking Fund
Sinking Fund Investment
|
20,00,000
16,00,000
16,00,000
|
The investment consisted of 8% Government Securities of the face value of Rs. 17,00,000. The annual investment to sinking fund was Rs. 2,64,000. The bank balance on 31st March, 2018 was Rs. 5,60,000 (after receipt of interest on sinking fund investment). Investments realized 93% and debentures were redeemed. Show all necessary Ledger Accounts. 11
Sinking Fund Investment Account
Date
|
Particulars
|
Amount
|
Date
|
Particulars
|
Amount
|
1-4-2017
|
To Balance B/d
(Face Value = 17,00,000)
|
16,00,000
|
31-3-2018
|
By Bank A/c
(93% of face value)
By Sinking fund A/c
|
15,81,000
19,000
|
16,00,000
|
16,00,000
|
Sinking Fund Account
Date
|
Particulars
|
Amount
|
Date
|
Particulars
|
Amount
|
31-3-2018
|
To General Reserve A/c
|
20,00,000
|
1-4-2017
31-3-2018
31-3-2018
|
By Balance B/d
By Surplus A/c
By Interest on sinking fund A/c
|
16,00,000
2,64,000
1,36,000
|
20,00,000
|
20,00,000
|
12% Debentures Account
Date
|
Particulars
|
Amount
|
Date
|
Particulars
|
Amount
|
31-3-2018
|
To Bank A/c
|
20,00,000
|
1-4-2017
|
By Balance B/d
|
20,00,000
|
20,00,000
|
20,00,000
|
Bank
Date
|
Particulars
|
Amount
|
Date
|
Particulars
|
Amount
|
1-4-2017
31-3-2018
|
To Balance B/d
To Sinking Fund Investment A/c
|
5,60,000
15,81,000
|
31-3-2018
31-3-2018
|
By Debentures A/c
By Balance C/d
|
20,00,000
1,41,000
|
21,41,000
|
21,41,000
|
5. (a) Explain the various provisions of alteration and capital reduction of share capital as given in the Companies Act, 1956 with examples. 11
Ans: Forms of Internal reconstruction of a company (Scope of Internal reconstruction)
Internal reconstruction of a company can be carried out in the following different ways. These are as under:
(A) Alteration of Share Capital; and
(B) Reduction in Share Capital
Alteration of Share Capital: Memorandum of Association contains capital clause of a company. Under Section 61 of the Companies Act 2013, a company, limited by shares, can alter this capital clause, if is permitted by (i) the Articles of Association of the company; and (ii) if a resolution to this effect is passed by the company in the general meeting. A company can alter share capital in any of the following ways:
(a) The company may increase its capital by issuing new shares.
(b) It may consolidate the whole or any part of its share capital into shares of larger amount.
(c) It may convert shares into stock or vice versa.
(d) It may sub-divide the whole or any part of its share capital into shares of smaller amount.
(e) It may cancel those shares which have not been taken up and reduce its capital accordingly.
To alter capital by any of the above modes require a resolution at a general meeting, but does not require confirmation by the National Company Law Tribunal. The company is required to give a notice to the Registrar within thirty days of alteration.
The accounting treatment of the above five types of capital alteration is discussed below.
(a) If the company has issued all of its authorised capital, then, for the purpose of raising fund by the issue of fresh shares, it will have to increase its authorised capital first. For increasing the authorised capital, the Capital clause of Memorandum of Association of the company is required to be altered and permission of S.E.B.I. is also required to be obtained. No accounting entry is necessary for increasing authorised share capital. The company will have to observe the formalities prescribed under the Companies Act, 2013.
(b) The company may decide to change the shares of smaller denomination into larger denomination. This process is called consolidation of shares. On account of consolidation, the total amount of capital of the company will not change but the number of shares will decrease.
(c) A company, in order to alter its share capital, may convert all or any of its fully paid up shares into Stock or Stock into fully paid up shares. In case, shares are converted into Stock, the members get a part of Stock Capital in place of shares. By converting Shares into Stock, any amount of Stock Capital can be transferred to any other person.
(d) When the shares of a company are sub-divided in shares of small value, it is known as sub-division of shares. In sub-division of shares, the face value of a share is converted into smaller denomination from larger denomination. The total capital of the company remains unaffected by sub-division but the total number of shares increase.
(e) Cancellation of capital may take the following form:
(i) Cancellation of unissued capital; and
(ii) Cancellation of uncalled capital.
(i) Cancellation of unissued capital: Cancellation of unissued capital means cancellation of unissued shares by a company. It means that the part of the authorised capital which has not yet been issued to the public may be cancelled by the company.
(ii) Cancellation of uncalled capital: Cancellation of uncalled capital means cancellation of that part of the face value of the share which has not yet been called by the company.
Reduction of Capital: Reduction of share capital is regarded as one of the process of decreasing company’s share capital. The Reduction of Share Capital means reduction of issued, subscribed and paid up share capital of the company. In simple words it can be regarded as ‘Cancellation of Uncalled Capital’ i.e. part of subscribed share capital.
The need of reducing share capital may arise in various situations, few are listed below:
1) Returning of surplus to shareholders;
2) Eliminating losses, which may be preventing the payment of dividends;
3) May be as part of scheme of compromise or arrangements;
4) To simply capital structure;
This power is, given by Section 66 of the Companies Act, 2013, subject to the compliance of conditions. According to this, a company may,
(1) Extinguish or reduce the liability on any of its shares in respect of share capital not paid up
(2) cancel any paid-up share capital which is lost or is unrepresented by any available assets;
(3) pay off any paid-up share capital which is in excess of what is required by the company.
Conditions for effecting reduction of capital
Following conditions are required to be fulfilled by a company to reduce its share capital –
1. A company constituted with limited liability by shares or guarantee and having share capital is alone entitled to reduce its liability of members.
2. It should have the power under its Articles of Association to do so. If the articles do not contain any provision for reduction of capital, the articles must first be altered so as to give such power.
3. Reduction is regarded as internal restructuring of company, therefore decision of majority will prevail by way of special resolution.
4. The reduction effected by such resolution must be confirmed by the National Company Law Tribunal (‘Tribunal’)
5. No capital reduction can be undertaken if the company is in arrears in the repayment of any deposits (including interest payable thereon) accepted by it.
6. Reduction takes effect on registration of the documents with the Registrar of Companies.
7. Reduction is different from Diminution of shares which is regarded as cancellation of unsubscribed share capital.
8. Nothing in this section shall apply to buy back of its own securities u/s 68 of the Companies Act, 2013
9. Offenses under this section are compoundable under section 441 of the Companies Act, 2013.
10. After capital reduction, the word “And Reduced” in Balance sheet of the company.
Or
(b) A Ltd. And B Ltd. Decided to amalgamate and a new company named AB Ltd. is formed to take over both the companies as on 31st March, 2018. The following are the Ledger balances of the companies as on that date:
Credit Balances
|
A Ltd.
|
B Ltd.
|
Debit Balances
|
A Ltd.
|
B Ltd.
|
Share Capital:
(Shares of Rs. 10 each Fully paid-up)
Reserve Fund
Profit & Loss A/c
Dividend Equalization Fund
Workmen Compensation Fund
Bank Overdraft
Sundry Creditors
Bills Payable
|
5,00,000
2,00,000
30,000
-
20,000
-
90,000
50,000
|
3,00,000
1,50,000
50,000
1,00,000
-
50,000
1,10,000
30,000
|
Goodwill
Land and Buildings
Plant and Machinery
Patents and Trade Mark
Stock
Sundry Debtors
Bills Receivables
Cast at Bank
|
1,00,000
2,50,000
2,00,000
-
2,00,000
90,000
-
50,000
|
80,000
1,90,000
2,55,000
52,500
1,50,000
40,000
20,000
2,500
|
8,90,000
|
7,90,000
|
8,90,000
|
7,90,000
|
Pass Journal Entries and prepare the Balance Sheet of AB Ltd. Assuming that amalgamation is done in the nature of purchase. 6+5=11
Solution: Refer Question No. 4 of 2014 Semester Exam
6. (a) What do you mean by preferential creditors? State the rank of preferences to be followed by the liquidator while preparing the final statement of accounts. 3+8=11
Ans: Out of Syllabus
Or
(b) ABC Ltd. Went into voluntary liquidation on 31st March, 2018. The position of the company on that date was as follows: Out of syllabus
Rs.
| |
Share Capital:
5000 Equity Shares of Rs. 10 each Rs. 8 per share called-up
Unsecured Creditors:
Preferential 5,000
Non-Preferential 25,000
Secured Creditors
(Secured on Plant & Machinery)
Cash in Hand
|
40,000
30,000
15,000
1,000
|
Plant & Machinery finally realized Rs. 10,000 and other assets realized Rs. 10,000. The liquidation expenses amounted to Rs. 500 and the liquidator was entitled to a remuneration of 5% on the amount realized excepting cash in hand and 2% on the amount distributed to the unsecured creditors. Prepare the Liquidator’s Final Statement of Account showing the percentage of distribution finally made to unsecured creditors. 11
7. (a) (1) Distinguish between Holding company and Subsidiary company. 5
Ans: Meaning of Holding and Subsidiary Company
An important development of recent times in the business world is the combining of independent business units into a group or an economic unit. A company may acquire either the whole or majority of shares of another company so as to have a controlling interest in such a company or companies. The controlling company is known as Holding or Parent Company and the company controlled is known as Subsidiary Company.
Holding Company: As per Section 2(46) “holding company”, in relation to one or more other companies, means a company of which such companies are subsidiary companies. According to this section, one company can become the holding company of another in any of the following three ways:
1. By holding more than ½ of voting power in the subsidiary company.
2. By controlling the composition of the Board of Directors of the other company so that the holding company is able to appoint or remove the directors of the subsidiary company.
3. By controlling a holding company which controls another subsidiary or subsidiaries. For example, if B Ltd is a Subsidiary of C Ltd & C Ltd is a subsidiary of A Ltd then B Ltd is also deemed to be a subsidiary of A Ltd.
Meaning of “subsidiary Company”
As per Section 2(87) of the Companies Act, 2013, a company is a “subsidiary company” of another company, i .e. “holding company”, if that other company:
1. holds more than ½ of the voting rights in it, or
2. is a member of it and has the right to appoint or remove a majority of its board of directors, or
3. is a member of it and controls alone, pursuant to an agreement with other members, a majority of the voting rights in it, or if it is a subsidiary of a company that is itself a subsidiary of that other company.
(2) Mention three advantages and three disadvantages of holding company. 3+3=6
Ans: Advantages of Holding Company: Following are the important advantages of holding company:
a) Easy Formation: The holding company can be formed very easily. There is no legal formality. Any company may purchase the majority shares from stock exchange and can become holding company.
b) Large Business: A holding company can collect the capital and expand the business on large scale.
c) Foreign Capital: The holding company may also attract the foreign capital for the expansion of a business.
d) A Stable Combination: The holding company is a very stable form of business organization. Its life is not affected by the disagreement of subsidiary company.
e) Goodwill: When the goodwill of the holding company is established in the market, it also improves the goodwill of its subsidiary company before the public.
f) Separate Position: The subsidiary companies can maintain their separate position under this system. They do not lose their identity.
g) Control on Production: A holding company can check the production and adjusts the supply according the demand. So over production cannot take place.
Disadvantages or Defects of Holding Company: Following are the main defects of the holding company:
a) Problem of Monopoly: A holding company tries to create monopoly over the market. Monopoly is always against the public interest. It fixes higher prices and consumer suffers a loss.
a) Problem of Monopoly: A holding company tries to create monopoly over the market. Monopoly is always against the public interest. It fixes higher prices and consumer suffers a loss.
b) Unequal Distribution of Wealth: Due to holding companies wealth goes in few hands and society is divided into two classes, rich and poor. Rich class enjoys all the amenities of life while poor class faces poverty and hunger.
c) Costly Management: A holding company spends a lot of money on the officers and offices. All the units are managed by the central authority. So it is costly to maintain the proper control on large number subsidiary companies.
d) Minority Interest Ignored: The interest of the minority shareholders is ignored and the members of the holding company dispose of every resolution for their own interest.
e) Misuse of Funds: The director of the company enjoys unlimited powers and they take undue advantages. They misuse the funds also.
f) Over Capitalization: There is always a danger of over capitalization in the holding companies. It is very harmful for both the companies.
g) False Reports: Generally the directors of the company present false reports about the company's financial position. The true condition of the company nobody knows, and due to this sometimes creditors suffer a loss.
Or
(b) H Ltd. Acquired 4000 shares of S Ltd. As on 1st April, 2017. Their ledger balances as on 31st March, 2018 stood as follows:
Ledger balances
As on 31st March, 2018
Credit Balances
|
H Ltd.
Rs.
|
S Ltd.
Rs.
|
Debit Balances
|
H Ltd.
Rs.
|
S Ltd.
Rs.
|
Share Capital:
(10000 Equity Shares of Rs. 10 each fully paid
5000 Equity shares of Rs. 10 each fully paid
Profit and Loss A/c
Creditors
|
1,00,000
-
40,000
40,000
|
-
50,000
10,000
20,000
|
Fixed Assets
Investment:
4000 Equity Shares of S Ltd. At Rs. 12.50 each.
Current Assets
|
1,00,000
50,000
30,000
|
60,000
-
20,000
|
1,80,000
|
80,000
|
1,80,000
|
80,000
|
On 1st April, 2017, the Profit and Loss A/c on S Ltd. Showed a loss of Rs. 15,000 which was written off out of profit earned in 2017-18.
Prepare a Consolidated Balance Sheet as on 31st March, 2018. Show your working notes clearly. 11
Ans: Degree of Control:
H. Ltd. 80%
S. Ltd 20%
1. Control Chart A:
Particulars
|
Total
|
H. Ltd
|
S. Ltd
|
1. Pre-acquisition Profit:
Profit and Loss Account
2. Post-acquisition Profit
Profit and loss account (10,000+15,000)
3. Share Capital
|
(15,000)
25,000
50,000
|
(12,000)
20,000
40,000
|
(3,000)
5,000
10,000
|
Minority Interest
|
12,000
|
2. Control Chart B:
Particulars
|
Amount (Rs.)
|
Cost of Investment
Less: (i) H Ltd. shares in Pre-acquisition Profit
(ii) H Ltd. shares in Share Capital
|
50,000
(12,000)
40,000
|
Capital Reserve
|
22,000
|
3. Control Chart C:
Particulars
|
Fixed Assets
|
Current Assets
|
Creditors
|
H Ltd.
S Ltd.
|
1,00,000
60,000
|
30,000
20,000
|
40,000
20,000
|
1,60,000
|
50,000
|
60,000
|
Consolidated Balance Sheet of H Ltd. & S Ltd
Particulars
|
Amount (Rs.)
|
I. Equity & Liabilities:
a) Shareholder’s Fund
Share Capital
Reserve & Surplus
Surplus 40,000
Add: Revenue Profit 20,000
b) Minority Interest
c) Non-Current Liabilities
d) Current Liabilities:
Trade Payable (Creditors)
|
1,00,000
60,000
12,000
Nil
60,000
|
Total (a + b + c + d)
|
2,32,000
|
II. Assets:
a) Non-Current Assets
Fixed Assets: Tangible
Intangible (Goodwill)
b) Current Assets:
| 
1,60,000
22,000
50,000
|
Total (a + b)
|
10,40,000
|
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