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I need the answer as soon as possible H Lid 5.000 On 31st March, 2017, the abridged Balance Sheets of H Ltd. and S Ltd.
I need the answer as soon as possible
H Lid 5.000 On 31st March, 2017, the abridged Balance Sheets of H Ltd. and S Ltd. stood as follows: S Lid. (in 000's)(2 in 000's) Liabilities Equity Share Capital - Authorised 3.000 Issued and subscribed Equity Shares of 10 each fully paid 4,000 2.400 General Reserve 928 690 Profit and Loss Account 1,305 810 Trade payables 611 507 Provision for Taxation 220 180 Other Provisions __65 11 Following Additional Information is avadable: (a) H Ltd. purchased 90 thousand Equity Shares in S Ltd. on 1st April, 2016 at which date the following balances stood in the books of S Ltd. General Reserve 1,500 thousand: Profit and Loss Account 2633 thousand. (b) On 14th July, 2016 S Ltd. declared a dividend of 20% out of pre-acquisition profits and paid corporate dividend tax @ 15% which becomes 17.304% after including surcharge. H Ltd. credited the dividend received to its Profit and Loss Account (c) On 1st November, 2016, S Ltd. issued 3 fully paid Equity Shares of 10 each, for every 5 shares held as bonus shares out of pre-acquisition General Reserve. (d) On 31st March, 2017, the Inventory of S Ltd. included goods purchased for 750 thousand from H Ltd., which had made a profit of 25% on Cost. (e) Details of Trade payables and Trade receivables: H Ltd. S Lid. (in 000's) in 000's) Trade payables Bills Payable 124 80 Sundry creditors 487 427 611 507 Trade receivables Debtors 700 683 Bills Receivables 120 95 820 778 Prepare a consolidated Balance Sheet as on 31 March, 2017 Z.129 4.604 2.450 298 Assets: Plant and Machinery Furniture and Fittings Investment in the Equity Shares of S Lid. Inventory Trade receivables Cash and Bank Balances Sundry Advances 2541 615 1,500 983 820 410 260 7.129 786 778 102 190 4.604Step by Step Solution
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