Question 10 Chapter 1 - V.K. Publication Class 12 Part 2

Question 10 Chapter 1 – V.K. Publication Class 12 Part 2 – 2021

Table of Contents

The solution of Question 10 Chapter 1 – V.K. Publication Class 12 Part 2: –

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

10. State under which major headings and sub-headings the following items will be in the Balance Sheet of a company as per Schedule III of the Companies , Act 2013

Calls-in-Arrears
Calls-in-Advance
Gain on reissue of forfeited equity shares
Trade payables to be settled beyond 12 months from the date of Balance Sheet.

The solution of Question 10 Chapter 1 – V.K. Publication Class 12 Part 2: –

S.No.	Items	Major	Sub Heads
(i)	Calls-in-Arrears	Shareholders’ Funds	Share Capital (Shown by way of deduction)
(ii)	Calls-in-Advance	Current Liabilities	Other Current Liabilities
(iii)	Gain on reissue of forfeited equity shares	Shareholders’ Funds	Reserves and Surplus shares
(iv)	Trade payables to be settled beyond 12 months from the date of Balance Sheet.	Non-current Liabilities	Other Non-current Liabilities