Illustration 14: The following are the Balance Sheets of Good Ltd. and Bad Ltd. as on 31.03.2018: Good Ltd. (Rin crores) Bad Ltd. ( in crores) 25 5 Equity and Liabilities: Equity Share Capital: Authorised Issued and Subscribed Equity Shares of 10 each fully paid Other Equity Equity Unsecured loan from Good Ltd. 12 5 88 10 100 15 10 100 25 PPE at cost 80 40 60 34 20 6 Less: Depreciation Written down value Investments at Cost: 30 lakhs equity shares of 10.each of Bad Ltd. Long term loan to Bad Ltd. Current Asset: 3 - 10 200 134 (Less Current Liabilities) (-)133 67 (-)115 19 100 25 186 On that day Good Ltd. absorbed Bad Ltd. The Members of Bad Ltd. are to get one equity share of Good Ltd. issued at a premium of 2 per share for every five equity share held by them in Bad Ltd. The necessary approvals are obtained; You are asked to pass Journal entries in the books of the two companies to give effect to the above