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Question
Prepare Balance Sheet of HP Ltd. as at 31st March, 2019 from the following information:
| ₹ | ₹ | |||
| Equity Share Capital | 20,00,000 | Surplus, i.e., Balance in Statement of Profit and Loss (Cr.) | 3,00,000 | |
| 12% Preference Share Capital | 10,00,000 | Stock | 6,00,000 | |
| Fixed Assets (At cost) | 46,60,000 | Sundry Debtors | 8,00,000 | |
| Accumulated Depreciation | 16,60,000 | Cash | 1,50,000 | |
| Investments | 4,00,000 | Loans and Advances | 50,000 | |
| Current Liabilities | 8,00,000 | Provision for Taxation | 2,00,000 | |
| 12% Debentures | 6,00,000 | Workmen Compensation Reserve | 1,00,000 |
Solution
Balance Sheet of HP Ltd.
as at March 31, 2019
|
Particulars |
Note No. |
Amount (₹) |
|
I. Equity and Liabilities |
|
|
|
1. Shareholders’ Funds |
|
|
|
a. Share Capital |
1 |
30,00,000 |
|
b. Reserves and Surplus |
2 |
4,00,000 |
|
2. Non-Current Liabilities |
|
|
|
a. Long-term Borrowings |
3 |
6,00,000 |
|
3. Current Liabilities |
|
|
|
a. Other Current Liabilities |
4 |
8,00,000 |
|
b. Short-term Provisions |
5 |
2,00,000 |
|
Total |
|
50,00,000 |
|
II Assets |
|
|
|
1. Non-Current Assets |
|
|
|
a. Fixed Assets |
|
|
|
i) Tangible Assets |
6 |
30,00,000 |
|
b. Non-Current Investments |
7 |
4,00,000 |
|
2. Current Assets |
|
|
|
a. Inventories |
8 |
6,00,000 |
|
b. Trade Receivables |
9 |
8,00,000 |
|
c. Cash and Cash Equivalents |
10 |
1,50,000 |
|
d. Short-term Loans and Advances |
11 |
50,000 |
|
Total |
|
50,00,000 |
Notes to Accounts
|
Note No. |
Particulars |
Amount (₹) |
|
|
1 |
Share Capital |
|
|
|
|
Equity Share Capital |
20,00,000 |
|
|
|
12% Preference Share Capital |
10,00,000 |
|
|
|
|
30,00,000 |
|
|
2 |
Reserves and Surplus |
|
|
|
|
Workmen Compensation Reserve |
1,00,000 |
|
|
|
Balance in Statement of Profit and Loss (Credit) |
3,00,000 |
|
|
|
|
4,00,000 |
|
|
3 |
Long-term Borrowings |
|
|
|
|
12% Debentures |
6,00,000 |
|
|
4 |
Other Current Liabilities |
|
|
|
|
Current Liabilities |
8,00,000 |
|
|
5 |
Short-term Provisions |
|
|
|
|
Provision for Taxation |
2,00,000 |
|
|
6 |
Tangible Assets |
|
|
|
|
Fixed Assets (Cost) |
46,60,000 |
|
|
|
Depreciation |
(16,60,000) |
30,00,000 |
|
7 |
Non-Current Investments |
|
|
|
|
Investments |
4,00,000 |
|
|
8 |
Inventories |
|
|
|
|
Stock |
6,00,000 |
|
|
9 |
Trade Receivables |
|
|
|
|
Sundry Debtors |
8,00,000 |
|
|
10 |
Cash and Cash Equivalents |
|
|
|
|
Cash |
1,50,000 |
|
|
11 |
Short-term Loans and Advances |
|
|
|
|
Loans and Advances |
50,000 |
|
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