Question 07 Chapter 1 of +2-B – USHA Publication 12 Class

Question 07 Chapter 1 of +2-B

Question 07 Chapter 1 of +2-B

Arrangement of Balance sheet Items

7. (Treatment of Reserve and Surplus/Bonus Shares Issued)

  Rs
General Reserve  3,00,000
Capital Reserve 2,40,000
Securities Premium Reserve 12,60,000
Surplus in Statement of profit and loss (Opening) (21,60,000)

During the current year company earned Rs 14,40,000. Bonus Share worth Rs 9,00,000 were issued out of Securities Premium Reserve.
Prepare Balance Sheet.

 

The solution of Question 07 Chapter 1 of +2-B: – 

 

Balance Sheet of Punjab Steel Limited

Particulars
Note no. Amount
I. Equity and Liabilities    
1. Shareholders’ Funds    
Reserve & Surplus 1 (1,80,000)
Total   (1,80,000)



Balance Sheet of Punjab Steel Limited

Particulars

Note no. Amount
1. Reserve & Surplus      
General Reserve     3,00,000
Capital Reserve     2,40,000
Securities Premium Reserve 12,60,000    
less: Bonus Shares Issued* (9,00,000)   3,60,000
Surplus      
Opening Balance (21,60,000)    
Add: Surplus (Loss) for the period 14,40,000   (7,20,000)
      1,80,000


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

Balance Sheet: Meaning, Format & Examples

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Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Chapter No. 1 – Accounting Not for Profit Organisations

Chapter No. 2 – Partnership Accounts – I

Chapter No. 3 – Partnership Accounts – II (Introduction)

Chapter No. 4 – Partnership Accounts – III (Goodwill: Nature and Valuation)

Chapter No. 5 – Partnership Accounts – IV (Reconstitution of Partnership)

Chapter No. 6 – Partnership Accounts – V (Admission of A Partner)

Chapter No. 7 – Partnership Accounts – VI (Retirement and Death of A Partner)

Chapter No. 8 – Company Accounts (Share Capital)

Chapter No. 9 – Company Accounts (Issue of Debentures)

Chapter No. 10 – Company Accounts (Redemption of Debentures)

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Chapter No. 1 – Financial Statements of a Company (Balance Sheet Only)

Chapter No. 2 – Techniques of Financial Statement Analysis

Chapter No. 3 – Ratio Analysis 

Chapter No. 4 – Cash Flow Statement

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

2 Book 3 min 225x300 - Question 07 Chapter 1 of +2-B  - USHA Publication  12 Class
T.S. Grewal’s Analysis of Financial Statements

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