Mevanca Limited BALANCE SHEET as at 31st March, 2017:
| Particulars | Note No. | 31st March, 2017 Amount (Rs.) | 31st March, 2016 Amount (Rs.) |
| I. EQUITY AND LIABILITIES | |||
| 1. Shareholders’ Funds | |||
| (a) Share Capital | 3,00,000 | 1,00,000 | |
| (b) Reserves and Surplus | 1 | 25,000 | 1,20,000 |
| 2. Non-Current Liabilities | |||
| Long-term Borrowings | 2 | 80,000 | 60,000 |
| 3. Current Liabilities | |||
| (a) Trade Payables | 6,000 | 20,000 | |
| (b) Short-term Provisions | 3 | 68,000 | 70,000 |
| Total | 4,79,000 | 3,70,000 | |
| II. ASSETS | |||
| 1. Non-Current Assets | |||
| Fixed Assets | 4 | 3,36,000 | 1,92,000 |
| 2. Current Assets | |||
| (a) Inventories | 67,000 | 60,000 | |
| (b) Trade Receivables | 51,000 | 65,000 | |
| (c) Cash and Cash Equivalents | 25,000 | 49,000 | |
| (d) Other Current Assets | … | 4,000 | |
| Total | 4,79,000 | 3,70,000 |
Notes to Accounts
| Particulars | 31st March, 2017 Amount (Rs.) | 31st March, 2016 Amount (Rs.) |
| 1. Reserves and Surplus | ||
| Surplus, i.e., Balance in Statement of Profit and Loss | 25,000 | 1,20,000 |
| 25,000 | 1,20,000 | |
| 2. Long-term Borrowings | ||
| 10% Long-term Loan | 80,000 | 60,000 |
| 80,000 | 60,000 | |
| 3. Short-term Provisions | ||
| Provision for Tax | 68,000 | 70,000 |
| 68,000 | 70,000 | |
| 4. Fixed Assets | ||
| Machinery | 3,84,000 | 2,15,000 |
| Accumulated Depreciation | (48,000) | (23,000) |
| 3,36,000 | 1,92,000 |
Additional Information:
(i) Additional loan was taken on 1st July, 2016. (ii) Tax of Rs. 53,000 was paid during the year.
Prepare Cash Flow Statement.
SOLUTION
