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From the Balance Sheet given below, calculate: (1) Total Fixed Assets(2) Total Current Assets(3) Total Current Liabilities Balance Sheet as at 31st March 2017LiabilitiesRs.AssetsRs.Trade Creditors42,000Stock In Hand48,000Expenses Accrued3,200Debtors36,000Bank Overdraft4,800Prepaid Expenses400Long Term Loan20,000Goodwill20,000Interest on Loan1,000Land20,000Capital93,400Plant32,000Furniture8,000 |
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Answer» (i) Total Fixed Assets = Goodwill + Land + Plant + Furniture =20,000 + 20,000 + 32,000 + 8,000 = Rs. 80,000 (ii) Total Current Assets = Stock in hand + Debtors + Prepaid Expenses =48,000 + 36,000 + 400 = Rs. 84,400 (iii) Total Current Liabilities = Trade Creditors + Expenses Outstanding + Bank Overdraft = 42,000+ 3,200 + 4,800 = Rs. 50,000 |
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