In continuation of Case 5.1 given in Chapter 5, you are required to prepare the balance sheet of Asian Paints Limited for the year ended 31st March 2017. The relevant information extracted from the books of accounts of the company are stated below:

Case 5.1

In each of the following cases ascertain the amount to be charged as expenses in the statement of profit and loss for the year 2016–17: 

1. Premises taken on rent on 1st August 2016 by paying a deposit of ₹ 10 million. Quarterly rent of ₹ 300,000 paid on 1st August and 1st November each. Rent due on 1st February not paid till 31st March 2017. 

2. Paid towards salaries to employees ₹ 60.30 million. It includes a sum of ₹ 4.85 million as advance to employees against salary. 

3. Debtors outstanding as on 31st March 2017 amounted to ₹ 305 million. Based upon the past trend the company estimates that 2% of the debtors will default on payment. 

4. Goods bought during the year 2015–16 amounting to ₹ 12.23 million were actually paid for in the year 2016–17. 

5. Special goods were ordered on 15th December 2015 with advance payment of ₹ 3 million. The same were received and consumed during 2016–17.

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Particulars Accumulated amortization Accumulated depreciation Advances received from customers Advances to employees Assets held for sale Balances with government authorities Bank balance other than cash and cash equivalents Borrowings current Capital advances-non current Capital redemption reserve Capital work in progress Cash and cash equivalents Current advances Current loans given Current tax liabilities Current tax assets Current trade receivables Debt Instruments through OCI Deferred tax liabilities Equity Instruments through OCI Equity share capital Finished goods General Reserve Goodwill Investment-non-current Investments-current Miscellaneous current assets (in Crore) Particulars 50 479 10 6 1 107 144 27 173 1 220 61 102 14 55 37 1,007 4 261 111 96 1,233 4,167 36 1,455 1,315 17 Non-current loans given Non-current borrowings Non-current provision for other post-retirement benefits Other current financial assets Other current financial liabilities Other current liabilities Other Intangible assets-gross Other non-current advances Other non-current financial assets Other non-current financial liabilities Other non-current liabilities Packing material Property, plant and equipment (gross) Provision for compensated absence-current Provision for doubtful trade receivables Provisions for excise and sales tax-current Provisions for pension-current Provisions for pension- non-current Provisions for compensated absence-non current Raw material Retained earnings Statutory payables-current Stock-in-trade Stores, spares and consumables Trade payables-current Work-in-progress (in Crore) 70 10 4 474 880 206 107 27 198 2 4 36 2,991 13 12 22 12 2 104 598 2,573 196 186 66 1,671 75