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Question
Prepare Balance Sheet of VT Ltd. as at 31st March 2019, from the following information as per Schedule III, Part I of the Companies Act, 2013:
| ₹ | ₹ | |||
| General Reserve | 3,000 | Fixed Assets: Tangible Assets (Cost) | 9,000 | |
| 8% Debentures | 3,000 | Other Current Liabilities | 2,500 | |
| Surplus, i.e., Balance in Statement of Profit and Loss (Credit) | 1,200 | Share Capital | 5,000 | |
| Depreciation of Fixed Assets | 700 | Other Current Assets | 6,400 |
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Solution
Balance Sheet
as at March 31, 2019
|
Particulars |
Note No. |
Amount (₹) |
|
I Equity and Liabilities |
|
|
|
1. Shareholders’ Funds |
|
|
|
a. Share Capital |
1 |
5,000 |
|
b. Reserves and Surplus |
2 |
4,200 |
|
2. Non-Current Liabilities |
|
|
|
Long-term Borrowings |
3 |
3,000 |
|
3. Current Liabilities |
|
|
|
Other Current Liabilities |
|
2,500 |
|
Total |
|
14,700 |
|
II Assets |
|
|
|
1. Non-Current Assets |
|
|
|
Fixed Assets (Tangible Assets) |
4 |
8,300 |
|
2. Current Assets |
|
|
|
Other Current Assets |
|
6,400 |
NOTES TO ACCOUNTS
|
Note No. |
Particulars |
Amount (₹) |
|
|
1 |
Share Capital |
|
|
|
|
Share Capital |
5,000 |
|
|
2 |
Reserves and Surplus |
|
|
|
|
General Reserve |
3,000 |
|
|
|
Balance in Statement of Profit and Loss (Credit) |
1,200 |
|
|
|
|
4,200 |
|
|
3 |
Long-term Borrowings |
|
|
|
|
8% Debentures |
3,000 |
|
|
4 |
Fixed Assets |
|
|
|
|
Tangible Assets (Cost) |
9,000 |
8,300 |
|
|
Depreciation |
(700) |
|
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