Question 26 Chapter 1 of +2-B
Table of Contents
26. Prepare Balance Sheet of VT Ltd. As at 31st March 2019, from the following information as per Schedule III, Part I of the Companies Act, 2013
| Rs. | |
| General Reserve | 3,000 |
| 8% Debenture | 3,000 |
| Surplus i.e., Balance Sheer in the statement of Profit and Loss (Credit) | 1,200 |
| Depreciation of Fixed assets | 700 |
| Fixed assets: Tangible assets (Cost) | 9,000 |
| Other current Liabilities | 2,500 |
| Share Capital | 5,000 |
| Other current assets | 6,400 |
The solution of Question 26 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 | |||
| Share Capital | 5,000 | ||
| Reserves and surplus | 4,200 | ||
| 2. Share Application Money Pending Allotment | |||
| 3. Non-Current Liabilities | |||
| (a) Long-term borrowings | 1 | 3,000 | |
| 4. Current Liabilities | |||
| Other current Liabilities | 2 | 2,500 | |
| Total | 14,700 | ||
| 1.Non-Current Assets | |||
| (a) Fixed Assets: | |||
| (i) Tangible Assets | 8,300 | ||
| 2. Current Assets | |||
| Other current Assets | 6,400 | ||
| Total | 14,700 |
Note 1
|
Particulars |
Amount |
|
| Reserves and surplus | ||
| General Reserve | 3,000 | |
| Surplus i.e., Balance Sheer in the statement of Profit and Loss (Credit) | 1,200 | 4,200 |
| Note 2 | ||
| 3. Non-Current Liabilities | ||
| (a) Long-term borrowings | ||
| 8% Debenture | 3,000 | 3,000 |
| Note 3 | ||
| 1. Non-Current Liabilities | ||
| Fixed Assets-Tangible Assets | 9,000 | |
| Less: Depreciation | 700 | 8,300 |
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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