PQ No 16.26: Following are the abridged balance sheet of Hary Ltd. and Say Ltd. as on 31st March, 2009: Equities & Liabilities Shareholders' Funds: Particular Equity Share Capital ( 100 each) General Reserve Profit & Loss Account Current Liabilities Assets Fixed Assets Investments in Shares of Say Ltd. Current Assets Hary Ltd. (*) 10,00,000 1,00,000 1,60,000 4,40,000 17,00,000 4,80,000 5,00,000 7,20,000 17,00,000 Say Ltd. (3) 5,00,000 1,70,000 1,30,000 2,00,000 10,00,000 2,50,000 7,50,000 10,00,000 Additional Information: 1. On 1st July, 2008, Hary Ltd. acquired 3,000 shares of in Say Ltd. The reserves and surplus position of Say Ltd. as on 15 April, 2008 was as under: General Reserve *2,50,000 Profit & Loss A/c (Cr.) *1,20,000 I 2. On 1st October; 2008, Say Ltd. issued one equity share for every four shares held as bonus shares out of general reserve. No entry has been made in the books of Hary Ltd. for issue of bonus shares. 3. On 30th September, 2008, Say Ltd. declared a dividend ou