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

Question 25 Chapter 1 of +2-B

Question 25 Chapter 1 of +2-B

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.
(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 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)

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

2 Book 3 min 225x300 - Question 25 Chapter 1 of +2-B  - T.S. Grewal 12 Class
T.S. Grewal’s Analysis of Financial Statements

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