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b) Prepare the Balance Sheet of Gauradaha Furniture as on [tex]$31^{\text{st}}$ Dec, 2022[/tex] from the given information.
[4]
\begin{tabular}{|c|r|l|r|}
\hline
Particulars & Amount Rs. & Particulars & Amount Rs. \\
\hline
Share Capital & [tex]$2,80,000$[/tex] & Debtors & 88,000 \\
\hline
Bills payable & 20,000 & Net profit & 65,000 \\
\hline
Cash and Bank & 22,000 & Machinery & [tex]$2,25,000$[/tex] \\
\hline
Reserve fund & 35,000 & \begin{tabular}{l} Business \\ premises \end{tabular} & 75,000 \\
\hline
\end{tabular}

Sagot :

GinnyAnswer
Certainly! Let's create a detailed Balance Sheet of Gauradaha Furniture's as on [tex]$31^{\text{st}}$[/tex] December, 2022 from the given information. A balance sheet is a statement that shows the financial position of a business at a specific point in time. It summarizes the company's assets, liabilities, and shareholders' equity.

### Balance Sheet of Gauradaha Furniture's as on 31st December, 2022

[tex]\[ \begin{array}{|c|c|c|c|} \hline \textbf{Particulars} & \textbf{Amount (Rs.)} & \textbf{Particulars} & \textbf{Amount (Rs.)} \\ \hline \multicolumn{2}{|c|}{\textbf{Liabilities \& Equity}} & \multicolumn{2}{|c|}{\textbf{Assets}} \\ \hline \text{Share Capital} & 280,000 & \text{Debtors} & 88,000 \\ \hline \text{Bills Payable} & 20,000 & \text{Net Profit} & 65,000 \\ \hline \text{Reserve Fund} & 35,000 & \text{Cash and Bank} & 22,000 \\ \hline & & \text{Machinery} & 225,000 \\ & & \text{Business Premises} & 75,000 \\ \hline \textbf{Total Liabilities \& Equity} & 335,000 & \textbf{Total Assets} & 475,000 \\ \hline \end{array} \][/tex]

### Explanation

#### Liabilities & Equity:

1. Share Capital: Rs. 280,000
- This is the money invested in the business by the shareholders.

2. Bills Payable: Rs. 20,000
- These are the short-term liabilities that the business needs to pay.

3. Reserve Fund: Rs. 35,000
- This is an amount set aside from profits for future use or emergencies.

#### Total Liabilities & Equity: Rs. 335,000

#### Assets:

1. Debtors: Rs. 88,000
- These are amounts due from customers for goods or services provided on credit.

2. Net Profit: Rs. 65,000
- This represents the profit after all expenses have been deducted from revenue.

3. Cash and Bank: Rs. 22,000
- This is the amount of cash the business has on hand and in bank accounts.

4. Machinery: Rs. 225,000
- This represents the value of the machinery owned by the business.

5. Business Premises: Rs. 75,000
- This is the value of the physical location from which the business operates.

#### Total Assets: Rs. 475,000

### Balancing the Sheet

The totals for liabilities and equity amount to Rs. 335,000 while the total for assets is Rs. 475,000. This discrepancy indicates that there might be missing components or provided numbers might be incorrect. However, working on the provided numbers, the balance sheet demonstrates the financial situation as described.

This concludes the financial position of Gauradaha Furniture's as on 31st December, 2022.
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