Hari Limited acquired all the shares of Shyam Limited on April 1, 2010 and the balance sheet of both the companies as on March 31, 2011 is as follows:

The profit and loss account of Shyam Limited has a credit balance of ₹6,000 on April 1, 2010. Prepare consolidated financial statement as on March 31, 2011 after considering the facts on April 1, 2010 sundry fixed assets of Shyam Limited had a fair value of ₹1,45,000 and current assets included inventory of ₹5,000 that had fair value ₹4,000.

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Liabilities Share capital General reserve (as on April 1, 2010) Profit and loss a/c Sundry creditors Balance Sheet as on March 31, 2011 Shyam Hari 1,00,000 40,000 60,000 30,000 50,000 20,000 40,000 30,000 2,30,000 1,40,000 Assets Sundry fixed assets Investment in shares of Shyam Limited (all the shares) Current assets Hari 1,10,000 1,00,000 20,000 2,30,000 Shyam 1,30,000 10,000 1,40,000