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

Answer 1

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)