Question 5 The summarized Balance Sheets of Super Limited and Clear Limited as on 31st March,2024 is as below: Particulars Note Super Limited ` Clear Limited ` Equity and Liabilities Shareholders’ Funds (a) Share Capital 1 95,00,000 50,00,000 (b) Reserves and Surplus 2 25,75,000 12,25,000 Non-Current Liabilities (a) Long term borrowings 3 5,00,000 2,00,000 Current Liabilities (a) Short term borrowings 4,50,000 - (b) Trade Payables 3,65,000 2,45,000 Total 1,33,90,000 66,70,000 Assets Non-current assets (a) Property, Plant and Equipment 4 77,00,000 54,00,000 (b) Non-Current Investment 5 41,50,000 - Current Assets (a) Inventories 6,75,000 5,65,000 (b) Trade Receivables 5,85,000 4,90,000 (c) Cash and Cash equivalents 2,80,000 2,15,000 Total 1,33,90,000 66,70,000 Notes to Accounts: Particulars Super Limited ` Clear Limited ` 1. Share Capital 8,00,000 Equity Shares of ` 10 each fully paid up 80,00,000 5,00,000 Equity Shares of ` 10 each fully paid up - 50,00,000 15,000 Preference Shares of ` 100 each fully paid up 15,00,000 - 95,00,000 50,00,000 2. Reserves and Surplus General Reserve 15,50,000 6,50,000 Profit and Loss Account 10,25,000 5,75,000 25,75,000 12,25,000 3. Long term borrowing 10% Debentures 5,00,000 - 9% Debentures - 2,00,000 4. Property, Plant & Equipment Land & Building 65,00,000 45,50,000 Plant & Machinery 9,50,000 6,75,000 Furniture & Fittings 2,50,000 1,75,000 77,00,000 54,00,000 5. Non–Current Investment Investment in Clear Limited 41,50,000 - Additional Information: (a) Super Limited holds 75% of Equity Shares in Clear Limited since the incorporation of Clear Limited. (b) 25% of Trade Receivables of Super Limited is due from Clear Limited. ADVANCED ACCOUNTING (c) During the year Super Limited sold inventory costing ` 2,00,000 to Clear Limited at a price of 15% above cost. The entire inventory remains unsold with Clear Limited at the end of financial year. You are required to prepare Consolidated Balance Sheet of Super Limited and Clear Limited as on 31st March, 2024. (14 Marks)