7. Prepare a balance sheet of Black Swan Ltd., as at March 31, 2017 form the following information:
| General Reserve | 3,000 |
| 10% Debentures | 3,000 |
| Statement of Profit & Loss | 1,200 |
| Depreciation on fixed assets | 700 |
| Gross Block | 9,000 |
| Current Liabilities | 2,500 |
| Preliminary Expenses | 300 |
| 6% Preference Share Capital | 5,000 |
| Cash & Cash Equivalents | 6,100 |
Extract of Balance Sheet
as at March 31,2017
| Particulars | Note No. | Amount (Rs.) |
| I. Equity and Liabilities | ||
| 1. Shareholders’ Funds | ||
| a. Share Capital | 1 | 5,000 |
| b. Reserves and Surplus | 2 | 4,200 |
| 2. Non-Current Liabilities | ||
| a. Long-term Borrowings | 3 | 3,000 |
| 3. Current Liabilities | 2,500 | |
| Total | 14,700 | |
| II. Assets | ||
| 1. Non-Current Assets | ||
| a. Fixed Assets | ||
| i. Tangible Assets | 4 | 8,300 |
| 2. Current Assets | ||
| a. Cash and Cash Equivalents | 5 | 6,100 |
| b. Other Current Assets | 6 | 300 |
| Total | 14,700 |
Notes to Accounts
| Particulars | Amount (Rs.) | |
| 1. Share Capital | ||
| 6% Preference Share Capital | 5,000 | |
| 2.Reserve and Surplus | ||
| General Reserve | 3,000 | |
| Statement of Profit or Loss | 1,200 | 4,200 |
| 3.Long Term Borrowings | ||
| 10% Debentures | 3,000 | |
| 4. Tangible Assets | ||
| Fixed Assets | 9,000 | |
| Less: Depreciation | 700 | 8,300 |
| 5.Cash and Cash Equivalents | ||
| Cash | 6,100 | |
| 6. Other Current Assets | ||
| Preliminary Expenses | 300 |