Question

Prepare the balance sheet of Jyoti Ltd., as at March 31, 2017, from the following information.

Building Rs. 10,00,000; Investments in the shares of Metro Tyers Ltd. Rs. 3,00,000; Stores & Spares Rs. 1,00,000; Statement of Profit and Loss (Dr.) Rs. 90,000; 5,00,000 Equity Shares of Rs. 20 each fully paid-up; Capital Redemption Reserve Rs. 1,00,000; 10% Debentures Rs. 3,00,000; Unpaid dividends Rs. 90,000; Share options outstanding account Rs. 10,000.

Answer 1

Balance Sheet
Particulars	Note no.	Amount (₹)
I. Equity and Liabilities
1. Shareholders’ Funds
(a) Share Capital	1	10,00,000
(b) Reserves and Surplus	2	10,000
2. Non-current Liabilities
(a) Long-term Borrowings	3	3,00,000
3. Current Liabilities
(a) Other Current Liabilities	4	1,00,000
Total		14,10,000
II Assets
1. Non-current Assets
(a) Fixed Assets
Tangible Assets	5	10,00,000
(b) Non-current Investment	6	3,00,000
2. Current Assets
(a) Inventories	7	1,00,000
(b) Other Current Assets		10,000
Total		14,10,000

Notes to Accounts:

Particulars	Amount (₹)	Amount (₹)
1. Share Capital
Equity share capital		10,00,000
50,000 equity shares of ₹ 20 each, fully paid-up
2. Reserves and Surplus
Capital Redemption Reserve	1,00,000	10,000
Less: Statement of P&L (Dr.)	(90,000)
Shares Options Outstanding Account		10,000
3. Non-current Liabilities
Long-term Borrowings
10% Debentures		3,00,000
4. Other Current Liabilities
Unpaid dividends	90,000	1,00,000
Share Option Outstanding	10,000
5. Tangible Assets
Building		10,00,000
6. Non-current Investment
Investments in the shares of Metro Tyres Ltd.		3,00,000
7. Inventories
Stores and Spares		1,00,000
8. Other Current Assets		10,000