You are required to prepare a Balance Sheet as at 31st March 2026, as per Schedule III of the Companies Act, 2013, from the following information of…

CA Intermediate · Advanced Accounting · MTP · September 2026
You are required to prepare a Balance Sheet as at 31st March 2026, as per Schedule III of the Companies Act, 2013, from the following information of Vishnu Ltd.: Particulars Amount (₹) Particulars Amount (₹) Term Loans (Secured) 40,00,000 Investments (Non-current) 9,00,000 Trade payables 45,80,000 Profit for the year 32,00,000 Cash and Bank Balances 38,40,000 Trade receivables 49,00,000 Staff Advances 2,20,000 Miscellaneous Expenses 2,32,000 Other advances (given by Co.) 14,88,000 Loan from other parties 8,00,000 Provision for Taxation 10,20,000 Provision for Doubtful Debts 80,000 Securities Premium 19,00,000 Stores 16,00,000 Loose Tools 2,00,000 Finished Goods 30,00,000 General Reserve 62,00,000 Plant and Machinery (WDV) 2,14,00,000 Additional Information: - 1. Share Capital consists of- (a) 1,20,000 Equity Shares of ₹ 100 each fully paid up. (b) 40,000, 10% Redeemable Preference Shares of ₹ 100 each fully paid up. 2. Write off the amount of Miscellaneous Expenses in full, amounting ₹ 2,32,000. 3. Staff Advances and Other Advances are Considered to be short term

Suggested Answer and Working Notes:

Balance Sheet of Vishnu Ltd. as at 31st March, 2026 Note ₹ I EQUITY AND LIABILITIES: (1) (a) Share Capital 1 1,60,00,000 (b) Reserves and Surplus 2 110,68,000 (2) Non-current Liabilities Long term Borrowings– Terms Loans (Secured) 40,00,000 (3) Current Liabilities (a) Trade Payables 45,80,000 (b) Other current liabilities 3 8,00,000 (c) Short-term Provisions (Provision for taxation) 10,20,000 Total 3,74,68,000 II ASSETS (1) Non-current Assets (a) Property, Plant and Equipment 4 214,00,000 (b) Non-current Investments 9,00,000 (2) Current Assets: (a) Inventories 5 48,00,000 (b) Trade Receivables 6 48,20,000 (c) Cash and Cash Equivalents 38,40,000 (d) Short-term Loans and Advances 7 17,08,000 Total 3,74,68,000 Notes to accounts (₹) 1. Share Capital Authorized, issued, subscribed & called up 1,20,000, Equity Shares of ₹ 100 each 1,20,00,000 40,000 10% Redeemable Preference Shares of 100 each 40,00,000 1,60,00,000 2. Reserves and Surplus Securities Premium Account 19,00,000 General reserve 62,00,000 Profit & Loss Balance Opening balance Profit for the period 32,00,000 Less: Miscellaneous Expenditure written off (2,32,000) 29,68,000 110,68,000 3. Other current liabilities Loan from other parties 8,00,000 4. Property, plant and equipment Plant and Machinery (WDV) 214,00,000 5. Inventories Finished Goods 30,00,000 Stores 16,00,000 Loose Tools 2,00,000 48,00,000 6. Trade Receivables Trade receivables 49,00,000 Less: Provision for Doubtful Debts (80,000) 48,20,000 7. Short term loans & Advances Staff Advances* 2,20,000 Other Advances* 14,88,000 17,08,000

Topics: Preparation of Financial Statements

Open in Interactive Practice Hub · Full Practice Hub · Chapter Weightage · More in this subject

Related Questions in this Topic