- Show the following items in the balance sheet as per the provision of the companies Act, 2013 in Schedule III.
Solution –
2. On April 1, 2017, Jumbo Ltd., issued 10,000; 12% debentures of Rs.100 each a discount of 20%, redeemable after 5 years. The company decided to write-off discount on issue of such debentures on March 31, 2018. Show the items in the balance sheet of the company immediately after the issue of these debentures.
Solution –
3. From the following information prepare the balance sheet of Gitanjali Ltd.
Inventories Rs.14, 00,000; Equity share Capital Rs.20, 00,000;
Plant and Machinery Rs.10,00,000; Preference Share Capital Rs.12,00,000; Debenture Redemption Reserve Rs.6,00,000; Outstanding Expenses Rs.3,00,000; Proposed Dividend Rs.5,00,000; Land and Building Rs.20,00,000; Current Investments Rs.8,00,000; Cash Equivalent Rs.10,00,000; short term loan from Zaveri Ltd. (A Subsidiary Company of Twilight Ltd.) Rs.4,00,000; Public Deposits Rs.12,00,000.
Solution –
4. From the following information prepare the balance sheet of Jam Ltd.
Inventories Rs.7,00,000; Equity Share Capital Rs.16,00,000; Plant and Machinery Rs.8,00,000; 8% Preference Share Capital Rs.6,00,000; General Reserves Rs.6,00,000; Bills payable Rs.1,50,000; Provision for taxation Rs.2,50,000; Land and Building Rs.16,00,000; Non-current Investments Rs.10,00,000; Cash at Bank Rs.5,00,000; Creditors Rs.2,00,000; 12% Debentures Rs.12,00,000.
Solution –
5. Prepare the balance sheet of Joyti 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; Statements 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.
Solution –
Note to Accounts
6. Brinda Ltd., has furnished the following information:
- 25,000; 10% debentures of Rs.100 each;
- Bank loan of Rs.10,00,000 repayable after 5 years;
- Interest on debentures is yet to be paid.
Show the above items in the balance sheet of the company as at March 31, 2017.
Solution –
Balance Sheet Extract
As at 31st March 2017
7. Prepare a balance sheet of Black Swan Ltd., as at March 31, 2017 from the following information:
Rs. General Reserve : 3,000
10% Debentures : 3,000
Balance in Statement of : 1,200
Profit and Loss Depreciation on fixed assets : 700
Gross Block : 9,000
Current Liabilities : 2,500
Preliminary Expenses : 300
6% Preference Share Capital : 5,000
Cash & Cash Equivalents : 6,100
Solution –
