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

Question no- 17 Chapter no -4 Unimax Class- 12 Part -II
Question no- 17 Chapter no -4 Unimax Class- 12 Part -II

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

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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
Investments1,10,000
Loans and Advances10,000
Provision for Taxation90,000
8% Debentures80,000
Reserve and Surplus1,98,000
Fixed Assets (at cost)5,40,000
Current Assets2,90,000
Current Liabilities1,94,000
Discount on issue of debentures6,000
Provision for deprecation1,20,000
Unsecured Loans30,000
Preliminary expenses6,000

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 Loan80,000  
In secured Loan30,000 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

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Financial Statements of a Company and Its formats

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

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

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