Following balances have been extracted from the books of Rama Ltd. On 31st March, 2019: Equity Share Capital (1,00,000 Equity Shares of Rs 10 each) Rs 10,00,000, Securities Premium Reserve Rs 2,00,000, 12% Debentures Rs 4,00,000, Creditors Rs 2,00,000, Provision for Tax Rs 50,000, Surplus, i.e., Balance in Statement of Profit and Loss (Debit) Rs 50,000, Land and Building Rs 9,00,000, Government Bonds Rs 5,00,000, Capital Work-in-Progress (Building) Rs 3,50,000 and Cash at Bank Rs 50,000.
Debentures were issued on 1st April, 2017 redeemable after 5 years, i.e., on 31st March, 2022. Prepare Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013.
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The following balances have been extracted from the books of Vanity Ltd. as at 31
st
March, 2017:
Trial Balance as at 31
st
March, 2017
Particulars Debit
(Rs.) Credit
(Rs.)
Equity Share Capital (5,000 share of Rs.100
each fully paid) 5,00,000
Fixed Assets 7,30,000
Reserves Surplus 2,00,000
Inventories 50,000
Cash and Bank Balances 1,70,000
Creditors 40,000
Bill Payable 20,000
Underwriting Commission on issue of shares 10,000
5% Debentures (
5
1
of the Debentures to be redeemed
on 31
st
March, 2018) 2,00,000
Proposed Dividend 12,000
Interest accrued and due on 5% Debentures 8,000
Trade Receivables 20,000
TOTAL
9,80,000
9,80,000
You are required to prepare as at 31
st
March, 2017:
(i) The Balance Sheet of Vanity Ltd. as per Schedule III of the Companies Act, 2013
(ii) Notes to Accounts.
Hard
Solution
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BALANCE SHEET As On 31st March 2017
S. No. Particulars Note No. 31.3.17 31.3.16
1.
2.
3. EQUITY and LIABILITIES
Shareholder's funds
a) Share Capital
b) Reserves and Surplus
Non Current Liabilities
Long term Borrowings
(5% Debentures)
Current Liabilities
a) Trade Payables
b) Other Current Liabilities
c) Short term Provisions
1
2
3
4
5
6
500000
190000
160000
60000
48000
12000
TOTAL 970000
1.
2. ASSETS
Non Current Assets
Fixed Assets
Current Assets
a) Inventories
b) Trade Receivables
c) Cash and Bank Balance
730000
50000
20000
170000
TOTAL 970000