3. From the following information prepare the balance sheet of Gitanjali Ltd.
Inventories Rs. 14,00,000; Equity Share Capital Rs. 20,00,000; Plant and Machinery Rs. 10,00,000; Preference Share Capital Rs. 12,00,000; Debenture Redemption Reserve Rs. 6,00,000; Outstanding Expenses Rs. 3,00,000; Proposed Dividend Rs. 5,00,000; Land and Building Rs. 20,00,000; Current Investments Rs. 8,00,000; Cash Equivalent Rs. 10,00,000; Short term loan from Zaveri Ltd. (A Subsidiary Company of Twilight Ltd.) Rs. 4,00,000; Public Deposits Rs. 12,00,000.
Balance Sheet
| Particulars | Note No. | Amount (Rs.) |
| I. Equity and Liabilities | ||
| 1. Shareholders’ Funds | ||
| a. Share Capital | 1 | 32,00,000 |
| b. Reserves and Surplus | 2 | 6,00,000 |
| 2. Non-Current Liabilities | ||
| a. Long-term Borrowings | 3 | 12,00,000 |
| 3. Current Liabilities | ||
| a. Other Current Liabilities | 4 | 3,00,000 |
| b. Short-term Borrowings | 5 | 4,00,000 |
| c. Short-term Provisions | 6 | 5,00,000 |
| Total | 62,00,000 | |
| II. Assets | ||
| 1. Non-Current Assets | ||
| a. Fixed Assets | ||
| i. Tangible Assets | 7 | 30,00,000 |
| ii. Intangible Assets | ||
| b. Non-Current Investments | ||
| 2. Current Assets | ||
| a. Inventories | 14,00,000 | |
| b. Current Investments | 8,00,000 | |
| c. Cash and Cash Equivalents | 10,00,000 | |
| Total | 62,00,000 |
Notes to Account
| Particulars | Amount (Rs.) | |
| 1. Share Capital | ||
| Equity Share Capital | 20,00,000 | |
| Preference Share Capital | 12,00,000 | 32,00,000 |
| 2.Reserve and Surplus | ||
| Debenture Redemption Reserve | 6,00,000 | |
| 3. Long-term Borrowings | ||
| Public Deposits | 12,00,000 | |
| 4. Other Current Liabilities | ||
| Outstanding Expenses | 3,00,000 | |
| 5. Short-term Borrowings | ||
| Loan from Zaveri Ltd. | 4,00,000 | |
| 6. Short-Term Provisions | ||
| Proposed Dividend | 5,00,000 | |
| 7. Tangible Assets | ||
| Land and Building | 20,00,000 | |
| Plant and Machinery | 10,00,000 | 30,00,000 |