the data given ahead were provided by the accounting records of shuchi diamonds ltd 609935

Liabilities

2011

2010

Assets

2011

2010

Share Capital:

2,32,500

1,57,500

Plant Assets

3,57,500

2,52,500

Reserves and Surplus

70,000

66,000

Less: Accumulated

(51,500)

(34,000)

Depreciation

Current Liabilities:

3,06,000

2,18,500

Account Payable

25,000

21,500

Investment (Long Term)

57,500

63,500

Accrued Liabilities

6,000

4,500

Current Assets:

Income Tax Payable

1,500

2,500

Inventory

72,000

55,000

Secured Loan:

Accounts Receivable

23,500

27,500

Bonds

1,97,500

1,22,500

Cash

23,000

7,500

Prepaid Expenses

500

2,500

4,82,500

3,74,500

4,82,500

3,74,500

Rs.

Sales

3,49,000

Cost of Goods Sold

(2,60,000)

Gross Margin

89,000

Operating Expenses

(73,500)

(Including Depreciation Expenses of 18,500)

15,500

Other Income (Expenses):

Interest Expenses Paid

(11,500)

Interest Income Received

3,000

Gain on Sale of Investments

6,000

Loss on Sale of Plant

(1,500)

(4,000)

Provision Before Tax

11,500

Provision for tax

(3,500)

Provision After Tax

8,000