Based on the information provided below, compute and answer.
Comparative Balance Sheet of Amrit Limited as at March 31, 2023 and March 31, 2024.
(₹ in Lakhs)
| Particulars | 31 March, 2023 |
31 March, 2024 |
Absolute Increase (+) or Decrease (-) |
Percentage Increase (+) or Decrease (-) |
| I. Equity and Liabilities | ||||
| Shareholders' funds | ||||
| Share capital | 15 | 20 | 5 | ........ |
| Reserves and surplus | 14 | ............ | (1) | (7.14) |
| Non- Current liabilities | ||||
| Long-term borrowings | .............. | 19 | 3 | 18.75 |
| Current liabilities | ||||
| Trade payables | 2 | 3 | 1 | 50 |
| Total | 47 | 55 | 8 | 17.02 |
| II. Assets | ||||
| Non-current assets | ||||
| Fixed assets | ||||
| Tangible assets | 15 | ............ | 5 | 33.33 |
| Intangible assets | 16 | 19 | 3 | 18.75 |
| Current assets | ||||
| Inventories | 14 | 13 | (1) | (7.14) |
| Cash and Cash Equivalents | 2 | 3 | 1 | .......... |
| Total | 47 | 55 | 8 | 17.02 |
Value of reserves and surplus on 31 March 2024 stood at:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → ₹13,00,000
A figure in brackets in the change column is a decrease. The 2024 figure is therefore the 2023 figure less that amount.
Reserves and surplus on March 31, 2023 = 14 lakhs
Change = (1), a decrease of 1 lakh
Reserves and surplus on March 31, 2024 = 14 − 1 = 13 lakhs = ₹13,00,000
The percentage column confirms it: 1 ÷ 14 × 100 = 7.14%, shown as (7.14).
The book’s version has the years March 31, 2016 and 2017; the figures are the same.
NCERT (2026-27 edition):
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