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 Content covered in this article:
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 (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
- 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
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement
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