Question

Show the following items in the balance sheet as per the provisions of the Companies Act, 2013 in Schedule III:

Particulars	Rs.	Particulars	Rs.
Preliminary Expenses	2,40,000	Good will	30,000
Discount on issue of shares	20,000	Loose tools	12,000
10% Debentures	2,00,000	Motor Vehicles	4,75,000
Stock in Trade	1,40,000	Provision for tax	16,000
Cash at bank	1,35,000
Bills receivable	1,20,000

Answer 1

Extract of Balance Sheet

as at March 31, 2013

Particulars	Note No.	Amount  (Rs)
I. Equity and Liabilities
1. Shareholders’ Funds
a. Share Capital
b. Reserves and Surplus
2. Non-Current Liabilities
Long-term Borrowings	1	2,00,000
3. Current Liabilities
Other Current Liabilities
b. Short-term Provisions	2	16,000
II. Assets
1. Non-Current Assets
Fixed Assets
i. Tangible Assets	3	4,75,000
ii. Intangible Assets	4	30,000
b. Non-Current Investments
2. Current Assets
Inventories	5	1,52,000
b. Trade Receivables	6	1,20,000
c.Cash and Cash Equivalents	7	1,35,000
d. Other Current Assets	8	2,60,000

Notes to Accounts

Particulars			Amount (Rs)
1. Long Term Borrowings
10% Debentures			2,00,000
2. Short Term Provisions
Provision for Tax			16,000
3. Tangible Assets
Motor Vehicles			4,75,000
4. Intangible Assets
Goodwill			30,000
5. Inventory
Loose Tools	12,000
Stock	1,40,000		1,52,000
			1,52,000
6. Trade Receivables
Bill Receivable			1,20,000
7. Cash and Cash equivalents
Cash at Bank			1,35,000
8. Other Current Assets
Preliminary Expenses		2,40,000
Discount on Issue of Shares		20,000	2,60,000
			2,60,000