From the given information about Larsen & Turbo Ltd. For the years that ended on 31...

 

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From the given information about Larsen & Turbo Ltd. For the years that ended on 31 March 2020 and 2021, prepare a comparative balance sheet as on 31 March 2020 and 2021 and interpret the financial position of the company. LIABILITIES Equity Share Capital General Reserves. Creditors Bills Payable Outstanding Expenses 31st 31st March,2020(() March, 2021(*) 5,00,000 40,000 2,40,000 50,000 50,000 8,80,000 6,00,000 50,000 70,000 25,000 NIL 7,45,000 ASSETS Land & Building Plant & Machinery Investments Stock Debtors Bills Receivables Profit & Loss A/C Discount on issue of shares 31st March, 2020(() 2,00,000 1,50,000 2,97,000 40,000 50,000 63,000 70,000 10,000 8,80,000 31st March, 2021() 1,00,000 2,00,000 2,00,000 30,000 50,000 1,00,000 60,000 5,000 7,45,000 [10 Marks] From the given information about Larsen & Turbo Ltd. For the years that ended on 31 March 2020 and 2021, prepare a comparative balance sheet as on 31 March 2020 and 2021 and interpret the financial position of the company. LIABILITIES Equity Share Capital General Reserves. Creditors Bills Payable Outstanding Expenses 31st 31st March,2020(() March, 2021(*) 5,00,000 40,000 2,40,000 50,000 50,000 8,80,000 6,00,000 50,000 70,000 25,000 NIL 7,45,000 ASSETS Land & Building Plant & Machinery Investments Stock Debtors Bills Receivables Profit & Loss A/C Discount on issue of shares 31st March, 2020(() 2,00,000 1,50,000 2,97,000 40,000 50,000 63,000 70,000 10,000 8,80,000 31st March, 2021() 1,00,000 2,00,000 2,00,000 30,000 50,000 1,00,000 60,000 5,000 7,45,000 [10 Marks]

Answer rating: 100% (QA)

Comparative Balance Sheet as at 31 March 2020 and 2021 Descripti... View the full answer