The fixed assets and equities of Castern Manufacturing Co. Ltd. is supplied to you both at the
Question:
The fixed assets and equities of Castern Manufacturing Co. Ltd. is supplied to you both at the beginning and at the end of the year 2004-05 as follow.
Particulars 1.04.04 31.03.05 Amount (Rs.) Amount (Rs.)
Plants less depreciation 1,63,500 2,42,500 Investment in Shares of S. Ltd. 1,32,000 2,90,000 Bonds payable 2,50,000 70,000 Capital stock 5,00,000 5,00,000 Retained Earnings 2,38,000 4,10,500 You are not in a position to have complete income statement or balance sheet. The following information is availaible.
(a) Dividend of Rs. 37,000 were paid.
(b) The net income included Rs. 13,000 as profit on the sale of equipment. There has been an increase of Rs. 93,000 in the value of gross plant assets though equipment worth Rs. 29,000 with a net book value of Rs. 19,000 was disposed off.
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