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

Question 12 Chapter 1 of +2-B

Arrangement of Balance sheet Items

12. (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.10% Debentures	ii.Bills discounted from bank
iii.Trade Payable	iv.Calls in arrears
v.Debenture Redemption Reserve	vi.General Reserve
vii.Work in Progress	viii.Investment
ix.Output CGST	x.Output SGST

 

The solution of Question 12 Chapter 1 of +2-B: – 

 

Items	Heading
(i) 10% Debentures	Non – Current Liabilities
(ii)Bills discounted from bank	Contingent Liabilities
(iii) Trade Payable	Current Liabilities
(iv) Calls in arrears	Share Capital (Deducted from Called up Capital)
(v) Debenture Redemption Reserve	Reserve & Surplus
(vi) General Reserve	Reserve & Surplus
(vii) Work in Progress	Current Assets
(viii) Investment	Non – Current Assets
(ix) Output CGST	Current Liabilities – Other current Liabilities
(x) Output SGST	Current Liabilities – Other current Liabilities

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)

• Chapter No. 8 – Company Accounts –  Accounting for Share Capital
• Chapter No. 9 – Company Accounts – Issue of Debentures
• Chapter No. 10 – Redemption of Debentures

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