Question

Prepare a balance sheet of Black Swan Ltd., as at March 31, 2017 form the following information General Reserve 3,000 10% Debentures 3,000 Statement of Profit & Loss 1,200 Depreciation on fixed assets 700 Gross Block 9,000 Current Liabilities 2,500 Preliminary Expenses 300 6% Preference Share Capital 5,000 Cash & Cash Equivalents 6,100

Answer 1

Given : Black Swan Ltd., as at March 31, 2017 form the following information General Reserve 3,000 10% Debentures 3,000 Statement of Profit & Loss 1,200 Depreciation on fixed assets 700 Gross Block 9,000 Current Liabilities 2,500 Preliminary Expenses 300 6%………..

 

Concept :  

Under Equity and liabilities heading in a Balance sheet :  

1. Shareholders funds :

• Share capital
• Reserves and surplus
• Money received against share warrants  

2. Share application money pending allotment

3. Non current liabilities :

• Long term borrowings
• Deferred tax liabilities
• Other long term liabilities
• Long term provisions

4. Current liabilities :  

• Short term borrowings
• Trade payables
• Other current liabilities
• Short term provisions

Under Assets heading in a Balance sheet :  

1. Non current assets :

• (A) Fixed assets -  

1. Tangible assets
2. Intangible assets
3. Capital work in progress
4. Intangible assets under development

• (B) non current Investments
• (C) deferred tax assets
• (D) Long term loans and advances
• (E) Other non current Assets

2. Current assets :  

• Current Investments
• Inventories
• Trade receivables
• Cash and cash equivalents
• Short term loans and advances
• Other current assets

For the above the following items in the balance sheet are in the attachment below :  

Hope this answer will help you..

Some more questions of this chapter :  

Show the following items in the balance sheet as per the provisions of the Companies Act, 2013 in Schedule III Particulars Rs. Particulars Rs. Preliminary Expenses 2,40,000 Good will 30,000 Discount on issue of shares 20,000 Loose tools 12,000 10% Debentures 2,00,000 Motor Vehicles 4,75,000 Stock in Trade 1,40,000 Provision for tax 16,000 Cash at bank 1,35,000 Bills receivable 1,20,000

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Following are the balance sheets of Beta Ltd. at March 31st, 2016 and 2017: Particulars 2017 Rs. 2016 Rs. I. Equity and Liabilities Equity share capital 4,00,000 3,00,000 Reserves and surplus 1,50,000 1,00,000 Loan from IDBI 3,00,000 1,00,000 Short-term borrowings 70,000 50,000 Trade payables 60,000 30,000 Short-term provisions 10,000 20,000 Other current liabilities 1,10,000 1,00,000 Total 11,00,000 7,00,000 II. Assets Fixed assets 4,00,000 2,20,000 Non-current investments 2,25,000 1,00,000 Current investments 80,000 60,000 Stock 1,05,000 90,000 Trade receivables 90,000 60,000 Short term loans and advances 1,00,000 85,000 Cash and cash equivalents 1,00,000 85,000 Total 11,00,000 7,00,000

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