Following is the Balance Sheets of Akash Ltd. as at 31-3-2014.
Akash Ltd.
Balance Sheet
| Particulars | Note No. | 31.3.2014 (₹) |
31.3.2013 (₹) |
|---|---|---|---|
| I. EQUITY AND LIABILITIES: | |||
| 1. Shareholder’s Fund: | |||
| a. Share Capital | 15,00,000 | 14,00,000 | |
| b. Reserve and Surplus | 1 | 2,50,000 | 1,10,000 |
| 2. Non-Current Liabilities: | |||
| Long Term Borrowing | 2,00,000 | 1,25,000 | |
| 3. Current Liabilities: | |||
| Short Term Borrowings | 2 | 12,000 | 10,000 |
| b. Trade Payables | 15,000 | 83,000 | |
| c. Short term Provisions | 3 | 18,000 | 11,000 |
| TOTAL | 19,95,000 | 17,39,000 | |
| II. ASSETS : | |||
| 1. Non-Current Assets: | |||
| a. Fixed Assets: | |||
| i. Tangible Assets | 4 | 18,60,000 | 16,10,000 |
| ii. Intangible Assets | 5 | 50,000 | 30,000 |
| b. Non-current Investments | |||
| 2. Current Assets: | |||
| Current Investments | 8,000 | 5,000 | |
| b. Inventory | 37,000 | 59,000 | |
| c. Trade Receivable | 26,000 | 23,000 | |
| d. Cash and Cash Equivalents | 14,000 | 12,000 | |
| TOTAL | 19,95,000 | 17,39,000 |
Notes to Accounts
| Note Number | Particulars | 31.3.2014 (₹) |
31.3.2013 (₹) |
|---|---|---|---|
| 1 | Reserves and Surplus | ||
| Surplus (Balance in Statement of Profit & Loss) | 2,50,000 | 1,10,000 | |
| 2 | Short Term Borrowings | ||
| Bank Overdraft | 12,000 | 10,000 | |
| 3 | Short-term Provisions | ||
| Provision for Tax | 18,000 | 11,000 | |
| 4 | Tangible Assets: | ||
| Machinery | 20,00,000 | 17,00,000 | |
| Accumulated depreciation | (1,40,000) | (90,000) | |
| 5 | Intangible Assets: | ||
| Patents | 50,000 | 30,000 |
Additional Information:
(i) Tax paid during the year amounted to16,000.
(ii) Machine with a net book value of 10,000 (Accumulated Depreciation 40,000) was sold for 2,000.
Prepare Cash Flow Statement.
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Marks-6, CBSE:2016-17/Sample/Q-23
