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Question
On 31st March 2025, Rishiraj Ltd., an unlisted construction company, showed the following balances:
| Particulars | Amount (₹) |
| Equity Share Capital of ₹ 10 each | 10,00,000 |
| Calls-in-arrear (₹ 2 per share) | 30,000 |
| 8% Debenture of ₹ 100 each | 4,00,000 |
| 6% Bank Loan | 2,10,000 |
| Bank Overdraft | 54,000 |
| Cash Credit | 12,000 |
| Debenture Redemption Reserve | 40,000 |
| Premium on redemption of debentures | 20,000 |
| Interest on 8% Debentures due on 31.3.2025 has not been paid | 32,000 |
You are required to prepare an extract of Balance Sheet as at 31st March, 2025, showing the Equity and Liabilities. (Ignore Notes to Accounts)
Ledger
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Solution
| Balance Sheet of Rishiraj Ltd. As at 31st March, 2025 |
||
| Particulars | Note No. |
31st March, 2025 (₹) |
| I. Equity & Liabilities | ||
| (1) Shareholders’ Funds: | ||
| (a) Share Capital | 9,70,000 | |
| (b) Reserve and Surplus | 40,000 | |
| (2) Non-Current Liabilities: | ||
| Long Term Borrowings | 6,30,000 | |
| (3) Current Liabilities: | ||
| (a) Short Term Borrowings | 66,000 | |
| (b) Other Current Liabilities | 32,000 | |
| TOTAL | 17,38,000 | |
Working Note:
Share Capital = ₹ 10,00,000 − ₹ 30,000
= ₹ 9,70,000
Reserves and Surplus = ₹ 40,000
Long-term Borrowings = ₹ 4,00,000 + ₹ 2,10,000 ₹ 20,000
= ₹ 6,30,000
Short-term Borrowings = ₹ 54,000 + ₹ 12,000
= ₹ 66,000
Other Current Liabilities = ₹ 32,000
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