Session Tutorial 1 Notes
Session Tutorial 1 Notes
Session Tutorial 1 Notes
Following are the financial statements of PQR limited for the year ending 31.03.2020 (all figures in Rs.
Lacs):
Balance Sheet of PQR ltd. for the years ending 31.03.2020 and 31.03.2019: Assets
Non-Current Assets
Property, Plant and Equipment 600.00 380.00
Loans to Subsidiaries 50.00 40.00
Following additional information is available for the financial year ending
31.03.2020: Investments 60.00 70.00
1. During the year, 20 lakh equity shares of Rs.10 each were issued at a premium Total Non-Current Assets 710.00 490.00
of Rs.5 per share Current Assets
2. Tax paid during the year amounted to Rs.15 lacs
Inventory 50.00 80.00
3. Other expense includes loss on sale of machine of Rs.10.00 lacs. The machine
was sold for Rs.40.00 lacs. Trade Receivables 110.00 55.00
4. The book value of investments sold was Rs.30.00 lacs Cash and Cash Equivalents 60.00 10.00
5. Dividend paid during the year: Rs.10 lacs Prepaid Expenses 17.00 0
Accrued Interest on Loan to Subsidiaries 3.00 5.00
Total Current Assets 240.00 150.00
Total Assets 950.00 640.00
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