Question 16 Chapter 1 of +2-B - T.S. Grewal 12 Class

Question 16 Chapter 1 of +2-B

16. Under which of the heads will the following items be shown while
preparing Balance Sheet of a company, as per Schedule III of the
Companies Act; 2013:

(i) Unamortised Loss on Issue of Debentures (to be written of after 12 months from the date of Balance Sheet);
(ii)10% Debentures;	(iii) Stock-in-Trade;	(iv) Cash at Bank;
(v) Bills Receivable;	(vi) Goodwill;	(vii) Loose Tools
(viii)Truck;	(ix) Provision for Tax;	(x) Sundry Creditors?

 

The solution of Question 16 Chapter 1 of +2-B: - 

Items	Heads	Sub. Heads
(i)Unamortised Loss on Issue of Debentures (to be written of after 12 months from the date of Balance Sheet)	Non-Current Assets	Other Non-Current Assets
(ii)10% Debentures	Non-Current Liabilities	Long-term Borrowing
(iii) Stock-in-Trade	Current Assets	Inventories
(iv) Cash at Bank	Current Assets	Cash and Cash Equivalents
(v) Bills Receivable	Current Assets	Trade Receivable
(vi) Goodwill	Non-Current Assets	Fixed Assets: Intangible
(vii) Loose Tools	Current Assets	Inventories
(viii)Truck	Non-Current Assets	Fixed Assets: Tangible
(ix) Provision for Tax	Current Liabilities	Short-term Provisions
(x) Sundry Creditors	Current Liabilities	Trade Payable

 

 

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Also, Check out the solved question of previous Chapters: -

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

• Chapter No. 1 - Financial Statement of Not-For-Profit Organisations
• Chapter No. 2 - Accounting for Partnership Firms - Fundamentals
• Chapter No. 3 - Goodwill: Nature and Valuation
• Chapter No. 4 - Change in Profit-Sharing Ratio Among the Existing Partners
• Chapter No. 5 - Admission of a Partner
• Chapter No. 6 - Retirement/Death of a Partner
• Chapter No. 7 - Dissolution of a Partnership Firm

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

• Chapter No. 8 - Company Accounts -  Accounting for Share Capital
• Chapter No. 9 - Company Accounts - Issue of Debentures
• Chapter No. 10 - Redemption of Debentures

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

• Chapter No. 1 - Financial Statements of a Company
• Chapter No. 2 - Financial Statement Analysis 
• Chapter No. 3 - Tools of Financial Statement Analysis - Comparative Statements and Common- Size Statements
• Chapter No. 4 - Accounting Ratios
• Chapter No. 5 - Cash Flow Statement

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication