Question 17 Chapter 4 -Unimax Publication Class 12 Part 2

Question 17 Chapter 4 – Unimax Publication Class 12 Part 2 – 2021

Table of Contents

The solution of Question 17 Chapter 4 – Unimax Publication Class 12 Part 2- 2021 : –

Unimax Publication – Accountancy PSEB Class 12 – Volume I – Solution

Unimax Publication – Accountancy PSEB (Class 12) – Part – II – Solution

The following balance have been extracted from the books of Pioneer Ltd. as on 31st March, 2022:

	₹
Equity share capital (fully paid shares of ₹ 100 each)	2,50,000
Investments	1,10,000
Loans and Advances	10,000
Provision for Taxation	90,000
8% Debentures	80,000
Reserve and Surplus	1,98,000
Fixed Assets (at cost)	5,40,000
Current Assets	2,90,000
Current Liabilities	1,94,000
Discount on issue of debentures	6,000
Provision for deprecation	1,20,000
Unsecured Loans	30,000
Preliminary expenses	6,000

There is a contingent liabilities in respect of a claim of ₹ 7,500 against the company not acknowledged as debt.
You are required to prepare balance sheet of Pioneer Ltd. as at 31st March, 2022

The solution of Question 17 Chapter 4 – Unimax Publication Class 12 Part 2- 2021 : –

Balance sheet of Ploneer Ltd. As At 31st March 2022

Particulars		Note	Amount ₹
Equity and Liabilities
Share capital
Reserve and Surplus			2,50,000
Non-Current Liabilities
Long term borrowing
Secured Loan	80,000
In secured Loan	30,000		1,10,000
Current Liabilities
Trade payable			1,94,000
Short term provisions
Provision for taxation			90,000
			8,42,000
Assets
Non-Current Assets
Fixed Assets	5,40,000
Provision for dep.	(1,20,000)		4,20,000
Non-current investment (discount + preliminary expenses)			1,10,000
Other Non-Current Assets (6,000+6,000)			12,000
Current Assets
Trade receivable			2,90,000
Short term loan and advance			10,000
			8,42,000