Page 46 - 16. COMPILER QB - INDAS 103
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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
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