BALANCE SHEET OF COMPANY CODE 1000. (Buying Company)
Net Fixed Assets | 3,958,858 |
Capital Work In Progress | -5,319,554 |
Deferred Revenue Expenditure | 397,854 |
Investments | 404 |
SUB TOTAL (Non-Current Assets) | -962,439 |
CURRENT ASSETS |
|
Steel Stocks | 6,598,832 |
Metals, Paints and Other Materials | 7,756,152 |
Spares | 7,199,534 |
Local Debtors (Third Party) | 616,312 |
Export Debtors (Third Party) | 159,505 |
Export Debtors (Related Parties) | 24,329,293 |
Advance Corporate Tax | 40,918 |
VAT Receivables | 0 |
Other Current Assets | 57,365,637 |
Cash And Bank Balances(ONLY POSITIVE) | -31,925,312 |
SUB TOTAL (Current Assets) | 72,140,871 |
CURRENT LIABILITIES |
|
Bank Overdraft | 396,341,126 |
Other Short Term Borrowings | 0 |
Local Creditors (Third Party) | 3,584,707 |
Local Creditors (Related Parties) | 37,830 |
Foreign Creditors (Third Party) | 58,709,866 |
Foreign Creditors (Related Parties) | 340,873 |
Dividends Payable | 0 |
VAT Payables | -34,110,133 |
Tax Payable | -1,413,158 |
Other Current Liabilities | -377,753,126 |
SUB TOTAL(Current Liabilities) | 45,737,984 |
NET WORKING CAPITAL | 26,402,886 |
TOTAL (Assets) | 25,440,448 |
Shareholders Funds |
|
Share Capital | 3,657,406 |
Share Premium | 4,637,478 |
Revaluation Reserve | 6,041,594 |
Retained Earnings | -24,046,424 |
Current Year P & L Account | -5,255,968 |
Other Revenue Reserves | 7,349,656 |
SUB TOTAL(Shareholders Funds) | -7,616,257 |
Long Term Borrowings( Only with Credit Balance) | 18,356,377 |
Deferred Tax | 14,700,328 |
SUB TOTAL | 33,056,705 |
TOTAL (Liabilities) | 25,440,448 |
BALANCE SHEET OF COMPANY CODE 2000. (Selling Company)
NON-CURRENT ASSETS |
|
Net Fixed Assets | 70,862,754 |
Capital Work In Progress | 5,533,695 |
Deferred Revenue Expenditure | -276,751 |
Investments | 483,776 |
SUB TOTAL (Non-Current Assets) | 76,603,475 |
CURRENT ASSETS |
|
Steel Stocks | 31,047,728 |
Metals, Paints and Other Materials | 124,521 |
Spares | -340,673 |
Local Debtors (Third Party) | 10,398,415 |
Export Debtors (Third Party) | -117,132 |
Export Debtors (Related Parties) | 2,875,251 |
Advance Corporate Tax | 2,417,616 |
VAT Receivables | 0 |
Other Current Assets | -55,936,338 |
Cash And Bank Balances(ONLY POSITIVE) | 32,948,311 |
SUB TOTAL (Current Assets) | 23,417,699 |
CURRENT LIABILITIES |
|
Bank Overdraft | -394,537,343 |
Other Short Term Borrowings | 11,800,031 |
Local Creditors (Third Party) | -1,883,514 |
Local Creditors (Related Parties) | 42,824 |
Foreign Creditors (Third Party) | 174,652 |
Foreign Creditors (Related Parties) | -4,605 |
Dividends Payable | -1 |
VAT Payables | 33,254,055 |
Tax Payable | 1,413,158 |
Other Current Liabilities | 384,715,712 |
SUB TOTAL(Current Liabilities) | 34,974,969 |
NET WORKING CAPITAL | -11,557,271 |
TOTAL (Assets) | 65,046,204 |
Shareholders Funds |
|
Share Capital | 13,957,687 |
Share Premium | -4,637,478 |
Revaluation Reserve | 867,583 |
Retained Earnings | 36,089,296 |
Current Year P & L Account | 18,579,967 |
Other Revenue Reserves | -753,973 |
SUB TOTAL(Shareholders Funds) | 64,103,082 |
Long Term Borrowings( Only with Credit Balance) | -2,697,734 |
Deferred Tax | 3,640,856 |
SUB TOTAL | 943,122 |
TOTAL (Liabilities) | 65,046,204 |
NOW I am acquiring all the balances of Company Code 2000 for Company Code 1000. Below is the result of Acquisition for the Balance sheet for Company Code 1000.
NON-CURRENT ASSETS |
|
Net Fixed Assets | 74,821,612 |
Capital Work In Progress | 214,141 |
Deferred Revenue Expenditure | 121,104 |
Investments | 484,180 |
SUB TOTAL (Non-Current Assets) | 75,641,036 |
CURRENT ASSETS |
|
Steel Stocks | 37,646,560 |
Metals, Paints and Other Materials | 7,880,672 |
Spares | 6,858,861 |
Local Debtors (Third Party) | 11,014,621 |
Export Debtors (Third Party) | 42,373 |
Export Debtors (Related Parties) | 27,204,544 |
Advance Corporate Tax | 2,458,534 |
VAT Receivables | 0 |
Other Current Assets | 1,429,299 |
Cash And Bank Balances(ONLY POSITIVE) | 1,022,999 |
SUB TOTAL (Current Assets) | 95,558,463 |
CURRENT LIABILITIES |
|
Bank Overdraft | 1,803,783 |
Other Short Term Borrowings | 11,800,031 |
Local Creditors (Third Party) | 1,702,608 |
Local Creditors (Related Parties) | 80,653 |
Foreign Creditors (Third Party) | 58,884,518 |
Foreign Creditors (Related Parties) | 336,268 |
Dividends Payable | -1 |
VAT Payables | -856,078 |
Tax Payable | 0 |
Other Current Liabilities | 6,961,065 |
SUB TOTAL(Current Liabilities) | 80,712,848 |
NET WORKING CAPITAL | 14,845,616 |
TOTAL (Assets) | 90,486,652 |
Shareholders Funds |
|
Share Capital | 17,615,093 |
Share Premium | 0 |
Revaluation Reserve | 6,909,177 |
Retained Earnings | 12,042,872 |
Current Year P & L Account | 13,323,999 |
Other Revenue Reserves | 6,595,683 |
SUB TOTAL(Shareholders Funds) | 56,486,825 |
Long Term Borrowings( Only with Credit Balance) | 15,658,643 |
Deferred Tax | 18,341,184 |
SUB TOTAL | 33,999,827 |
TOTAL (Liabilities) | 90,486,652 |
Based on information want to book Profit for Company Code 2000. Assuming profit for the sale is 1, 000, 000. (1 Million)
Dr Company Code 1000 1,000,000
Cr Assets Company code 2000 100021174
Dr Liabilities Company Code 2000 100021174
Cr Profit on Sale Company Code 1000 1,000,000
From Here can u continue.
Thanks.