PQR Ltd.

Wednesday, 2 August 2023 11:57 PM

Following are the financial statements of PQR limited for the year ending 31.03.2020 (all figures in Rs.
Lacs):

Income Statement of PQR ltd. for the year ending 31.03.2020:

As on 31.03.2020 As on 31.03.2019
Details Amount Equity and Liabilities
Revenue from Sale and Services 250.00 Equity
Gain on sale of investments 20.00 Share Capital 500.00 300.00
Interest on loan given to subsidiaries 5.00 Other Equity (Retained Earnings) 260.00 140.00
Total Incomes (A) 275.00 Total Equity 760.00 440.00
Non-Current Liabilities
Expenses (B) Term Loan from Banks 80.00 90.00
Cost of material consumed 110.00 Total Non-Current Liability 80.00 90.00
Employee Compensation Expenses 35.00 Current Liabilities
Depreciation and Amortization 25.00 Short Term Credit from Bank 40.00 50.00
Finance Costs 10.00 Trade Payables 20.00 30.00
Other Expenses 40.00 220.00 Outstanding Expenses 10.00 0
Profits Before Taxes (A – B) 55.00 Provision for Taxes 40.00 30.00
Less: Tax Expense for the year 25.00 Total Current Liability 110.00 110.00
Profits after Taxes 30.00 Total Equity and Liabilities 950.00 640.00

Balance Sheet of PQR ltd. for the years ending 31.03.2020 and 31.03.2019: Assets
Non-Current Assets
Property, Plant and Equipment 600.00 380.00
Loans to Subsidiaries 50.00 40.00
Following additional information is available for the financial year ending
31.03.2020: Investments 60.00 70.00
1. During the year, 20 lakh equity shares of Rs.10 each were issued at a premium Total Non-Current Assets 710.00 490.00
of Rs.5 per share Current Assets
2. Tax paid during the year amounted to Rs.15 lacs
Inventory 50.00 80.00
3. Other expense includes loss on sale of machine of Rs.10.00 lacs. The machine
was sold for Rs.40.00 lacs. Trade Receivables 110.00 55.00
4. The book value of investments sold was Rs.30.00 lacs Cash and Cash Equivalents 60.00 10.00
5. Dividend paid during the year: Rs.10 lacs Prepaid Expenses 17.00 0
Accrued Interest on Loan to Subsidiaries 3.00 5.00
Total Current Assets 240.00 150.00
Total Assets 950.00 640.00

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