Following is the Balance Sheet of Mevanca Limited as at 31st March, 2017
Mevanca Ltd.
Balance Sheet as at 31st March, 2017
| Particulars | Note No. | 31.3.2017 (₹) |
31.3.2016 (₹) |
|---|---|---|---|
| I. EQUITY AND LIABILITIES: | |||
| 1. Shareholder’s Fund: | |||
| a. Share Capital | 3,00,000 | 1,00,000 | |
| b. Reserve and Surplus | 1 | 25,000 | 1,20,000 |
| 2. Non-Current Liabilities: | |||
| Long Term Borrowing | 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: | |||
| a. Fixed Assets: | 4 | 3,36,000 | 1,92,000 |
| b. Non-current Investments | |||
| 2. Current Assets: | |||
| a. Inventory | 67,000 | 60,000 | |
| b. Trade Receivable | 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
| Note Number | Particulars | 31.3.2017 (₹) |
31.3.2016 (₹) |
|---|---|---|---|
| 1 | Reserves and Surplus | ||
| Surplus (Balance in Statement of Profit & Loss) | 25,000 | 1,20,000 | |
| 2 | Long Term Borrowings | ||
| 10% Long Term Loan | 80,000 | 60,000 | |
| 3 | Short-term Provisions | ||
| Provision for Tax | 68,000 | 70,000 | |
| 4 | Tangible Assets: | ||
| Machinery | 3,84,000 | 2,15,000 | |
| Accumulated depreciation | (48,000) | (23,000) | |
| Total | 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.
Marks-6, CBSE:2017-18/Comp/Q-23