Page 79 - 16. COMPILER QB - INDAS 103

Bills Payable - -
MX Limited 55
8,500 4,100 3,350
LX Limited holds 85% shares in MX Limited, which were acquired on 1st April 2020 and MX Limited holds
60% shares in NX Limited, which were acquired on 30th September 2020.

The following balances stood in the books of MX Limited and NX Limited as on 1st April 2020:
MX Limited NX Limited
Rs in lakh Rs in lakh
Reserves 760 520
Retained earnings 480 150
The business activities of NX Limited are not seasonal in nature.

The parent company has adopted an accounting policy to measure non-controlling interest at fair value
applying Ind AS 103. The fair value is to be determined at quoted market price. The given market price of MX
Limited is Rs 120 per share and NX Limited is Rs 125 per share.
Prepare the consolidated Balance Sheet as on 31st March 2021 of the group of companies LX Limited, MX
Limited and NX Limited.

SOLUTION
Consolidated Balance Sheet of the Group as at 31st March, 2021

Particulars Note No. Rs in lakh
ASSETS
Non-current assets

Property, plant and equipment 1 4,500.00
Current assets
(a) Inventories 2 3,140.00
(b) Financial assets

Trade receivables 3 2,305.00
Bills receivables 4 655.00

Cash and cash equivalents 5 1,325.00
Total assets 11,925.00
EQUITY & LIABILITIES
Equity attributable to owners of parent

Share Capital 3,400.00
Other Equity 6 2,893.10
Non-controlling interests (W.N.4) 1,216.90

LIABILITIES
Current liabilities
(a) Financial Liabilities
7 4,415.00
Trade payables
Total equity and liabilities 11,925.00

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