Doubt on consolidation-- plz helb me- CA FINAL

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Querist : Anonymous

Querist : Anonymous (Querist)

08 November 2009 hi i am ca final student

I have a doubt in Consolidation topic, Q.12, in our CA Material. How to compute PRe acquistion profit, any could help me.. Please show the computation

expecting you reply

shakuntala chhangani

shakuntala chhangani (Expert)
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12 November 2009 Hi, can u please give the question along with your query as we do not have CA final study material? Thanks and Regards,
CA Shakuntala Chhangani

Querist : Anonymous

Querist : Anonymous (Querist)

14 November 2009 H ltd acquired 20% shares in s ltd on 1-7-05 for Rs.50 million, then another 20% on 1-10-05 for Rs.60 million and finally another 20% on 1-11-05 for Rs.80 million. S ltd became subsidiary of H ltd on and from 1-1-05. Balance of Reserve of S ltd as on 1-4-05(Rs in million) 60.

Balance sheet of H ltd and S ltd as on 31-3-06 H ltd S ltd
Equitas Share capital 500 200
General Reserve 400 120
Profit & loss 10 12
Sources:
Fixed Asset 800 350
- Acc Dep 100 30
Net Block 700 320
Investment 190
Net current Asset 20 12

Query:

I got all answers correct expect Pre acquistion profit 2005-0. In CA material it has been stated that pre acq profit is RS.19.20 million. But i am not getting it please help me, please send the computation of this problem

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