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Question 27 Chapter 1 of +2-B
27.From the following information extracted from the bools of Howrah Ltd. Prepare
Balance Sheet of the company on 31st March 2019 as per Schedule III of the
Companies Act,2013
| Rs. | |
| Long-term Borrowings | 10,00,000 |
| Trade Payable | 60,000 |
| Share Capital | 8,00,000 |
| Reserves and Surplus | 1,80,000 |
| Fixed Assets (Tangible) | 16,00,000 |
| Inventories | 40000 |
| Trade Receivables | 1,60,000 |
| Cash and Cash Equivalents | 2,40,000 |
|
Items |
Note no. |
Figures as at the end of the Current Reporting Period (3) |
Figures as at the end of the Previous Reporting Period (4) |
|---|---|---|---|
| I. Equity and Liabilities | |||
| 1. Shareholders’ Funds | |||
| Share Capital | 8,00,000 | ||
| Reserves and surplus | 1,80,000 | ||
| 2. Share Application Money Pending Allotment | |||
| 2. Share Application Money Pending Allotment | |||
| 3. Non-Current Liabilities | |||
| (a) Long-term borrowings | 1 | 10,00,000 | |
| 4. Current Liabilities | |||
| Trade Payable | 2 | 60,000 | |
| Total | 20,40,000 | ||
| 1.Non-Current Assets | |||
| (a) Fixed Assets: | |||
| (i) Tangible Assets | 16,00,000 | ||
| 2. Current Assets | |||
| Trade Receivables | 40,000 | ||
| Inventories | 1,60,000 | ||
| Cash and Cash equivalents | 2,40,000 | ||
| Total | 20,40,000 |
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Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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