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.

Particular Dr Rs Cr. Rs
Share Capital     
5,000 equity shares of Rs 10 each fully paid up 50,000
Live Stock 40,000
Mortgage 10,000
Trade Receivables 20,000
  60,000 60,000

 

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 Capital 1 50,000
2. Non-Current Liabilities    
Long term Borrowing 2 10,000
Total   60,000
II Assets    
1. Non-current Assets    
Fixed Assets    
Tangible Assets 3 40,000
2. Current Assets    
Inventories 4 20,000
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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2 Book 3 min 225x300 - Question 22 Chapter 1 of +2-B  - USHA Publication  12 Class
T.S. Grewal’s Analysis of Financial Statements

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