Question

From the Balance Sheets for the years ended March 31, 2016 and 2017, prepare the comparative Balance Sheet of Omega Chemicals Ltd.:

Particulars	Note No.	Rs. in Lakhs
		2017 (Rs.)	2016 (Rs.)
I. Equity and Liabilities
1) Shareholders’ Fund
a) Share capital		5	10
b) Reserve and surplus		3	2
2) Non-current liabilities
Long-term borrowings		5	8
3) Current liabilities
Trade Payable		2	4
Total		15	24
II. Assets
1) Non-current assets
a) Fixed assets
- Tangible assets		14	8
- Intangible assets		3	2
2) Current assets
a) Inventories		5	4
b) Cash and cash equivalents		2	1
Total		24	15

Answer 1

Comparative Balance Sheet of Omega Chemicals Ltd. For the years ended March 31, 2016 and March 31, 2017
Particulars	March 31, 2016	March 31, 2017	Absolute Increase (+) or Decrease (−)	Percentage Increase (+) or Decrease (−)
	(Rs.)	(Rs.)	(Rs.)	%
I. Equity and Liabilities
1) Shareholders’ Fund
(a) Share capital	10	5	5	50.00
(b) Reserve and surplus	2	3	1	50.00
2) Non-current liabilities
Long-term borrowings	8	5	3	37.50
3) Current liabilities
Trade Payable	4	2	2	50.00
Total Liabilities	24	15	9	37.50
II. Assets
1) Non-current assets
(a) Fixed assets
- Tangible assets	14	8	6	42.86
- Intangible assets	3	2	1	33.33
2) Current assets
(a) Inventories	5	4	1	20.00
(b) Cash and cash equivalents	2	1	1	50.00
Total Assets	24	15	9	37.50