a22 Illustration - 23 Given below Balance sheets of X I.imited and Y Limited as at 31.3.2009, X Ltd. Rs. in Lakhs YLtd. Rs. in Lakhs 500 300 Sources of Funds Shareholders' funds Equity Shares of Rs. 100 each Reserves and surplus General Reserve Profit and Loss A/c Loan Funds Secured Loans Unsecured Loans 200 100 100 100 300 100 1,200 200 100 800 800 Applications of Funds: Fixed Assets Gross block Lees: Depreciation Net block Investments - in 2.4 lakhs shares of Y Ltd. Others Current assets, Loans and Advances Less: Current liabilities Net Current assets 600 (150) 450 (200) 600 300 100 400 (100) 400 (150) 250 300 1,200 800 X Ltd. agreed to take over all the assets and liabilities of Y Ltd. at book value and discharge the claims of minority shareholders by issuing its one share for every two shares held. Minorities claims are to be discharged on the basis of intrinsic value per share. For computing intrinsic value per share net Fixed as sets of Y Ltd are to be valued at Rs. 850 Lakhs. Prepare post merger Balance Sheet of X Ltd. Show all your workings