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Accounting for Revaluation of Assets and Reassessment of Liabilities

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Following is the Balance Sheet of R.S. Ltd. as at 31st March, 2016 : 

                               R.S. Ltd. Balance Sheet as at 31-3-2016

                         Particulars

NoteNo.

31-03-2016

(Rs)

31-03-2015

(Rs)

I. Equity and Liabilities :

(1) Shareholder's Funds

     

(a) Share Capital

 

9,00,000

7,00,000

(b) Reserves and Surplus

1

2,50,000

1,00,000

       

(2) Non-current Liabilities

     

Long-term borrowings

2

4,50,000

3,50,000

       

(3) Current Liabilities

     

(a) Short-term borrowings

3

1,50,000

75,000

(b) Short-term provisions

4

2,00,000

1,25,000

Total

 

19,50,000

13,50,000

II. Assets

     

(1) Non-current Assets

     

(a) Fixed Assets

     

(i) Tangible

5

14,65,000

9,15,000

(ii) Intangible

6

1,00,000

1,50,000

       

(b) Non-current Investments

 

1,50,000

1,00,000

       

(2) Current Assets

     

(a) Current Investments

 

40,000

70,000

(b) Inventories

7

1,22,000

72,000

(c) Cash and Cash Equivalents

 

73,000

43,000

Total

 

19,50,000

13,50,000

   

Note

No.

                           Particulars

31-03-2016

(Rs)

31-03-2015

(Rs)

(1)

Reserves and Surplus

 

 

 

(Surplus i.e. Balance in Statement of Profit and Loss)

2,50,000

1,00,000

 

 

2,50,000

1,00,000

 

 

 

 

(2)

Long-term borrowings

 

 

 

12% Debentures

4,50,000

3,50,000

 

 

4,50,000

3,50,000

 

 

 

 

(3)

Short-term borrowings

 

 

 

Bank overdraft

1,50,000

75,000

 

 

1,50,000

75,000

 

 

 

 

(4)

Short-term provisions

 

 

 

Proposed Dividend

2,00,000

1,25,000

 

 

2,00,000

1,25,000

 

 

 

 

(5)

Tangible Assets

 

 

 

Machinery

16,75,000

10,55,000

 

Accumulated Depreciation

(2,10,000)

(1,40,000)

 

 

14,65,000

9,15,000

 

 

 

 

(6)

Intangible Assets

 

 

 

Goodwill

1,00,000

1,50,000

 

 

1,00,000

1,50,000

 

 

 

 

(7)

Inventories

 

 

 

Stock in trade

1,22,000

72,000

 

 

1,22,000

72,000

 

 

Additional Information :

 

(1) Rs 1,00,000, 12% Debentures were issued on 31-3-2016.

 

(2)  During the year a piece of machinery costing Rs 80,000 on which accumulated depreciation was Rs 40,000 was sold at a loss of Rs 10,000.

 

Prepare a Cash Flow Statement.

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