Answer to Question #215243 in Mechanical Engineering for KHALID

Question

From the following balances relating to Software India Ltd. prepare the Balance sheet as at 31st December 2005. (a) Equity capital 36,42,58,510 (b) Reserves and surplus 23,58,26,861 (c ) Debentures 1,03,36,000 (d) Secured loans 21,27,57,441 (e) Fixed assets 37,07,93,048 (f) Investments 5,94,80,459 (g) Inventories 20,78,28,095 (h) Sundry debtors 10,21,66,468 (i) Cash and Bank balances 1,49,87,264 (j) Other current assets 57,75,568 (k) Loans and Advances 12,49,59,370 (l) Current Liabilities 4,71,71,358 (m) Provisions 4,64,19,410 (n) Miscellaneous expenditure 3,07,79,308 The balance sheet may be prepared in account form and report form.

Answer 1

To give a practical insight about the various aspects of profit and loss account and of a balance sheet, use the sample balance sheet.