Question 2 Chapter 1 - V.K. Publication Class 12 Part 2

Question 2 Chapter 1 – V.K. Publication Class 12 Part 2 – 2021

Table of Contents

The solution of Question 2 Chapter 1 – V.K. Publication Class 12 Part 2: –

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

2. Mittal Limited incurred a loss of Rs. 50,000 during the year 2017-18. It has an opening balance of Rs. 15,000 in the Reserves and Surplus as the Balance of Statement of Profit anLoss. Determine the amount that will be carried to the Balance Sheet as the Balance of Statement of Profit and Loss. Also, state where and how will this Balance of Statement Profit and Loss be disclosed.

The solution of Question 2 Chapter 1 – V.K. Publication Class 12 Part 2: –

NOTES TO ACCOUNT

Particulars		Rs .
Reserves and Surplus
Surplus, i.e, Balance in Statement of Profit and Loss
Opening Balance	15,000
Balance Profit (Loss) for the period	50,000

Balance		35,000