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Question 34 Chapter 1 VK Publications Class 12 Part 2 - 2021
34. Prepare a Balance Sheet of Bharat Textile Ltd. as at March 31, 2017, on the basis of the following information:
| Particulars | Rs. | Particulars | Rs. |
| Goodwill | 4,00,000 | Current Liabilities | 5,60,000 |
| Building | 14,40,000 | Debtors | 4,40,000 |
| Plants & Machinery | 1,00,000 | Cash and Cash Equivalent | 3,50,000 |
| Equity Shares Capital | 12,00,000 | Bills Receivable | 1,00,000 |
| 10% preference share Capital | 4,00,000 | Inventories | 2,90,000 |
| General Reserve | 3,00,000 | Prepaid Insurance | 40,000 |
| Surplus , i.e., Balance in Statement of profit and loss | 7,00,000 |
| Particulars | Note No. | Current Year (Rs. ) | Previous Year (Rs.) |
|---|---|---|---|
| EQUITY AND LIABILITIES | |||
| 1.Shareholders' Funds | |||
| (a) Share Capital | 1. | 16,00,000 | |
| (b) Reserves and Surplus | 2. | 10,000 | |
| 2. Current Liabilities | 5,60,000 | ||
| Total | 31,60,000 | ||
| II. ASSETS |
|||
| 1. Non-current Assets |
|||
| a) Fixed Assets |
|||
| (i) Tangible Assets | 3. | 15,40,000 | |
| (ii) Intangible Assets | 4. | 4,00,000 | |
| 2. Current Assets | |||
| (a) Inventories | 2,90,000 | ||
| (b) Trade Receivables | 5. | 5,40,000 | |
| (c) Cash and Cash Equivalents: | 3,50,000 | ||
| (d) Other Current Assets | 6. | 40,000 | |
| Total | 31,60,000 |
Notes to Accounts:
| Particulars | Amount (Rs.) | |
|---|---|---|
| 1. Share Capital: | ||
| Equity Share Capital | 12,00,000 | |
| 10% Preference Share Capital | 4,00,000 | 16,00,000 |
| 2. Reserves and Surplus: | ||
| General Reserve | 3,00,000 | |
| Surplus, i.e, Balance in Statement of Profit and Loss (Dr.) | 7,00,000 | 10,00,000 |
| 3. Tangible Assets: | ||
| Plant and Machinery | 1,00,000 | |
| Building | 14,40,000 | 15,40,000 |
| 4. Intangible Assets | ||
| Goodwill | 4,00,000 | |
| 5. Trade Receivables: | ||
| Debtors | 4,40,000 | |
| Bills Receivable | 1,00,000 | 5,40,000 |
| 6. Other Current Assets | ||
| Prepaid Expenses | 40,000 |
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Accounting & Commerce Educator
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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