Question 20 Chapter 1 VK Publications Class 12 Part 2 – 2021
Table of Contents
20. Under which of the major heads will the folloWing items be shown, while i AsstBalance Sheet of a company, as per provisions of Companies Act 2013, as contained in Schedule III :
- Prepaid Expenses Rs. 1,40,000;
- Discount on Issue of Debentures Rs. 10,000 to be written off after 2 years;
- 10% Debentures Rs. 1,90,000;
- Stock-in-Trade Rs. 40,000
- Receivable Rs. 12,000;
- Goodwill Rs. 20,000;
- Loose Tools Rs. 12,000;
- Provisions Taxation Rs. 6,000
The solution of Question 20 Chapter 1 VK Publications Class 12 Part 2: –
| Particulars | Heading |
| (i) Prepaid Expenses Rs. 1,40,000 | Current Assets |
| (ii) Discount on Issues of Debenture Rs. 10,000 | Shareholders fund under Reserve and Surplus (negative balance) |
| (iii) 10% Debentures Rs. 1,90,000 | Non-Current Liabilities |
| (iv) Stock-in-trade Rs. 40,000 | Current Assets |
| (v) Bills Receivable Rs. 12,000 | Current Assets |
| (vi)Goodwill Rs. 20,000 | Non-Current Assets |
| (vii) Loose Tools Rs. 12,000 | Current Assets |
| (viii) Provision for Taxation Rs. 6,000 | Current Liabilities |
Financial Statements of a Company and Its formats
T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)
- Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
- Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
- Chapter No. 3 – Goodwill: Nature and Valuation
- Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
- Chapter No. 5 – Admission of a Partner
- Chapter No. 6 – Retirement/Death of a Partner
- Chapter No. 7 – Dissolution of a Partnership Firm
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
- Chapter No. 4 – Accounting Ratios
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication