model revaluation of assets ndash profits the following are the balance sheets of p 608503

Model: Revaluation of assets–profits The following are the balance sheets of P Ltd. and its subsidiary Q Ltd. as at 31 March 2011:

Liabilities	P Ltd. Rs.	Q Ltd. Rs.	Assets	P Ltd. Rs.	Q Ltd. Rs.
Equity Shares off100	16,00,000	4,00,000	Equipment	10,00,000	3,80,000
Each
Profit & Loss A/c	2,00,000	80,000	Investment:
External Liabilities	30,00,000	19,20,000	3,600 Equity Shares in Q	5,60,000	—
			Ltd. on 1 April 2010
			Other Assets	32,40,000	20,20,000
	48,00,000	24,00,000		48,00,000	24,00,000

On 1 April, 2010 P&L A/c of Q Ltd. showed a credit balance of Rs.32,000 and equipment of Q Ltd. was revalued by P Ltd. 20% above its book value of Rs.4,00,000 (but no such adjustment effected in the books of Q Ltd). Prepare the consolidated balance sheet as at 31 March 2011.