Loading Tutorstips...
✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Advertisement
Advertisement
Advertisement
Advertisement
Question 33 Chapter 1 VK Publications Class 12 Part 2 - 2021
33. The following balances have been extracted from the books of Vijay Ltd. on 31st March,2017:
Share Capital Rs. 8,00,000, General Reserve Rs. 2,00,000, 15% Debentures Rs 4,00,000, Trade payables Rs. 1,00,000, Unclaimed Dividend Rs. 70,000, Surplus, i.e., Balance in Statement of Profit and Loss (Dr.) Rs. 30,000, Building Rs. 10,00,000, Investment in Government Securities Rs. 2,00,000, Inventories Rs. 2,50,000 and Discount on Issue of 15% Debentures Rs. . 90,000 to be written off after 2 years.
Prepare the Balance Sheet of the company as per Schedule III, Part I of the Companies Act 2013.
| Particulars | Note No. | Current Year (Rs. ) | Previous Year (Rs.) |
|---|---|---|---|
| EQUITY AND LIABILITIES | |||
| 1.Shareholders' Funds | |||
| (a) Share Capital | 8,00,000 | ||
| (b) Reserves and Surplus | 1. | 80,000 | |
| 2. Non-current Liabilities | |||
| (a) Long-term Borrowings | 2. | 4,00,000 | |
| 3. Current Liabilities | |||
| (a) Trade Payables | 1,00,000 | ||
| (b) Other Current Liabilities | 3. | 70,000 | |
| Total | 14,50,000 | ||
| II. ASSETS |
|||
| 1. Non-current Assets |
|||
| a) Fixed Assets |
|||
| (i) Tangible Assets | 4. | 10,00,000 | |
| (ii) Intangible Assets | 5. | 2,00,000 | |
| 2. Current Assets | |||
| (a) Inventories | 2,50,000 | ||
| Total | 14,50,000 |
Notes to Accounts:
| Particulars | Amount (Rs.) | |
|---|---|---|
| 1. Reserves and Surplus: | ||
| General Reserve | 2,00,000 | |
| Surplus, i.e, Balance in Statement of Profit and Loss (Dr.) | 90,000 | |
| Discount on Issue of 15% Debentures | 30,000 | 80,000 |
| 2. Long-term Borrowings | ||
| 15% Debentures | 4,00,000 | |
| 3. Other Current Liabilities | ||
| Unclaimed Dividend | 70,000 | |
| 4 Fixed Assets (Tangible) | ||
| Building | 10,00,000 | |
| 5. Non- Current Investment : | ||
| Investments in government securities | 2,00,000 |
https://tutorstips.com/financial-statements-of-a-company-and-its-formats/#:~:text=Cash%20Flow%20Statment-,Definitions%20of%20Financial%20Statements%20of%20a%20Company%3A,operation%20during%20a%20certain%20period.%E2%80%9D
T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
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 33 Chapter 1 VK Publications Class 12 Part 2 - 2021", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to V K Publications part 2 class 12.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
You can take our custom-built interactive practice quiz directly on this page to test your understanding of "Question 33 Chapter 1 VK Publications Class 12 Part 2 - 2021" instantly.
