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

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

• 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

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