Advertisement

Question 25 Chapter 1 of +2-B – T.S. Grewal 12 Class

Question 25 Chapter 1 of +2-B
Question No. 25 - Chapter No.1 - T.S. Grewal +2 Book Part B-min

Advertisement

Question 25 Chapter 1 of +2-B

Advertisement

25. Prepare Balance Sheet of Recovery Ltd. As per Schedule III of the Companies
Act, 2013:

 Rs.
10% Debenture of Rs 100 each1,90,000
Stock-in-Trade (inventories)40,000
Goodwill20,000
Provision for Tax6,000
Totaling of Balance Sheet is not required. 

The solution of Question 25 Chapter 1 of +2-B: – 

Items

Note no.
(2)

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 borrowings11,90,000 
4. Current Liabilities   
Other current Liabilities26,000 
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 each1,90,000 
(b)Short-term Provision  
Provision for Tax6,0001,96,000
Note 2  
1. Non-Current Liabilities  
Fixed Assets-Intangible Assets  
Goodwill20,000 
2. Current Assets  
Inventories  
Stock-in-Trade40,00060,000

 

Advertisement-X

To understand more about Balance Sheet please check out following links:

Balance Sheet: Meaning, Format & Examples

Thanks, Please Like and share with your friends  

Comment if you have any question.

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)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

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

Question 1 Chapter 1 of +2-B
T.S. Grewal’s Analysis of Financial Statements

Advertisement

Advertisement

error: Content is protected !!