QUESTION 83 (PAST PAPER NOVEMBER 18) The following extract of Balance Sheet of Prabhat Ltd. (Non investment Company) was obtained: Balance Sheet (Extract) as on 31st March, 2019 Rs. Liabilities Issued and subscribed capital: 30,000, 12% preference shares of Rs. 100 each (fully paid) 24,00,000 equity shares of Rs.10 each, Rs. 8 paid up 30,00,000 1,92,00,00 0 40,00,000 Share suspense account Reserves and Surplus: Securities premium Capital reserves (Rs. 3,00,000 is revaluation reserve) Secured loans: 12% debentures 1,00,000 3,90,000 1,30,00,00 0 7,40,000 Unsecured loans: Public deposits Current liabilities: Trade payables Cash credit from SBI (short term) Assets Investments in shares, debentures etc. 6,90,000 9,30,000 1,50,00,00 0 30,50,000 Profit & loss account (Dr. balance) 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 Prabhat Ltd. is an investment company