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Question -

From the following information prepare the balance sheet of Jam Ltd. as per the (revised) Schedule VI:

Inventories Rs. 7,00,000; Equity Share Capital Rs. 16,00,000; Plant and Machinery Rs. 8,00,000; 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; Noncurrent Investments Rs. 10,00,000; Cash at Bank Rs. 5,00,000;Creditors Rs. 2,00,000; 12% Debentures Rs. 12,00,000.



Answer -

Balance Sheet

as at March 31, 2013

Particulars

Note No.

Amount 

(Rs)

I. Equity and Liabilities

 

 

1. Shareholders’ Funds

 

 

a. Share Capital

1

22,00,000

b. Reserves and Surplus

2

6,00,000

2. Non-Current Liabilities

 

 

      a. Long-term Borrowings

3

12,00,000

3. Current Liabilities

 

 

      a. Short-term Borrowings

 

 

       b. Trade Payables

4

3,50,000

       c. Short-term Provisions

5

2,50,000

Total

 

46,00,000

 

 

 

II. Assets

 

 

1Non-Current Assets

 

 

    a. Fixed Assets

 

 

        i. Tangible Assets

6

24,00,000

    b. Non-Current Investments

 

10,00,000

2. Current Assets

 

 

    a. Inventories

 

7,00,000

    b. Cash and Cash Equivalents

7

5,00,000

Total

 

46,00,000

 

 

 

 

Notes to Accounts

Particulars

Amount

(Rs)

1. Share Capital

 

Equity Share Capital

16,00,000

 

Preference Share Capital

6,00,000

22,00,000

 

22,00,000

 

 

2.Reserve and Surplus

 

General Reserve

6,00,000

 

 

3. Long Term Borrowings

 

12% Debentures

12,00,000

 

 

4. Trade Payables

 

Creditors

2,00,000

 

Bills Payable

1,50,000

3,50,000

 

3,50,000

 

 

5. Short-Term Provisions

 

Provision for Taxation

2,50,000

 

 

6. Tangible Assets

 

Land and Building

16,00,000

 

Plant and Machinery

8,00,000

24,00,000

 

24,00,000

 

 

7. Cash and Cash Equivalents

 

Bank

5,00,000

 

 

 

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