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

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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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Similar questions

Q. From the following Balance Sheet of H.P. Ltd. as at 31st March, 2019, prepare Comparative Balance Sheet:

Particulars	Note No.	31st March, 2019 (₹)	31st March, 2018 (₹)
I. EQUITY AND LIABILITIES
1. Shareholders' Funds
(a) Share Capital:
(i) Equity Share Capital		12,50,000	5,00,000
(ii) Preference Share Capital		2,50,000	2,50,000
(b) Reserves and Surplus		3,00,000	4,50,000
2. Non-Current Liabilities
Long-term Borrowings: 12% Debentures		9,50,000	5,50,000
Loan from Directors		2,50,000	2,00,000
3. Current Liabilities
(a)Short-term Borrowings		3,50,000	1,75,000
(b) Trade Payables		2,00,000	1,00,000
(c) Short-term Provisions		50,000	25,000
Total		36,00,000	22,50,000
II. ASSETS
1. Non-Current Assets
(a) Fixed Assets (Tangible)		22,50,000	15,00,000
2. Current Assets
(a) Inventories		4,50,000	2,50,000
(b) Trade Receivables		8,00,000	4,50,000
(c) Cash and Cash Equivalents		1,00,000	50,000
Total		36,00,000	22,50,000

Q. From the following Balance Sheet of Depth Ltd. as at 31st March, 2019, prepare Comparative Balance Sheet:

Particulars	Note No.	31st March, 2019 (₹)	31st March, 2018 (₹)
I. EQUITY AND LIABILITIES
1. Shareholders' Funds
(a) Share Capital		2,80,000	1,80,000
(b) Reserves and Surplus		1,00,000	1,00,000
2. Non-Current Liabilities
Long-term Borrowings		80,000	20,000
3. Current Liabilities
Trade Payables		50,000	30,000
Total		5,10,000	3,30,000
II. ASSETS
1. Non-Current Assets
(a) Fixed Assets:
(i) Tangible Assets		2,80,000	1,80,000
(ii) Intangible Assets		50,000	30,000
(b) Non-Current Investments		80,000	50,000
2. Current Assets
(a) Inventories		70,000	30,000
(b) Cash and Cash Equivalents		30,000	40,000
Total		5,10,000	3,30,000

Q. From the Following Balance Sheet of Royal Industries Ltd. as at 31st March, 2019, prepare Comparative Balance Sheet:

Particulars	Note No.	31st March, 2019 (₹)	31st March, 2018 (₹)
I. EQUITY AND LIABILITIES 1. Shareholder's Funds
(a) Share Capital
Equity Share Capital		10,00,000	5,00,000
(b) Reserves and Surplus		1,00,000	1,00,000

2. Non-Current Liabilities
Long-term Borrowings		2,00,000	3,00,000

3. Current Liabilities
Trade Payables		2,00,000	1,00,000

Total		15,00,000	10,00,000

II. ASSETS
1. Non-Current Assets
(a) Fixed Assets:
(i) Tangible Assets		8,00,000	4,00,000
(ii) Intangible Assets		2,00,000	2,00,000
(b) Non-Current Investments		2,00,000	2,00,000

2. Current Assets
(a) Inventories		2,50,000	1,50,000
(b) Cash and Cash Equivalents		50,000	50,000
Total		15,00,000	10,00,000

From the following Balance Sheet as at 31st March, 2019 and Statement of Profit and Loss for the year ended 31st March, 2019 of RSB Ltd. and additional information, prepare Cash Flow Statement:

Particulars	Note No.	31st March, 2019 (₹)	31st March, 2018 (₹)
I. EQUITY AND LIABILITIES
1. Shareholders' Funds
(a) Share Capital		7,50,000	5,00,000
(b) Reserves and Surplus	1	9,50,000	3,00,000
2. Non-Current Liabilities
Long-term Borrowings (5% Debentures)		7,00,000	4,00,000
3. Current Liabilities
(a) Trade Payables		1,10,000	90,000
(b) Other Current Liabilities	2	39,000	25,000
(c) Short-term Provisions (Provision for Tax)		2,60,000	2,25,000
Total		28,09,000	15,40,000
II. ASSETS
1. Non-Current Assets
(a) Fixed Assets – Tangible	3	6,85,000	7,45,000
(b) Non-current Investments		7,50,000	2,50,000
2. Current Assets
(a) Current Investments		6,74,000	95,000
(b) Inventories		1,00,000	2,00,000
(c) Trade Receivables		4,00,000	1,50,000
(d) Cash and Cash Equivalents		2,00,000	1,00,000
Total		28,09,000	15,40,000

STATEMENT OF PROFIT AND LOSS
for the year ended 31st March, 2019
Particulars	Note No.	31st March, 2019 (₹)	31st March, 2018 (₹)
I. Revenue from Operations	4	40,00,000	35,00,000
II. Other Income	5	35,000	30,000
III. Total Revenue (I + II)		40,35,000	35,30,000
IV. Expenses:
Purchases of Stock-in-Trade		27,00,000	24,70,000
Change in Inventories of Stock-in-Trade	6	1,00,000	50,000
Finance Cost		27,500	20,000
Depreciation		40,000	45,000
Other Expenses		22,500	20,000
Total Expenses		28,90,000	26,05,000
V. Profit before Tax (III – IV)		11,45,000	9,25,000
VI. Less: Tax		3,45,000	2,25,000
VII. Profit after Tax (V – VI)		8,00,000	7,00,000

Notes to Accounts

Particular		31^st March 2019 (₹)	31^st March 2018 (₹)
1.	Reserves and Surplus
	Debenture Redemption Reserve	1,00,000	1,00,000
	Surplus, i.e., Balance in Statement of Profit and Loss	8,50,000	2,00,000
		9,50,000	3,00,000
2.	Other Current Liabilities
	Interest on Debentures	35,000	20,000
	Outstanding Expenses	4,000	5,000
		39,000	25,000
3.	Fixed Assets–Tangible
	Cost	8,90,000	9,90,000
	Less: Accumulated Depreciation	2,05,000	2,45,000
		6,85,000	7,45,000
4.	Revenue from Operations
	Sales	42,00,000	35,75,000
	Less: Sales Return	2,00,000	75,000
		40,00,000	35,00,000
5.	Other Income
	Interest on Deposits	15,000	12,500
	Dividend on Investments	10,000	17,500
	Gain (Profit) on Sale of Fixed Assets	10,000	…
		35,000	30,000
6.	Change in Inventories of Stock-in-Trade
	Opening Stock	2,00,000	2,50,000
	Less: Closing Stock	1,00,000	2,00,000
		1,00,000	50,000

Additional Information:

Q. From the following Balance Sheet of Kumar Ltd. as at 31st March, 2019, prepare Cash Flow Statement:

Particulars ulars	Note No.	31st March, 2019 (₹)	31st March, 2018 (₹)
I. EQUITY AND LIABILITIES
1. Shareholders' Funds
(a) Share Capital	1	16,00,000	10,40,000
(b) Reserves and Surplus,	2	5,50,000	2,60,000
2. Non-Current Liabilities
Long-term Borrowings:
9% Debentures		4,00,000	6,00,000
3. Current Liabilities
Trade Payables		4,50,000	1,00,000
Total Total Expenses		30,00,000	20,00,000
II. ASSETS
1. Non-Current Assets
Fixed Assets		20,00,000	15,00,000
2. Current Assets
(a) Inventories		3,00,000	2,00,000
(b) Trade Receivables		2,00,000	1,00,000
(c) Cash and Cash Equivalents		5,00,000	2,00,000
Total		30,00,000	20,00,000

Notes to Accounts

Particulars	31st March, 2019 (₹)	31st March, 2018 (₹)
1. Share Capital
Equity Share Capital	15,00,000	10,00,000
7% Preference Share Capital	1,00,000	40,000
	16,00,000	10,40,000
2. Reserves and Surplus
General Reserve	4,00,000	60,000
Surplus, i.e., Balance in Statement of Profit and Loss	1,50,000	2,00,000
	5,50,000	2,60,000

Additional Information:
1. During a year, a machinery costing ₹ 20,000 was sold for ₹ 6,000.
2. Dividend paid during the year ₹ 50,000.

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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