
Question 27 Chapter 1 of +2-B
Arrangement of Balance sheet Items
27. (Balance Sheet with Notes to Accounts/GST) The following balances appeared in the books of Roop Publications Limited on 31st March 2018.
Particular | Rs |
Goodwill | 20,000 |
Plant & Machinery | 1,60,000 |
Building | 1,50,000 |
Cash in hand | 10,000 |
Computer Soft wares | 70,000 |
10,000 Shares of each Rs 8 paid up | 80,000 |
8% Debentures | 2,50,000 |
Trade Payables | 40,000 |
Output IGST | 10,000 |
Output CGST | 15,000 |
Output SGST | 15,000 |
Prepare the Balance Sheet of the company as per schedule III of the Companies Act, 2013.
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The solution of Question 27 Chapter 1 of +2-B: –
Balance Sheet |
||
Particulars |
Note no. | Amount |
II Equity & Liabilities | ||
1. Shareholders’ Fund | ||
Share Capital | 1 | 80,000 |
2. Non-Current Liabilities | ||
Long term Borrowing | 2 | 2,50,000 |
3. Current Liabilities | ||
Trade Payable | 40,000 | |
Other Current Liabilities | 3 | 40,000 |
Total | 4,10,000 | |
II Assets | ||
1. Non-current Assets | ||
Fixed Assets | ||
Tangible Assets | 4 | 3,10,000 |
Non-Current Investments | 5 | 90,000 |
2. Current Assets | ||
Cash & Cash Equivalents | 6 | 10,000 |
Total | 4,10,000 |
Working Note
Particulars |
Note no. | Amount | |
1. Reserve and Surplus | |||
10,000 Shares of each Rs 8 paid up | 80,000 | ||
2. Long term Borrowings | |||
8% Debentures | 2,50,000 | ||
3. Other Current Liabilities | |||
Output IGST | 10,000 | ||
Output CGST | 15,000 | ||
Output SGST | 15,000 | ||
40,000 | |||
4. Tangible Fixed Assets | |||
Plant & Machinery | 1,60,000 | ||
Building | 1,50,000 | ||
3,10,000 | |||
5. Intangible Fixed Assets | |||
Goodwill | 20,000 | ||
Computer Software | 70,000 | ||
90,000 | |||
6. Inventories | |||
Cash in hand | 1,000 |
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
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