Unit - 1 Consolidated Financial Statement

B.Com. VI Semester, 6.4 / 6.
5 – Indian Accounting Standards – 2 NEP-2023-24
module-1 conSolIdAted FInAncIAl StAtement (Ind AS 110)
Problem no- 1
R Ltd. acquired 40000 equity shares of Rs.10 each in S Ltd., on 1-1-2001. The following are the
balance sheets of two companies as at 31-12-2001.
Liabilities R Ltd., S Ltd.,

Shareholders Fund:
Shares of Rs. 10 each 1000000 500000
Reserves (1-1-2001) 100000 100000
P and L A/c (1-1-2001) 50000 30000
Profits for the year 60000 40000
Current liabilities:
Creditors 70000 50000
Bills Payable 10000 5000
Total 129000 725000
Assets:
Fixed Assets
Land and Buildings 200000 150000
Plant and Machinery 300000 300000
Non-current investments
Shares in S Ltd., 500000 -----
Current Assets
Stock 75000 50000
Sundry Debtors 50000 60000
Bills Receivable 10000 5000
Cash and Bank 155000 160000
Total 1290000 725000
Additional Information:
1. Bills receivable of R Ltd., includes Rs.5000 accepted by S Ltd., of which Rs. 1000 bills were
discounted with its banker and Rs.2000 is endorsed to its creditors.
2. Sundry Debtors of R Ltd., include Rs.10000 due from S Ltd.,
3. Stock of S Ltd., include goods purchased from R Ltd., for Rs.30000, which were invoiced by R
Ltd., at a profit of 25% on the cost price.
Prepare a consolidated balance sheet of R Ltd., and its subsidiary S Ltd. as at 31-12-2001
Prepared by Dinesh.M.S – IIFD0F0CDC

1
B.Com. VI Semester, 6.4 / 6.5 – Indian Accounting Standards – 2 NEP-2023-24
Problem no- 2
H Ltd., acquired 5000 equity shares of S Ltd., on 31-8-2015. The balance sheet of H Ltd., and its
subsidiary S Ltd., as on 31-12-2015 was as follows:
Liabilities H Ltd., S Ltd.,
Shareholders Fund:
Equity shares of Rs. 10 each 800000 80000
General reserves 120000 20000
Profit and loss account 80000 30000
Non-current liabilities:
8% Debentures 10 each ---- 50000
Sundry creditors 100000 40000
Bills payable 10000 5000
Total 1110000 225000
Assets:
Non Current assets:
Tangible assets
L&B 300000 80000
P&M 245000 60000
Furniture 40000 10000
Intangible assets
Goodwill 50000 -----
Non-Current Investments
In shares of S Ltd 100000 -----
In 2000 Debentures of S at par 20000 -----
Current assets:
Debtors 180000 30000
Bills receivable 10000 5000
Stock 160000 38000
Cash 5000 2000
Total 1110000 225000
1. Creditors of S Ltd., include Rs.12000 due to H Ltd.,
2. Bills payable of S Ltd., Rs.5000 due to H Ltd., of which H Ltd., got bills discounted worth
Rs.3000
3. on the date of acquisition of shares by H Ltd.:

a. The S Ltd., had a reserves of Rs.20000 and P&L account credit balance of Rs.15000
b. S Ltd., had L&B and P&M were found to be undervalued by Rs.20000 and overvalued by
Rs.10000 respectively. Changes are yet to be incorporated.
c. The stock of Y Ltd., includes goods to the value of Rs.3000 which were supplied by H Ltd., at
a profit of 1/3 on cost.
Prepare a consolidated balance sheet of H Ltd., and its subsidiary S Ltd., as on 31-12-15

2
Problem no- 3
On 31-3-2017 the balance sheet of Dev Ltd and Vikas Ltd stood as follows:
Liabilities Dev Ltd Vikas Ltd

Shareholders Fund:
Share capital 1300000 400000
General Reserves 300000 120000
P and L A/c 120000 80000
Sundry Creditors 80000 30000
Total 1840000 650000
Assets:
Tangible Assets
Fixed assets 900000 300000
Non-current investments
Investments (60% Shares in Vikas Ltd) 340000 ------
Current Assets
Stock 260000 190000
Bills Receivable 80000 70000
Sundry Debtors 260000 90000
Total 1840000 650000
Draw a consolidated balance sheet as on 31-3-2017 after taking into consideration the following:
a. Dev Limited acquired shares of Vikas Ltd as on 30-9-2016
b. Vikas Limited earned profit of Rs. 50000 for the year ended dated 31-3-2017
c. Bills receivable of Dev limited includes Rs.20000 due from Vikas Ltd.
d. The value of fixed assets of Vikas Limited was undervalued by Rs. 50000
e. Stock of Dev limited includes worth Rs. 60000 supplied by Vikas Limited which were invoiced
at profit of 25% on cost.

3
Problem no- 4
On 31-3-2003 the balance sheet of H Ltd and its subsidiary S Ltd stood as follows:
Share capital 800000 200000
P and L A/c 90000 55000
Bills Payable (including Rs. 2000 due to H) 20000 10000
Total 1160000 405000
Assets:
75% shares in S Ltd at Cost -- 280000 -----
Stock 105000 77000
Other current assets (BR included 1500 due from S) 225000 128000
Total 1160000 405000
Draw a consolidated balance sheet as at 31-3-2003 after taking into consideration the following
information:
a. H Ltd., acquired shares in S Ltd., on 31-7-2002
b. S Ltd., earned a profit of Rs.45000 for the year ended 31-3-2003
c. On 1-1-2003 S Ltd., sold to H Ltd., goods costing Rs.15000 for Rs.20000
d. On 31-3-2003 ½ of the above goods were lying unsold in the godown of H Ltd.,
e. Sundry debtors of H Ltd., include Rs.12500 due from S Ltd.,

4
Problem no- 5
Arathi Bharathi
Liabilities
Ltd., Ltd.,
Share capital:
Shares of Rs. 100 each 500000 200000
P and L A/c 30000 10000
1000, 12% Debentures ----- 100000
Total 682000 403000
Assets:
Debtors 60000 30000
Stock 35000 15000
Investments:
Shares in Bharathi Ltd., 1500 shares at Rs. 120 each 180000 ------
400, 12% debentures 40000 ------
Cash 15000 30000
Total 682000 403000
Arathi Ltd., acquired shares in Bharathi Ltd., on 1-7-2015. General Reserves and P&L A/c of
Bharathi Ltd., were showing on 1-1-2015 the balances of Rs.30000 and Rs.4000 respectively.
Creditors of Bharathi Ltd., include Rs.10000 for goods supplied by Arathi Ltd., at a profit of
Rs.20% on sales. Half of the goods were still in stock of Bharathi Ltd., on 31-12-2015.
The Bills Payable accepted by Arathi Ltd., are all in favour of Bharathi Ltd.,
Prepare consolidated balance sheet.

5
Problem no- 6
H Ltd., acquired 80000 shares of Rs. 10 each in S Ltd., on 1-1-2002. The summarized balance
sheet of H Ltd., as on 30th June 2002 was as follows.

Share capital:
Shares of Rs. 10 each 2000000 1000000
P and L A/c 50000 45000
9% Debentures ----- 200000
Total 2570000 1605000
Assets:
Fixed assets
Machinery 600000 450000
Furniture 20000 40000
Investments: -----
Shares in S Ltd., 880000 -----
9% Debentures in S Ltd., 80000 ----
Current assets
Stock 520000 650000
Debtors 180000 270000
Cash 280000 180000
Total 1160000 405000
Additional Information:
1. Bills Receivable of S Ltd., include bills for Rs.8000 acquired by H Ltd.,
2. Creditors of S Ltd., include Rs.20000 due to H Ltd.,
3. An amount of Rs.30000 was transferred by S Ltd., from the current year profits to reserves
You are required to prepare the consolidated Balance sheet on 30-6-2002

6
Problem no- 7
Share capital:
Shares of Rs. 100 each 500000 200000
P and L A/c 80000 -----
General reserves 100000 ----
6% Debentures ----- 100000
Total 755000 345000
Assets:
Stock in trade 90000 40000
Debtors 60000 30000
6% debentures in S Ltd 60000 ------
Shares in S Ltd., 1500 shares at Rs. 80 each 120000 ------
Cash and bank 75000 25000
Profit and loss account ---- 100000
Total 755000 345000
a. H Ltd., acquired shares in ‘S’ Ltd., on 1-4-2015. The profit and loss account of S Ltd., showed
a debit balance of Rs.150000 on 1-1-2015.
b. Sundry creditors of S Ltd., include Rs.20000 for goods supplied by H Ltd., on which H Ltd.,
made a profit of Rs.2000. Half of the goods were still in stock on 31-12-2015.
Prepare consolidated balance sheet.

7
Problem no- 8
The balance sheet of P Ltd., and its subsidiary Q Ltd., on 31-3-2017 was as follows:
Liabilities P Ltd., Q Ltd., Assets P Ltd., Q Ltd.,
Share capital: Goodwill 90000 ------
shares of Rs.100 each 500000 300000 Buildings 160000 165000
General Reserves 120000 ------ Plant and Machinery 140000 130000
Profit and Loss A/c 30000 ------ Stock 40000 80000
8% Debentures 100000 200000 Sundry debtors 70000 120000
Sundry Creditors 35000 25000 8% Debentures in Q Ltd 100000 -----
Bills payable 15000 10000 2000 shares in Q Ltd 180000 -----
Bank 20000 10000
Profit and loss account ----- 30000
800000 535000 800000 535000
P Limited acquired the shares of Q Limited on 1-7-2016. The profit and loss account of Q
Limited showed a debit balance of Rs. 90000 on 31-3-2016.
Buildings of Q Limited was overvalued by Rs. 20000.
Prepare a consolidated balance sheet.

8
Problem no- 9
The following are the balance sheets of X Ltd., and Y Ltd., as on 31-12-2015.
Liabilities X Ltd., Y Ltd., Assets X Ltd., Y Ltd.,
shares of Rs.100 each 400000 200000 Fixed assets 260000 120000
Capital Reserves 40000 ------ Investments:
General Reserves 40000 ------ In shares of Y Ltd 140000 -----
Profit and Loss A/c 40000 ------ Stock 80000 40000
Sundry Creditors 40000 20000 Debtors 70000 30000
Cash 10000 5000
560000 220000 560000 220000
X Ltd., acquired 1600 shares of Y Ltd., on 30-6-2015. On 1-1-2015 Profit and Loss A/c of Y Ltd.,
had a debit balance of Rs.40000. Sundry creditors of Y Ltd., include Rs.8000 due to X Ltd. On
the date of acquisition of shares, it is found that fixed assets of Y Ltd., were found to be
overvalued by Rs.10000.
Prepare consolidated balance sheet of X Ltd., and its subsidiary Y Ltd., as on 31-12-2015

9
Problem no- 10
The following are the balance sheets of Sun Ltd., and Moon Ltd., as on 31-12-2011.
Sun Moon Sun Moon

Liabilities Assets
Ltd., Ltd., Ltd., Ltd.,
Share capital: Goodwill 6000 ----
General Reserves 20000 ----- Plant and Machinery 19000 8500
Profit and Loss A/c 10000 ----- Stock 9500 5500
9% Debentures ----- 12000 Sundry debtors 7000 3000
Sundry Creditors 6500 4000 9% Debentures in Moon
Bills payable ----- 1500 Ltd at par 9000 -----
2000 shares in Moon Ltd 16000 -----
Bank 5000 3500
96500 47500 96500 47500
Sun Ltd., acquired the shares in Moon Ltd., on 1-5-2011. The profit and loss account on Moon
Ltd., showed a debit balance of Rs.20000 on 1st January 2011; the bills payable of Moon Ltd.,
were all issued to Sun Ltd., which company got the bills discounted. Included in creditors of
Moon Ltd., Rs.1700 for goods supplied by Sun Ltd.,; the stock of Moon Ltd., includes goods to
the value of Rs.900 which were supplied by Sun Ltd., at a profit of 1/3 on cost. The buildings of
Moon Ltd., was undervalued by Rs.1100.
Prepare consolidated balance sheet

10
Problem no- 11
‘H’ Ltd., holds 80% of equity share capital of ‘S’ Ltd., which was acquired on 1-1-2013. When the
‘S’ Ltd., had a credit balance in profit and loss account of RS.15000 and general reserves of
Rs.20000. Stock held by ‘H’ Ltd., include Rs.5000 for goods supplied by ‘S’ Ltd., at a profit of
25% on cost. From the balance sheets, prepare consolidated balance sheet as on 31-12-2013.
Liabilities H Ltd., S Ltd., Assets H Ltd., S Ltd.,
shares of Rs.100 each 500000 400000 Fixed assets 245500 23000
Capital Reserves 140000 5000 Investments:
General Reserves 120000 30000 8000 shares of S Ltd 120000 -----
Profit and Loss A/c 40000 10000 Current assets 501000 160400
Sundry Creditors 149700 36000 Cash 64500 -----
Bills payable 21300 1000 Underwriting commission ----- 5000
Bank overdraft ----- 6400
931000 188400 931000 188400
Bills payables of B Ltd were all issued to A, which company got the bills discounted included in
creditors of B Ltd., Rs.6000 for supplied by A Ltd.

11
Problem no- 12
From the following balance sheets of H Ltd., and its subsidiary S Ltd., as on 31-12-2004.
Prepare the consolidated balance sheet.
Reserves 50000 15000 Plant 60000 25000
Profit and Loss A/c 25000 21000 Stock 40000 10000
6% Debentures 70000 ----- Debtors 35000 15000
Creditors 15000 10000 Bills Receivable 15000 10000
Bills payable 5000 9000 Bank 10000 5000
Investments:
(400 Shares in S Ltd.,) 6000 -----
365000 115000 365000 115000
1. On the due date of acquisition of shares of S Ltd., by the H Ltd., the former had undistributed
profits of Rs.9000 and reserves of Rs.6000
2. The value of buildings and plant of S Ltd., were considered at Rs.65000 and Rs.16000
respectively.
3. Debtors of H Ltd., include Rs.5000 due from S Ltd., and also bills payable of H Ltd., include a
bill of Rs.3000 accepted in favour of S Ltd.,

12
Problem no- 13
From the following balance sheets of X Ltd., and its subsidiary Y Ltd., as on 31-3-2012. Prepare
consolidated balance sheet.
shares of Rs.10 each 800000 200000 Fixed Assets 550000 100000
Profit and Loss A/c 90000 55000 75% shares in Y Ltd. 280000 ----
Reserves 150000 70000 Stock 105000 177000
Creditors 70000 50000 Bills Receivable 25000 28000
Bills payable 50000 30000 Debtors 200000 100000
1160000 405000 1160000 405000
1. X company acquired shares on 30-6-2011
2. Y company earned profit of Rs.45000 for the year ended 31-3-2012
3. Debtors of ‘X’ Ltd. Include Rs.25000 due from Y Ltd.

13
Problem no- 14
Strong company acquired 12000 equity shares of Rs. 10 each at a market price of Rs. 15 per
share in Weak Company as on 31-3-2018. Their balance sheets of these companies as on 30-6-
2018 were as follows:
Strong Weak
Liabilities
Ltd. Ltd.
Equity share capital (of Rs. 10 each) 500000 200000
General Reserves (1-7-2017) 120000 50000
8% Debentures ----- 50000
Total 785000 400000
Assets:
Investments in W Company shares 180000 ------
Current assets 55000 45000
Total 785000 400000
On 1-7-2017 the profit and loss account of W Limited was showing a credit balance of Rs.
20000. Creditors of W Ltd includes Rs. 15000 to S Ltd for goods supplied, on which S Ltd made
a profit of Rs. 3000. 1/3 of these goods are unsold on 30-6-2018. Bills Payable of W Ltd are all
in favour of S Ltd. Of which the latter company got discounting bills worth Rs. 7000. It is found
that fixed assets of w Ltd are undervalued by Rs. 15000.
Prepare consolidated balance sheet of S Ltd and its subsidiary W Ltd as on 30-6-2018.

14
Problem no- 15
The following are the summarized balance sheet of X Ltd,. and Y Ltd,. as on 31.3.2019.
Equity share capital (of 500000 90000 Free hold premises 225000 60000
Rs. 10 each) Plant and Machinery 175000 80000
General Reserves 200000 62500 Furniture 40000 15000
Profit and loss account 150000 87500 Debtors 150000 85000
Sundry Creditors 50000 35000 Investments :
10000 shares in Y Ltd at
cost 130000 ----
Cash 20000 15000
Stock 160000 80000
900000 335000 900000 335000
You are required to prepare a consolidated balance sheet as on 31.3.2019 showing in details
necessary adjustments and taking into consideration for the following information:
a) X Ltd. acquired the shares of Y Ltd. on 1.4.18 when the balances in their profit and loss
account and general reserves were Rs. 37500 and Rs. 40000 respectively.
b) The stock of Rs. 80000 held by Y Ltd consists of Rs. 30000 goods purchased from X Ltd. who
has charged profit at 25% on cost.
c) Sundry creditors of Y Ltd. include Rs. 10000 due to X Ltd.

15
Problem no- 16
On 31.12.2020 the balance sheets ox X Ltd and Y Ltd stood as follows:

Liabilities X Ltd. Y Ltd.
Equity share capital 800000 200000
Other current liabilities 25000 15000
Total 1185000 420000
Assets:
75% shares in Y Ltd 280000 ------
Stock 105000 177000
Debtors 200000 100000
Rent paid in advance 25000 15000
Total 785000 400000
Prepare a consolidated balance sheet as at 31.12.2020 after taking into consideration the
following information.
a) X Ltd acquired shares on 30.6.2020
b) Y Ltd earned profit of Rs. 45000 for the year ended 31.12.2020.
c) Debtors of X Ltd include Rs. 25000 due from Y Ltd.
d) On 31.12.2020 Fixed assets of Y Ltd, are found undervalued by Rs. 10000, the new values are
to be incorporated.
e) The stock of Y Ltd includes Rs. 5000 goods supplied by X Ltd at a profit of 25% on cost.

16
Problem no- 17
H Ltd., acquired 40000 shares of Rs.10 each of S Ltd., out of 50000 shares in S Ltd., at a
market price of Rs.18 per share. On the date of acquisition by H Ltd., S Ltd., had a profit and
loss account credit balance of Rs.80000 and Reserves of Rs.30000. There is discount on issue of
shares and debentures are Rs.20000.
Calculate Cost of Control.
Problem no- 18
H Ltd., Company acquired 800 shares in S Ltd., out of 1000 shares of Rs.50 each at a market
value of Rs.75 each on 1-7-2015. On 1-1-2015 S Company had a reserve of Rs.40000 and Profit
and Loss A/c (Credit) of Rs.30000. On 31-12-2015 when the books are closed, the profit and
loss account S Ltd., disclosed a profit of Rs.50000.
Calculate the Cost of Control.
Problem no- 19
M Limited acquired 8000 shares of Rs. 100 each of N Limited out of 12000 shares of N Limited
at a market price of Rs. 150 per share. On the date of acquisition of shares of M limited, N
limited had profit and loss account credit balance of Rs. 150000 and Reserves of Rs. 60000.
Calculate cost of control.
Problem no- 20
Following are the balance sheets of H Ltd., and its subsidiary S Ltd., as on 31.3.2020.

share capital 1200000 300000 Fixed Assets 825000 150000
Reserves 225000 105000 Shares in S Ltd at cost 420000 -----
Profit and loss account 135000 82500 Current Assets 495000 457500
1740000 607500 1740000 607500
H Ltd., acquired 75% shares on 1.9.2019. S Ltd earned a profit of Rs. 60000 for the year ended
31.3.2020. Calculate Minority Interest.

17
Problem no- 21
Following are the balance sheets of H Ltd., and its subsidiary S Ltd., as on 31.3.2012. Calculate
Minority Interest.
share capital 250000 100000 Fixed Assets 425000 250000
Reserves fund 50000 25000 Shares in S Ltd
Profit and loss account 50000 25000 (700 shares in S ltd) 75000 -----
Debentures ---- 50000
500000 250000 500000 250000
Problem no- 22
Following are the balance sheets of H Ltd., and its subsidiary S Ltd., as on 31-12-2015.
E/S Capital of Re.10 each 200000 100000 Fixed Assets 104000 100000
General Reserves (1-1-15) 20000 10000 Current Assets 50000 50000

P&L account (1-1-15) 20000 8000 Shares in S Ltd
Profits for the year
40000 22000 100% shares in S ltd 146000 -----
Other Creditors
20000 10000
300000 150000 500000 250000
H Ltd., acquired shares in S Ltd., on 31-12-2015. Prepare Consolidated Balance Sheet of H Ltd.,
and its subsidiary S Ltd.,
Problem no- 23
Following are the balance sheets of H Ltd., and its subsidiary S Ltd., as on 31-12-2012.
E/S Capital of Re.10 each 120000 60000 Sundry Assets 200000 120000
General Reserves 30000 10000 Investments:

P&L account 20000 10000 60000 shares in S ltd 75000 -----
Other liabilities 105000 30000
275000 120000 275000 120000
H Ltd., acquired shares in S Ltd., on 31-12-2015. Calculate goodwill or capital reserves

18
Problem no- 24
Capital reserves ------ 20000
8% Debentures 100000 -----
Current liabilities 70000 30000
Total 900000 450000
Assets:
Land and buildings 550000 1550000
Plant and machinery 260000 200000
Furniture and fittings 40000 20000
Investments in s company shares 250000 -----
Preliminary expenses ------ 10000
Total 900000 450000
H Company Ltd acquired all shares of s Ltd on 31-12-2018. Prepare CBS
Problem no- 25
Creditors 180000 120000
Total 1515000 607500
Assets:
Shares in S Ltd @ cost 420000 -----
Total 1515000 607500
H Company Ltd acquired 75% of shares, S Ltd. earned a profit of Rs. 67500 for the year ended
31.3.2019. Find out Minority interest.
****************************************

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Unit - 1 Consolidated Financial Statement

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B.Com. VI Semester, 6.4 / 6.

5 – Indian Accounting Standards – 2 NEP-2023-24

module-1 conSolIdAted FInAncIAl StAtement (Ind AS 110)

balance sheets of two companies as at 31-12-2001.

Liabilities R Ltd., S Ltd.,

discounted with its banker and Rs.2000 is endorsed to its creditors.

2. Sundry Debtors of R Ltd., include Rs.10000 due from S Ltd.,

Ltd., at a profit of 25% on the cost price.

Prepared by Dinesh.M.S – IIFD0F0CDC

3. on the date of acquisition of shares by H Ltd.:

Prepared by Dinesh.M.S – IIFD0F0CDC

Liabilities Dev Ltd Vikas Ltd

a. Dev Limited acquired shares of Vikas Ltd as on 30-9-2016

Prepared by Dinesh.M.S – IIFD0F0CDC

Liabilities H Ltd., S Ltd.,

Share capital 800000 200000

General Reserves 150000 70000

P and L A/c 90000 55000

Sundry Creditors 100000 70000

Bills Payable (including Rs. 2000 due to H) 20000 10000

Total 1160000 405000

Fixed assets 550000 200000

75% shares in S Ltd at Cost -- 280000 -----

Stock 105000 77000

Total 1160000 405000

b. S Ltd., earned a profit of Rs.45000 for the year ended 31-3-2003

c. On 1-1-2003 S Ltd., sold to H Ltd., goods costing Rs.15000 for Rs.20000

e. Sundry debtors of H Ltd., include Rs.12500 due from S Ltd.,

Prepared by Dinesh.M.S – IIFD0F0CDC

Prepare consolidated balance sheet.

Prepared by Dinesh.M.S – IIFD0F0CDC

sheet of H Ltd., as on 30th June 2002 was as follows.

Liabilities H Ltd., S Ltd.,

2. Creditors of S Ltd., include Rs.20000 due to H Ltd.,

You are required to prepare the consolidated Balance sheet on 30-6-2002

Prepared by Dinesh.M.S – IIFD0F0CDC

a debit balance of Rs.150000 on 1-1-2015.

Prepare consolidated balance sheet.

Prepared by Dinesh.M.S – IIFD0F0CDC

Limited showed a debit balance of Rs. 90000 on 31-3-2016.

Buildings of Q Limited was overvalued by Rs. 20000.

Prepare a consolidated balance sheet.

Prepared by Dinesh.M.S – IIFD0F0CDC

Liabilities X Ltd., Y Ltd., Assets X Ltd., Y Ltd.,

shares of Rs.100 each 400000 200000 Fixed assets 260000 120000

Capital Reserves 40000 ------ Investments:

General Reserves 40000 ------ In shares of Y Ltd 140000 -----

Profit and Loss A/c 40000 ------ Stock 80000 40000

Sundry Creditors 40000 20000 Debtors 70000 30000

Cash 10000 5000

Profit and loss account ----- 25000

560000 220000 560000 220000

Prepared by Dinesh.M.S – IIFD0F0CDC

Sun Moon Sun Moon

Moon Ltd., was undervalued by Rs.1100.

Prepare consolidated balance sheet

Prepared by Dinesh.M.S – IIFD0F0CDC

Liabilities H Ltd., S Ltd., Assets H Ltd., S Ltd.,

shares of Rs.100 each 500000 400000 Fixed assets 245500 23000