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.

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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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Similar questions

From the following information prepare the balance sheet of Jam Ltd. as per the (revised) Schedule VI:

Inventories Rs. 7,00,000; Equity Share Capital Rs. 16,00,000; Plant and Machinery Rs. 8,00,000; Preference Share Capital Rs. 6,00,000; General Reserves Rs. 6,00,000; Bills payable Rs. 1,50,000; Provision for taxation Rs. 2,50,000; Land and Building Rs. 16,00,000; Noncurrent Investments Rs. 10,00,000; Cash at Bank Rs. 5,00,000;Creditors Rs. 2,00,000; 12% Debentures Rs. 12,00,000.

Prepare the balance sheet of Jyoti Ltd. as at March 31, 2017 from the following information:

Building Rs. 10,00,000; Investments in the shares of Metro Tyers Rs. 3,00,000; Stores & Spares Rs. 1,00,000; Discount on issue of 10% debentures Rs. 10,000; Statement of Profit and Loss (Dr.) Rs. 90,000; 5,00,000 Equity Shares of Rs. 20 each fully paid-up; Capital Redemption Reserve Rs. 1,00,000; 10% Debentures Rs. 3,00,000; Unpaid dividends Rs. 90,000; Share options outstanding account Rs. 10,000.

From the following information, prepare Comparative Balance Sheets of X Ltd.:

$\begin{matrix} Particulars & 31.03.2017 & 31.03.2016 Rs. & Rs. Reserve and Surplus & 12, 00, 000 & 6, 00, 000 Share Capital & 10, 00, 000 & 10, 00, 000 Trade Payables & 12, 70, 000 & 9, 00, 000 Land and Buildings & 16, 00, 000 & 15, 00, 000 Plant and Machinery & 6, 30, 000 & 5,00,000 Goodwill & - & 1, 00, 000 Investments & 1, 20, 000 & 1, 00, 000 Current Assets & 15, 20, 000 & 8,00,000 Long term Borrowings & 4, 00, 000 & 5, 00, 000 \end{matrix}$

Q. Information given is as follows:
Fixed Long term Loans Rs

3, 50, 000

Fixed Assets Rs

12, 00, 000

Share capital Rs

8, 00, 000

Current Liabilities Rs

2, 50, 000

Current Assets Rs

4, 00, 000

Solvency Ratio is .

Kotak Ltd. has the following balance on 1st April, 2016:

Rs.

Statement of Profit & Loss (2,00,000)

Debenture Redemption Reserve 6,00,000

Capital Reserve 5,00,000

It earned a profit of Rs. 10,00,000 for the year ended 31st March, 2017. It decided to transfer Rs. 2,00,000 to Debenture Redemption Reserve and Rs. 3,00,000 to General Reserve. Directors proposed a final dividend of Rs. 1,20,000.

Show how these items will appear in the Balance Sheet and notes to accounts.

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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