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Following is the Balance Sheet of Computer India Ltd. Balance Sheet Capital and Liabilities2010 (Rs.)2011 (Rs.)Assets2010 (Rs.)2011 (Rs.)Equity Share Capital40,00050,000Fixed Assets41,00040,000Profit and Loss Account1,0001,200(-)Provision for Depreciation11,000––––––––15,000––––––––General Reserve2,0002,50030,00025,00010 % Debemtures6,0006,500Debtors20,00024,000Sundry Creditors12,00011,000Stock30,00035,000Provision for Taxation3,0004,200Prepaid Expenses300500Proposed Dividend5,0005,800Cash1,2003,500Bank Overdraft12,5006,800¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯81,500––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯88,000––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯81,500––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯88,000–––––––– Additional Information: Interest paid on debenture Rs. 600. |
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Answer» Following is the Balance Sheet of Computer India Ltd. Balance Sheet Capital and Liabilities2010 (Rs.)2011 (Rs.)Assets2010 (Rs.)2011 (Rs.)Equity Share Capital40,00050,000Fixed Assets41,00040,000Profit and Loss Account1,0001,200(-)Provision for Depreciation11,000––––––––15,000––––––––General Reserve2,0002,50030,00025,00010 % Debemtures6,0006,500Debtors20,00024,000Sundry Creditors12,00011,000Stock30,00035,000Provision for Taxation3,0004,200Prepaid Expenses300500Proposed Dividend5,0005,800Cash1,2003,500Bank Overdraft12,5006,800¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯81,500––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯88,000––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯81,500––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯88,000–––––––– Additional Information: Interest paid on debenture Rs. 600. |
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