Compal Lid. acquired the whole of the Star Ltd. Sun Ltd. Rs. Assets Star Ltd Sun Ltd. Rs. Liabilities Rs. Rs. Buildings re capital: 0,000 shares fRs. 50 each 10,00,000, 0,000 shares fRs. 5 each 6,00,000 2,00,000 3,00,000 1,00,000 1,00,000 1,50,000 50,000 Machinery Stock Debtors - 90,000 4,00,000 Investments in 40,000 shares of Sun Ltd. 5,00,000| 3,00,000 eral reserve & Loss A/d 2,00,000| 1,60,000 | Cash at Bank 50,000 1,20,000 ditors 1,00,000 60,000 16,00,000 6,60,000 16,00,000 6,60,000- Relance of Profit & Loss A/c of Sun Ltd. on 1.1.95 was Rs. 80,000. Sun Ltd. a dividend of 10% in March 1995 for the year 1994 which was credited by Star to its Profit & Loss A/c. -kof Star Ltd. includes Rs. 20,000 goods which were purchased from Sun Ltd. at ofit of 20% on sale value. w consolidated Balance Sheet as on 31st December 1995. [Marathwada, B.Com., adapted] [Ans: Capital profit – Rs. 80,000; Revenue profit - Rs. 1,20,000; Capital reserve – Rs. 20,000; Balance Sheet total - Rs. 17,56,000]
Compal Lid. acquired the whole of the Star Ltd. Sun Ltd. Rs. Assets Star Ltd Sun Ltd. Rs. Liabilities Rs. Rs. Buildings re capital: 0,000 shares fRs. 50 each 10,00,000, 0,000 shares fRs. 5 each 6,00,000 2,00,000 3,00,000 1,00,000 1,00,000 1,50,000 50,000 Machinery Stock Debtors - 90,000 4,00,000 Investments in 40,000 shares of Sun Ltd. 5,00,000| 3,00,000 eral reserve & Loss A/d 2,00,000| 1,60,000 | Cash at Bank 50,000 1,20,000 ditors 1,00,000 60,000 16,00,000 6,60,000 16,00,000 6,60,000- Relance of Profit & Loss A/c of Sun Ltd. on 1.1.95 was Rs. 80,000. Sun Ltd. a dividend of 10% in March 1995 for the year 1994 which was credited by Star to its Profit & Loss A/c. -kof Star Ltd. includes Rs. 20,000 goods which were purchased from Sun Ltd. at ofit of 20% on sale value. w consolidated Balance Sheet as on 31st December 1995. [Marathwada, B.Com., adapted] [Ans: Capital profit – Rs. 80,000; Revenue profit - Rs. 1,20,000; Capital reserve – Rs. 20,000; Balance Sheet total - Rs. 17,56,000]
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![on 31st Dec. 1995 were as under.
Liabilities Star Ltd. Sun Ltd.
Rs.
Assets
Star Ltd Sun Ltd.
Rs.
Rs.
Rs.
Share capital:
20,000 shares
of Rs. 50 each 10,00,000
Buildings
Machinery
6,00,000 2,00,000
3,00,000 1,00,000
1,00,000 1,50,000
50,000
Stock
Debtors
80,000 shares
90,000
4,00,000 Investments in
of Rs. 5 each
3,00,000
|
40,000 shares of Sun Ltd.
5,00,000
50,000 1,20,000
General reserve
Cash at Bank
1,00,000 60,000
Creditors
16,00,000 6,60,000
16,00,000 6,60,000-
Belence of Profit & Loss A/c of Sun Ltd. on 1.1.95 was Rs. 80,000. Sun Ltd.
eda dividend of 10% in March 1995 for the year 1994 which was credited by Star
Ltd. to its Profit & Loss A/c.
Stock of Star Ltd. includes Rs. 20,000 goods which were purchased from Sun Ltd. at
a profit of 20% on sale value.
Show consolidated Balance Sheet as on 31st December 1995.
[Marathwada, B.Com., adapted]
[Ans: Capital profit – Rs. 80,000; Revenue profit – Rs. 1,20,000;
Capital reserve – Rs. 20,000; Balance Sheet total - Rs. 17,56,000]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3fd13afa-3b86-43a5-9eef-a8beb6e73f92%2Fdb6a3c1e-8b7d-4d01-9f04-83076bcee471%2Flv1hvbq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:on 31st Dec. 1995 were as under.
Liabilities Star Ltd. Sun Ltd.
Rs.
Assets
Star Ltd Sun Ltd.
Rs.
Rs.
Rs.
Share capital:
20,000 shares
of Rs. 50 each 10,00,000
Buildings
Machinery
6,00,000 2,00,000
3,00,000 1,00,000
1,00,000 1,50,000
50,000
Stock
Debtors
80,000 shares
90,000
4,00,000 Investments in
of Rs. 5 each
3,00,000
|
40,000 shares of Sun Ltd.
5,00,000
50,000 1,20,000
General reserve
Cash at Bank
1,00,000 60,000
Creditors
16,00,000 6,60,000
16,00,000 6,60,000-
Belence of Profit & Loss A/c of Sun Ltd. on 1.1.95 was Rs. 80,000. Sun Ltd.
eda dividend of 10% in March 1995 for the year 1994 which was credited by Star
Ltd. to its Profit & Loss A/c.
Stock of Star Ltd. includes Rs. 20,000 goods which were purchased from Sun Ltd. at
a profit of 20% on sale value.
Show consolidated Balance Sheet as on 31st December 1995.
[Marathwada, B.Com., adapted]
[Ans: Capital profit – Rs. 80,000; Revenue profit – Rs. 1,20,000;
Capital reserve – Rs. 20,000; Balance Sheet total - Rs. 17,56,000]
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