Page 231 - MA-12

9.20 Double Entry Book Keeping (Section A)—ISC XII

Illustration 8.
Following balances have been extracted from the books of Foresquare Ltd. as at
31st March, 2019:

` `
Equity Share Capital 10,00,000 Accumulated Depreciation 75,000
(fully paid shares of ` 100 each) Provision for Tax 62,500
Fixed Assets (At cost) 16,50,000 Surplus, i.e., Balance in Statement of Profit & Loss 2,37,500
Inventories 1,00,000 8% Debentures (secured against land) 5,00,000
Cash and Bank Balances 1,40,000 Unsecured Loan from Subsidiaries 1,25,000
Creditors 75,000 Investments (Non-current) 1,75,000
Bills Receivable 50,000 Interest accrued and due on 8% Debentures 40,000

You are required to prepare Balance Sheet of Foresquare Ltd. as at 31st March, 2019, as per Schedule III,
Part I of the Companies Act, 2013.

Solution: Foresquare Ltd.

BALANCE SHEET
as at 31st March, 2019

Particulars Note No. `
I. EQUITY AND LIABILITIES
1. Shareholders’ Funds
(a) Share Capital 1 10,00,000
(b) Reserves and Surplus 2 2,37,500
2. Non-Current Liabilities
Long-term Borrowings 3 6,25,000
3. Current Liabilities
(a) Trade Payables 4 75,000
(b) Other Current Liabilities 5 40,000
(c) Short-term Provisions 6 62,500
Total 20,40,000
II. ASSETS
1. Non-Current Assets
(a) Fixed Assets:
Tangible 7 15,75,000
(b) Non-Current Investments 8 1,75,000
2. Current Assets
(a) Inventories 1,00,000
(b) Trade Receivables 9 50,000
(c) Cash and Bank Balances 10 1,40,000
Total 20,40,000