Following was the Balance Sheet of M.M. Ltd as at 31st March, 2023:
| Particulars | 31st March, 2023 (₹) |
31st March, 2022 (₹) |
| I. EQUITY AND LIABILITIES | ||
| 1. Shareholder’s Funds (a) Share Capital (b) Reserves and Surplus |
5,00,000 2,00,000 |
4,00,000 (50,000) |
| Non-Current Liabilities Long-term Borrowings |
4,50,000 | 4,50,000 |
| 2. Current Liabilities (a) Short-term Borrowings (b) Short-term Provisions |
1,50,000 70,000 |
1,00,000 90,000 |
| Total | 13,70,000 | 9,90,000 |
| II. Assets | ||
| 1. Non-Current Assets (a) Property, Plant and Equipment and Intangible Assets: (i) Property, Plant and Equipment (ii) Intangible Assets (b) Non-Current Investments |
10,03,000 20,000 1,00,000 |
7,20,000 30,000 75,000 |
| 2. Current Assets (a) Current Investments (b) Inventories (c) Cash and Cash Equivalents |
350,000 1,07,000 90,000 |
60,000 45,000 60,000 |
| Total | 13,70,000 | 9,90,000 |
| Particulars | 31st March, 2023 (₹) |
31st March, 2022 (₹) |
| Reserves and Surplus Surplus, i.e., Balance in Statement of Profit & Loss |
2,00,000 | (50,000) |
| 2,00,000 | (50,000) | |
| Long-term Borrowings 12% Debentures |
4,50,000 | 4,50,000 |
| 4,50,000 | 4,50,000 | |
| Short-term Borrowings Current Maturities of Long-term Debts (12% Debentures) Bank Overdraft |
– 1,50,000 |
50,000 50,000 |
| 1,50,000 | 1,00,000 | |
| Short-term Provisions Provision for Tax |
70,000 | 90,000 |
| 70,000 | 90,000 | |
| Property, Plant and Equipment Machinery Less: Accumulated Depreciation |
12,03,000 (2,00,000) |
8,21,000 (1,01,000) |
| 10,03,000 | 7,20,000 | |
| Intangible Assets Goodwill |
20,000 | 30,000 |
| 20,000 | 30,000 | |
| Inventories Stock-in-Trade |
1,07,000 | 45,000 |
| 1,07,000 | 45,000 |
Solution :
