Question 24 Chapter 1 of +2-B

Question 24 Chapter 1 of +2-B

Arrangement of Balance sheet Items

24. (Balance Sheet with Notes to Accounts/GST) The following balances were extracted from the books of Rahul Limited on 31st March 2018.

ParticularRs
Plant and Machinery1,00,000
Shares in Radhika Limited50,000
Inventories20,000
Trade receivable10,000
Share Capital1,00,000
Capital Redemption Reserve60,000
10% Debentures30,000
Short term loan from Monika Limited5,000
Provision for Taxation5,000
Input IGST4,000
Input CGST8,000
Input SGST8,000

Prepare the Balance Sheet of the company as per schedule III of the Companies Act, 2013.

The solution of Question 24 Chapter 1 of +2-B: – 

 

Balance Sheet as on 31st March 2018

Particulars
Note no.Amount
II Equity & Liabilities  
1. Shareholders’ Fund  
Share Capital11,00,000
Reserve & Surplus260,000
2. Non-Current Liabilities  
Long term Borrowing 30,000
3. Current Liabilities  
Short term Borrowings35,000
Short term Provisions45,000
Total 2,00,000
II Assets  
1. Non-current Assets  
Fixed Assets  
Tangible Assets51,00,000
Non-Current Investments650,000
2. Current Assets  
Inventories 40,000
Trade Receivable 10,000
Other Current Assets 20,000
Total 2,00,000



Working Note

Particulars
Note no.Amount
1. Reserve and Surplus   
Capital Redemption Reserve  60,000
2. Long term Borrowings   
10% Debentures  30,000
3. Short term Borrowings   
Short term loan from Monika Limited  5,000
4. Short term Provisions   
Provision for Taxation  5,000
5. Tangible Assets   
Plant & Machinery  1,00,000
6. Non-Current Investments   
Shares in Radhika Limited  50,000
7. Other current Assets   
Input IGST4,000  
Input CGST8,000  
Input SGST8,000 20,000

 

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

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

2 Book 3 min 225x300 - Question 24 Chapter 1 of +2-B  - USHA Publication  12 Class
T.S. Grewal’s Analysis of Financial Statements

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