Utilize the following data to prepare a Balance Sheet & Profit & Loss Account for the year

ended 31st March, 2014 (as per revised Schedule 6 of the Companies Act) Particulars Amount (Rs.) Authorized Share Capital (1,00,000 shares of Rs. 10 each) 1,000,000 Issued, Subscribed & Paid-Up Share Capital 600,000 Profit & Loss Account 300,000 10% Debentures 500,000 Long Term Loan 300,000 Provision for Redemption of Debentures 200,000 Creditors 100,000 Bills Payable 20,000 Provision for Taxation 30,000 Profit after Depreciation & Tax 100,000 Land 600,000 Building 500,000 Machinery 400,000 Furniture 50,000 Patents 100,000 Investments 200,000 Inventories 100,000 Debtors 100,000 Bills Receivables 50,000 Bank 30,000.00 Cash 20,000.00

Name of the Company Balance Sheet as at 31 March, 2014 Particulars Note No. As at 31 March, 2014 Rs. As at 31 March, 2013 Rs.

EQUITY AND LIABILITIES 1 Shareholders funds (a) Share capital (b) Reserves and surplus (c) Money received against share warrants 2 Share application money pending allotment 3 Non-current liabilities (a) Long-term borrowings (b) Deferred tax liabilities (net) (c) Other long-term liabilities (d) Long-term provisions 4 Current liabilities (a) Short-term borrowings (b) Trade payables (c) Other current liabilities (d) Short-term provisions

3 4 29 29

600,000 400,000 0 1,000,000 0

5 30 6 7

800,000 0 0 200,000 1,000,000 0 100,000 20,000 30,000 150,000 2,150,000

8 9 10 11

TOTAL B ASSETS 1 Non-current assets (a) Fixed assets (i) Tangible assets (ii) Intangible assets (iii) Capital work-in-progress (iv) Intangible assets under development (v) Fixed assets held for sale (b) Non-current investments (c) Deferred tax assets (net) (d) Long-term loans and advances (e) Other non-current assets 2 Current assets (a) Current investments

12 12

29 13 30 14 15

1,550,000 100,000 0 0 0 1,650,000 200,000 0 0 0 200,000 0

16

(b) Inventories (c) Trade receivables (d) Cash and cash equivalents (e) Short-term loans and advances (f) Other current assets

17 18 19 20 21

100,000 100,000 50,000 0 50,000 300,000 2,150,000

TOTAL See accompanying notes forming part of the financial statements

NOTES TO ACCOUNTS
NOTE 3 - SHARE CAPITAL Particulars As at 31 March, 2014 Number of Rs. shares 100,000 1,000,000.00 As at 31 March, 2013 Number of shares

Authorised Equity shares of Rs. 10 each with voting rights Issued & Subscribed Equity shares of Rs. 10 each with voting rights Total NOTE 4 - RESERVES & SURPLUS Particulars

60,000 60,000

600,000.00 600,000.00

As at 31 March, 2014 Rs. 300,000.00

As at 31 March, 2013 Rs.

(a) Surplus/Deficit in Profit & Loss A/C Opening Balance Add Profit for the Year Less Proposed Dividend Interim Dividend Transfer to any Reserve Closing Balance (b) General Reserve Opening Balance Add Transferred from P/L A/C Closing Balance Total NOTE 5 - LONG TERM BORROWINGS Particulars

100,000.00

400,000.00

400,000.00

10% Debentures Bank Loans Total

As at 31 As at 31 March, 2014 March, 2013 Rs. Rs. 500,000 300,000 800,000

As at 31 March, 2013 Rs.

NOTE 12 - FIXED ASSETS Particulars Freehold Land Plant & Machinery Fixtures Tools & Equipment Total Accumulated Depreciation Depreciation for Depreciation on Opening Balance the Year Disposals Rs. Rs. Rs. Gross Block Opening Balance Rs. Additions Rs. Disposals Rs. Closing Balance Rs. 600,000 500,000 400,000 50,000 1,550,000

Particulars Land Building Plant & Machinery Furniture Total

Closing Balance Rs. 0 0 0 0 0

Particulars Freehold Land Plant & Machinery Fixtures Tools & Equipment Total

Net Block Opening Balance Rs.

Closing Balance Rs. 600,000 500,000 400,000 50,000 1,550,000

NOTE 19 - CASH & CASH EQUIVALENTS Particulars As at 31 March, 20X2 As at 31 March, Rs. Rs. Bank Balance 30,000 Cash 20,000 Total 50,000