question_answer

Prepare the balance sheet for Rishant Ltd. as on at 31st March, 2017 from the following information as per provisions of Schedule III Part I of the Companies Act, 2013. Identify the values involved in the presentation of balance sheet.

Particulars	Amt (Rs.)
General Reserve	3,00,000
8% Debentures	3,00,000
Balance of Statement of Profit and Loss (Credit)	1,20,000
Depreciation of Fixed Assets	70,000
Tangible Fixed Assets (Cost)	9,00,000
Trade Payables	2,50,000
Preference Share Capital	5,00,000
Inventories	64,000
Trade Receivables	2,56,000
Cash and Cash Equivalents	3,20,000

Answer:

                                                                        Balance Sheet as at 31st March, 2017

	Particulars	Note No.	Current Year (Rs.)
I	EQUITY AND LIABILITIES
1.	Shareholders' Funds
	(a) Share Capital	1	5,00,000
	(b) Reserves and Surplus	2	4,20,000
2.	Non-Current Liabilities
	Long-term Borrowings	3	3,00,000
3.	Current Liabilities
	Trade Payables		2,50,000
	Total		14,70,000
II	ASSETS
1.	Non-current Assets
	(a) Fixed Assets
	Tangible Assets	4	8,30,000
2.	Current Assets
	(a) Inventories		64,000
	(b) Trade Receivables		2,56,000
	(c) Cash and Cash Equivalents		3,20,000
	Total		14,70,000

Notes to Accounts

	Particulars	Amt (Rs.)
1.	Share Capital
	Preference Share Capital	5,00,000
2.	Reserves and Surplus
	General Reserve	3,00,000
	Balance in Statement of Profit and Loss	1,20,000
		4,20,000
3.	Long-term Borrowings
	8% Debentures	3,00,000
4.	Tangible Fixed Assets
	Cost	9,00,000
	(-) Depreciation	(70,000)
		8,30,000

Value being shown is respect towards law.