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

Question 12 Chapter 1 of +2-B
Q-12- CH-1 Book 2 - Usha Pub. +2 Book 2020 - Solution

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Question 12 Chapter 1 of +2-B

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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% Debenturesii.Bills discounted from bank
iii.Trade Payableiv.Calls in arrears
v.Debenture Redemption Reservevi.General Reserve
vii.Work in Progressviii.Investment
ix.Output CGSTx.Output SGST

 

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

 

Items

Heading
(i) 10% DebenturesNon – Current Liabilities
(ii)Bills discounted from bankContingent Liabilities
(iii) Trade PayableCurrent Liabilities
(iv) Calls in arrearsShare Capital (Deducted from Called up Capital)
(v) Debenture Redemption ReserveReserve & Surplus
(vi) General ReserveReserve & Surplus
(vii) Work in ProgressCurrent Assets
(viii) InvestmentNon – Current Assets
(ix) Output CGSTCurrent Liabilities – Other current Liabilities
(x) Output SGSTCurrent Liabilities – Other current Liabilities

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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

Question 1 Chapter 1 of +2-B
T.S. Grewal’s Analysis of Financial Statements

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