Question: solve step wise please .. thanks Exercise 4: G Ltd. acquired control in S Ltd. a few years back when S Ltd. had Rs.25,000 in

solve step wise please .. thanks
Exercise 4: G Ltd. acquired control in S Ltd. a few years back when S Ltd. had Rs.25,000 in Reserve and Rs.14,000 (Cr.) in Profit & Loss Account. Plant Account (Book Value Rs.66,000) of S Ltd. was revalued at Rs.62,000 on the date of purchase. Equity Dividend of Rs.7,500 was received by G Ltd. out of pre- acquisition profit and the amount was correctly treated by G Ltd. Debenture Interest has been paid up to date. Following are the Balance Sheets of G Ltd. and S Ltd. as at 31st December (Rs.000's) - G Ltd. S Ltd Assets Goodwill G Ltd. 50 S Ltd 30 100 50 200 105 50 100 Liabilities 6% Preference Share Capital (Rs.100) Share Capital: Equity Share Capital (Rs. 10) General Reserve Profit & Loss Account 6% Debentures Current Liabilities: Sundry Creditors Due to S Ltd Bills Payable 500 30 40 100 30 15 28 Land and Buildings Plant and Machinery Furniture and Fittings Investments in shares in S Ltd: 300 Preference Shares 7,500 Equity Shares Debentures (Face Value Rs.50,000) Stock in Trade Sundry Debtors Bills Receivable Due from G Ltd., Bank Total 100 60 85 45 130 90 30 90 10 20 25 100 50 10 12 25 377 27 790 Total 790 377 Additional Information - 1. Cheque of Rs. 2,000 sent by G Ltd., to s Ltd., was in transit. 2. Balance Sheet of S Ltd. was prepared before providing for 6 months dividend on Preference Shares, the first half being already paid. 3. Both the Companies have proposed Preference Dividend only, but no effect has been given in the accounts. 4. Stock of G includes Rs.6,000 stock purchased from S on which s made 20% profit on cost. Stock of Sincludes Rs.10,000 purchased from G on which G made 10% profit on selling price. 5. Since acquisition, S Ltd. has written off 30% of the book value of plant as on date of acquisition by way of depreciation. 6. Bills Receivable of S Ltd, are due from G Ltd. Prepare Consolidated Statement of financial Position as at 31st December
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