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Question 06 Chapter 1 of +2-B
Arrangement of Balance sheet Items
6. (Negative Balance: Reserve and Surplus) Jupitor Limited, has the following balances as on 31st March 2018.
| Rs | |
| General Reserve | 12,00,000 |
| The surplus in Statement of profit and loss (Opening) | (7,50,000) |
There is a loss of Rs 6,00,000 during the year ended 31st March 2018. exhibits the items in the Balance Sheet.
Balance Sheet of Jupitor Limited
| Particulars |
Note no. | Amount |
|---|---|---|
| I. Equity and Liabilities | ||
| 1. Shareholders’ Funds | ||
| Reserve & Surplus | 1 | (1,50,000) |
| Total | (1,50,000) |
Notes to Accounts
| Particulars |
Note no. | Amount | |
|---|---|---|---|
| 1. Reserve & Surplus | |||
| General Reserve | 12,00,000 | ||
| Surplus | 2,50,000 | ||
| Opening Balance | (7,50,000) | ||
| Surplus (Loss) for the period | (6,00,000) | (13,50,000) | |
| (1,50,000) | |||
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Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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