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AFM-Assignment-2021: Trial Balance As On 31 March 2015

The document contains 3 questions: 1) Prepare a balance sheet for XYZ Ltd from the trial balance provided. 2) Prepare financial statements for Agro India Ltd from their trial balance. 3) Explain how financial statements are useful to various stakeholders of an organization.

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SILLA SAIKUMAR
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455 views1 page

AFM-Assignment-2021: Trial Balance As On 31 March 2015

The document contains 3 questions: 1) Prepare a balance sheet for XYZ Ltd from the trial balance provided. 2) Prepare financial statements for Agro India Ltd from their trial balance. 3) Explain how financial statements are useful to various stakeholders of an organization.

Uploaded by

SILLA SAIKUMAR
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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AFM- Assignment-2021

1. Prepare Balance sheet of XYZ Ltd., in the prescribed pro forma as on 31st March 2015 from the
following Trial balance

Trial Balance as on 31st March 2015

Particulars Rs. Particulars Rs.


Leasehold property 16,00,000
Bank balance 1,05,000 Share Capital 20,65,000
Plant & Machinery 9,00,000 Staff Provident fund 8,00,000
Goodwill 3,00,000 Capita redemption reserve 2,20,000
Investment in a subsidiary Co. 11,50,000 General reserve 1,90,000
P & L A/c 70,000 Deposits from public 9,00,000
Stock of finished goods 1,20,000 Accounts payable 2,10,000
Accounts receivable 2,40,000 Short Term loan from SBI 1,78,000
Preliminary Expenses 39,000 Unclaimed dividend 6,000
Underwriting commission 45,000
========= =========
45,69,000 45,69,000
========= =========

2. The following Trial Balance has been extracted from the books of Agro India Ltd. on
31.03.2015
Trial Balance as on 31st March 2015
Debit Rs. Credit Rs.
Plant & Machinery 9,00,000 Sinking Fund 1,00,000
Stock of raw material 1,75,000 Sundry Creditors 1,00,000
Live stock 4,30,000 Equity Share capital 15,00,000
Loan to director 1,35,000 15% Debentures 25,000
IFCI Bonds 2,00,000 Outstanding salary 10,000
Profit & Loss A/c 10,000 Proposed dividend 2,00,000
Patents 3,74,000 Revaluation Reserve 1,65,000
Discount on issue of shares 25,000 Mortgage Loan 2,54,000
Interest Accrued 1,05,000
23,54,000 23,54,000

3. Explain how financial statements are useful to the various parties who are
interested in the affairs of an undertaking?

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