Page 46 - 16. COMPILER QB - INDAS 103
P. 46

Total Assets

                    Equity & Liabilities
                    Equity Share Capital (Shares of Rs 100)                 15,60,000         6,24,000
                    Other Reserves                                          9,36,000          3,12,000
                                                                             1,78,400         2,55,800
                    Retained Earnings
                                                                             1,46,900          34,300
                    Trade Payables
                                                                            2,49,600           20,000
                    Short-term borrowings
                                                                            30,70,900         12,46,100
                    Total Equity & Liabilities
        (i)  PN Ltd. acquired 70% equity shares of Rs 100 each of SR Ltd. on 1 October 2019.

        (ii)  The Retained Earnings of SR Ltd. showed a credit balance of Rs 93,600 on 1 April 2017 out of which a
            dividend of 12% was paid on 15 December 2019.
        (iii) PN Ltd. has credited the dividend received to its Retained Earnings.
        (iv) Fair value of Plant & Machinery of SR Ltd. as on 1 October 2019 was Rs 6,24,000.   The rate   of
            depreciation on Plant & Machinery was 10% p.a.
        (v)  Following are the increases on comparison of Fair Value as per respective Ind AS with book value as on 1

            October 2019 of SR Ltd. which are to be considered while consolidating the Balance Sheets:
        (a)  Land & Buildings Rs 3,12,000
        (b)  Inventories Rs 46,800
        (c)  Trade Payables Rs 31,200.

        (vi) The inventory is still unsold on Balance Sheet date and the Trade Payables are not yet settled.
        (vii) Other Reserves as on 31 March 2020 are the same as was on 1 April 2019.
        (viii)  The  business  activities  of  both  the  companies  are  not  seasonal  in  nature  and  therefore,  it  can  be
            assumed that profits are earned evenly throughout the year.
        Prepare the Consolidated Balance Sheet as on 31 March 2020 of the group of entities PN Ltd.  and SR Ltd.

        SOLUTION
        Consolidated Balance Sheet of PN Ltd. and its subsidiary SR Ltd. as on 31 March 2020
                                           Particulars                         Note No.       Rs
                   I.   Assets

                       (1)  Non-current assets
                           (i)  Property, Plant & Equipment                      1         26,83,200
                           (ii)  Goodwill                                        2          89,402
                       (2)  Current Assets
                           (i)  Inventories                                      3         5,34,800
                           (ii)  Financial Assets
                                (a)  Trade Receivables                           4          3,11,300
                                (b)  Cash & Cash equivalents                     5           70,100
                                                       Total Assets                        36,88,802
                   II.  Equity and Liabilities
                       (1)  Equity
                           (i)  Equity Share Capital                             6          15,60,000
                           (ii)  Other Equity                                    7          11,39,502
                       (2)  Non-controlling Interest (W.N.3)                                 5,07,300
                       (3)  Current Liabilities
                                                                                                    16. 45
   41   42   43   44   45   46   47   48   49   50   51