H Ltd. acquired 80% of both classes of shares of S Ltd. on 1.1.2015 at a total
Question:
H Ltd. acquired 80% of both classes of shares of S Ltd. on 1.1.2015 at a total cost cost of ₹ 1,00,000. The Balance Sheets of the two companies as on 31.12.2015 are given below:
Transcribed Image Text:
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 (b) Reserves and Surplus: Particulars (1) General Reserve (1.1.2015) Profit and Loss Account Note No. (2) (1) 4,00,000 50,000 20,000 S Ltd. ₹ (4) 1,00,000 30,000 10,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
To prepare the Consolidated Balance Sheet as of 31st December 2015 for H Ltd and its subsidiary S Lt...View the full answer
Answered By
Sayee Sreenivas G B
I have extensive tutoring experience, having worked as a private tutor for over three years. I have tutored students from different academic levels, including high school, undergraduate, and graduate levels. My tutoring experience has taught me to be patient, attentive to student needs, and effective in communicating difficult concepts in simple terms.
I have a strong background in statistics, probability theory, data analysis, and data visualization. I am proficient in using statistical software such as R, Python, and SPSS, which are commonly used in academic research and data analysis. Additionally, I have excellent communication and interpersonal skills, which enable me to establish rapport with students, understand their learning styles, and adapt my teaching approach to meet their needs.
I am passionate about teaching and helping students achieve their academic goals.
0.00
0 Reviews
10+ Question Solved
Related Book For
Corporate Accounting As Per The Companies Act 2013 Including Rules 2014 And 2015
ISBN: 9789352605569
2nd Edition
Authors: M Hanif, A Mukherjee
Question Posted:
Students also viewed these Business questions
-
Old Office Building Karas Investments owns a small office building in Windhoek, from which the company operates. The Windhoek office was purchased on 1 March 2019. Karas Investments decided to move...
-
Kramer Corporation enters a contract to sell 100 custom-made iron pipes to a customer for $300,000 on December 31, 2016, and the customer pays the full amount on that date. The sales contract...
-
At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Depreciation is computed to the nearest month and residual values are...
-
Let be an arbitrary operation in Problems 5259. Describe the operation for each problem. 503 = 2; 702= 5; 901 = 8; 8 0 2 = 6;
-
Bill Smith is the Worthington Township manager. When citizens request a traffic light, the staff assesses the traffic flow at the requested intersection. Township policy requires the installation of...
-
Explain how consumers might engage in each of the processes of selective perception described in the chapter. Provide examples.
-
A gas turbine works on: (a) Rankine cycle (b) Carnot cycle (c) Joule cycle (d) Erriction cycle
-
WEBDESIGN Ltd. decided that it needed to update its computer programs for its supplier relationships. It purchased an off-the-shelf program and modified it internally to link it to 'WEBDESIGN's other...
-
Using simplex method, solve the following Linear Programming problem and interpret the solutions Maximize II 2x, +12x2 +8x3 Subject to the constraints 2x+2x+x, 100, x-2x+5x, 80 10x, +5x+4x, 300, xxx...
-
P Ltd. acquired 6,000 Equity Shares of 10 each in S Ltd. on December 31, 2015. The summarised Balance Sheets of P Ltd. and S Ltd. as on that date were: I. EQUITY AND LIABILITIES (1) Shareholders'...
-
Dividend paid by the subsidiary company out of post-acquisition profit is credited to A. Investment account of the holding company; B. Profit and loss account of the holding company C. Capital...
-
The table shows the numbers of male and female students in the United States who received bachelors degrees in business in a recent year. (a) Find the probability that a randomly selected student is...
-
A secretary types 10 different letters and addresses 10 corresponding envelopes. If he is in a hurry and randomly inserts the letters into the envelopes, what is the probability that exactly 9 of the...
-
The winning numbers for the current California Fantasy 5 lottery are 13, 18, 22, 24, and 32 in any order. Do calculations for winning this lottery involve permutations or combinations? Why?
-
Assume that 400 births are randomly selected. Use subjective judgment to determine whether the given outcome is unlikely, and also determine whether it is unusual in the sense that the result is far...
-
Every four years, 32 soccer teams compete in a world tournament. a. How many games are required to get one championship team from the field of 32 teams? b. If you make random guesses for each game of...
-
A: When one of the 222 coins listed in Data Set 21 is randomly selected, it is one of the 5 Indian pennies. B: When another one of the 222 coins listed in Data Set 21 is randomly selected, it is also...
-
Explain the characteristics of effective objectives.
-
Consider the following cash flows in Table P5.5. (a) Calculate the payback period for each project. (b) Determine whether it is meaningful to calculate a payback period for project D. (c) Assuming...
-
At the beginning of the tax year, Lizzie holds a $10,000 stock basis as the sole shareholder of Spike, Inc., an S corporation. During the year, Spike reports the following. Determine Lizzies stock...
-
Assume the same facts as in Problem 38, except that the cash distribution to Lizzie amounts to $40,000. Determine Lizzies stock basis at the end of the year, and the treatment of her cash...
-
Maple, Inc., is an S corporation with a single shareholder, Bob Maple. Bob believes that his stock basis in the entity is $50,000, but he has lost some of the records to substantiate this amount....
-
Assuming that the following variables have been declared: // index 0123456789012345 String str1 = "Frodo Baggins"; String str2 = "Gandalf the GRAY"; What is the output of...
-
The manufacturing operations of Oriole, Inc. had the following inventory balances for the month of January: January 1 January 31 Raw Materials $10,560 $11,440 Work in Process 18,480 20,240 Finished...
-
Issuing bonds at face amount On January 1, the first day of the fiscal year, Designer Fabric Co. issues a $750,000, 8%, 10-year bond that pays semiannual interest of $30,000 ($750,000 8% x year),...
Study smarter with the SolutionInn App