From the following Balance Sheets of H Ltd. and its subsidiary S Ltd. as at 31.12.2015 prepare a Consolidated Balance Sheet:

On the date when H Ltd. acquired shares in S Ltd. latter’s reserve stood at ₹ 15,000 and its Profit and Loss Account had a credit balance of ₹ 8,000. Preference dividends have been regularly paid upto 30.6.2015, and equity dividends upto 31.12.2014. Dividend received by H Ltd. have been correctly recorded in that company’s books. Of the first dividend on Equity Shares paid since the date of acquisition of the shares. H Ltd. credited ₹ 3,000 to the Equity Shares in S Ltd. Account. Debenture interest are paid to date. At the date of acquisition of the shares, plant and machinery standing at ₹ 24,000 in S Ltd.’s books were revalued at ₹ 20,000 but no adjustment was made in the books. Between that date and 31.12.2015, depreciation amounting to 40% in all have been written-off from plant. H Ltd. remitted ₹ 2,000 on 30.12.2015 but was received by S Ltd. on 4.1.2016.

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Balance Sheets of H. Ltd. and S. Ltd. as at 31st December, 2015 H. Ltd. (₹) (3) I. EQUITY AND LIABILITIES (1) Shareholders' Funds: (a) Share Capital Equity Share of 10 each fully paid Particulars (1) 6% Preference Share of 100 each fully paid (b) Reserves and Surplus: General Reserve TOTAL II. ASSETS (1) Non-current Assets : (a) Fixed Assets Profit and Loss Account (2) Share Application Money Pending Allotment: (3) Non-current Liabilities: (a) Long-trerm Borrowings --- 5% Debentures (4) Current Liabilities: Trade Payables - Sundry Creditors Due to S Ltd. Bills Payable-Drawn by H. Ltd. Others (i) Tangible Assets: Buildings less Depreciation Plant and Machinery less Depreciation Furniture and Fittings less Depreciation (ii) Intangible Assets-Goodwill at Cost (b) Non-current Investments - 3,000 Equity Shares of S Ltd. 200 Preference Shares of S. Ltd. Note No. (2) 2,00,000 1,50,000 50,000 23,000 - 1 92,000 3,000 25,000 5,43,000 1,00,000 1,20,000 12,000 60,000 33,000 24,000 S. Ltd. ₹ (4) 40,000 80,000 20,000 11,000 50,000 60,000 10,000 5,000 2,76,000 50,000 30,000 5,000 40,000 - -