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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 |
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Solution
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 |
|
|
|
1 |
2,00,000 |
|
3. Current Liabilities |
|
|
|
|
|
| b. Short-term Provisions |
2 |
16,000 |
|
II. Assets |
|
|
|
1. Non-Current Assets |
|
|
|
|
|
| i. Tangible Assets |
3 |
4,75,000 |
| ii. Intangible Assets |
4 |
30,000 |
| b. Non-Current Investments |
|
|
|
2. Current Assets |
|
|
|
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 |
||
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