Following is the Balance Sheet of Fine Products Ltd. as at 31st March, 2023:
| Particulars | 31st March, 2023 (₹) |
31st March, 2022 (₹) |
| I. EQUITY AND LIABILITIES | ||
| 1. Shareholder’s Funds (a) Share Capital: Equity Share Capital (b) Reserves and Surplus |
3,50,000 57,000 |
3,00,000 38,000 |
| 2. Current Liabilities (a) Trade Payables (b) Other Current Liabilities (c) Short-term Provisions |
53,000 6,000 32,000 |
35,000 8,000 28,000 |
| Total | 4,98,000 | 4,09,000 |
| II. Assets | ||
| 1. Non-Current Assets (a) Property, Plant and Equipment, and Intangible Assets: (i) Property, Plant and Equipment (ii) Intangible Assets (Goodwill) (b) Non-Current Investments |
2,48,000 40,000 35,000 |
2,00,000 50,000 10,000 |
| 2. Current Assets (a) Inventories (b) Trade Receivables (c) Cash and Bank Balances |
39,000 1,08,000 28,000 |
57,000 75,000 17,000 |
| Total | 4,98,000 | 4,09,000 |
| Particulars | 31st March, 2023 (₹) |
31st March, 2022 (₹) |
| Reserves and Surplus General Reserve Surplus, i.e., Balance in Statement of Profit & Loss |
30,000 27,000 |
20,000 18,000 |
| 57,000 | 38,000 | |
| Short-term Provisions Provision for Tax |
32,000 | 28,000 |
| Property, Plant and Equipment Land and Building Plant and Machinery |
57,000 1,91,000 |
1,10,000 90,000 |
| 2,48,000 | 2,00,000 |
Note: Proposed dividend on equity for the years ended 31st March, 2022 and 2023 are ₹ 39,000 and ₹ 45,000 respectively.
Solution :
