The following are the extract of balance sheet of P Ltd., and its subsidiary Q Ltd., as at 31 March 2024: Particulars P Ltd. ₹ Q Ltd. ₹ I Equity…

Consolidated Balance Sheet of P Ltd. and its Subsidiary Q Itd. as on 31.3.2024 Sr. No. Particulars Note No. ₹ I. Equities & Liabilities (1) Shareholder's funds (a) Share Capital 1 16,00,000 (b) Reserve & surplus 2 2,39,600 (c) Minority interest 55,600 (2) Current liability (a) Other current liabilities (30,00,000+19,20,000) 49,20,000 Total 68,15,200 II. Assets (1) (a) PPE (10,00,000 + 3,80,000 + 80,000 – 4,000) 14,56,000 (b) Goodwill 99,200 (2) Current Assets (a) Other current assets (32,40,000 + 20,20,000) 52,60,000 Total 68,15,200 Notes to accounts: Particulars ₹ (1) Share capital Authorized share capital - Issued, subscribed & paid-up capital 16,000 equity shares of 100each 16,00,000 (2) Reserve & Surplus Profit & Loss A/c (W.N. 5) 2,39,600 Working Notes: 1. Shareholding Held by P Ltd. Minority interest 3,600 shares (90%) 400 shares (10%) 2. Analysis of profit Profit & Loss A/c Particulars ₹ Particulars ₹ To Bal. c/d 80,000 By Bal. b/d 32,000 By Profit 48,000 80,000 80,000 Particulars Capital profit Revenue profit Opening balance in P&L A/c 32,000 Profit during the year 48,000 Revaluation of equipment (W.N.6) 80,000 Short depreciation on equipment (4,000) Total 1,12,000 44,000 Q Ltd. (Minority) (10%) 11,200 4,400 P Ltd. (90%) 1,00,800 39,600 3. Cost of Control Particulars Computation ₹ Cost of investment As per balance sheet 5,60,000 Less: Dividend out of pre-acquisition profit (A) - 5,60,000 Share in net assets of Q Itd. Share capital 4,00,000 × 90% 3,60,000 Capital profit W.N. 2 1,00,800 (B) 4,60,800 Goodwill A – B 99,200 4. Calculation of Minority Interest Particulars Computation ₹ Share capital 4,00,000 × 10% 40,000 Capital profit WN 2 11,200 Revenue profit WN 2 4,400 Total i + ii + iii 55,600 5. P Ltd. Particulars General Reserve Profit & Loss A/c Balance As Per Balance sheet - 2,00,000 Share in profit of Q Itd. - 39,600 Total - 2,39,600 6. Appreciation / Depreciation on revalued asset Particulars ₹ Book value as on 31.3.24 (as per b/s) 3,80,000 Book value as on 1.4.23 (Given) 4,00,000 Depreciation (iii) 20,000 Depreciation rate (iii/ii×100%) 5% Revaluation of asset (ii + 20%) 4,80,000 Revaluation reserve 80,000 Depreciation on revalued asset 24,000