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Question
The following balances have been extracted from the books of Robin Ltd. as on 31st March, 2024:
| ₹ | |
| Share Capital | 10,00,000 |
| Securities Premium | 1,00,000 |
| 12% Debentures | 5,00,000 |
| Trade Payables | 2,00,000 |
| Provision for Taxation | 50,000 |
| Profit and Loss Statement (Dr.) | 50,000 |
| Livestock | 9,00,000 |
| Investment in Government Bonds | 4,00,000 |
| Work-in-progress | 4,00,000 |
| Preliminary Expenses | 1,00,000 |
| Patents | 40,000 |
| Unclaimed Dividend | 10,000 |
| Trade Receivables | 20,000 |
| Public Deposits | 50,000 |
Prepare the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013.
Ledger
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Solution
| Balance Sheet as at 31st March, 2024. | ||
| Particulars | Note No. | ₹ |
| I. EQUITY & LIABILITIES: | ||
| (1) Shareholders’ Funds: | ||
| (a) Share Capital | 1 | 10,00,000 |
| (b) Reserves and Surplus | 2 | 50,000 |
| (2) Non-Current Liabilities: | ||
| (a) Long-term Borrowings (12% Debentures) | 3 | 5,00,000 |
| (b) Long-term Provisions (Provision for Taxation) | 4 | 50,000 |
| (3) Current Liabilities: | ||
| (a) Trade Payables | 5 | 2,00,000 |
| (b) Unclaimed Dividend | 6 | 10,000 |
| (d) Short-term Borrowings (Public Deposits) | 7 | 50,000 |
| Total | 18,60,000 | |
| II. ASSETS: | ||
| (1) Non-Current Assets: | ||
| (a) Fixed Assets (Intangible – Patents) | 8 | 40,000 |
| (b) Non-current Investments (Govt. Bonds) | 9 | 4,00,000 |
| (c) Other Non-current Assets (Preliminary Expenses) | 10 | 1,00,000 |
| (2) Current Assets: | ||
| (a) Inventories (Livestock + WIP) | 11 | 13,00,000 |
| (b) Trade Receivables | 12 | 20,000 |
| Total | 18,60,000 | |
Notes to Accounts:
| Particulars | ₹ |
| Securities Premium | 1,00,000 |
| Less: Debit balance of Statement of P&L | (50,000) |
| Total | 50,000 |
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Chapter 9: Financial Statements of Companies - PRACTICAL QUESTIONS [Page 9.61]
