Question 10 Chapter 1 of +2-B – USHA Publication 12 Class

Question 10 Chapter 1 of +2-B

Question 10 Chapter 1 of +2-B

Arrangement of Balance sheet Items

10. (Identification of heads of Assets & Liabilities/GST) Give the heading under which the following items will be shown in a company’s balance sheet as per schedule III of Companies Act, 2013.
(i) Securities Premium Reserve, (ii) General Reserve, (iii) 10% Debentures, (iv) Stores and Spare parts, (v) Patents, (vi) Input IGST, (vii) Input CGST, (viii) Input SGST.

 

The solution of Question 10 Chapter 1 of +2-B: – 

 

Balance Sheet of Punjab Steel Limited

Items

Heading
(i) Securities Premium Reserve Reserve & Surplus
(ii) General Reserve Reserve & Surplus
(iii) 10% Debentures Non – Current Liabilities
(iv) Stores and Spare parts Current Assets – Inventories
(v) Patents Non – Current Assets – Intangible Assets
(vi) Input IGST Current Assets – Other Current Assets
(vii) Input CGST Current Assets – Other Current Assets
(viii) Input SGST Current Assets – Other Current Assets

Note: Input IGST, CGST & SGST is charged on the Supply of Goods & Services or sale of goods & services.


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

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2 Book 3 min 225x300 - Question 10 Chapter 1 of +2-B  - USHA Publication  12 Class
T.S. Grewal’s Analysis of Financial Statements

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