Question

(as per AS-3)for the year ended 31" March 2020 from the following
Balance Sheet as at 31" March 2020:
6
Particulars
Note 315 March 31st March 2019
No
2020
I EQUITY AND LIABILITIES
1. Shareholder's Fund
a) Share Capital
6,00,000 4,00,000
b) Reserves & Surplus
2,00,000 1,00,000
2. Non Current Liabilities
Long term Borrowings
1,00,000 2,00,000
3. Current Liabilities
a) Short term borrowings(bank loan)
10,000
b) Trade Payables
45,000 60,000
c) Short term provision
70,000
40,000
TOTAL
10,15,000 8,10,000
II. ASSETS
1.
Non Current Assets
a) Fixed Assets
i. Tangible(Building)
6,00,000
ii.
6,00,000
Intangible(Patents)
45,000
b) Non-current Investments
50,000
2. Current Assets
75,000
a) Inventories
15,000
b) Trade Receivables(Debtors)
10,000
c) Cash & Cash Equivalents
1.95,000 1,20,000
85.000
TOTAL
30.0.0.0
10,15,000 8,10,000
Notes to accounts
Particulars
31 March
2020
31 March 2019
1.Short term provision
Provision for Tax
70,000
40,000
Additional Information
1. Building was purchased for Rs 75,000.
2. An old building, the book value of which was Rs63,000 was sold at a loss of Rs 5,000.
3. Tax provided during the year was Rs 80,000.
4. Dividend proposed for the year ended 31" March 2019 and 2020 are R$60,000 & Rs 80,000
respectively​

Answer 1

Answer:

short term borrowing (bank loan)

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