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प्रश्न
From the following information, prepare the balance sheet of Gitanjali Ltd.
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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उत्तर
| Balance Sheet | ||
| 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 | ||
| i. Tangible Assets | 7 | 30,00,000 |
| ii. Intangible Assets | ||
| b. Non-Current Investments | 8,00,000 | |
| 2. Current Assets | ||
| a. Inventories | 8 | 14,00,000 |
| b. Current Investments | 9 | |
| c. Cash and Cash Equivalents | 10 | 10,00,000 |
| Total | 62,00,000 | |
Notes to Accounts
| Particulars | Amount (Rs) | Amount (Rs) | ||
| 1. Share Capital | ||||
| Equity Share Capital | 20,00,000 | 32,00,000 | ||
| Preference Share Capital | 12,00,000 | |||
| 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 | 30,00,000 | ||
| Plant and Machinery | 10,00,000 | |||
| 30,00,000 | ||||
| 8. Current Investment | 8,00,000 | |||
| 9. Inventories | 14,00,000 | |||
| 10. Cash and Cash Equivalents | 10,00,000 | |||
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संबंधित प्रश्न
'Panipat Blankets Limited' are the manufacturers and exporters of blankets. The company decided to distribute 1,000 blankets free of cost to five villages of Kashmir which had been damaged by the floods. It also decided to employ 100 young persons from these villages in their newly established factory at Ludhiana in Punjab To meet the requirements of funds for its new factory, the company issued 1,00,000 equity shares of Rs 10 each and 2,000, 9% debentures of Rs 100 each to the vendors of machinery purchased for Rs 12,00,000.
Pass necessary journal entries for the above transactions in the books of the company. Also, identify anyone value which the company wants to communicate to the society.
State any one limitation of Financial Statement Analysis’
State any two limitations and any two objectives of 'Analysis of Financial Statement'.
Long Answer Question
Explain the process of preparing income statement and balance sheet.
What are the major heads in the Equity and Liabilities part of the Balance Sheet as per Schedule III?
Under which major head will the following be shown:
(i) Share Capital; and (ii) Money Received Against Share Warrants?
List any five items that are shown under Reserves and Surplus.
State giving reason whether Trade Payables are classified as Current Liabilities or Non-current Liabilities in the Balance Sheet of a Company as per Schedule III of the Companies Act, 2013 in the following cases:
| Case | Operating Cycle Period (Months) | Expected Payment Period (Months) |
| 1 | 10 | 11 |
| 2 | 10 | 12 |
| 3 | 10 | 13 |
| 4 | 14 | 13 |
| 5 | 15 | 16 |
Classify the following items under major head and sub-head (if any) in the Balance Sheet of a company as per Schedule III of the Companies Act, 2013:
(i) Capital Work-in-Progress:
(ii) Provision for Warranties;
(iii) Income received in Advance; and
(iv) Capital Advances
From the following information, prepare Note to Accounts on Finance Costs: Interest paid to Bank ₹ 75,000; Interest on Debentures ₹ 58,000; Loss on issue of Debentures written off ₹ 27,500; and Commitment Charges ₹ 15,000.
From the following information of Best Marketing Ltd. for the year ended 31st March, 2025 prepare Note to Accounts on Depreciation and Amortisation Expenses:
Depreciation on: Building ₹ 15,500; Plant and Machinery ₹ 25,000; Computers ₹ 60,000; Goodwill written off ₹ 7,500; Patents written off ₹ 12,500.
State under which major headings and sub-headings the following items will be presented in the Balance Sheet of a company as per Schedule III of the Companies Act, 2013:
(i) Capital Reserve;
(ii) Calls-in-Advance;
(iii) Loose Tools; and
(iv) Bank overdraft.
Choose the appropriate alternative from the given options:
Which of the following is a limitation of financial analysis?
Briefly explain any three limitations of financial statements.
What are the objectives of preparing financial statements?
Which Indian Companies Act is in force these days?
The Goodwill is not a ________.
___________ is conducted by bankers and government.
A company prepares its Balance Sheet as per the format in ______.
Assertion (A): The focus of calculation of working capital revolves around managing the operating cycle of the business.
Reason (R): It is because the concept of operating cycle is required to ascertain the liquidity of assets and urgency of payments to liabilities.
In the context of the above two statements, which of the following is correct?
Which of the following points explain the nature of financial statements?
Financial statements are the ______ of information for interested parties.
Consider the following statements.
Statement 1 - "Going Concern concept assumes that the enterprise continues for a long period of time."
Statement 2 - "Going Concern concept assumes that the enterprise continues for a shorter period of time."
What are the limitations of financial statements?
Name the expenses that are incurred in connection with the formation of a company?
Provision of taxation is made by debiting which account?
What are the components of income statement?
The financial statements of a business enterprise include ______.
What are the limitations of financial statements?
As per Schedule III, Part I of the Companies Act, 2013 'calls-in-arrears' will be presented under which of the following head/sub-head, in the Balance Sheet of a company?
Carriage Inwards is shown in the Statement of Profit and Loss under ______.
Purchase of goods for reselling is shown in the Statement of Profit and Loss under ______.
______ are especially interested in the average payment period, since it provides them with a sense of the bill-paying patterns of the firm.
| Nitya, Shreya and Ishita are partners in a firm. They share profits in the ratio of 5 : 3 : 2. Their fixed capitals are ₹ 1,80,000; ₹ 1,60,000 and ₹ 2,00,000 respectively. For the year ending 31st March, 2022, Nitya withdrew ₹ 7,500 at the end of every quarter. |
The partnership deed provided that interest on capital will be allowed @10% p.a. The amount of interest on Ishita's capital will be:
