Question 25 Chapter 1 of +2-B
Table of Contents
25. Prepare Balance Sheet of Recovery Ltd. As per Schedule III of the Companies
Act, 2013:
| Rs. | |
| 10% Debenture of Rs 100 each | 1,90,000 |
| Stock-in-Trade (inventories) | 40,000 |
| Goodwill | 20,000 |
| Provision for Tax | 6,000 |
| Totaling of Balance Sheet is not required. |
The solution of Question 25 Chapter 1 of +2-B: –
|
Items |
Note no. |
Figures as at the end of the Current Reporting Period (3) |
Figures as at the end of the Previous Reporting Period (4) |
| I. Equity and Liabilities | |||
| 1. Shareholders’ Funds | |||
| 2. Share Application Money Pending Allotment | |||
| 3. Non-Current Liabilities | |||
| (a) Long-term borrowings | 1 | 1,90,000 | |
| 4. Current Liabilities | |||
| Other current Liabilities | 2 | 6,000 | |
| Total | |||
| 1.Non-Current Assets | |||
| (a) Fixed Assets: | |||
| Intangible Assets | 20,000 | ||
| 2. Current Assets | |||
| Inventories | 40,000 | ||
| Total |
Note 1
|
Particulars |
Amount |
|
| 3. Non-Current Liabilities | ||
| (a) Long-term borrowings | ||
| 10% Debentures of Rs 100 each | 1,90,000 | |
| (b)Short-term Provision | ||
| Provision for Tax | 6,000 | 1,96,000 |
| Note 2 | ||
| 1. Non-Current Liabilities | ||
| Fixed Assets-Intangible Assets | ||
| Goodwill | 20,000 | |
| 2. Current Assets | ||
| Inventories | ||
| Stock-in-Trade | 40,000 | 60,000 |
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: –
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
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