The following balances were extracted from the books of Raman Ltd. on 31st March, 2018: Fixed Assets (Tangible) Rs.10,00,000; Non-Current Investment Rs.10,00,000; Inventories Rs.10,000; Trade Receivables Rs.1,80,000; Reserves and surplus (Negative Balance) Rs.1,20,000; share Capital Rs.18,00,000; Long-Term Borrowings Rs.2,50,000; Long-Term Provision Rs.1,50,000; Short- term Borrowings Rs.1,00,000; Trade Payables Rs.50,000; Short-term Provisions Rs.10,000, Cash and Cash Equivalents Rs.50,000. Prepare
Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013.
Answers
ANSWER
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
Notes To Accounts:
Particulars Amount Amount
1. Share Capital
Authorized Capital
........ Equity Shares @ Rs. 100
Issued Capital
........ Equity Shares @ Rs. 100
Subscribed Capital
Subscribed and Fully Paid Up
5000 Equity Shares @ 10 Rs. 100
( ___ )
( ___ )
( ___ )
( ___ )
500000
2. Reserves and Surplus
less: Underwriting Commission 200000
(10000)
190000
3. Long term Borrowings
5 % Debentures
160000
4. Trade Payables
Creditors
Bills Payable
40000
20000
5. Other Current Liabilities
Current Maturity of Long Term Debts-
5% Debentures
Interest accrued and Due on
5% Debentures
40000
8000
6. Short term Provisions
Proposed Dividend
12000