Balance Sheets of H Ltd and S Ltd at 31 December 2011 (Note: $000s omitted)

H Ltd S Ltd

Share Capital 160 60

6% Preference Share 20 -

Reserves 40 48

Debentures 20 40

Bills Payable 20 -

Creditors 20 18

280 166

Fixed Assets 120 86

Investments in S Ltd 118 -

Debentures in S Ltd 20 -

Debtors 10 20

Stock 10 20

Bills Receivable - 20

Bank 2 20

280 166

Notes

H Ltd owns 45,000 shares in S Ltd acquired at 1 January 2011 when S Ltds reserves were 36,000.

The Closing stock of H Ltd includes goods to the value of 3,000 transferred from S Ltd at cost plus 100%.

Bills receivable and payable are drawn by S Ltd and H Ltd.

Debtors and creditors include 2,000 owed by H Ltd for goods supplied.

Required

Prepare a Consolidated Balance Sheet showing Goodwill & Minority Interest if applicable.