From the following particulars furnished by the Prashant Ltd., prepare the Balance Sheet as at 31st March, 2024 as required by Schedule III of the…

Prashant Ltd. Balance Sheet as on 31st March, 2024 Particulars Notes ₹ Equity and Liabilities 1 Shareholders' funds a Share capital 1 14,95,000 b Reserves and Surplus 2 3,76,800 2 Non-current liabilities Long-term borrowings 3 3,65,000 3 Current liabilities a Trade Payables 2,67,000 b Other current liabilities 4 10,000 c Short-term provisions 5 72,000 Total 25,85,800 Assets 1 Non-current assets Property, Plant and Equipment 6 15,95,000 2 Current assets a Inventories 3,15,000 b Trade receivables 7 2,95,000 c Cash and bank balances 8 3,22,300 d Short-term loans and advances 58,500 Total 25,85,800 Notes to accounts ₹ 1 Share Capital Equity share capital Issued & subscribed & fully paid up 1,50,000 Equity Shares of 10each (of the above 10,000 shares have been issued for consideration other than cash) 15,00,000 Less: Calls in arrears (5,000) 14,95,000 2 Reserves and Surplus General Reserve 2,70,000 Profit & Loss balance 1,06,800 Total 3,76,800 3 Long-term borrowings Secured Loan from State Financial Corporation (2,10,000-10,000) 2,00,000 (Secured by hypothecation of Plant and Machinery) Unsecured Loan 1,65,000 Total 3,65,000 4 Other current liabilities Interest accrued but not due on loans (SFC) 10,000 5 Short-term provisions Provision for taxation 72,000 6 Property, Plant & Equipment Land 5,50,000 Building 5,50,000 Less: Depreciation(b.f.) (65,000) 4,85,000 Plant & Machinery 6,25,000 Less: Depreciation (b.f.) (65,000) 5,60,000 Total 15,95,000 7 Trade receivables Outstanding for a period exceeding six months 55,000 Other Amounts 2,40,000 Total 2,95,000 8 Cash and bank balances Cash and cash equivalents Cash at bank 2,85,000 Cash in hand 37,300 Other bank balances Nil Total 3,22,300