The following is the balance sheet of Nokia
ltd. as on 31st March 2018
Liabilities Rs. Assets Rs.
Authorised capital Goodwill 1,50,000
(10,000 shares of Sundry assets 8,99,500
Rs. 100 each) 10,00,000 Cash 500
Issued and Preliminary
subscribed : expenses 25,000
7,000 shares of Profit and
Rs. 100 each Loss a/c 1,95,000
fully paid 7,00,000
Bank overdraft 2,00,000
Creditors 3,70,000
12,70,000 12,70,000
The company having now turned the corner,
the directors expect it to earn good profit in
future. You are asked to submit a scheme of
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