46. The following are the comparative Balance Sheet of Ashish Ltd. as
on 31st Dec.2003 and 2004.
Balance Sheet
Liabilities 2003 2004 Assets 2003 2004
Share capital
(share of Rs.10 each) 4,50,000 4,70,000 Building 2,00,000 2,50,000
Profit & Loss A/c 50,400 52,800 Stock 2,40,000 2,13,500
9% Debentures 60,000 30,000 Goodwill 56,000 25,000
Creditors 51,600 59,200 Cash 42,000 35000
Investment 43,000 44000
Debtors 31,000 44,500
6,12,000 6,12,000 5,12,000 5,12,000
Depreciation on building 25,000. Building valued 45000 was sold for 46,000. Investment worth of 12000 was sold at 10% profit. Tax paid 7500.