Question 20 Chapter 1 VK Publications Class 12 Part 2 - 2021

Question 20 Chapter 1 VK Publications Class 12 Part 2 - 2021

20. Under which of the major heads will the folloWing items be shown, while i AsstBalance Sheet of a company, as per provisions of Companies Act 2013, as contained in Schedule III :

1. Prepaid Expenses Rs. 1,40,000;
2. Discount on Issue of Debentures Rs. 10,000 to be written off after 2 years;
3. 10% Debentures Rs. 1,90,000;
4. Stock-in-Trade Rs. 40,000
5. Receivable Rs. 12,000;
6. Goodwill Rs. 20,000;
7. Loose Tools Rs. 12,000;
8. Provisions Taxation Rs. 6,000

The solution of Question 20 Chapter 1 VK Publications Class 12 Part 2: -

Particulars	Heading
(i) Prepaid Expenses Rs. 1,40,000	Current Assets
(ii) Discount on Issues of Debenture Rs. 10,000	Shareholders fund under Reserve and Surplus (negative balance)
(iii) 10% Debentures Rs. 1,90,000	Non-Current Liabilities
(iv) Stock-in-trade Rs. 40,000	Current Assets
(v) Bills Receivable Rs. 12,000	Current Assets
(vi)Goodwill Rs. 20,000	Non-Current Assets
(vii) Loose Tools Rs. 12,000	Current Assets
(viii) Provision for Taxation Rs. 6,000	Current Liabilities

 

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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