Question

On 31st March 2025, BIMA Ltd. showed the following balances:

Particulars	(₹)
Equity Share Capital of ₹ 10 each, called up to ₹ 6	30,00,000
Calls-in-Arrears	40,000
6% Debentures	10,00,000
8% Bank Loan	5,00,000
Securities Premium	70,000
Calls-in-Advance	40,000
Statement of Profit & Loss (Dr)	50,000
Interest on debentures accrued but not due	15,000

Additional information:

• BIMA Ltd. incorporated with an authorised capital of 8,00,000 Equity Shares of ₹ 10 each, of which 5,00,000 shares were issued to the public. Shares were subscribed in full.
• 8% Bank loan was taken on 1st April 2022, due for repayment on 31st August, 2025.

You are required to:

1. Prepare Notes to Accounts showing Share Capital.
2. Give the amount for each of the following:
   1. Reserve and Surplus
   2. Long-term borrowings
   3. Short-term borrowings
   4. Other Current Liabilities

Answer 1

Particulars	Amount (₹)	Amount (₹)
1. Share Capital
Authorised Capital:
8,00,000 Equity Shares of ₹ 10 each		80,00,000
Issued Capital:
5,00,000 Equity Shares of ₹ 10 each		50,00,000
Subscribed Capital:
Subscribed but not fully paid-up:
5,00,000 Equity Shares of ₹ 10 each, ₹ 6 called up	30,00,000	29,60,000
Less: Calls-in-Arrears	40,000
		29,60,000

(ii) Amounts for required Headings:

(a) Reserve and Surplus = Securities Premium − Statement of Profit & Loss (Dr)

= 70,000 − 50,000

= 20,000

(b) Long-term borrowings

This includes debts that are not due for repayment within the next 12 months.

6% Debentures = 10,00,000

(c) Short-term borrowings

According to the 2021 amendment to Schedule III, “Current maturities of long-term debt” are now disclosed under Short-term borrowings.

8% Bank Loan ₹ 5,00,000

(d) Other Current liabilities

This includes obligations due within 12 months that are not classified elsewhere.

= Calls-in-Advance + Interest on debentures accrued but not due

= 40,000 + 15,000

= 55,000