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Question

Following is the Balance Sheet of Raj Oil Mills Limited as at March 31, 2016

Particulars Rs.
I. Equity and Liabilities:
1. Shareholders’ funds
a) Share capital
7,90,000
b) Reserves and surplus
35,000
2. Current Liabilities
a) Trade Payables
72,000
Total 8,97,000
II. Assets
1. Non-current Assets
a) Fixed assets
Tangible assets
7,53,000
2. Current Assets
a) Inventories
55,800
b) Trade Receivables
28,800
c) Cash and cash equivalents
59,400
Total 8,97,000

Calculate Current Ratio.

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Solution

Current Assets = Inventories +Trade Receivables + Cash

= 55,800 + 28,800 + 59,400

= Rs 1,44,000

Current Liabilities = Trade Payables = Rs 72,000


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Q.

Following is the Balance Sheet of Mevanca Limited as at 31st March, 2017:

Mevanca Limited BALANCE SHEET
as at 31st March, 2017:
Particulars
Note No.
31st March, 2017
(₹)
31st March, 2016
(₹)
I. EQUITY AND LIABILITIES
1. Shareholders' Funds
(a) Share Capital
3,00,000
1,00,000
(b) Reserves and Surplus
1
25,000
1,20,000
2. Non-Current Liabilities
Long-term Borrowings
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
Fixed Assets
4
3,36,000
1,92,000
2. Current Assets
(a) Inventories
67,000
60,000
(b) Trade Receivables
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

Particulars
31st March, 2017
(₹)
31st March, 2016
(₹)
1. Reserves and Surplus
Surplus, i.e., Balance in Statement of Profit and Loss
25,000
1,20,000
25,000
1,20,000
2. Long-term Borrowings
10% Long-term Loan
80,000
60,000
80,000
60,000
3. Short-term Provisions
Provision for Tax
68,000
70,000
68,000
70,000
4. Fixed Assets
Machinery
3,84,000
2,15,000
Accumulated Depreciation
(48,000)
(23,000)
3,36,000
1,92,000

Additional Information:
(i) Additional loan was taken on 1st July, 2016.
(ii) Tax of ₹ 53,000 was paid during the year.
Prepare Cash Flow Statement.

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