Question 17 Chapter 1 of +2-B – USHA Publication 12 Class

Question 17 Chapter 1 of +2-B

Question 17 Chapter 1 of +2-B

Arrangement of Balance sheet Items

17. (Treatment of Fixed Assets & Depreciation in Balance Sheet) How would you show the following items in the Balance sheet of ABC Limited as at 31st March, 2018.

(i) Total Depreciation to date as on 1st April 2017 Rs 5,00,000.
(ii) Written down value of fixed assets as on 1st April 2017 Rs 10,00,000
(ii) Depreciation to be written off at 25% p.a. on written down value.

 

The solution of Question 17 Chapter 1 of +2-B: – 

 

Balance Sheet of ABC Limited as on 31st March 2018

Particulars
Note no. Amount
II Asses    
1. Non-current Assets    
Fixed Assets    
Tangible Assets 1 7,50,000
Total   7,50,000

 

 

Particulars
Note no. Amount
1. Tangible Assets    
Cost Tangible Assets (Rs 10,00,000 + Rs 5,00,000)
(Value of Fixed Assets + Depreciation charged in the previous year)
  15,00,000
Less: Depreciation During the Year Rs10,00,000×25/100   2,50,000
Depreciation charges in the previous year   5,00,000
    7,50,000

 

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

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T.S. Grewal’s Analysis of Financial Statements

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