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  3. q3. on 31" march 2021 m itd purchased 5,000 shares

Q3. On 31" March 2021 M Itd purchased 5,000 shares of Rs. 10...

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Q3. On 31" March 2021 M Itd purchased 5,000 shares of Rs. 10 each fully paid in N ltd. of Rs. 10 each. The debtors of M Itd included Rs. 5,000 due from N itd. Following is the summarized Balance sheet of M Ltd and N Ltd on 31.3.2021 M Ltd N Ltd Assets M Ltd N Ltd Liabilities Equity Share capital (Rs 10 each) General Reserves Profit and Loss Creditors 65,000 11,000 2,00,000 50,000 65,000 15,000 60,000 Buildings 6,000 Sundry Assets 20,000 Shares in N Ltd 5,000 Debtors 1,50.000 50,000 1,10,000 20,000 15,000 3,30,000 91,000 3,30,000 91,000 Prepare a consolidated Balance Sheet as on 31 March 2021 showing your working notes clearly, (12 marks

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