prepare a balance sheet of black swan ltd., as at march 31,2017 from the following information: general reserve :3,000 10% debenture : 3,000 balance in statement of profit and 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
Answers
Answer:
Explanation:
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
SOLUTION
Extract of Balance Sheet
as at March 31,2017
Particulars Note No. Amount (Rs.)
I. Equity and Liabilities
1. Shareholders’ Funds
a. Share Capital 1 5,000
b. Reserves and Surplus 2 4,200
2. Non-Current Liabilities
a. Long-term Borrowings 3 3,000
3. Current Liabilities 2,500
Total 14,700
II. Assets
1. Non-Current Assets
a. Fixed Assets
i. Tangible Assets 4 8,300
2. Current Assets
a. Cash and Cash Equivalents 5 6,100
b. Other Current Assets 6 300
Total 14,700
Notes to Accounts
Particulars Amount (Rs.)
1. Share Capital
6% Preference Share Capital 5,000
2.Reserve and Surplus
General Reserve 3,000
Statement of Profit or Loss 1,200 4,200
3.Long Term Borrowings
10% Debentures 3,000
4. Tangible Assets
Fixed Assets 9,000
Less: Depreciation 700 8,300
5.Cash and Cash Equivalents
Cash 6,100
6. Other Current Assets
Preliminary Expenses 300