1.

    Following is
Trial Balance of
Deva Ltd as on
31.03.2020.

Debit balances Rs. Credit balances Rs.

Fixed assets (Ne 750,000 Equity share cap 440,000
Investments * 250,000 9% Pref. shares 100,000
Closing stock 375,000 Profit and loss 280,000
Debtors* 122,500 Securities prem 30,000
Staff advance 100,000 Debentures red 200,000
Prepaid expense 45,000 General reserve 75,000
Advance to supp 27,500 8% Debentures 525,000
Cash in hand 12,500 Creditors 58,500
Bank balance 110,000 Bills payable 21,500
Provision for ta 62,500

TOTAL 1,792,500 TOTAL 1,792,500

Additional
information:
1)    Entire Authorized share capital has been issued and subscribed
2)    Of the debtors debts due for more than six
months is Rs 22,500. All debts are unsecured
and considered to be good.
3)    Ignore previous year's figure
After considering the above adjustments, prepare Balance sheet of the company as on 31.3.2020 as per schedule VI requirements.

4) The
Directors have
recommended
the following

Transfer Rs 20000 To Gen Reserve

Proposed a Dividend on Equity shares @ 10%
Investments are in Equity Shares of a company whose market value on 31-3-2020 was Rs 275000
 Part-I - Form of Balance Sheet
Name of the Company: .............................................................
Balance Sheet as at: ..................................................................

Particulars Note No. Figure as at the

I. EQUITY AND LIABILITIES

-1 Shareholders’ Funds

(a) Share Capital 540000

(b) Reserves & Surplus 541000
(c) Money Received against Share Warrants
-2 Share Application money pending allotment

-3 Non-Current Liabilities

(a) Long-Term Borrowings 525000

(b) Deferred Tax Liabilities (DTL) (Net)
was Rs 275000 (c) Other Long-Term Liabilities
(d) Long-Term Provisions
-4 Current Liabilities
(a) Short-Term Borrowings
(b) Trade Payables 80000
(c) Other Current Liabilities
(d) Short-Term Provisions 106500
Total 1792500
II. ASSETS
-1 Non-Current Assets
(a) Fixed Assets
(i) Tangible Assets 750000
(ii) Intangible Assets
(iii) Capital WIP
(iv) Intangible Assets under Development
(b) Non-Current Investments 250000
(c) Deferred Tax Assets (DTA) (Net)
(d) Long-Term Loans & Advances
(e) Other Non-Current Assets
-2 Current Assets
(a) Current Investments
(b) Inventories 375000
(c) Trade Receivables 122500
(d) Cash & Cash Equivalents 122500
(e) Short-Term Loans & Advance172500
(f) Other Current Assets
Total 1792500

Part II-Form of Statement Of Profit And Loss

Name of the Company :…………………………………………………
Profit and Loss Statement for the year ended:……………………………………….. (Rs. in ……..)
Figure as at
the end of
Particulars Note No. Current
Reporting
Period (Rs.)
I. Revenue from
Operations
II. Other Income

III. Total Revenue

(I+II)
Expenses:

Cost of
Materials
Consumed

Purchases of
Stock-In-Trade

IV
 Changes in
Inventories of
Finished Goods
/ Work-in-
progress and
IV Stock-In-Trade

Employee
Benefits
Expense

Finance Costs

Depreciation
and
Amortization
Expense

Other
Expenses
Total Expenses

Profit before
Exceptional &
V Extraordinary
Items and Tax
(III – IV)

Exceptional
VI Items

Profit before
VII Extraordinary
Items and IAX
(V-VI)

Extraordinary
VIII
Items

IX Profit before
Tax (VII-VIII)
Tax Expenses:
(1) Current Tax
X
(2) Deferred
Tax

Profit /(Loss)
for the period
from
XI Continuing
Operations (IX
– X)
 Profit /(Loss)
XII from
Discontinuing
Operations

Tax Expense of
XIII Discontinuing
Operations

Profit /(Loss)
from
Discontinuing
XIV
Operations
(After Tax) (XII-
XIII)

Profit / (Loss)
XV for the period
(XI + XIV)

Earnings per
Equity Share:
XVI
(1) Basic
(2) Diluted
Notes to Accounts
Share Capital
Authorised Capital
44000 Equity shares Of Rs 10 each 440000
1000 9% Pref Shr Cap Of Rs 100 Each 100000
540000
========
Issued SubSribed and Paid Up Capital
44000 Equity shares Of Rs 10 each 440000
1000 9% Pref Shr Cap Of Rs 100 Each 100000

540000
Reserves & Surplus
Security Premium 30000
Debenture Red Reserve 200000
General Reserve 75000

Add Trf From Profit & loss 20000 95000

Profit & loss 280000

Less proposed Dividend 44000
Less Trf to Gen Reserve 20000 216000
541000
Long Term Borrowing
5250 8% Debentures of Rs 100 Each 525000
( Secured Against Assets of The company)

Trade payables
Creditors 58500
Bills Paya ble 21500
80000

Short Term Provisions

Provision For Taxation 62500
Proposed Dividend 44000

106500
Trade Receivable
Debtors ( Unsecured Considrerd Good)
Due For More Than 6 Months 22500
Others 100000 122500

Short Term Loans & Advances

Prepaid Exps 45000
Staff Advance 100000
Advance to Suppliers 27500

172500

Cash & Cash Equivalents

Cash in hand 12500
Bank Balance 110000

122500

Investments
Investments 250000
Investment in Equity shares Of a company
( Market value Rs 275000 )