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Q1.

Following are Balance Sheets of ABC Ltd as at 31st December :


Liabilities 1991 1992 Assets 1991 1992
Eq Sh. Capital 3,00,0 3,00,0 Goodwill 1,15,00 90,00
8% 00 00 Land & Bldg 0 0
Debentures 1,50,0 1,00,0 Plant 2,00,00 1,70,00
General 00 00 Debtors 0 0
Reserve 40,00 70,0 Stock 80,000 1,00,00
P & L A/c 0 00 Bills 1,60,00 0
Prop. Dividend 30,00 48,0 Receivable 0 2,00,00
Creditors 0 00 Cash 77,000 0
Bills payable 42,00 50,0 Bank 20,000 1,09,00
Prov for 0 00 15,000 0
taxation 55,00 83,0 10,000 30,00
0 00 0
20,00 16,0 10,00
0 00 0
40,00 50,0 8,000
0 00
6,77, 7,17, 6,77,0 7,17,0
000 000 00 00

Q2. Balance Sheets of Sagar Ltd. are as follows:-


Balance Sheet as on 31st December
Liabilities 2001 2002 Assets 2001 2002
Rs. Rs. Rs. Rs.
Equity share 150,0 250,0 Goodwill 55,00 45,00
cap. 00 00 Land & Building 0 0
General --- 30,00 Plant & 80,00 90,00
Reserves --- 0 Machinery 0 0
Profit & Loss A/c 100,0 29,00 Stock 40,00 100,0
Debentures 00 0 Debtors 0 00
Sundry 57,00 --- Bills Receivable 42,00 53,00
Creditors 0 46,00 Prepaid exp. 0 0
Bills payable 30,00 0 Cash in Hand 90,00 98,00
Provision for Tax 0 6,00 Profit & Loss 0 0
Proposed 0 A/c 8,000 12,00
Dividend 25,00 6,000 0
0 10,00 4,00
20,00 0 0
0 6,000 4,00
0
--
337,0 406,0 337,0 406,0
00 00 00 00

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