Illustraion 3.
From the following ledger balances of Regal Limited as on 31st March 2015. You are
required to prepare the Balance Sheet as on 31st March 2015 as per Revised schedule III of
the Indian Companies Act.
Particulars Rs Particulars Rs
Office Equipment 4,80,600 General Reserve 4,15,000
9% Debentures in APCO Ltd, 2,45,000 Creditors for Goods 1,68,500
Loose Tools 1,63,000 Creditors for expenses 36,000
Plant & machinery 18,00,000 Cash Credit 75,000
Computer Software 83,250 Mortgage loan 3,10,000
Debtors for goods 1,90,000 8%Preference share capital 5,50,000
Advertisement 30,000 Equity Share Capital 15,00,000
(unwritten off)
Stores & Spares 1,00,200 Staff Welfare Fund 85,000
Interest accrued on 51,000 Provision for Taxation 26,550
investment
Cash at Bank 23,000
Solution:
Balance Sheet of Regal Limited as on 31st March 2014
Particulars Note No. Amount (Rs.)
I.EQUITY AND LIABILITIES
1 Shareholders’ funds:
(a) Share capital : i)Equity Share Capital 15,00,000
ii)Preference Share Capital 5,50,000
(b) Reserves and surplus 4,15,000
2. Share application money pending allotment: Nil
3. Non-current liabilities:
(a) Long-term borrowings 3,10,000
(d) Long-term provisions 85,000
4 .Current liabilities:
(a) Short-term borrowings 75,000
(b) Trade payables 1 2,04,500
(d) Short-term provisions 26,550
TOTAL 31,66,050
II.ASSETS
1.Non-current assets:
(a)Fixed assets
(i) Tangible assets 2 22,80,600
(ii) Intangible assets 83,250
(e) Other non-current assets 30,000
2. Current assets:
(a) Current investments 2,45,000
(b) Inventories 3 2,63,200
(c) Trade receivables 1,90,000
(d) Cash and cash equivalents 23,000
(e) Other current assets 51,000
TOTAL 31,66,050
Notes to the Financial Statement:
1. Trade payables
Creditors for Goods 1,68,500
Creditors for expenses 36,000
Total 2,04,500
2. Tangible Fixed Assets
Office Equipment 4,80,600
Plant and machinery 18,00,000
Total 22,80,600
3 Inventories
Loose tools 1,63,000
Stores & Spares 1,00,200
Total 2,63,200
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Illustration 4
Prepare Balance sheet of Darshan Ltd., in the prescribed pro forma as on 31st March 2015 from the
following Trial balance
Trial Balance as on 31st March 2015
Particulars Rs. Particulars
Rs.
Leasehold property 16,00,000
Bank balance 1,05,000 Share Capital 20,65,000
Plant & Machinery 9,00,000 Staff Provident fund 8,00,000
Goodwill 3,00,000 Capita redemption reserve 2,20,000
Investment in a subsidiary Co. 11,50,000 General reserve 1,90,000
P & L A/c 70,000 Deposits from public 9,00,000
Stock of finished goods 1,20,000 Accounts payable 2,10,000
Accounts receivable 2,40,000 Short Term loan from SBI 1,78,000
Preliminary Expenses 39,000 Unclaimed dividend 6,000
Underwriting commission 45,000
========= =========
45,69,000 45,69,000
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Solution
Balance Sheet of Darshan Limited as on 31st March 2014
`Particulars Note No. Amount (Rs.)
I.EQUITY AND LIABILITIES
1. Shareholders’ funds:
(a) Share capital 20,65,000
(b) Reserves and surplus 1 3,40,000
2 .Share application money pending allotment:
3. Non-current liabilities:
(a) Long-term borrowings 9,00,000
(b) Long-term provisions 8,00,000
4. Current liabilities:
(a) Short-term borrowings 1,78,000
(b) Trade payables 2,10,000
(c) Other current liabilities 6,000
TOTAL 44,99,000
II.ASSETS
1.Non-current assets:
(a)Fixed assets
(i) Tangible assets 2 25,00,000
(ii) Intangible assets 3,00,000
(b)Non- current Investment 11,50,000
(c) Other Non-current assets 3 84,000
2 .Current assets:
(a) Inventories 1,20,000
(b) Trade receivables 2,40,000
(c) Cash and cash equivalents 1,05,000
TOTAL 44,99,000
: Notes to the Financial Statement:
1. Reserve and Surplus
Capital Redemption Reserve 2,20,000
General Reserves 1,90,000
Debit balance of P& L (70,000)
Total 3,40,000
2Tangible Fixed Assets
Leasehold property 16,00,000
Plant & machinery 9,00,000
Total 25,00,000
3 Other non-current assets
Underwriting Commission 45,000
Preliminary expenses 39,000
Total 84,000
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