BALANCE SHEET as at 31st March, 2017
| Particular | Note No. | 31st March, 2017 Amount (Rs.) | 31st March, 2016 Amount (Rs.) |
| I. EQUITY AND LIABILITIES | |||
| 1. Shareholders’ Funds | |||
| (a) Share Capital | 5,00,000 | 5,00,000 | |
| (b) Reserves and Surplus | 1 | 1,00,000 | (25,000) |
| 2. Non-Current Liabilities | |||
| Long-term Borrowings | 2 | 2,50,000 | 1,50,000 |
| 3. Current Liabilities | |||
| (a) Short-term Borrowings | 3 | 1,50,000 | 1,10,000 |
| (b) Short-term Provisions | 4 | 1,25,000 | 75,000 |
| Total | 11,25,000 | 8,00,000 | |
| II. ASSETS | |||
| 1. Non-Current Assets | |||
| Fixed Assets Tangible | 5 | 6,00,000 | 4,50,000 |
| 2. Current Assets | |||
| (a) Trade Receivables | 2,75,000 | 2,25,000 | |
| (b) Cash and Cash Equivalents | 50,000 | 25,000 | |
| (c) Short-term Loans and Advances | 2,00,000 | 1,00,000 | |
| Total | 11,25,000 | 8,00,000 |
Notes to Accounts
| Particular | 31st March, 2017 Amount (Rs.) | 31st March, 2016 Amount (Rs.) | |
| 1. | Reserves and Surplus | ||
| Surplus, i.e., Balance in Statement of Profit and Loss | 1,00,000 | (25,000) | |
| 1,00,000 | (25,000) | ||
| 2. | Long-term Borrowings | ||
| 10% Debentures | 2,50,000 | 1,50,000 | |
| 2,50,000 | 1,50,000 | ||
| 3. | Short-term Borrowings | ||
| Bank Overdraft | 1,50,000 | 1,00,000 | |
| 1,50,000 | 1,00,000 | ||
| 4. | Short-term Provisions | ||
| Provision for Tax | 1,25,000 | 75,000 | |
| 1,25,000 | 75,000 | ||
| 5. | Tangible Assets | ||
| Machinery | 7,37,500 | 5,25,000 | |
| Accumulated Depreciation | (1,37,500) | (75,000) | |
| 6,00,000 | 4,50,000 |
Note: Proposed Dividend for the years ended 31st March, 2016 and 2017 are Rs. . 50,000 and Rs. . 75,000 respectively.
Additional Information: Rs. 1,00,000, 10% Debentures were issued on 31st March, 2017
SOLUTION
