The following ledger balances were extracted from the books of Varun Ltd., as on 31 st March
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The following ledger balances were extracted from the books of Varun Ltd., as on 31st March 2016:
Land & Building ₹2,00,000; 12% Debentures ₹2,00,000; Share Capital ₹10,00,000 (equity shares of ₹10 each, fully paid-up; Plant & Machinery ₹8,00,000; Goodwill ₹2,00,000; Investment in shares of Raja Ltd. ₹2,00,000; General reserve ₹1,95,000; Stock in trade ₹1,00,000; Bills receivable `50,000; Debtors ₹1,50,000; Creditors ₹1,00,000; Bank loan (unsecured) ₹1,00,000; Provision for tax ₹50,000; Proposed dividend ₹55,000.
Prepare the balance sheet of the company as per revised Schedule VI, Part 1 of the Companies Act, 1956.
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