Accountancy PSDA

Balance sheet new and old formats

Aarya Rathi, Sameepta Nirankari, Sukhbir Singh Sodhi, Vansh Sahani and Varun Thapar
What is a balance sheet?
The balance sheet is one of the three fundamental financial statements.
The balance sheet displays the company’s total assets, how these assets
are financed and the total liabilities.
The balance sheet is based on the fundamental equation: 
Assets = Liabilities + Equity.
A simple representation of balance
sheet
Format for making balance sheet?

Account format (Old format)

Report format (New format)
The question
Make balance sheet for a business organisation with the given balances.
Cash-₹30000 Furniture-₹15000 Vehicles-₹4000
Stock-₹3400 Bank-₹2300 Capital-₹43500
Loan-₹10000 Trade receivables-₹2000
Trade payables-₹2300 Profits-₹8500
Drawings-₹7600
Account format of balance sheet
Liabilities Amount Assets Amount

Capital (43500+8500-7600) 44400 Cash 30000

Loan 10000 Furniture 15000

Trade payable 2300 Vehicles 4000

Stock 3400

Bank 2300

Trade receivables 2000

56700 56700
The question
Make balance sheet for a business organisation with the given balances.
Cash-₹30000 Furniture-₹15000 Vehicles-₹4000
Stock-₹3400 Bank-₹2300 Capital-₹43500
Loan-₹10000 Trade receivables-₹2000
Trade payables-₹2300 Profits-₹8500
Drawings-₹7600
Report format of balance sheet
Particulars Note no. Amount

I. Equity and liabilities

1. Shareholder’s fund
a) Capital 35900

b) Reserves & surplus 8500

2. Non- current liability

a) Loan 10000

3. Current liability
a) Trade payable 2300

Total 56700

II. Assets
1. Non-current assets
a) Fixed assets
(i) Tangible assets 1 19000

2. Current assets
a) Cash & Cash equivalents 2 35700

b) Trade receivables 2000

56700
 Report format of balance sheet
Particulars Amount

1. Tangible Assets

Furniture 15000

Vehicles 4000

19000

2. Cash & cash equivalents

Cash 30000

Bank 2300

Stock 3400

35700