Problems on Balance Sheet of a Company as per
Revised Schedule VI of the Companies Act
Illustration 1
From the following ledger balances of Sunshine Co. Ltd., prepare a Balance Sheet of the company
as on 31st March 2014 as per Schedule VI of the Companies Act.
Particulars
Equity Share Capital
General Reserves
12% Debenture
Land & Buildings
Goodwill
Bank Overdraft
Proposed Dividend
Prepaid insurance
Mutual Fund
Interest payable
Rs.
Particulars
2600000 Advances to employees
Discount on issue of
30000
debentures(unwritten off)
400000 Tools and equipment
1554970 Gratuity Fund
1000000 Debtors
245100 Cash at Bank
82000 Stores & Spares
25000 Profit & Loss A/c
168000 Bills Receivable
32400 Sundry Creditors
Rs.
150000
12500
375000
300000
138520
157160
177800
21490
44600
92560
Solution: Notes to the Financial Statement:
1. Reserve and Surplus
General Reserve
Profit & Loss A/c (Cr. Bal.)
Total
30000
21490
51490
Total
1554970
375000
1929970
Total
138520
44600
183120
2. Tangible Fixed Assets
Land & Buildings
Tools & Equipment
3. Trade Receivables
Sundry Debtors
Bills Receivable
Balance Sheet of Sunshine Company Limited as on 31st March 2014
`Particulars
I.EQUITY AND LIABILITIES
1 Shareholders’ funds:
(a) Share capital
(b) Reserves and surplus
2 Share application money pending allotment:
3 Non-current liabilities:
(a) Long-term borrowings
(b) Long-term provisions
4 Current liabilities:
(a) Short-term borrowings
(b) Trade payables
(c) Other current liabilities
(d) Short-term provisions
TOTAL
II.ASSETS
1Non-current assets:
(a)Fixed assets
(i) Tangible assets
(ii) Intangible assets
(b) Other non-current assets
2 Current 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
Note No.
************************
1
Amount (Rs.)
2600000
51490
Nil
400000
300000
2
3
245100
92560
32400
82000
3803550
1929970
1000000
12500
168000
177800
183120
157160
150000
25000
3803550
Illustration 2.
From the following Ledger balances of TISCO CO. LTD., prepare a Balance Sheet of the company
as on 31st March 2014 as per Schedule VI of the Companies Act.
Particulars
Rs.
Plant & machinery
6% Debenture
Provision for workmen,
compensation
General Reserves
Rs.
300000 Premises
400000 Fixed Deposits
500000
250000
65000 Provision for taxation
40000 Loan from Bank of India
Cash in hand
17000
Equity Share capital
Sundry creditors
Advance salary to staff
Shares of Reliance Co. Ltd
Commission Receivable
Solution:
Particulars
600000
58000
35000
99000
50000
Discount on issue of
Debentures(unwritten off)
Bills Receivable
Bank overdraft
Security deposits
Goodwill
90000
250000
55000
120000
75000
62000
90000
Notes to the Financial Statement:
1 .Long Term borrowings
6% Debentures
Loan from Bank of India
2.Tangible Assets
Plant & Machinery
Premises
3Cash & Cash equivalent
Cash in hand
Fixed Deposit
400000
250000
TOTAL 650000
300000
500000
TOTAL 800000
17000
250000
TOTAL 267000
Balance Sheet of TISCO CO. LTD. as on 31st March 2014
Particulars
I.EQUITY AND LIABILITIES
1 Shareholders’ funds:
(a) Share capital
(b) Reserves and surplus
2 Share application money pending allotment:
3 Non-current liabilities:
(a) Long-term borrowings
(d) Long-term provisions
4 Current liabilities:
(a) Short-term borrowings
(b) Trade payables
(d) Short-term provisions
TOTAL
II.ASSETS
1Non-current assets:
(a) Fixed assets
(i) Tangible assets
(ii) Intangible assets
(b) Long-term loans & advances
(e) Other non-current assets
2 Current assets:
(a) Current investments
(c) Trade receivables
(d) Cash and cash equivalents
(e) Short-term loans and advances
(f) Other current assets
TOTAL
Note No.
Amount (Rs.)
600000
40000
Nil
1
2
3
******************************
650000
65000
75000
58000
90000
1578000
800000
90000
62000
55000
99000
120000
267000
35000
50000
1578000
Illustration 3.
From the following ledger balances of Reality Limited as on 31st March 2014. You are required
to prepare the Balance Sheet as on 31st March 2014 as per Revised schedule VI of the Indian
Companies Act, 1956.
Particulars
Furniture and Fixtures
8% Govt. Bonds
Plant and machinery
Copyrights
Sundry Debtors
Underwriting Commission
(unwritten off)
Cash at Hand
Prepaid insurance
Loan to director
Stock in trade
Rs
Particulars
4,85,600 General Reserve
2,50,000 Sundry Creditors
Securities Premium
18,50,000
88,250 Bank Overdraft
1,95,000 Public Deposit
35,000 Rent payable
1,05,200 Provision for Pension fund
56,000 Equity Share Capital
28,000 Provision for Taxation
1,68,000
Rs
4,20,000
1,73,500
80,000
3,15,000
5,60,000
41,000
90,000
15,50,000
31,550
Solution : Notes to the Financial Statement:
1.Reserve and Surplus
General Reserve
Securities Premium
Total
4,20,000
80,000
5,00,000
Total
1,73,500
41,000
2,14,500
Total
4,85,600
18,50,000
23,35,600
2. Trade payables
Sundry Creditors
Rent payable
3. Tangible Fixed Assets
Furniture and Fixtures
Plant and machinery
Balance Sheet of Reality Limited as on 31st March 2014
Particulars
I.EQUITY AND LIABILITIES
1 Shareholders’ funds:
(a) Share capital
(b) Reserves and surplus
2 Share application money pending allotment:
3 Non-current liabilities:
(a) Long-term borrowings
(d) Long-term provisions
4 Current liabilities:
(a) Short-term borrowings
(b) Trade payables
(d) Short-term provisions
TOTAL
II.ASSETS
1Non-current assets:
(a)Fixed assets
(i) Tangible assets
(ii) Intangible assets
(e) Other non-current assets
2 Current 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
Note No.
1
Amount (Rs.)
15,50,000
5,00,000
Nil
5,60,000
90,000
2
3
********************************
3,15,000
2,14,500
31,550
32,61,050
23,35,600
88,250
35,000
2,50,000
1,68,000
1,95,000
1,05,200
28,000
56,000
32,61,050