Question 26 Chapter 1 of +2-B – USHA Publication 12 Class

Question 26 Chapter 1 of +2-B

Question 26 Chapter 1 of +2-B

Arrangement of Balance sheet Items

26. (Balance Sheet with Notes to Accounts/GST) The following balances were extracted from the books of Deepak Limited on 31st March 2018.

Particular Rs
Share Capital 5,00,000
Securities Premium Reserve 50,000
10% Debentures 2,50,000
Trade Payables 1,00,000
Unclaimed Dividend 15,000
Surplus in Statement of Profit and Loss (Dr.) 25,000
Live Stock 4,50,000
Government Bonds  2,00,000
Work in Progress 2,50,000
Output IGST 10,000

 

The solution of Question 26 Chapter 1 of +2-B: – 

 

Balance Sheet
Particulars
Note no. Amount
II Equity & Liabilities    
1. Shareholders’ Fund    
Share Capital   5,00,000
Reserve & Surplus 2 25,000
2. Non-Current Liabilities    
Long term Borrowing   25,000
3. Current Liabilities    
Trade Payable 3 1,00,000
Other Current Liabilities   25,000
Total   9,00,000
II Assets    
1. Non-current Assets    
Fixed Assets    
Tangible Assets 4 1,00,000
Non-Current Investments 5 4,50,000
2. Current Assets    
Inventories 6 2,50,000
Total   9,00,000



Working Note

Particulars
Note no. Amount
1. Reserve and Surplus      
Securities Premium Reserve     50,000
Surplus in Statement of P&L (Dr.)     (25,000)
      25,000
2. Long term Borrowings      
10% Debentures     30,000
3. Other Current Liabilities      
Unclaimed Dividend     15,000
Output IGST     10,000
      25,000
4. Tangible Fixed Assets      
Live Stock     4,50,000
5. Non-Current Investments      
Government Bonds     2,00,000
6. Inventories      
Work in Progress     2,50,000

 

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: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Chapter No. 1 – Accounting Not for Profit Organisations

Chapter No. 2 – Partnership Accounts – I

Chapter No. 3 – Partnership Accounts – II (Introduction)

Chapter No. 4 – Partnership Accounts – III (Goodwill: Nature and Valuation)

Chapter No. 5 – Partnership Accounts – IV (Reconstitution of Partnership)

Chapter No. 6 – Partnership Accounts – V (Admission of A Partner)

Chapter No. 7 – Partnership Accounts – VI (Retirement and Death of A Partner)

Chapter No. 8 – Company Accounts (Share Capital)

Chapter No. 9 – Company Accounts (Issue of Debentures)

Chapter No. 10 – Company Accounts (Redemption of Debentures)

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Chapter No. 1 – Financial Statements of a Company (Balance Sheet Only)

Chapter No. 2 – Techniques of Financial Statement Analysis

Chapter No. 3 – Ratio Analysis 

Chapter No. 4 – 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  - USHA Publication  12 Class
T.S. Grewal’s Analysis of Financial Statements

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