Hari Limited (HL) acquired 90% shares of Shyam Limited (SL) on April 1, 2010 and the balance sheet of both the companies as on March 31, 2011 is as follows:

The profit and loss account of Shyam Limited has a credit balance of ₹6,000 on April 1, 2010. The fair value of sundry fixed assets on the date of acquisition is ₹1,00,000. Prepare consolidated financial statement as on March 31, 2011.

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Liabilities Share capital General reserve (as on April 1, 2010) Profit and loss a/c Sundry creditors Balance Sheet as on March 31, 2011 SL Assets 60,000 Sundry fixed assets 30,000 Investment in shares of HL 1,00,000 40,000 50,000 40,000 2,30,000 Shyam Limited (90% shares) 20,000 30,000 Current assets 1,40,000 HL 1,10,000 90,000 30,000 2,30,000 SL 1,30,000 10,000 1,40,000