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Model Test Papers M.133

Notes to Accounts
Particulars 31st March, 31st March,
2018 (`) 2017 (`)
1. Share Capital
Equity Share Capital 20,00,000 20,00,000
12% Preference Share Capital 10,00,000 10,00,000
30,00,000 30,00,000
2. Reserves and Surplus
Surplus, i.e., Balance in Statement of Profit and Loss 9,00,000 5,00,000
3. Long-term Borrowings
10% Debentures 10,00,000 10,00,000
4. Other Current Liabilities
Unclaimed Dividend (Equity) 60,000 ...
Outstanding Expenses 40,000 70,000
1,00,000 70,000
5. Short-term Provisions
Provision for Tax 50,000 30,000

Additional Information:
1. During the year, a Machinery costing ` 4,00,000, on which depreciation charged was
` 2,20,000, was sold at a profit of ` 60,000.

2. Depreciation charged on machinery was ` 7,00,000.
3. During the year, the company declared Interim Dividend @ 10%. It did not propose final
dividend on Equity Shares but paid Preference Dividend. (6)