Question 27 Chapter 1 of +2-B – USHA Publication 12 Class

Question 27 Chapter 1 of +2-B

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.

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

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

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

2 Book 3 min 225x300 - Question 27 Chapter 1 of +2-B  - USHA Publication  12 Class
T.S. Grewal’s Analysis of Financial Statements

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