Question 16 Chapter 1 of +2-B – T.S. Grewal 12 Class

Question 16 Chapter 1 of +2-B

Question 16 Chapter 1 of +2-B

16. Under which of the heads will the following items be shown while
preparing Balance Sheet of a company, as per Schedule III of the
Companies Act; 2013:

(i) Unamortised Loss on Issue of Debentures (to be written of after 12 months from the date of Balance Sheet);    
(ii)10% Debentures; (iii) Stock-in-Trade; (iv) Cash at Bank;
(v) Bills Receivable; (vi) Goodwill; (vii) Loose Tools
(viii)Truck; (ix) Provision for Tax;  (x) Sundry Creditors?

 

The solution of Question 16 Chapter 1 of +2-B: – 

Items

Heads
Sub. Heads
(i)Unamortised Loss on Issue of
Debentures (to be written of
after 12 months from the date
of Balance Sheet)
Non-Current Assets Other Non-Current Assets
(ii)10% Debentures Non-Current Liabilities Long-term Borrowing
(iii) Stock-in-Trade Current Assets Inventories
(iv) Cash at Bank Current Assets Cash and Cash Equivalents
(v) Bills Receivable Current Assets Trade Receivable
(vi) Goodwill Non-Current Assets Fixed Assets: Intangible
(vii) Loose Tools Current Assets Inventories
(viii)Truck Non-Current Assets Fixed Assets: Tangible
(ix) Provision for Tax Current Liabilities Short-term Provisions
(x) Sundry Creditors Current Liabilities Trade Payable
     

 

 

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)

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

2 Book 3 min 225x300 - Question 16 Chapter 1 of +2-B  - T.S. Grewal 12 Class
T.S. Grewal’s Analysis of Financial Statements

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