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Question 10 Chapter 4 - Unimax Publication Class 12 Part 2 - 2021
The following figures were extracted from the Trial Balance of X Ltd. share capital of 20,000 equity shares of ₹ 10 each fully paid.
| Securities premium | ₹ 20,000 |
| 12% debenture | ₹ 80,000 |
| Fixed Deposit | ₹ 20,000 |
| Creditors | ₹ 15,000 |
You are required to draw up the liabilities side of the Balance Sheet according to the requirements of the Companies Act.
Balance sheet (Extraction only)
| Equity and Liabilities | Note | Amount ₹ | |
|---|---|---|---|
| 1. Shareholder Fund | |||
| Share capital | 2,00,000 | ||
| Reserve and Surplus (securities premium) | 2,00,000 | ||
| 2. Non-Current Liabilities | |||
| 12% Debenture | 80,000 | ||
| Public deposit | 20,000 | 1,00,000 | |
| 3. Current Liabilities | |||
| Trade Payable (creditors) | 15,000 | ||
| 3,35,000 |
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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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