Question
QFrom the following Balance sheet of a concern for the years 2021 and 2022. Prepare a comparative Balance sheet and comment on the financial position
QFrom the following Balance sheet of a concern for the years 2021 and 2022. Prepare a comparative Balance sheet and comment on the financial position of the concern:
| Liabilities | 2021 | 2022 | Assets | 2021 | 2022
|
| Equity Share capital
| 6,00,000 | 8,00,000 | Land & Buildings
| 3,70,000 | 2,70,000
|
| Reserves & Surplus
| 3,30,000 | 2,22,000 | Plant & machinery
| 4,00,000
| 6,00,000 |
| Debentures | 2,00,000 | 3,00,000 | Furniture & Fixtures
| 20,000 | 25,000
|
| Long-term loans on mortgage
| 1,50,000 | 2,00,000 | Other fixed assets
| 25,000 | 30,000
|
| Bills payable | 50,000 | 45,000 | Cash in hand and bank
| 20,000 | 80,000
|
| Sundry creditors
| 1,00,000 | 1,20,000 | Bills receivable
| 1,50,000 | 90,000
|
| Other current Liabilities
| 5,000 | 10,000 | Sundry Debtors
| 2,00,000 | 2,50,000
|
|
|
|
| Stock | 2,50,000 | 3,50,000
|
|
|
|
| Prepaid Expenses
|
| 2,000
|
|
| 14,35,000
| 16,97,000 |
| 14,35,000 | 16,97,000 |
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
