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Holding Company
1. The following are the statements of assets and liabilities of Ambani ltd
and AdaniLtd as on 31.3.2017: (2017)
Particulars Note Ambani Adani ltd
ltd
I. EQUITY AND LIABILITIES
1. Shareholder’s funds
a. Share capital 30,00,000 10,00,000
b. Reserves and surplus 1 35,00,000 7,60,000
2. Current liabilities Trade payables
Total 2 3,00,000 3,22,000
II. ASSETS 68,00,000 20,82,000
1. Non current assets
a. Fixed assets – Tangible assets
b. Non current investments 3 26,60,000 12,62,000
2. Current assets 4 18,60,000 70,000
a. Inventories (stock)
b. Trade receivables 6,80,000 4,04,000
c. Cash and cash equivalents (cash atbank) 5 12,00,000 3,16,000
Total 4,00,000 30,000

68,00,000 20,82,000

Notes to accounts :

Particulars Ambani Adani ltd

ltd
1. Reserves and surplus
a. Reserves 19,00,000 40,000
b. Balance in statement of P/L 16,00,000 7,20,000
35,00,000 7,60,000

2. Trade payables
a. Current a/c with adani ltd. 36,000 ---
b. Sundry creditors 2,64,000 3,22,000
3,00,000 3,22,000
3. Fixed assets – Tangible assets
a. Land and buildings 20,60,000 7,20,000
b. Machinery 6,00,000 5,42,000
26,60,000 12,62,000

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4. Non current investments

a. Investments in shares of Adani ltd 16,00,000 ---
b. Other investments 2,60,000 70,000
18,60,000 70,000
5. Trade receivables
a. Sundry debtors 12,00,000 2,76,000
b. Current a/c with Ambani ltd. --- 40,000
12,00,000 3,16,000
Other particulars :
a. Ambani ltd acquired 80% shares of Adani ltd on 1.7.16. On 1.4.16, the
reserve and statement of profit and loss of adani ltd were Rs. 20,000
and Rs. 4,00,000 respectively.
b. Land and buildings standing in the books of Adani ltd at Rs. 8,00,000 on
1.4.16 were revalued at Rs. 7,60,000 at that date of acquisition , but it
was not passed in the books.
c. Adani ltd declared and paid 20%dividend for the year 2015-16 in july
2016 and Ambani ltd credited the entire amount of dividend received
from Adani ltd to itsstatement of profit and loss.
d. Stock of Ambani ltd includes Rs. 60,000 goods purchased from Adani ltd.
e. Sundry creditors of Ambani ltd. includes Rs. 1,20,000 purchased from
Adani ltd on which Adani ltd made a profit of Rs. 30,000.
f. On 31.3.2017, Ambani ltd remitted a chequeRs 4,000 on current a/c to
Adani ltd.
From the above information prepare a consolidated balance sheet of
Ambani ltdand its subsidiary Adanilts as on 31.3.2017

2. The balance sheet of Honey Ltd. and its subsidiary Sour ltd. as on
31.3.2014 stoodas follows: (2015)
Particulars Honey ltd Sour ltd
I. EQUITY AND LIABILITIES
1. Shareholder’s funds
a. Equity shares of Rs. 10 each fully paid 12,000 4,800
b. Reserves and surplus
General reserve 2,748 1,380
Profit and loss account 2,715 1,620
2. Current liabilities
Bills payable 372 160
Sundry creditors 1,461 854
Provision for taxation 855 394
Proposed dividend 1,200 ---
Total 21,387 9,208

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II. ASSETS
1. Non current assets
a. Fixed assets
Land and buildings 2,718 ---
Plant and machinery 4,905 4,900
Furniture and fittings 1,845 586
b. Non current investments
c. Share in Sour ltd 3,000 ---
2. Current assets
Stock 3,949 1,956
Debtors 2,600 1,363
Cash and cash equivalents 1,490 204
Bills receivables 360 199
Sundry advances 520 ---
Total 21,387 9,208
The following information are also provided:
a. Honey ltd. purchased 180 lakhs shares in Sour ltd on 1stapril, 2013 when
the balances to general reserve and profit and loss account of Sour ltd
stood at Rs. 3,000 lakhs and Rs. 1,200 lakhs respectively.
b. On 4thjuly 2013 Sour ltd declared a dividend @ 20% for the year ended
30.3.2013 Honey Ltd credited dividend received by it to its profit and
loss account.
c. On 1st January, 2014 Sour Ltd issues 3 fully paid-up shares for every 5
shares held as bonus shares out of the balances to its general reserves
as on 31.3.2013.
d. On 31.3.2014 all bills payable in Sour Ltd’s balance sheet were
acceptances in favour of Honey ltd. But on that date, Honey ltd held
only Rs. 45 lakhs of these acceptances in hands, the rest having been
enclosed in favour of its creditors.
e. On 31.3.2014 Sour Ltd’s stock included goods which it had purchased
for Rs. 100lakhs from Honey Ltd. which a profit @ 25% on cost.
Prepare a consolidated balance sheet of Honey Ltd. and its subsidiary
Sour ltd asat 31st March 2014.

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