Question 25 Chapter 1 VK Publications Class 12 Part 2 – 2021
Table of Contents
25 The following figures were extracted from the Trial Balance of Sri Ram Ltd:
- Share capital of 50,000 equity shares of Rs. 10 each
- Transferred to Debenture Redemption Reserve Rs. 50,000
- General Reservve Rs. 12,000
- Debentures Rs. 1,00,000
- Interest accrued and due on secured loans Rs. 15,000
- Securities Premium Reserve Rs. 10,000
- Fixed Deposits of Public Rs. 40,000
- Bills Payable Rs. 15,000
- Sundry Creditors Rs. 55,000
- Unclaimed Dividends Rs. 14,000
You are required to draw up the equity and liabilities part of the Balance Sheet according to the requirements of the Companies Act, 2013
The solution of Question 24 Chapter 1 VK Publications Class 12 Part 1: –
BALANCE SHEET OF SRI RAM LTD.
| Particulars | Note No. | Current Year (Rs.) | Previous Year (Rs.) |
| EQUITY AND LIABILITIES | |||
| 1.Shareholders’ Funds | |||
| (a) Share Capital | 1. | 5,00,000 | |
| (b) Reserves and Surplus | 2. | 72,000 | |
| 2. Non-current Liabilities | |||
| (a) Long-term Borrowings | 3. | 1,40,000 | |
| 3. Current Liabilities | |||
| (a) Trade Payables | 4. | 70,000 | |
| (b) Other Current Liabilities | 5. | 29,000 | |
| Total | 8,11,000 |
Notes to Accounts:
| Particulars | Rs. | |
| 1. Share Capital | ||
| 50,000 equity shares of Rs. 10 each 5,00,000 | 5,00,000 | |
| 2. Reserves and Surplus | ||
| General Reserve | 12,000 | |
| Transferred to Debenture Redemption Reserve | 50,000 | |
| 62,000 | ||
| Securities Premium Reserve | 10,000 | 72,000 |
| 3. Long-term Borrowings | ||
| Debentures | 1,00,000 | |
| Fixed Deposits of Public | 40,000 | 1,40,000 |
| 4. Trade Payables | ||
| Bills payable | 15,000 | |
| Sundry Creditors | 55,000 | 70,000 |
| 5. Other Current Liabilities | ||
| Interest accrued and due on Long-term Borrowings | 15,000 | |
| Unclaimed Dividends | 14,000 | 29,000 |
Financial Statements of a Company and Its formats
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