Based on the following, answer the question:
Balance Sheet of Pioneer Ltd., as on March 31, 2017
|
Particulars
|
Note
|
31st March 2017 (₹)
|
31st March 2016 (₹)
|
|
I. Equity and Liabilities
|
|
|
|
|
1. Shareholders Funds
|
|
|
|
|
a) Share Capital
|
1
|
7,00,000
|
5,00,000
|
|
b) Reserve and Surplus
|
2
|
4,20,000
|
2,50,000
|
|
2. Non-current Liabilities
|
|
|
|
|
Long term borrowings: Bank Loan
|
|
50,000
|
1,00,000
|
|
3. Current Liabilities
|
|
|
|
|
a) Trade payables
|
|
45,000
|
50,000
|
|
b) Other current liabilities: Outstanding rent
|
|
7,000
|
5,000
|
|
c) Short-term provisions
|
3
|
50,000
|
30,000
|
|
Total
|
|
12,72,000
|
9,35,000
|
|
II. Assets
|
|
|
|
|
1. Non-current assets
|
|
|
|
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a) Fixed assets
|
|
|
|
|
(i) Tangible assets
|
4
|
5,00,000
|
5,00,000
|
|
(ii) Intangible assets
|
5
|
95,000
|
1,00,000
|
|
b) Non-current investments
|
|
1,00,000
|
….
|
|
2. Current assets
|
|
|
|
|
a) Inventories
|
|
1,30,000
|
50,000
|
|
b) Trade receivables
|
|
1,20,000
|
80,000
|
|
c) Cash and Cash equivalents
|
6
|
3,27,000
|
2,05,000
|
|
Total
|
|
12,72,000
|
9,35,000
|
Notes to Accounts:
|
Particulars
|
31st March 2017 (₹)
|
31st March 2016 (₹)
|
|
1. Equity share capital
|
7,00,000
|
5,00,000
|
|
2. Reserve and Surplus
|
|
|
|
Surplus: i.e., Balance in statement of Profit and Loss
|
4,20,000
|
2,50,000
|
|
3. Short term provision:
|
|
|
|
Provision for Taxation
|
50,000
|
30,000
|
|
4. Fixed Assets
|
|
|
|
Tangible assets
|
|
|
|
- Equipment
|
2,30,000
|
2,00,000
|
|
- Furniture
|
2,70,000
|
3,00,000
|
|
|
5,00,000
|
5,00,000
|
|
5. Intangible Assets
|
|
|
|
Patents
|
95,000
|
1,00,000
|
|
6. Cash and Cash equivalents
|
|
|
|
i) Cash
|
27,000
|
5,000
|
|
ii) Bank balance
|
3,00,000
|
2,00,000
|
|
|
3,27,000
|
2,05,000
|
During the year, equipment costing ₹80,000 was purchased. Loss on sale of equipment amounted to ₹5,000. Depreciation of ₹15,000 and ₹30,000 charged on equipment’s and furniture. Proposed Dividend for the year 2015-16 was ₹50,000. |
