Question 19 Chapter 1 of +2-B – USHA Publication 12 Class

Question 19 Chapter 1 of +2-B

Question 19 Chapter 1 of +2-B

Arrangement of Balance sheet Items

19. (Reserve & surplus in Balance Sheet) How would you show the following items in the Balance sheet as at 31st March 2018 as per the requirement of Schedule III of Companies Act, 2013.

General Reserve (Since March 31, 2017) Rs 8,00,000, Surplus i.e. balance in Statement of Profit & Loss (Debit Balance) for 2017-2018 Rs 12,00,000?

 

The solution of Question 19 Chapter 1 of +2-B: – 

 

Balance Sheet of ABC Limited as on 31st March 2018

Particulars
Note no. Amount
II Equity & Liabilities    
1. Shareholders’ Fund    
Reserve & Surplus 1 (4,00,000)
Total   (4,00,000)



Particulars
Note no. Amount
1. Reserve & Surplus    
General Reserve

  8,00,000
Less: Surplus i.e. balance in statement of profit & loss   (12,00,000)
    (4,00,000)

 

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

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

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T.S. Grewal’s Analysis of Financial Statements

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