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Final Accounts of Companies—Application of Schedule III, Part I... 10.9
Notes to Accounts

1. Share Capital `
Authorised Capital
... Equity Shares of ` 100 each ...
Issued Capital
4,000 Equity Shares of ` 100 each 4,00,000
Subscribed Capital
Subscribed and Fully Paid-up
4,000 Equity Shares of ` 100 each 4,00,000
2. Reserves and Surplus
Surplus, i.e., Balance in Statement of Profit and Loss (Opening Balance) 1,00,000
Less: Underwriting Commission 5,000
95,000
3. Long-term Borrowings
5% Debentures 2,00,000
Loan from Subsidiary* 50,000
2,50,000
*Loan from Subsidiary Company is Unsecured.
4. Trade Payables
Creditors 30,000
5. Other Current Liabilities
Interest Accrued and Due on 5% Debentures 10,000
6. Short-term Provisions
Provision for Taxation 25,000
7. Fixed Assets—Tangible
Cost 6,60,000
Less: Accumulated Depreciation 30,000 6,30,000
8. Non-Current Investments
Investments 70,000
9. Trade Receivables
Bills Receivable 20,000
Illustration 4.
From the list of following assets and liabilities, prepare Balance Sheet of the Company as
per Schedule III, Part I of the Companies Act, 2013:
NISHANT COMPANY LTD.
Liabilities ` Assets `
Sundry Creditors 1,00,000 Cash at Bank 79,800
General Reserve 50,000 Cash in Hand 1,500
Accrued Interest on Debentures 28,000 Investments (Government Bonds) 95,000
Authorised Capital Preliminary Expenses 9,000
1,20,000 Equity Shares of Loans and Advances to Staff 95,000
` 10 per Share 12,00,000 Goodwill 50,000
Subscribed Capital Building 6,00,000
80,000 Equity Shares of Plant and Machinery 6,60,000
` 10 each 8,00,000 Less: Depreciation 66,000 5,94,000
Less: Calls-in-Arrears 15,000 7,85,000 Stock-in-Trade 10,000
Surplus, i.e., Balance in Statement of Debtors 1,74,000
Profit and Loss 75,000 Less: Provision for Doubtful Debts 8,700 1,65,300
6% Debentures 6,00,000 Furniture 14,400
Bills Payable 76,000