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Question
From the following information prepare the balance sheet of Gitanjali Ltd., as per the (Revised) Schedule VI:
Inventories Rs. 14,00,000; Equity Share Capital Rs. 20,00,000; Plant and Machinery Rs. 10,00,000; Preference Share Capital Rs. 12,00,000; Debenture Redemption Reserve Rs. 6,00,000; Outstanding Expenses Rs. 3,00,000; Proposed Dividend Rs. 5,00,000; Land and Building Rs. 20,00,000; Current Investments Rs. 8,00,000; Cash Equivalent Rs. 10,00,000; Short term loan from Zaveri Ltd. (A Subsidiary Company of Twilight Ltd.) Rs. 4,00,000; Public Deposits Rs. 12,00,000.
Solution
Balance Sheet
as at ...
|
Particulars |
Note No. |
Amount (Rs) |
|
I. Equity and Liabilities |
|
|
|
1. Shareholders’ Funds |
|
|
|
a. Share Capital |
1 |
32,00,000 |
|
b. Reserves and Surplus |
2 |
6,00,000 |
|
2. Non-Current Liabilities |
|
|
|
a. Long-term Borrowings |
3 |
12,00,000 |
|
3. Current Liabilities |
|
|
|
a. Other Current Liabilities |
4 |
3,00,000 |
| b. Short-term Borrowings |
5 |
4,00,000 |
| c. Short-term Provisions |
6 |
5,00,000 |
|
Total |
|
62,00,000 |
|
II. Assets |
|
|
|
1. Non-Current Assets |
|
|
| a. Fixed Assets |
|
|
| i. Tangible Assets |
7 |
30,00,000 |
| ii. Intangible Assets |
|
|
| b. Non-Current Investments |
|
|
|
2. Current Assets |
|
|
|
a. Inventories |
|
14,00,000 |
| b. Current Investments |
|
8,00,000 |
| c. Cash and Cash Equivalents |
|
10,00,000 |
|
Total |
|
62,00,000 |
Notes to Accounts
|
Particulars |
Amount (Rs) |
||
|
1. Share Capital |
|
||
|
Equity Share Capital |
20,00,000 |
|
|
|
Preference Share Capital |
12,00,000 |
32,00,000 |
|
|
|
32,00,000 |
||
|
2.Reserve and Surplus |
|
||
|
Debenture Redemption Reserve |
6,00,000 |
||
|
3. Long-term Borrowings |
|
||
|
Public Deposits |
12,00,000 |
||
|
4. Other Current Liabilities |
|
||
|
Outstanding Expenses |
3,00,000 |
||
|
5. Short-term Borrowings |
|
||
|
Loan from Zaveri Ltd. |
4,00,000 |
||
|
6. Short-Term Provisions |
|
||
|
Proposed Dividend |
5,00,000 |
||
|
7. Tangible Assets |
|
||
|
Land and Building |
20,00,000 |
|
|
|
Plant and Machinery |
10,00,000 |
30,00,000 |
|
|
|
30,00,000 |
||
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