. X Ltd. had the following figures on 1st Jan., 2002: Fixed Assets 6,00,000 Less : Depreciation 2,10,000 3,90,000 Bank Balance 35,000 Current Assets other than Bank 2,50,000 Capital (Share of 100 each) 3,00,000 Current Liability 1,00,000 The company made the following estimates for 2002: (i) The profit would be 55,000 after depreciation of 60,000. ) (ii) The company will acquire fixed assets costing 1,00,000 after selling one machine for $20,000 costing 50,000 and on which depreciation provided amounted to 35,000. (ii) Current Assets and Current Liability other than bank balance are expected to be 2,95,000 and 1,30,000 respectively.
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