Question 09 Chapter 1 of +2-B – USHA Publication 12 Class

Question 09 Chapter 1 of +2-B

Question 09 Chapter 1 of +2-B

Arrangement of Balance sheet Items

9. (Example of various heads of Balance Sheet) Give three examples for each of the following :

 (i) Current Assets (ii) Reserve and Surplus
(iii) Contingent Liabilities  

 

The solution of Question 09 Chapter 1 of +2-B: – 

 

Balance Sheet of Punjab Steel Limited

Current AssetS

Reserve & Surplus
Contingent Liabilities
a. Cash a. Capital Reserve a. Bills Discounted but not matured(to be shown as footnotes)
b. Loose tools b. Securities Premium Reserve b. Arrears of fixed Cumulative Preference Dividend
c. Trade Receivables (Debtors) c. General Reserve c. Claim against Company not acknowledged as debts.

Note: Contingent Liabilities – It refers to that amount of Liability which may or may not become payable in the future.


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

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

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

2 Book 3 min 225x300 - Question 09 Chapter 1 of +2-B  - USHA Publication  12 Class
T.S. Grewal’s Analysis of Financial Statements

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