On October 1, 2010 Hanging Limited (HL) acquired 1,800 equity shares of ₹10 each of Flat Limited (FL) at a total market value of ₹ 25,500. The balance sheet of both the companies on March 31, 2011 is as follows:

Out of the debtors and bills receivables of HL, ₹7,500 and  ₹2,400, respectively, represent due from FL. Balance of general reserve of FL is as on April 1, 2010 and P & L a/c of FL includes current year’s profit of  ₹ 6,750. Prepare consolidated balance sheet as on March 31, 2011.

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Liabilities Equity shares of face value * 10 each General reserve P & La/c Creditors Bills payable Balance Sheet as on March 31, 2011 HL 1,50,000 FL 30,000 63,000 15,000 39,000 12,750 36,000 12,000 Assets Land and building Plant and machinery Stock Debtors 13,800 Investment 9,000 3,00,000 80,550 Bills receivables Bank Cash (Rupees in crore) HL FL 1,05,000 25,500 75,000 15,000 30,000 6,000 45,000 20,250 30,000 3,000 9,000 3,000 4,500 7,500 1,800 3,00,000 80,550