Page 17 - 30. COMPILER QB - IND AS 101

Advances for purchase of inventory 50,00,000 50,00,000
Current Assets
Debtors 2,00,000 2,00,000

Inventory 8,00,000 8,00,000
Cash 49,000 49,000
Total assets 2,42,99,000 20,00,000 2,62,99,000
Non-current Liabilities
Deferral loan 3 60,00,000 (22,74,472) 37,25,528

Deferred government Grant 3 0 22,74,472 22,74,472
Current Liabilities
Creditors 30,00,000 30,00,000
Short term borrowing 8,00,000 8,00,000
Provisions 12,00,000 12,00,000

Total liabilities 1,10,00,000 1,10,00,000
Share capital 1,30,00,000 1,30,00,000
Reserves:
Cumulative translation difference 5 1,00,000 (1,00,000) 0
ESOP reserve 4 20,000 1,000 21,000

Other reserves 6 1,79,000 20,99,000 22,78,000
Total equity 1,32,99,000 20,00,000 1,52,99,000
Total equity and liabilities 2,42,99,000 20,00,000 2,62,99,000

Q10 (October 20 – 20 Marks)

Shaurya Limited is the company having its registered and corporate office at New Delhi. 60% of the Shaurya
Limited’s shares are held by the Government of India and the rest by other investors.
This is the first time that Shaurya limited would be applying Ind AS for the preparation of its financials for
the current financial year 2019-2020. Following balance sheet is prepared as per earlier GAAP as at the
beginning of the preceding period along with the additional information:

Balance Sheet as at 31 March 2018
(All figures are in ’000, unless otherwise specified)
Particulars Amount
EQUITY AND LIABILITIES
(1) Shareholders’ Funds
(a) Share Capital 10,00,000
(b) Reserves & Surplus 25,00,000
(2) Non-Current Liabilities
(a) Long Term Borrowings 4,50,000
(b) Long Term Provisions 3,50,000

(c) Deferred tax liabilities 3,50,000
(3) Current Liabilities
(a) Trade Payables 22,00,000
(b) Other Current Liabilities 4,50,000
(c) Short Term Provisions 12,00,000
30. 16