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.

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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 Assets 60,000 Sundry fixed assets 30,000 Hari 1,00,000 40,000 50,000 40,000 2,30,000 Investment in shares of Shyam Limited (all 20,000 the shares) 30,000 Current assets 1,40,000 Hari 1,10,000 1,00,000 Shyam 1,30,000 20,000 10,000 2,30,000 1,40,000