Based upon the trial balance of Star Limited as given in the problem 8 of Chapter 5, prepare the balance sheet of the company as on 31st March 2017. Make suitable assumptions as necessary.

problem 8

Star Limited has an authorized capital of ₹ 600 million divided into 60 million equity shares of ₹ 10 each. The trial balance of the company for the year ended 31st March 2017 is as follows:

Trial Balance of Star Limited as on 31st March 2017

Additional Information

You are required to prepare the profit and loss statement for the year ended 31st March 2017.

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Particulars Premises Machinery Furniture Bank Investments Cash Trade receivables Opening stock Purchase Salesreturns General expenses Salaries Interest charges Wages Freight Auditors fees Directors fees Advance payment of tax Dr. (in Million) 274.00 445.25 9.32 132.70 119.19 26.74 144.40 255.40 983.95 17.37 34.58 24.48 6.17 150.34 6.73 11.78 35.96 115.48 2,793.84 Particulars Share capital Trade payables Loan from bank Sales Interest General reserves (1-4-2016) Profit and loss A/c (1-4-2016) Purchase return Accumulated depreciation Premises Machinery Furniture Cr. (in Million) 548.00 85.24 68.50 1,602.76 8.56 102.75 60.81 13.50 49.03 252.22 2.47 2,793.84