Question 22 Chapter 1 of +2-B – USHA Publication 12 Class

Question 22 Chapter 1 of +2-B

Question 22 Chapter 1 of +2-B

Arrangement of Balance sheet Items

22. (Balance Sheet with Notes to Accounts ) The following items appeared in the trial balances of XYZ Limited. Prepare a balance sheet from the items according to the provision of Schedule III of Companies Act, 2013.

ParticularDr RsCr. Rs
Share Capital   
5,000 equity shares of Rs 10 each fully paid up50,000
Live Stock40,000
Mortgage10,000
Trade Receivables20,000
 60,00060,000

 

The solution of Question 22 Chapter 1 of +2-B: – 

 

Balance Sheet as on 31st March 2018

Particulars
Note no.Amount
II Equity & Liabilities  
1. Shareholders’ Fund  
Share Capital150,000
2. Non-Current Liabilities  
Long term Borrowing210,000
Total 60,000
II Assets  
1. Non-current Assets  
Fixed Assets  
Tangible Assets340,000
2. Current Assets  
Inventories420,000
Total 60,000



Working Note

Particulars
Note no.Amount
1. Share Capital  
5,000 equity shares of Rs 10 each fully paid up 50,000
2.Long term Borrowings  
Mortgage 10,000
3. Tangible Assets  
Live Stock 40,000

 

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

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T.S. Grewal’s Analysis of Financial Statements

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