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

Answer 1

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