Question 26 Chapter 1 of +2-B - T.S. Grewal 12 Class

Question 26 Chapter 1 of +2-B

26. Prepare Balance Sheet of VT Ltd. As at 31st March 2019, from the following information as per Schedule III, Part I of the Companies Act, 2013

	Rs.
General Reserve	3,000
8% Debenture	3,000
Surplus i.e., Balance Sheer in the statement of Profit and Loss (Credit)	1,200
Depreciation of Fixed assets	700
Fixed assets: Tangible assets (Cost)	9,000
Other current Liabilities	2,500
Share Capital	5,000
Other current assets	6,400

The solution of Question 26 Chapter 1 of +2-B: - 

Items	Note no. (2)	Figures as at the end of the Current Reporting Period (3)	Figures as at the end of the Previous Reporting Period (4)
I. Equity and Liabilities
1. Shareholders’ Funds
Share Capital		5,000
Reserves and surplus		4,200
2. Share Application Money Pending Allotment
3. Non-Current Liabilities
(a) Long-term borrowings	1	3,000
4. Current Liabilities
Other current Liabilities	2	2,500
Total		14,700
1.Non-Current Assets
(a) Fixed Assets:
(i) Tangible Assets		8,300
2. Current Assets
Other current Assets		6,400
Total		14,700

Note 1

Particulars		Amount
Reserves and surplus
General Reserve	3,000
Surplus i.e., Balance Sheer in the statement of Profit and Loss (Credit)	1,200	4,200
Note 2
3. Non-Current Liabilities
(a) Long-term borrowings
8% Debenture	3,000	3,000
Note 3
1. Non-Current Liabilities
Fixed Assets-Tangible Assets	9,000
Less: Depreciation	700	8,300

 

To understand more about Balance Sheet please check out following links:

https://tutorstips.com/balance-sheet/

Thanks, Please Like and share with your friends  

Comment if you have any question.

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