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Question 19 Chapter 4 -Unimax Publication Class 12 Part 2 – 2021

Question no- 19 Chapter no -4 Unimax Class- 12 Part -II
Question no- 19 Chapter no -4 Unimax Class- 12 Part -II

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Question 19 Chapter 4 – Unimax Publication Class 12 Part 2 – 2021

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From the following information, prepare the balance sheet of a company in the prescribed perform as per Schedule 3 part 1 as at 31st March, 2022.

Particulars₹ 
Land and Building6,00,000
Plant and Machinery3,00,000
Furniture3,91,000
Investment in Govt. Securities3,00,000
Investment in shares of the company1,50,000
Stock in trade40,000
Debtors80,000
Preliminary expenses13,000
Underwriting commission15,000
Brokerage on issue of shares8,000
Cash in hand15,000
Cash at bank20,000
Debenture 8%4,68,000
Deposit from the public3,00,000
Creditors50,000
Unpaid divided2,000
Arrears of preference shares divided18,000
Capital reserve20,000
General reserve50,000
Profit and loss account50,000
Securities84,000

Additional information:

(1) Company has authorized shares capital of 10,000 equity shares of ₹ 10 each and 1,000, 12% preference shares of ₹ 100 each. All shares were issued. Out of these 4,500 equity share were subscribed and paid up except ₹ 10,000 as call in arrears. Share forfeited account shows a balance of ₹ 6,000. All the 1,000perference shares were fully paid up, ₹ 100 per share.
(2) Depreciation land and building by 5%.
(3) Addition made to plant and machinery ₹ 1,00,000.
(4) Depreciation on plant and machinery ₹ 30,000.
(5) Provision for bad debts @ 2.5%.

The solution of Question 19 Chapter 4 – Unimax Publication Class 12 Part 2 – 2021: –

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Balance sheet As At 31st March 2022

Particulars Note Amount ₹
Equity and Liabilities    
Shareholder’s fund   
Share capital   
Equity share capital 19,96,000
Preference share capital 21,00,000
Reserve and Surplus 31,20,000
Non-Current Liabilities   
Long term liabilities 47,68,000
Short term liabilities   
Trade payable 550,000
Other current liabilities 620,000
   20,54,000
Assets    
Non-Current Assets   
Fixed Assets   
Tangible assets 713,31,000
Non-current investment 85,34,000
Current Assets   
Inventories 940,000
Trade receivable 1078,000
Cash and cash equivalent 1135,000
Other current assets 1236,000
   20,54,000

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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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