Balance Sheet
Balance Sheet as at 31st March 2024
(Rupees in ______)
Note No. Figures at the end of current Exercise - Find out
reporting period the rounding o
rules for FS as per
Schedule III
I Equity and Liabilities
(1) Shareholders Funds
(a) Share Capital 1 ₹ 7,93,500.00
(b) Reserves and Surplues 2 ₹ 5,52,486.00
(C) Money received against share warrants ₹ 0.00
(2) Share application money pending allotment ₹ 0.00
(3) Non current liabilities
(a) Long Term Borroiwngs 3 ₹ 3,00,000.00
(b) Deferred tax liabilities (net) ₹ 0.00
(c) Other Long Term Liabilities ₹ 0.00
(d) Long Term Provisions ₹ 0.00
(4) Current Liabilities
(a) Short Term Borrowings ₹ 0.00
(b) Trade payables 4 ₹ 37,000.00
(c) Other current liabilities 5 ₹ 12,500.00
(d) Short Term Provisions 6 ₹ 1,20,021.50 *** Rounding o has
been ignored as of
now.
₹ 18,15,507.50
II Assets
Non Current Assets
(1)
(a) Fixed Assets
(i) Tangible Assets 7 ₹ 9,26,107.50
(ii) Intangible Assets 8 ₹ 10,000.00
(iii) Capital work in progress ₹ 0.00
(iv) Intangible Assets under development ₹ 0.00
(b) Non current investments 9 ₹ 7,50,000.00
(C) Deferred Tax Assets ₹ 0.00
(d) Long Term Loans and Advances ₹ 0.00
(e) Other Non Current Assets ₹ 0.00
(2) Current Assets
(a) Current investments
(b) Inventories 10 ₹ 32,000.00
(C) Trade receivables 11 ₹ 30,200.00
(d) Cash and cash equivalents 12 ₹ 61,000.00
(e) Short Term Loans and Advances 13 ₹ 5,200.00
(f) Other Current Assets 14 ₹ 1,000.00
₹ 18,15,507.50
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Pro t and Loss Statement for the year
ended 31st March 2024
(Rupees in ______)
Particulars Note No. Figures at the end Figures at the end
of current reporting of previous
period reporting period
I Revenue from operation ₹ 18,50,000.00
II Other Income 15 ₹ 15,250.00
III Total Revenue (I plus II) ₹ 18,65,250.00
IV Expenses
(a) Cost of materials consumed 16 ₹ 17,000.00
(a) Purchase of stock in trade (inventory ₹ 10,45,000.00
in trade)
( c) Changes in inventories of nished 17 ₹ 22,500.00
goods , WIP and stock in trade
(d) Employee bene t expenses 18 ₹ 65,000.00
( e) Finance Cost 19 ₹ 4,500.00
( f) Depreciation and amortisation 20 ₹ 48,742.50
expense
(g) Other expenses 21 ₹ 62,400.00
Total Expenses ₹ 12,65,142.50
IX Pro t before tax (PBT) ₹ 6,00,107.50
X Tax Expense
Provision for Tax ₹ 1,20,021.50 Adjustment no.5
XV Pro t (Loss) for the period (XI + XIV) ₹ 4,80,086.00
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Problem
Amount (In Rs) Amount (Rs)
Authorised Share ₹ 10,00,000.00
capital divided into
10,000 equity
shares of Rs.100
each
Issued , Subscribed
and Called up
Capital
Equity Share C Share Capital ₹ 8,00,000.00 Notes to Accounts
Capital
Pro t and Loss C Surplus - Pro t and ₹ 12,000.00 Notes to Accounts
Account Loss Account
(31/03/2023)
Adjusted Purchases E Purchases of Stock ₹ 10,45,000.00 Direct PnL
of Stock in Trade - in Trade
Sales I Revenue from ₹ 18,50,000.00 Direct PnL
operations
Salaries E Employee bene t ₹ 62,500.00 Notes to Accounts
expenses
Rent , Rates and E Other expenses ₹ 25,000.00 Notes to Accounts
Taxes
Carriage E Other expenses ₹ 8,500.00 Notes to Accounts
Sundry Expenses E Other expenses ₹ 12,500.00 Notes to Accounts
Advertising E Other expenses ₹ 12,400.00 Notes to Accounts
Calls in arrears C Less from Share ₹ 6,500.00 Notes to Accounts
Capital
Pro t on Sale of I Other Income ₹ 10,000.00 Notes to Accounts
Machinery
Loans to Directors A Short Term Loans ₹ 5,200.00 Notes to Accounts
and Advances
Rent Received I Other Income ₹ 1,250.00 Notes to Accounts
Land and Building A Non -Current ₹ 6,27,350.00 Notes to Accounts
Assets - PPE
Furniture and A PPE ₹ 3,25,000.00 Notes to Accounts
Fittings
Plant and A PPE ₹ 22,500.00 Notes to Accounts
Machinery
Copyrights A Intangible Assets ₹ 10,000.00 Notes to Accounts
Stock on Hand , 1st E Changes in ₹ 45,000.00 Notes to Accounts
April 2023 inventories
Cash in hand A CCE ₹ 38,500.00 Notes to Accounts
Cash with Bank A CCE ₹ 22,500.00 Notes to Accounts
4% Debentures of L Long Term ₹ 2,25,000.00 Notes to Accounts
Rs. 100 each Borrowings
Bank Loans - L Long Term ₹ 25,000.00 Notes to Accounts
Secured Term Borrowings -
Loans assumed long term
Sundry Creditors L Current Liabilities - ₹ 24,500.00 Notes to Accounts
(payable within 6 trade payables
months)
Bills Payable L Current Liabilities - ₹ 12,500.00 Notes to Accounts
trade payables
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Amount (In Rs) Amount (Rs)
Interest on Bank E Finance Cost ₹ 4,500.00 Notes to Accounts
Loan
Bank Loan - L Long Term ₹ 50,000.00 Notes to Accounts
Unsecured Borrowings -
assumed long term
Sundry Debtors / A Trade Receivables ₹ 35,200.00 Notes to Accounts
Trade Recievables
Loose Tools A Inventories ₹ 4,500.00 Notes to Accounts
Unclaimed dividend L Other Current ₹ 10,000.00 Balance Sheet
Liabilities
Investment A Non Current ₹ 7,50,000.00 Notes to Accounts
Investments
Interest on I Other Income ₹ 4,000.00 Notes to Accounts
Investment
General Reserve C Reserves and ₹ 60,400.00 Notes to Accounts
Surplus
Stock - 1st April E Cost of materials ₹ 12,000.00 Notes to Accounts
2023 (Raw material) Consumed
Purchase of Stock E Cost of materials ₹ 10,000.00 Notes to Accounts
(Raw material) Consumed
Total ₹ 30,84,650.00 ₹ 30,84,650.00
2
Notes to Accounts
1 Share Capital
Authorised Share Capital - 10,000 ₹ 10,00,000.00
Equity Shares of Rs.100 each
Issued , Subscribed and Called Up ₹ 8,00,000.00
Capital - 8000 Equity Shares of
Rs.100 each
Less calls In arrears -₹ 6,500.00
₹ 7,93,500.00
2 Reserves and Surplues
Pro t and Loss Account ₹ 12,000.00
(31/03/2023)
Add : Pro t for the year ₹ 4,80,086.00
General Reserve ₹ 60,400.00
₹ 5,52,486.00
3 Long Term Borrowings
4% Debentures of Rs. 100 each ₹ 2,25,000.00
Bank Loans - Secured Term Loans ₹ 25,000.00
Bank Loans - Unsecured ₹ 50,000.00
₹ 3,00,000.00
4 Trade payables
Sundry Creditors ₹ 24,500.00
Bills payable ₹ 12,500.00
₹ 37,000.00
5 Other current liabilities
Unclaimed dividend ₹ 10,000.00
Salaries Outstanding ₹ 2,500.00 Adjustment 1
₹ 12,500.00
6 Short Term Provisions
Provision for Tax ₹ 1,20,021.50 Adjustment no.5
₹ 1,20,021.50
7 Fixed Assets - Tangible
Gross Block Depreciation Net Block Adjustment 4
Land and Building ₹ 6,27,350.00 ₹ 31,367.50 ₹ 5,95,982.50
Furniture and Fittings ₹ 3,25,000.00 ₹ 16,250.00 ₹ 3,08,750.00
Plant and Machinery ₹ 22,500.00 ₹ 1,125.00 ₹ 21,375.00
₹ 9,26,107.50
8 Fixed Assets - Intangible
Copyrights ₹ 10,000.00
₹ 10,000.00
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9 Non current investments ₹ 7,50,000.00
₹ 7,50,000.00
10 Inventories
Loose tools ₹ 4,500.00
Stock - Finished Goods ₹ 22,500.00 Adjustment 3.b
Stock - Raw Material ₹ 5,000.00 Adjustment 3.a
₹ 32,000.00
11 Trade receivables
Sundry Debtors ₹ 35,200.00
Less Bad Debts -₹ 5,000.00 Adjustment 6a
Less Debtors outstanding for 6 -₹ 3,000.00 6b
months to be shown separately
Debtors outstanding for less than 6 ₹ 27,200.00
months
Debtors outstanding for more than ₹ 3,000.00 6b
6 months
₹ 30,200.00
12 Cash and cash equivalents
Cash in hand ₹ 38,500.00
Cash at bank ₹ 22,500.00
₹ 61,000.00
13 Short Term Loans and Advances
Loans to Directors ₹ 5,200.00
₹ 5,200.00
14 Other Current Assets
Prepaid Rent ₹ 1,000.00 Adjustment 2
₹ 1,000.00
15 Other Income
Pro t on Sale of Machinery ₹ 10,000.00
Rent Received ₹ 1,250.00
Interest on investments ₹ 4,000.00
₹ 15,250.00
16 Cost of materials consumed
Opening stock of raw material ₹ 12,000.00
Add : Purchases ₹ 10,000.00
Less Closing Stock of raw material -₹ 5,000.00 Adjustment 3.a
₹ 17,000.00
17 Changes in inventories of nished
goods , WIP and stock in trade
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Opening Stock ₹ 45,000.00
Less Closing Stock -₹ 22,500.00 Adjustment 3.b
₹ 22,500.00
18 Employee bene t expenses
Salaries ₹ 62,500.00
Add : Outstanding Salary ₹ 2,500.00 Adjustment 1
₹ 65,000.00
19 Finance Cost ₹ 4,500.00
₹ 4,500.00
20 Depreciation and amortisation
expense
Depreciation :
Land and Building ₹ 31,367.50 Adjustment 4
Furniture and Fittings ₹ 16,250.00
Plant and Machinery ₹ 1,125.00
₹ 48,742.50
21 Other expenses
Rent , Rates and Taxes ₹ 25,000.00
Less Prepaid Rent -₹ 1,000.00 Adjustment 2
Carriage ₹ 8,500.00
Sundry Expenses ₹ 12,500.00
Advertising ₹ 12,400.00
Bad debts ₹ 5,000.00
₹ 62,400.00
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