Question

Prepare Balance Sheet of Recovery Ltd. as per Schedule III of the Companies Act, 2013:

	₹
10% Debentures of ₹ 100 each	1,90,000
Stock-in-Trade (inventories)	40,000
Goodwill	20,000
Provision for Tax	60,000

Totalting of Balance Sheet is not required.

Answer 1

Balance Sheet
as at …

Particulars	Note No.	Amount (Rs)
I. Equity and Liabilities
1. Shareholders’ Funds		–
2. Non-Current Liabilities
Long-term Borrowings	1	1,90,000
3. Current Liabilities
Short-term Provisions	2	6,000
Total
II Assets
1. Non-Current Assets
Intangible (Fixed Assets)	3	20,000
2. Current Assets
a. Inventories	4	40,000
Total

NOTES TO ACCOUNTS 

Note No.	Particulars	Amount (Rs)
1	Long-term Borrowings
	10% Debentures	1,90,000
2	Short-term Provisions
	Provision for Tax	6,000
3	Intangible (Fixed Assets)
	Goodwill	20,000
4	Inventories
	Stock-in-Trade	40,000