Illustration 13 The Balance Sheet of Symphony Ltd as on 30 June, 2017 and 30 June, 2018 are given below: Balance Sheet of Symphony Ltd. as at 30th June, 2017 and 2018 Note 30.06.2017 30.06.2018 Particulars No (3) (1) (2) (3) 1. EQUITY AND LIABILITIES (1) Shareholders' Funds (a) Share Capital (1) 6,00,000 7.00,000 (b) Reserves and Surplus (2) 2,85,000 4.50,000 (2) Share Application Money Pending Allotment: (3) Non-current Liabilities: (a) Long-term borrowings -8% Debentures 3,00,000 2,00,000 (4) Current Liabilities: (a) Short-term Borrowings (b) Trade Payables - Creditors for Goods 1,60,000 250,000 (c) Other Current Liabilities - Creditors for Expenses 10,000 12,000 (d) Short-term Provisions (3) 1,00,000 1,10,000 TOTAL 14,55,000 17.22,000 II. ASSETS (1) Non-current Assets : (a) Fixed Assets Tangible Assets (Net Block) (4) 8.00.000 9,50,000 (b) Non-current investment - at Cost 1,80,000 180,000 (2) Current Assets (a) Current Investments a (b) Inventories - Stock-in-Trade 2,00,000 2.50,000 (c) Trade Receivables (5) 2,63,000 3.27,000 (d) Cash and Cash Equivalents 10,000 10,000 (e) Short-term loans and advances Other current assets - Prepaid Expenses 2,000 5,000 TOTAL 14,55,000 17 22.000 Notes to Accounts: Particulars 30.06.2017 30.06.2018 (1) (1) Share Capital issued, Subscribed and Paid-up Capital: Equity Shares of 10 each 5,00,000 6.50,000 Redeemable Preference Shares 1,00,000 50,000 6,00,000 7,00,000 (2) Reserve and Surplus General Reserve 200.000 250,000 () Profit on Sale of Investments 10.000 (m) Profit and Loss Account 85.000 190,000 285.000 450,000 (3) Short-term Provisions Proposed Dividend 30,000 35.000 @) Provision for Taxation 70.000 75.000 1,00.000 1.10,000 e22 (4) Tangible Assets Plant and Machinery (at Cost) 10,00,000 12,00,000 Less: Provision for Depreciation 2,00.000 2,50,000 Net Block 8,00,000 9,50,000 (5) Trade Receivables () Debtors 2.25,000 2,65,000 (ii) Bills Receivable 38.000 62.000 2.63,000 3.27.000 Other information (a) During 2017-18 Plant and Machinery (present book value * 10,000: depreciation written-off 30,000) was sold for 8,000. (b) The dividend proposed in last year was paid in 2017-18. (c) During 2017-18 investments costing 80,000 were sold and investments of the same cost were purchased. %