Q.5 From the following particulars furnished by M Ltd., prepare the Balance Sheet as on 31" March 20X1 as required by Part 1, Schedule Ill of Companies Act, 2013. Particulars Equity shares (Face Value 100 each) Calls in Arrears Land and Building Plant and Machinery Furniture General Reserve Loan from State Financial Credit (Rs) 50,00,000 Debit (Rs) 5,000 27,50,000 25,25,000 25,000 10,50,000 7,50,000 Corporation Inventory: Raw Material 2.50,000 Finished Goods 10,00,000 12.50.000 Provision for Taxation 6.40,000 Trade Receivables 10.00.000 Short term Advances 2,13.500 Profit & Loss Account 4,33.500 Cash in Hand 1,50,000 Cash at Bank 12.35.000 Unsecured Loan 6,05,000 Trade Payables (for Goods and 8,00,000 Expenses) Loan & Advances from related parties 2,00,000 The following additional information is also provided: i) ii) iii) iv) 1) 10.000 Equity shares were issued for consideration other than cash Trade receivables of Rs 2.60.000 are due for more than 6 months The cost of Assets were: Building Rs. 30.00.000. Plant and Machinery Rs. 35,00,000 and Furniture Rs. 3.12,500 The Balance of Rs 7.50,000 in the Loan account with State Finance Corporation is inclusive of Rs 37,500 for Interest Accrued but not due. The Loan is secured by Hypothecation of Plant and Machinery Balance at Bank includes Rs.10.000 with Omega Bank Ltd which is not a Scheduled Bank vi) Transfer of Rs 20,000 to General Reserve is proposed by Board of Directors [14]