Question 26 Chapter 1 of +2-B – T.S. Grewal 12 Class

Question 26 Chapter 1 of +2-B

Question 26 Chapter 1 of +2-B

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.
(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      
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)

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 26 Chapter 1 of +2-B  - T.S. Grewal 12 Class
T.S. Grewal’s Analysis of Financial Statements

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