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: –

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)

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

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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