Question 19 Chapter 4 – Unimax Publication Class 12 Part 2 – 2021
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 Building | 6,00,000 |
| Plant and Machinery | 3,00,000 |
| Furniture | 3,91,000 |
| Investment in Govt. Securities | 3,00,000 |
| Investment in shares of the company | 1,50,000 |
| Stock in trade | 40,000 |
| Debtors | 80,000 |
| Preliminary expenses | 13,000 |
| Underwriting commission | 15,000 |
| Brokerage on issue of shares | 8,000 |
| Cash in hand | 15,000 |
| Cash at bank | 20,000 |
| Debenture 8% | 4,68,000 |
| Deposit from the public | 3,00,000 |
| Creditors | 50,000 |
| Unpaid divided | 2,000 |
| Arrears of preference shares divided | 18,000 |
| Capital reserve | 20,000 |
| General reserve | 50,000 |
| Profit and loss account | 50,000 |
| Securities | 84,000 |
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: –
Balance sheet As At 31st March 2022
| Particulars | Note | Amount ₹ | |
| Equity and Liabilities | |||
| Shareholder’s fund | |||
| Share capital | |||
| Equity share capital | 1 | 9,96,000 | |
| Preference share capital | 2 | 1,00,000 | |
| Reserve and Surplus | 3 | 1,20,000 | |
| Non-Current Liabilities | |||
| Long term liabilities | 4 | 7,68,000 | |
| Short term liabilities | |||
| Trade payable | 5 | 50,000 | |
| Other current liabilities | 6 | 20,000 | |
| 20,54,000 | |||
| Assets | |||
| Non-Current Assets | |||
| Fixed Assets | |||
| Tangible assets | 7 | 13,31,000 | |
| Non-current investment | 8 | 5,34,000 | |
| Current Assets | |||
| Inventories | 9 | 40,000 | |
| Trade receivable | 10 | 78,000 | |
| Cash and cash equivalent | 11 | 35,000 | |
| Other current assets | 12 | 36,000 | |
| 20,54,000 |
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Financial Statements of a Company and Its formats
Unimax Publication – Accountancy PSEB Class 12 – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Change in Profit sharing ratio among Existing Partners )
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
Unimax Publication – Accountancy PSEB (Class 12) – Part – II – Solution
- Chapter No. 1 – Company Accounts (Share Capital)
- Chapter No. 2 – Company Accounts (Issue of Debentures)
- Chapter No. 3 – Company Accounts (Redemption of Debentures)
- Chapter No. 4 – Financial Statements of a Company
- Chapter No. 5 – Financial Statement Analysis
- Chapter No. 6 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 7 – Ratio Analysis
- Chapter No. 8 – Cash Flow Statement
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