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: –

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

• Chapter No. 1 – Accounting Not for Profit Organisations
• Chapter No. 2 – Partnership Accounts – I (Introduction)
• Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
• Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
• Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
• Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
• Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
• Chapter No. 8 – Company Accounts (Share Capital)
• Chapter No. 9 – Company Accounts (Issue of Debentures)
• Chapter No. 10 – Company Accounts (Redemption of Debentures)

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

• Chapter No. 1 – Financial Statements of a Company
• Chapter No. 2 – Financial Statement Analysis
• Chapter No. 3 –  Tools of Financial Statement Analysis- Comparative and Common Size  
• Chapter No. 4 – Ratio Analysis
• Chapter No. 5 – Cash Flow Statement

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