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Model Test Papers M.417

2. Trade Payables
Creditors 4,50,000 5,00,000
Bills Payable 2,50,000 1,50,000
7,00,000 6,50,000
3. Short-term Provisions
Provision for Tax 2,50,000 1,50,000

Note: Proposed Dividend for the years ending 31st March, 2017 and 2018 were ` 1,20,000 and
` 1,50,000 respectively.
Additional Information:
1. During the year ` 50,000 depreciation was charged on fixed assets.
2. Tax provided during the year ` 2,00,000.
3. 10% Debentures were issued on 1st April, 2017 and further Bank loan was raised
on the same date. (6)