Question 4 The following is the Trial Balance of Falgun Ltd., as on 31st March, 2023: ParticularsDebit Amt. in (₹)Credit Amt. in (₹) Equity Share Capital (Fully paid-up shares of ₹100 each)10,00,000 10% Preference Share Capital of Face Value 100 each4,00,000 General Reserve2,85,000 2,000 10% Debentures of ₹100 each2,00,000 Securities Premium Account50,000 Land (at Cost)7,00,000 Plant and Machinery14,70,000 Furniture4,00,000 Provision for Depreciation - Plant and Machinery3,00,000 Provision for Depreciation - Furniture1,90,000 Trade Receivables3,10,000 Trade Payables72,000 Cash-in-Hand1,34,000 Cash-at-Bank3,05,000 Bank Over Drafts from Nationalized bank (Long Term) (Secured by Hypothecation of Stocks)2,00,000 6% Secured Loan from State Finance Corporation (repayable after 3 years) (Secured by Hypothecation of Plant and Machinery)4,50,000 Unclaimed Dividend23,000 Loan from Director (Short Term)1,00,000 Adjusted Purchases2,25,000 Closing Stock1,12,000 Sales8,46,000 Carriage Inward17,200 Miscellaneous Expenses10,200 Selling and Distribution Expenses46,600 Depreciation1,80,000 Salaries72,000 Director's Fees40,000 Travelling Expenses (include ₹50,000/- for foreign tour)1,30,000 Profit and Loss Account40,000 Office Expenses28,000 Rent Received24,000 Total41,80,00041,80,000 Additional Information: (i) Authorized Capital - divided into - (a) 20,000 equity shares of ₹100 each. (b) 10,000 10% preference shares or ₹100 each (ii) Equity shares include, 2,500 equity shares issued for consideration other than cash. (iii) The company has land professionally valued and decides to include it in the Balance sheet at its valuation of ₹8,50,000. (iv) It is proposed to capitalize part of the undistributed profits by making bonus issue to the shareholders by allocating one equity share of ₹100 each for every 5 shares held. (v) Trade Receivables of ₹46,000 are due for more than six months. There is no doubtful amount. (vi) Depreciation expenses include depreciation of ₹1,10,000 on Plant and Machinery and that of ₹70,000 on Furniture. (vii) Cash-at-Bank include ₹55,000 with Desire Bank Ltd., which is not scheduled Bank. (viii) Miscellaneous expenses included ₹5,000 being audit fees paid to auditors. (ix) Bill Receivables for ₹35,000 maturing on 31st July, 2023 has been discounted. (x) Balance of secured loan from State Finance Corporation is inclusive of ₹36,000 for interest accrued but not due. (xi) Directors declared final dividend @ 8% on 6th April, 2023, transferring any amount that may be required from General Reserve. Ignore Taxation. (xii) Interest on debenture for the year is outstanding as on 31st March, 2023. You are required to prepare Balance Sheet as on 31st March, 2023 and Statement of Profit and Loss with Notes to Accounts for the year ending 31st March, 2023 as per Schedule III of the Companies Act, 2013. Ignore previous years' figures. (Ignore taxation). (All workings should form part of the answer)