Page 268 - ISCDEBK-12

Final Accounts of Companies—Application of Schedule III, Part I... 10.19

Notes to Accounts
1. Share Capital `
Authorised Capital
10,000 Equity Shares of ` 10 each 1,00,000
2,000; 6% Preference Shares of ` 10 each 20,000
1,20,000
Issued Capital
8,000 Equity Shares of ` 10 each 80,000
2,000; 6% Preference Shares of ` 10 each 20,000
1,00,000
Subscribed Capital
Subscribed and Fully Paid-up
2,000; 6% Preference Shares of ` 10 each 20,000
Subscribed but not Fully Paid-up
8,000 Equity Shares of ` 10 each 80,000
Less: Calls-in-Arrears 2,000 78,000
98,000
2. Reserves and Surplus
General Reserve (transferred from Surplus, i.e., Balance in Statement of Profit and Loss) 3,000
Surplus, i.e., Balance in Statement of Profit and Loss:
Opening Balance ...
Add: Balance of Statement of Profit and Loss (Profit for the year) 13,570
13,570
Less: Appropriations:
General Reserve 3,000 10,570
13,570
3. Trade Payables
Trade Creditors 900
4. Short-term Provisions
Provision for Doubtful Debts 300
5. Tangible Assets
(i) Premises 68,000
(ii) Machinery 30,000
Less: Provision for Depreciation 6,000 24,000
(iii) Fixtures and Fittings 6,000
Less: Provision for Depreciation 600 5,400
97,400
6. Inventories
Stock 7,000
7. Trade Receivables
Debtors 6,300
8. Cash and Bank Balances
Cash in Hand 70
Cash at Bank 2,000
2,070

Contingent Liabilities: Dividend has been proposed for the year ended 31st March, 2020:
On 6% Preference Shares ` 1,200
On Equity Shares ` 7,800