Question 27 Chapter 1 of +2-B - USHA Publication 12 Class

Question 27 Chapter 1 of +2-B

27. (Balance Sheet with Notes to Accounts/GST) The following balances appeared in the books of Roop Publications Limited on 31st March 2018.

Particular	Rs
Goodwill	20,000
Plant & Machinery	1,60,000
Building	1,50,000
Cash in hand	10,000
Computer Soft wares	70,000
10,000 Shares of each Rs 8 paid up	80,000
8% Debentures	2,50,000
Trade Payables	40,000
Output IGST	10,000
Output CGST	15,000
Output SGST	15,000

Prepare the Balance Sheet of the company as per schedule III of the Companies Act, 2013.

The solution of Question 27 Chapter 1 of +2-B: - 

Balance Sheet

Particulars	Note no.	Amount
II Equity & Liabilities
1. Shareholders’ Fund
Share Capital	1	80,000
2. Non-Current Liabilities
Long term Borrowing	2	2,50,000
3. Current Liabilities
Trade Payable		40,000
Other Current Liabilities	3	40,000
Total		4,10,000
II Assets
1. Non-current Assets
Fixed Assets
Tangible Assets	4	3,10,000
Non-Current Investments	5	90,000
2. Current Assets
Cash & Cash Equivalents	6	10,000
Total		4,10,000

Working Note

Particulars		Note no.	Amount
1. Reserve and Surplus
10,000 Shares of each Rs 8 paid up			80,000
2. Long term Borrowings
8% Debentures			2,50,000
3. Other Current Liabilities
Output IGST	10,000
Output CGST	15,000
Output SGST	15,000
			40,000
4. Tangible Fixed Assets
Plant & Machinery	1,60,000
Building	1,50,000
			3,10,000
5. Intangible Fixed Assets
Goodwill	20,000
Computer Software	70,000
			90,000
6. Inventories
Cash in hand			1,000

 

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