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Question

From the Balance Sheet given below, calculate:
(i) Fixed Assets
(ii) Current Assets
(iii) Current Liabilities
(iv) Working Capital
Balance Sheet
as at 31st March, 2018
Liabilities
₹
Assets
₹
Trade Creditors
42,000
Stock in Hand
48,000
Expenses Accrued
3,200
Debtors
36,000
Bank Overdraft
4,800
Prepaid Expenses
400
Long-Term Loan
20,000
Goodwill
20,000
Interest on Loan
1,000
Land
20,000
Capital
93,400
Plant
32,000
Furniture
8,000
1,64,400
1,64,400

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Solution

(i) Fixed Assets=Land+Plant+Furniture+Goodwill =20,000+32,000+8,000+20,000=Rs 80,000(ii) Current Assets=Stock+Debtors+Prepaid Expenses =48,000+36,000+400=Rs 84,400(iii) Current Liabilities=Creditors+Expenses Accrued+Bank Overdraft+Interest on Loan =42,000+3,200+4,800+1,000=Rs 51,000(iv) Working Capital=Current AssetsCurrent Liabilities =84,40051,000=Rs 33,400

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