Question 3 Chapter 1 - V.K. Publication Class 12 Part 2 - 2021

Question 3 Chapter 1 - V.K. Publication Class 12 Part 2 - 2021

3. Jyoti Wires Ltd. Exhibits an opening credit balance for both Securities Premium Reserve Rs. 2,00,000 and Surplus, i.e., Balance in Statement of Profit and Loss at Rs. 1,00,000. However there was a loss incurred during the year amounting to Rs. 30,000. Provide the treatment for the above in the Notes to Account on Reserves and Surplus.

The solution of Question 3 Chapter 1 - V.K. Publication Class 12 Part 2: -

NOTES TO ACCOUNT

Particulars		Amount (Rs.)
Reserves and Surplus
(i) Securities Premium Reserve ( Opening balance )		2,00,000
(ii) Surplus, i.e, Balance in Statement of Profit and Loss
Opening Balance	1,00,000
Profit (Loss) for the period	30,000	70,000
Balance		2,70,000

 

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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