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Question 26 Chapter 1 of +2-B
26. (Balance Sheet with Notes to Accounts/GST) The following balances were extracted from the books of Deepak Limited on 31st March 2018.
| Particular | Rs |
| Share Capital | 5,00,000 |
| Securities Premium Reserve | 50,000 |
| 10% Debentures | 2,50,000 |
| Trade Payables | 1,00,000 |
| Unclaimed Dividend | 15,000 |
| Surplus in Statement of Profit and Loss (Dr.) | 25,000 |
| Live Stock | 4,50,000 |
| Government Bonds | 2,00,000 |
| Work in Progress | 2,50,000 |
| Output IGST | 10,000 |
Balance Sheet
| Particulars |
Note no. | Amount |
|---|---|---|
| II Equity & Liabilities | ||
| 1. Shareholders’ Fund | ||
| Share Capital | 5,00,000 | |
| Reserve & Surplus | 2 | 25,000 |
| 2. Non-Current Liabilities | ||
| Long term Borrowing | 25,000 | |
| 3. Current Liabilities | ||
| Trade Payable | 3 | 1,00,000 |
| Other Current Liabilities | 25,000 | |
| Total | 9,00,000 | |
| II Assets | ||
| 1. Non-current Assets | ||
| Fixed Assets | ||
| Tangible Assets | 4 | 1,00,000 |
| Non-Current Investments | 5 | 4,50,000 |
| 2. Current Assets | ||
| Inventories | 6 | 2,50,000 |
| Total | 9,00,000 |
Working Note
| Particulars |
Note no. | Amount | |
|---|---|---|---|
| 1. Reserve and Surplus | |||
| Securities Premium Reserve | 50,000 | ||
| Surplus in Statement of P&L (Dr.) | (25,000) | ||
| 25,000 | |||
| 2. Long term Borrowings | |||
| 10% Debentures | 30,000 | ||
| 3. Other Current Liabilities | |||
| Unclaimed Dividend | 15,000 | ||
| Output IGST | 10,000 | ||
| 25,000 | |||
| 4. Tangible Fixed Assets | |||
| Live Stock | 4,50,000 | ||
| 5. Non-Current Investments | |||
| Government Bonds | 2,00,000 | ||
| 6. Inventories | |||
| Work in Progress | 2,50,000 | ||
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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.
This guide covers "Question 26 Chapter 1 of +2-B - USHA Publication 12 Class", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to USHA Publication Part 2 volume I.
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