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

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

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

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Balance Sheet: Meaning, Format & Examples

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Also, Check out the solved question of previous Chapters: –

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

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