consolidated to prepare a consolidated profit amp loss a c for the year ended 31 dec 608552
Consolidated to prepare a consolidated profit & loss A/c for the year ended 31 December 2010, suitable for incorporation in the published accounts of A Ltd which will not include a separate P&L A/c for the holding company.
|
Particulars |
A Ltd.Rs. |
B Ltd.Rs. |
|
P&L A/c Balance as 1 |
7,20,000 |
3,00,000 |
|
January 2010 |
||
|
Trading Profit |
14,20,000 |
8,00,000 |
|
Dividends (Gross) from B Ltd (Preference) |
1,08,000 |
— |
|
Dividends (Gross) from B Ltd (Ordinary) |
1,50,000 |
— |
|
23,98,000 |
11,00,000 |
|
|
Depreciation |
2,40,000 |
80,000 |
|
Debentures Interest |
2,00,000 |
— |
|
Taxation |
4,40,000 |
3,00,000 |
|
Director’s Emoluments |
1,40,000 |
60,000 |
|
Dividends Paid: |
— |
60,000 |
|
6% Preference: |
— |
60,000 |
|
On 30 |
||
|
JuneOn 31 December |
||
|
Ordinary Shares: |
||
|
Interim on 30 June |
2,40,000 |
1,00,000 |
|
Final on 31December |
2,40,000 |
1,00,000 |
|
P&L A/c Balance as on 31 December 2010 |
8,98,000 |
3,40,000 |
|
23,98,000 |
11,00,000 |
|
|
Information Relating toShare Capital: |
||
|
Ordinary Shares of Rs.1 Each Fully Paid |
80,00,000 |
40,00,000 |
|
6% Preference Shares of Rs.1 Fully Paid |
— |
20,00,000 |
|
Shares in B Ltd Held by A Ltd: |
||
|
Ordinary Shares |
— |
30,00,000 |
|
Acquired on 1 July 2010 |
||
|
Preference Shares |
— |
18,00,000 |
|
Acquired on 1 January2010 |
Income and expenditure are deemed to accrue evenly throughout the year. All dividends are payable out of the current year’s profits. The directors of B Ltd. resigned on 1 July 2010 and were replaced on that day by directors of A Ltd who are to receive the same remuneration as the former directors.