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Make Consolidated balance sheet [1.1] Harish Ltd. acquired 3D,l} shares in Sheets] Ltd. on [HApril 2'31? at a total cost of Rs.4,,. The Balance sheets

Make Consolidated balance sheet

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[1.1] Harish Ltd. acquired 3D,l} shares in Sheets] Ltd. on [HApril 2'31? at a total cost of Rs.4,,. The Balance sheets as on 3 [5' March 2021!] of' both companies were as under. Balance sheet as on 31" March 2112!]. Share Capital [Equity shares ofRs. l l}; paid) Reserves and Surplus General Reserve Prot and Loss Account Current Liabilities Creditors Assets Land and building 6,00,000 2,10,000 Plant and Machinery 2,00,000 1,70,000 Debtors 3,00,000 90,000 Stock in trade 2,00,000 1,40,000 Investment 4,00,000 Cash at bank 50,000 80.000 Total 17,50,000 6,90,000 The balances in General Reserve and Profit and Loss Account of Sheetal Ltd. as on 31 st March 2019 were Rs.30,000 and Rs.1,00,000 respectively. Machinery showing book value of Rs.2,00,000 in the books of S Ltd. on the date of acquisition was valued at Rs.3,00,000 by Harish Ltd. Balance sheet of Harish Ltd includes: a) Rs.20,000 as Creditors for purchase made from Sheetal Ltd. on which Sheetal Ltd. made profit of Rs.5,000. b) Rs. 10,000 in stock at cost out of purchases made from Sheetal Ltd. Prepare consolidated Balance sheet as at 31st March 2020

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