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Amizone Q6 Odd Lid acquired the entire oquity shao capital of Evon Ltd on 1st January 2019 for a consideration of Rs 600 million Al the time of acqurtion, the share capitai of Even Lid consisted of 20 milion oqaty shares of Rs 10 each The company had reserve and surpks amounting to Rs 560 milon The Balance Sheets of the two companies as on 31st March, 2019 are given below Odd Lid. (Rs. In million) Even Ltd. (Rs. In million) Liabilities: Share Capital Reserve and Suplus Loan Funds Creditors 500 200 2540 750 1400 680 3030 3200 1650 Total 7890 Assets: FIxed Assets Investments Inventones Debtors Loans and Advances Other Assets Total 1430 650 630 2580 925 100 320 560 1260 1340 7890 165 960 3030 Additional Information: 1. Even Lid borrowed Rs 1000 milion from Odd Ltd on 1st April 2019 at 10% per annum The loan amount and interest thereon are due to be paid 2 Odd Lid bought goods from Even Lid for Rs 200 million during the yoar. Even Lid charged a margin of 25% on cost Out of these goods, 1/4th is still unsold 3. The debtors for Even Lid incude an amount of Rs. 140 milion receivables from Odd Lid You are required to prepare consolidated balance sheet.

Amizone Q6 Odd Lid acquired the entire oquity shao capital of Evon Ltd on 1st January 2019 for a consideration of Rs 600 million Al the time of acqurtion, the share capitai of Even Lid consisted of 20 milion oqaty shares of Rs 10 each The company had reserve and surpks amounting to Rs 560 milon The Balance Sheets of the two companies as on 31st March, 2019 are given below Odd Lid. (Rs. In million) Even Ltd. (Rs. In million) Liabilities: Share Capital Reserve and Suplus Loan Funds Creditors 500 200 2540 750 1400 680 3030 3200 1650 Total 7890 Assets: FIxed Assets Investments Inventones Debtors Loans and Advances Other Assets Total 1430 650 630 2580 925 100 320 560 1260 1340 7890 165 960 3030 Additional Information: 1. Even Lid borrowed Rs 1000 milion from Odd Ltd on 1st April 2019 at 10% per annum The loan amount and interest thereon are due to be paid 2 Odd Lid bought goods from Even Lid for Rs 200 million during the yoar. Even Lid charged a margin of 25% on cost Out of these goods, 1/4th is still unsold 3. The debtors for Even Lid incude an amount of Rs. 140 milion receivables from Odd Lid You are required to prepare consolidated balance sheet.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Google Amizone Am Q6 Odd Lld acquired the entire equity sharo capital of Even Ltd on 1st January 2019 for a consideration of Rs. 600 million Al the time of acqusition, the share capital of Even Lid consisted of 20 million oquty shares of Rs 10 each The company had reserve and surplus amounting to Rs 560 milion The Balance Sheets of the two companies as on 31st March, 2019 are given below Odd Lid. (Rs. In million) Even Ltd. (Rs. In million) Liabilities: Share Capital Reserve and Surplus Loan Funds 500 2540 3200 200 750 1400 Creditors Total 1650 7890 680 3030 Assets: Fixed Assets Investments Inventories 1430 650 925 100 630 2580 1260 320 560 Debtors Loans and Advances Other Assets 1340 7890 165 960 3030 Total Additional Information: 1. Even Ltd borTowed Rs 1000 million from Odd Ltd on 1st April 2019 at 10% per annum. The loan amount and interest thereon are due to be paid. 2 Odd Ltd. bought goods from Even Ltd for Rs 200 million during the year. Even Lid charged a margin of 25% on cost Out of these goods, 1/4th is still unsold 3. The debtors for Even Ltd include an amount of Rs. 140 million receivables from Odd Ltd You are required to prepare consolidated balance sheet.
Transcribed Image Text:Google Amizone Am Q6 Odd Lld acquired the entire equity sharo capital of Even Ltd on 1st January 2019 for a consideration of Rs. 600 million Al the time of acqusition, the share capital of Even Lid consisted of 20 million oquty shares of Rs 10 each The company had reserve and surplus amounting to Rs 560 milion The Balance Sheets of the two companies as on 31st March, 2019 are given below Odd Lid. (Rs. In million) Even Ltd. (Rs. In million) Liabilities: Share Capital Reserve and Surplus Loan Funds 500 2540 3200 200 750 1400 Creditors Total 1650 7890 680 3030 Assets: Fixed Assets Investments Inventories 1430 650 925 100 630 2580 1260 320 560 Debtors Loans and Advances Other Assets 1340 7890 165 960 3030 Total Additional Information: 1. Even Ltd borTowed Rs 1000 million from Odd Ltd on 1st April 2019 at 10% per annum. The loan amount and interest thereon are due to be paid. 2 Odd Ltd. bought goods from Even Ltd for Rs 200 million during the year. Even Lid charged a margin of 25% on cost Out of these goods, 1/4th is still unsold 3. The debtors for Even Ltd include an amount of Rs. 140 million receivables from Odd Ltd You are required to prepare consolidated balance sheet.
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