QUESTION 57 The following extract of Balance Sheet of Gaurav Ltd. Was obtained: Balance Sheet (Extract) as on 31st March, 2018 Liabilities Rs. Authorised capital: 90,000, 14% preference shares of Rs.100 90,00,000 9,00,000 Equity shares of Rs.100 each 9,00,00,000 9,90,00,000 Issued and subscribed capital: 67,500, 14% preference shares of Rs.100 each fully 67,50,000 paid 5,40,000 Equity shares of Rs.100 each, Rs.80 paid- 4,32,00,000 up Share suspense account 90,00,000 Reserves and surplus Capital reserves (Rs.6,75,000 is revaluation reserve) 8,77,500 Securities premium 2,25,000 Secured loans: 2,92,50,000 16,65,000 5,92,500 15% Debentures Unsecured loans: Public deposits Cash credit loan from SBI (short term) Current Liabilities: Trade Payables Assets: Investment in shares, debentures, etc. Profit and Loss account (Dr. balance) 15,52,500 3,37,50,000 68,62,500 Share suspense account represents application money received on shares, the allotment of which is not yet made. You are required to compute effective capital as per the provisions of Schedule V. Would your answer differ if Gaurav Ltd. is an investment company