The following balances have been extracted from the books of Vanity Ltd. as at 31st March, 2017:
Trial Balance as at 31st March, 2017
| Particulars | Debit | Credit |
| Equity Share Capital (5,000 shares of Rs.100 each fully paid) | | 5,00,000 |
| Fixed Assets | 7,30,000 | |
| Reverses and Surplus | | 2,00,000 |
| Inventories | 50,000 | |
| Cash and Bank Balances | 1,70,000 | |
| Creditors | | 40,000 |
| Bills Payable | | 20,000 |
| Underwriting Commission on issue of shares | 10,000 | |
| 5% Debentures (1/5 of the Debentures to be redeemed on 31st March, 2018) Proposed Dividend | | 2,00,000 |
| Proposed Dividend | | 12,000 |
| Interest accrued and due on 5% Debentures | | 8,000 |
| Trade Receivables | 20,000 | |
| Total | 9,80,000 | 9,80,000 |
You are required to prepare as at 31st March, 2017:
(i) The Balance Sheet of Vanity Ltd. as per Schedule III of the Companies Act, 2013.
(ii) Notes to Accounts
