The document discusses the format and items to be included in the balance sheet as per the revised Schedule III of the Companies Act 2013.
1) It outlines the key items to be presented under equity and liabilities such as share capital, reserves and surplus, long term borrowings, short term borrowings, trade payables etc.
2) It also describes the assets side covering non-current assets like fixed assets, investments, long term loans and advances. Current assets include inventories, trade receivables, cash, short term loans and advances.
3) Examples of balance sheet preparation from trial balance are given to illustrate the classification of items as per the schedule.
The Cash Flow Statement translates earnings in the Income Statement into cash inflows. Explained in detail above as a part of the topic “Financial accounting”, is brought to you by Welingkar’s Distance Learning Division.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/SlideshareFaccounting
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Follow us on Twitter: https://twitter.com/WeLearnIndia
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A simple and comprehensive presentation on Profit maximization v/s Wealth Maximization.
By Arvinder Pal Kaur
Faculty of Management
Northwest Group of Institutions
Dhudhike, MOGA
Many investors mistakenly base the success of their portfolios on returns alone. Few consider the risk that they took to achieve those returns. Since the 1960s, investors have known how to quantify and measure risk with the variability of returns, but no single measure actually looked at both risk and return together. Today, we have three sets of performance measurement tools to assist us with our portfolio evaluations. The Treynor, Sharpe and Jensen ratios combine risk and return performance into a single value, but each is slightly different. Which one is best for you? Why should you care? Let's find out.
Portfolio performance measures should be a key aspect of the investment decision process. These tools provide the necessary information for investors to assess how effectively their money has been invested (or may be invested). Remember, portfolio returns are only part of the story. Without evaluating risk-adjusted returns, an investor cannot possibly see the whole investment picture, which may inadvertently lead to clouded investment decisions.
Meaning of financial statement
Objectives of financial statement
Characteristics of financial statement
Nature of financial statement
Balance sheet
Format of balance sheet
Illustrations
Exercises
Statement of profit & loss
Format of statement of profit & loss
Notes of statement of profit &loss
Illustrations
Exercises
The Cash Flow Statement translates earnings in the Income Statement into cash inflows. Explained in detail above as a part of the topic “Financial accounting”, is brought to you by Welingkar’s Distance Learning Division.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/SlideshareFaccounting
Join us on Facebook: http://www.facebook.com/welearnindia
Follow us on Twitter: https://twitter.com/WeLearnIndia
Read our latest blog at: http://welearnindia.wordpress.com
Subscribe to our Slideshare Channel: http://www.slideshare.net/welingkarDLP
A simple and comprehensive presentation on Profit maximization v/s Wealth Maximization.
By Arvinder Pal Kaur
Faculty of Management
Northwest Group of Institutions
Dhudhike, MOGA
Many investors mistakenly base the success of their portfolios on returns alone. Few consider the risk that they took to achieve those returns. Since the 1960s, investors have known how to quantify and measure risk with the variability of returns, but no single measure actually looked at both risk and return together. Today, we have three sets of performance measurement tools to assist us with our portfolio evaluations. The Treynor, Sharpe and Jensen ratios combine risk and return performance into a single value, but each is slightly different. Which one is best for you? Why should you care? Let's find out.
Portfolio performance measures should be a key aspect of the investment decision process. These tools provide the necessary information for investors to assess how effectively their money has been invested (or may be invested). Remember, portfolio returns are only part of the story. Without evaluating risk-adjusted returns, an investor cannot possibly see the whole investment picture, which may inadvertently lead to clouded investment decisions.
Meaning of financial statement
Objectives of financial statement
Characteristics of financial statement
Nature of financial statement
Balance sheet
Format of balance sheet
Illustrations
Exercises
Statement of profit & loss
Format of statement of profit & loss
Notes of statement of profit &loss
Illustrations
Exercises
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
NO1 Uk Black Magic Specialist Expert In Sahiwal, Okara, Hafizabad, Mandi Bah...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
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what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
NO1 Uk Divorce problem uk all amil baba in karachi,lahore,pakistan talaq ka m...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Falcon Invoice Discounting: Optimizing Returns with Minimal Risk
Balance sheet problems
1. Problems on Balance Sheet of a Company as per
Revised Schedule III of the Companies Act 2013
FORMAT OF BALANCE SHEET
BALANCE SHEET of ………….Company Limited as on 31st
March……….
Particulars Note
No.
Amount (Rs.)
I.EQUITY AND LIABILITIES
1 Shareholders’ Funds:
(a) Share Capital
(b) Reserves and surplus
(c) Money received against share warrants (Not to be evaluated)
2 Share Application Money pending allotment: (Not to be evaluated)
3 Non - Current Liabilities:
(a) Long-term borrowings
(b) Deferred Tax Liabilities (Net) (Not to be Evaluated)
(c) Other Long Term Liabilities (Not to be Evaluated)
(d) Long-term provisions
4 Current Liabilities:
(a) Short-term borrowings
(b) Trade payables
(c) Other current liabilities
(d) Short-term provisions
TOTAL [1 +2+3+4]
II.ASSETS
1Non-Current Assets:
(a)Fixed Assets
(i) Tangible Assets
(ii) Intangible Assets
(b)Non-Current Investments
(c) Long Term Loans &Advances
(d) Other Non-Current Assets
2Current Assets:
(a) Current investments
(b) Inventories
(c) Trade receivables
(d) Cash and cash equivalents
(e) Short-term loans and advances
(f) Other current assets
TOTAL [1 + 2]
2. EXPLAINATION
I. ITEMS APPEARING UNDER THE HEAD EQUITY AND LIABILITIES IN THE BALANCE SHEET
(1) Shareholders Funds
(a) Share Capital:
Note: Equity Share Capital and Preference Share Capital are to be shown separately.
(b) Reserves and Surplus: The following items are shown under this head:
(i) Capital Reserves
(ii) Capital Redemption Reserve
(iii) Securities Premium
(iv)Debenture Redemption Reserve
(v) Revaluation Reserve (Accounting Treatment -Not to be evaluated)
(vi)Share options Outstanding Account (Accounting Treatment -Not to be evaluated);
(vii) Other reserves (restricted to General Reserve only);
(viii) Surplus i.e. balance in the Statement of Profit & Loss [Add Cr. Bal or Less Dr. balance]
The balance of ‘Reserves and Surplus’, after adjusting negative balance of surplus, if any,
shall be shown under the head ‘ Reserves and Surplus’ even if the resulting figure is in
negative.
(c) Money received against share warrants: (Accounting Treatment- Not to be evaluated)
(2) Share application money pending allotment (Accounting Treatment- Not to be evaluated)
(3) Non-current liabilities
(a) Long Term borrowing:
(Debentures / Bonds, Bank Loans, Long Term Loans, Mortgage Loans, Public Deposits etc.)
(b) Deferred Tax Liabilities: (Net) (Accounting Treatment - Not to be Evaluated).
(c) Other Long Term Liabilities: (Accounting Treatment - Not to be evaluated).
Intercompany Owings from associates, subsidiaries or other companies, long term trade payable.
(d) Long Term provisions:
(Provision for Employee Benevolent/Welfare Fund, Provident Fund, Gratuity Fund, Provision
for Warranties, Provision for Pension Fund)
4) Current Liabilities
(a) Short-term Borrowings: Loans repayable on demand from banks and other parties,
Bank Overdrafts, Cash credits.
(b) Trade Payables: Sundry Creditors, Bills Payable, Outstanding Expenses
(c) Other Current Liabilities: Unpaid dividends, Interest accrued and due or not due on
borrowings, Income received in advance, Calls in advance, o/s Interest on calls in advance.
(d) Short-term Provisions: (Provision for tax and Proposed dividend)
II. ITEMS APPEARING UNDER THE HEAD ASSETS IN THE BALANCE SHEET.
1. Non-Current Assets
(a) Fixed Assets:
(i) Tangible Assets: (Land, Building, Plant and Equipment, Furniture & Fixture, Vehicles,
Office Equipment, Live Stock, Railway sidings etc.)
(ii) Intangible Assets:
(a) Goodwill
(b) Brand / Trademarks
(c) Computer Software & Mining rights
(d) Masthead and Publishing titles.
3. (e) Copyrights, and patents and other intellectual property rights, services and operating
rights. (f) Recipes, formulae, models, designs and prototypes
(h) Licenses and franchise
(iii) Capital work in Progress: (Accounting Treatment - Not to be evaluated)
(iv) Intangible Assets under Development: like patents, intellectual property rights, etc.
which are being developed by the company. (Accounting Treatment - Not to be evaluated).
(b) Non-Current Investments: Investments /Trade Investments and Non-trade investment
(If it is a long term)
(c) Deferred Tax Assets (Net): (Accounting Treatment - Not to be evaluated).
(d) Long-term Loans and Advances: – only Capital Advances and Security Deposits.
(e) Other non-current assets:-
Preliminary Expenses
Discount on Issue of shares/ debentures
Underwriting Commission
Deferred revenue expenses/ Discount on issue of shares/debenture/Share expenses
2. Current Assets
(a) Current Investments:
(Investments in Equity Instruments (Shares), Preference shares, Government Securities,
Debentures, and Mutual Funds etc.) (For short duration, ie, meant for resale)
(b) Inventories: Inventories include the following:
(i) Raw Material
(ii) Work-in-progress
(iii) Finished Goods
(iv) Stock- in- trade (in respect of goods acquired for trading)
(v) Stores and Spares
(vi) Loose Tools
(c) Trade Receivables: Debtors and Bills receivables.
(d) Cash and cash equivalents: as discussed in the salient features of Schedule-VI in General
Instructions:-
(a) Balance with banks
(b) Cheques, drafts on hand.
(c) Cash in hand
(d) Deposit with Banks.
(e) Short-term Loans and Advances: (short term loans /advances given to employees)
(f) Other Current Assets: (Restricted to prepaid expenses, Accrued Incomes, Interest accrued on
Investments, Advance Tax)
3. Contingent Liabilities and Capital Commitments (Not to be evaluated)
(a) Contingent Liabilities – Those liabilities which may or may not arise because they are
dependent on a happening in future. It is not recorded in the books of accounts but is
disclosed in the Notes to Accounts for the information of the users. (Claims against the
company not acknowledged as debts, Guarantees, Other money for which the company is
contingently liable).
(b) Capital commitments – A future liability for capital expenditure in respect of which contacts
have been made. (Uncalled liability on shares and other investments partly paid etc.)
**********************************
4. Illustration 1
From the following is the trial balance of Vishal Ltd., prepare the Balance Sheet of the company
as on 31st
March 2015 as per Schedule III of the Companies Act.
Trial Balance as on 31st
March 2015
------------------------------------------------------------------------------------------------------------------
Debit Rs. Credit Rs.
Advances to employees 3,00,000 Equity Share Capital 52,00,000
Cash at Bank 3,14,320 Capital Reserve 60,000
Furniture & Fixture 7,50,000 Loan from SBI 8,00,000
Premises 41,09,940 Provision for Employees Welfare Fund 6,00,000
Patents 10,00,000 Proposed Dividend 1,64,000
Discount on issue of
shares(unwritten off)
25,000 Short term loan rom bank 4,90,200
Trade Receivables 3,66,240 Unpaid dividend 64,800
Advance Tax 50,000 Profit & Loss A/c 42,980
8% Govt. Bonds 3,36,000 Bills Payable 85,100
Stock in trade 3,55,600 Sundry Creditors 1,00,020
======== ========
76,07,100 76,07,100
======== ========
Balance Sheet of Vishal Limited as on 31st
March 2014
`Particulars Note No. Amount (Rs.)
I.EQUITY AND LIABILITIES
1 Shareholders’ funds:
(a) Share capital 52,00,000
(b) Reserves and surplus 1 1,02,980
2 Share application money pending allotment: Nil
3 Non-current liabilities:
(a) Long-term borrowings 8,00,000
(b) Long-term provisions 6,00,000
4 Current liabilities:
(a) Short-term borrowings 4,90,200
(b) Trade payables 2 1,85,120
(c) Other current liabilities 64,800
(d) Short-term provisions 1,64,000
TOTAL 76,07,100
II.ASSETS
1.Non-current assets:
(a)Fixed assets
(i) Tangible assets 3 48,59,940
(ii) Intangible assets 10,00,000
5. (b) Other non-current assets 25,000
2 . Current assets:
(a) Current investments 3,36,000
(b) Inventories 3,55,600
(c) Trade receivables 3,66,240
(d) Cash and cash equivalents 3,14,320
(e) Short-term loans and advances 3,00,000
(f) Other current assets 50,000
TOTAL 76,07,100
Solution: Notes to the Financial Statement:
1. Reserve and Surplus
Capital Reserve 60,000
Profit & Loss A/c (Cr. Bal.) 42,980
Total 1,02,980
2. Trade Payables
Sundry creditors 1,00,020
Bills payable 85,100
Total 1,85,120
3. Tangible Fixed Assets
Premises 41,09,940
Furniture & Fixture 7,50,000
Total 48,59,940
************************
6. Illustration 2.
From the following Ledger balances of Varun LTD., prepare the Balance Sheet of the company
as on 31st
March 2014 as per Schedule III of the Companies Act.
Particulars Rs. Particulars Rs.
Plant & machinery 6,00,000 Immovable property 10,00,000
8% Debenture 8,00,000 Public deposit 5,00,000
Employee’s provident Fund 1,30,000 Provision for taxation 1,80,000
Securities premium 80,000 Drafts on hand 5,00,000
Cash at bank 34,000 Bills Receivable 2,40,000
24000 fully paid Equity shares of
Rs.100 each Rs. 50 called up
12,00,000
Brokerage on issue of
shares
1,10,000
Sundry Creditors 1,16,000 Bank overdraft 1,50,000
Loan to Manager 70,000 Security Deposit 1,24,000
Deposits with ICICI Bank(5 years) 1,98,000 Trade marks 1,80,000
Prepaid insurance 1,00,000
Solution
Balance Sheet of VARUN LTD. as on 31st
March 2014
Particulars Note No. Amount (Rs.)
I.EQUITY AND LIABILITIES
1. Shareholders’ funds:
(a) Share capital 1 12,00,000
(b) Reserves and surplus 80,000
2. Share application money pending allotment: Nil
3. Non-current liabilities:
(a) Long-term borrowings 2 13,00,000
(d) Long-term provisions 1,30,000
4. Current liabilities:
(a) Short-term borrowings 1,50,000
(b) Trade payables 1,16,000
(d) Short-term provisions 1,80,000
TOTAL 31,56,000
II.ASSETS
1.Non-current assets:
(a) Fixed assets
(i) Tangible assets 3 16,00,000
(ii) Intangible assets 1,80,000
(b) Non-current investment 1,98,000
(c) Long-term loans & advances 1,24,000
(e) Other non-current assets 1,10,000
7. 2 .Current assets:
(a) Trade receivables 2,40,000
(b) Cash and cash equivalents 4 5,34,000
(c) Short-term loans and advances 70,000
(d) Other current assets 1,00,000
TOTAL 31,56,000
Notes to the Financial Statement:
1 .Share Capital
Authorised Capital
(24000 Equity shares of Rs.100 each)
24,00,000
============
Issued & Subscribed capital
(24,000 Equity shares of Rs.100 each)
24,00,000
============
Called up & Paid up capital
(24000 Equity shares of 80 each)
12,00,000
TOTAL 12,00,000
2 .Long Term borrowings
8% Debentures 8,00,000
Public deposits 5,00,000
TOTAL 13,00,000
3. Tangible Assets
Plant & Machinery 6,00,000
Immovable property 10,00,000
TOTAL 16,00,000
4. Cash & Cash equivalent
Cash in hand 34,000
Drafts on hand 5,00,000
TOTAL 5,34,000
******************************
8. Illustraion 3.
From the following ledger balances of Regal Limited as on 31st
March 2015. You are
required to prepare the Balance Sheet as on 31st
March 2015 as per Revised schedule III of
the Indian Companies Act.
Particulars Rs Particulars Rs
Office Equipment 4,80,600 General Reserve 4,15,000
9% Debentures in APCO Ltd, 2,45,000 Creditors for Goods 1,68,500
Loose Tools 1,63,000 Creditors for expenses 36,000
Plant & machinery 18,00,000 Cash Credit 75,000
Computer Software 83,250 Mortgage loan 3,10,000
Debtors for goods 1,90,000 8%Preference share capital 5,50,000
Advertisement
(unwritten off)
30,000 Equity Share Capital 15,00,000
Stores & Spares 1,00,200 Staff Welfare Fund 85,000
Interest accrued on
investment
51,000 Provision for Taxation 26,550
Cash at Bank 23,000
Solution:
Balance Sheet of Regal Limited as on 31st
March 2014
Particulars Note No. Amount (Rs.)
I.EQUITY AND LIABILITIES
1 Shareholders’ funds:
(a) Share capital : i)Equity Share Capital 15,00,000
ii)Preference Share Capital 5,50,000
(b) Reserves and surplus 4,15,000
2. Share application money pending allotment: Nil
3. Non-current liabilities:
(a) Long-term borrowings 3,10,000
(d) Long-term provisions 85,000
4 .Current liabilities:
(a) Short-term borrowings 75,000
(b) Trade payables 1 2,04,500
(d) Short-term provisions 26,550
9. TOTAL 31,66,050
II.ASSETS
1.Non-current assets:
(a)Fixed assets
(i) Tangible assets 2 22,80,600
(ii) Intangible assets 83,250
(e) Other non-current assets 30,000
2. Current assets:
(a) Current investments 2,45,000
(b) Inventories 3 2,63,200
(c) Trade receivables 1,90,000
(d) Cash and cash equivalents 23,000
(e) Other current assets 51,000
TOTAL 31,66,050
Notes to the Financial Statement:
1. Trade payables
Creditors for Goods 1,68,500
Creditors for expenses 36,000
Total 2,04,500
2. Tangible Fixed Assets
Office Equipment 4,80,600
Plant and machinery 18,00,000
Total 22,80,600
3 Inventories
Loose tools 1,63,000
Stores & Spares 1,00,200
Total 2,63,200
********************************
10. Illustration 4
Prepare Balance sheet of Darshan Ltd., in the prescribed pro forma as on 31st
March 2015 from the
following Trial balance
Trial Balance as on 31st
March 2015
Particulars Rs. Particulars
Rs.
Leasehold property 16,00,000
Bank balance 1,05,000 Share Capital 20,65,000
Plant & Machinery 9,00,000 Staff Provident fund 8,00,000
Goodwill 3,00,000 Capita redemption reserve 2,20,000
Investment in a subsidiary Co. 11,50,000 General reserve 1,90,000
P & L A/c 70,000 Deposits from public 9,00,000
Stock of finished goods 1,20,000 Accounts payable 2,10,000
Accounts receivable 2,40,000 Short Term loan from SBI 1,78,000
Preliminary Expenses 39,000 Unclaimed dividend 6,000
Underwriting commission 45,000
========= =========
45,69,000 45,69,000
========= =========
Solution
Balance Sheet of Darshan Limited as on 31st
March 2014
`Particulars Note No. Amount (Rs.)
I.EQUITY AND LIABILITIES
1. Shareholders’ funds:
(a) Share capital 20,65,000
(b) Reserves and surplus 1 3,40,000
2 .Share application money pending allotment:
3. Non-current liabilities:
(a) Long-term borrowings 9,00,000
(b) Long-term provisions 8,00,000
4. Current liabilities:
(a) Short-term borrowings 1,78,000
(b) Trade payables 2,10,000
(c) Other current liabilities 6,000
TOTAL 44,99,000
II.ASSETS
1.Non-current assets:
(a)Fixed assets
(i) Tangible assets 2 25,00,000
11. (ii) Intangible assets 3,00,000
(b)Non- current Investment 11,50,000
(c) Other Non-current assets 3 84,000
2 .Current assets:
(a) Inventories 1,20,000
(b) Trade receivables 2,40,000
(c) Cash and cash equivalents 1,05,000
TOTAL 44,99,000
: Notes to the Financial Statement:
1. Reserve and Surplus
Capital Redemption Reserve 2,20,000
General Reserves 1,90,000
Debit balance of P& L (70,000)
Total 3,40,000
2Tangible Fixed Assets
Leasehold property 16,00,000
Plant & machinery 9,00,000
Total 25,00,000
3 Other non-current assets
Underwriting Commission 45,000
Preliminary expenses 39,000
Total 84,000
************************
12. Illustration 5
From the following ledger balances of Sunshine Co. Ltd., prepare the Balance Sheet of the company
as on 31st
March 2014 as per Schedule VI of the Companies Act.
Particulars Rs. Particulars Rs.
Equity Share Capital 26,00,000 Advances to employees 1,50,000
General Reserves 30,000
Discount on issue of
debentures(unwritten off)
12,500
12% Debenture 4,00,000 Tools and equipment 3,75,000
Land & Buildings 15,54,970 Gratuity Fund 3,00,000
Goodwill 10,00,000 Debtors 1,38,520
Bank Overdraft 2,45,100 Cash at Bank 1,57,160
Proposed Dividend 82,000 Stores & Spares 1,77,800
Prepaid insurance 25,000 Profit & Loss A/c (credit) 21,490
Mutual Fund 1,68,000 Bills Receivable 44,600
Interest payable 32,400 Sundry Creditors 92,560
Solution:
Balance Sheet of Sunshine Company Limited as on 31st
March 2014
`Particulars Note No. Amount (Rs.)
I.EQUITY AND LIABILITIES
1. Shareholders’ funds:
(a) Share capital 26,00,000
(b) Reserves and surplus 1 51,490
2. Share application money pending allotment: Nil
3. Non-current liabilities:
(a) Long-term borrowings 4,00,000
(b) Long-term provisions 3,00,000
4. Current liabilities:
(a) Short-term borrowings 2,45,100
(b) Trade payables 92,560
(c) Other current liabilities 32,400
(d) Short-term provisions 82,000
TOTAL 38,03,550
II.ASSETS
1.Non-current assets:
(a)Fixed assets
(i) Tangible assets 2 19,29,970
(ii) Intangible assets 10,00,000
13. (b) Other non-current assets 12,500
2. Current assets:
(a) Current investments 1,68,000
(b) Inventories 1,77,800
(c) Trade receivables 3 1,83,120
(d) Cash and cash equivalents 1,57,160
(e) Short-term loans and advances 1,50,000
(f) Other current assets 25,000
TOTAL 38,03,550
Notes to the Financial Statement:
1. Reserve and Surplus
General Reserve 30,000
Profit & Loss A/c (Cr. Bal.) 21,490
Total 51,490
2. Tangible Fixed Assets
Land & Buildings 15,54,970
Tools & Equipment 3,75,000
Total 19,29,970
3. Trade Receivables
Sundry Debtors 1,38,520
Bills Receivable 44,600
Total 1,83,120
************************
14. PROBLEMS FOR PRACTICE:
1. The following Trial Balance has been extracted from the books of Agro India Ltd. on
31.03.2015
Debit Rs. Credit Rs.
Plant & Machinery 9,00,000 Sinking Fund 1,00,000
Stock of raw material 1,75,000 Sundry Creditors 1,00,000
Live stock 4,30,000 Equity Share capital 15,00,000
Loan to director 1,35,000 15% Debentures 25,000
IFCI Bonds 2,00,000 Outstanding salary 10,000
Profit & Loss A/c 10,000 Proposed dividend 2,00,000
Patents 3,74,000 Revaluation Reserve 1,65,000
Discount on issue of shares 25,000 Mortgage Loan 2,54,000
Interest Accrued 1,05,000
23,54,000 23,54,000
Trial Balance as on 31st March 2015
Prepare the Balance sheet of the company as per schedule III of the Companies Act
2013.
2. Prepare Balance sheet of Samarth Ltd. In a prescribed pro forma as on 31-03-
2015 from the following trial balance.
Trial balance as on 31st
March 2015
Debit Rs. Credit Rs.
Lease hold premises 13,00,000 Debenture redemption reserve 3,75,000
Plant & Equipment 9,45,000 Provision for warranties 1,35,000
Book debts 3,44,000 Short Term loan from Ambica Ltd. 2,65,000
Bank balance 1,45,000 Profit & loss A/c 2,69,000
Advance Income tax 85,000 12% Debentures 4,55,000
Licenses & Franchise 2,25,000 Commission payable 44,000
Redeemable pref. shares in
Sonata Ltd. 6,30,000
32000 equity shares of Rs. 100
each, Rs.50 called up 16,00,000
Cheques on hand 95000 Provision for tax 46,000
Rent paid in advance 36000 Interest accrued 54,000
Mortgage loan from IDBI 5,62,000
------------- ------------
38,05,000 38,05,000
======== ========
***************************
15. 3. From the following Ledger balances of Mahan LTD., prepare a Balance Sheet of the company
as on 31st
March 2014 as per Schedule III of the Companies Act 2013.
Particulars Rs. Particulars Rs.
********************************
4. From the following Ledger balances of PREMIER CO. LTD., prepare a Balance Sheet of the
company as on 31st
March 2015 as per Schedule III of the Companies Act, 2013:
Particulars Rs. Particulars Rs.
Plant & machinery 3,00,000 Premises 5,00,000
6% Debenture 4,00,000 Fixed Deposits with Banks 2,50,000
Provision for workmen,
compensation
65,000 Provision for taxation 90,000
General Reserves 40,000 Loan from Bank of India 2,50,000
Cash in hand 17,000
Discount on issue of
Debentures(unwritten off)
55,000
Equity Share capital 6,00,000 Bills Receivable 1,20,000
Sundry creditors 58,000 Bank overdraft 75,000
Advance salary to staff 35,000 Security deposits 62,000
Shares of Reliance Co. Ltd. 99,000 Goodwill 90,000
Commission receivable 50,000
****************************
Furniture & fixtures 5,00,000 Free hold property 32,00,000
Public Issue of 7% bonds 15,00,000 8% Government bonds 8,00,000
Provident Fund 4,60,000 Provision for taxation 1,40,000
General Reserve 5,40,000 Cash in hand 5,00,000
10% Preference share capital 15,00,000 Acceptances received 7,20,000
Equity share capital 26,00,000 Discount on issue of shares 1,30,000
Outstanding printing & stationery 86,000 Bank overdraft 4,50,000
Payment due to suppliers 9,00,000 Loan to Managing director 3,72,000
Trade Investment 3,24,000 Goodwill 5,40,000
Interest accrued on investment 48,000 Cash at bank 10,42,000
16. 5. From the following ledger balances of AKSHAR Co. Ltd., prepare a Balance Sheet of the
company as on 31st
March 2015 as per Schedule III of the Companies Act, 2013:
Particulars Rs. Particulars Rs.
Equity Share Capital 26,00,000 Advances to employees 1,50,000
General Reserves 30,000
Discount on issue of
debentures(unwritten off)
12,500
12% Debenture 4,00,000 Tools and equipment 3,75,000
Land & Buildings 15,54,970 Gratuity Fund 3,00,000
Goodwill 10,00,000 Debtors 1,38,520
Bank Overdraft 2,45,100 Cash at Bank 1,57,160
Proposed Dividend 82,000 Stores & Spares 1,77,800
Prepaid insurance 25,000 Profit & Loss A/c [Cr.] 21,490
Mutual Fund 1,68,000 Bills Receivable 44,600
Interest payable 32,400 Sundry Creditors 92,560
*********************************