Question 4 The following is the Trial Balance of Anmol Limited as on 31st March, 2022: Debit BalanceAmount (₹)Credit BalancesAmount (₹) Purchases82,95,000Sales1,25,87,000 Wages and Salaries12,72,000Commission72,500 Rent2,20,000Equity Share Capital10,00,000 Rates and Taxes50,000General Reserve10,00,000 Selling & Distribution Expenses4,36,000Surplus (P&L A/c) 01.04.20218,75,500 Directors Fees32,000Securities Premium2,50,000 Bad Debts38,500Term Loan from Public Sector Bank1,02,00,000 Interest on Term Loan8,05,000Trade Payables55,08,875 Land24,00,000Provision for Depreciation: Factory Building36,80,000On Plant & Machinery9,37,500 Plant and Machinery62,50,000On Furniture and Fittings82,500 Furniture and Fittings8,25,000On Factory Building1,84,000 Trade Receivables64,75,000 Advance Income Tax Paid37,500Provision for Doubtful Debts25,000 Stock (1st April,2021)9,25,000Bills Payable1,25,000 Bank Balances9,75,000 Cash on Hand1,31,875 Total3,28,47,875Total3,28,47,875 Following information is provided: (1) The Authorized Share Capital of the Company is 2,00,000 Equity Shares of ₹10 each. The Company has issued 1,00,000 Equity Shares of ₹10 each. (2) Rent of ₹20,000 and Wages of ₹1,56,500 are outstanding as on 31st March, 2022. (3) Provide Depreciation @ 10% per annum on Plant and Machinery, 10% on Furniture and Fittings and 5% on Factory Building on written down value basis. (4) Closing Stock as on 31st March, 2022 is ₹11,37,500. (5) Make a provision for Doubtful Debt @ 5% on Debtors. (6) Make a provision of 25% for Corporate Income Tax. (7) Transfer ₹1,00,000 to General Reserve. (8) Term Loan from Public Sector Bank is secured against Hypothecation of Plant and Machinery. Installment of Term Loan falling due within one year is ₹17,00,000. (9) Trade Receivables of ₹85,600 are outstanding for more than six months. (10) The Board declared a dividend @10% on Paid up Share Capital on 5th April, 2022. You are required to prepare Balance Sheet as on 31st March 2022 and Statement of Profit and Loss with Note to Accounts for the year ending 31st March, 2022 as per Schedule III of the Companies Act, 2013. Ignore previous years' figures.