Question 28 Chapter 1 of +2-B – T.S. Grewal 12 Class

Question 28 Chapter 1 of +2-B

Question 28 Chapter 1 of +2-B

28. Prepare Balance Sheet of HP Ltd. As at 31st March 2019 from the following information:

  Rs.
Equity Share Capital 20,00,000
12% Preference Share Capital 10,00,000
Fixed Assets (At cost)  46,60,000
Accumulated Depreciation  16,60,000
Investments 4,00,000
Current Liabilities  8,00,000
12% Debentures 6,00,000
Surplus, i.e., Balance  in Statement of Profit and Loss (Cr.) 3,00,000
Stock 6,00,000
Sundry Debtors  8,00,000
Cash 1,50,000
Loans and Advances 50,000
Provision for Taxation 2,00,000
Workmen Compensation  Reserve 1,00,000

The solution of Question 28 Chapter 1 of +2-B: – 

Items

Note no.
(2)

Figures as at the end of the Current Reporting Period
(3)
Figures as at the end of the Previous Reporting Period
(4)
I. Equity and Liabilities      
1. Shareholders’ Funds      
Share Capital 1 30,00,000  
Reserves and surplus 2 4,00,000  
2. Share Application Money Pending Allotment      
2. Share Application Money Pending Allotment      
3. Non-Current Liabilities      
(a) Long-term borrowings 3 6,00,000  
4. Current Liabilities 4 10,00,000  
Total   50,00,000  
1.Non-Current Assets      
(a) Fixed Assets:   30,00,000  
Investment   4,00,000  
2. Current Assets      
Trade Receivables   8,00,000  
Inventories   6,00,000  
Short-term loans and advances   50,000  
Cash and Cash equivalents   1,50,000  
Total   50,00,000  

 

Particulars

Amount

Share Capital    
Equity Share Capital 20,00,000  
12% Preference Share Capital 10,00,000 30,00,000
Reserves and surplus    
Surplus, i.e., Balance in Statement of Profit and Loss (Cr.) 3,00,000  
Workmen Compensation Reserve 1,00,000 4,00,000
Non-Current Liabilities    
Long-term borrowings    
12% Debentures 6,00,000 6,00,000
Current Liabilities    
Other Current Liabilities 8,00,000  
Provision for Taxation 2,00,000 10,00,000
Fixed Assets: 46,60,000  
Less: Accumulated Depreciation 16,60,000 30,00,000
Trade Receivables    
Sundry Debtors 8,00,000 8,00,000
Inventories    
Stock 3,00,000 3,00,000
Short-term loans and advances    
Loans and Advances 50,000 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: –

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

  • Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
  • Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
  • Chapter No. 3 – Goodwill: Nature and Valuation
  • Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
  • Chapter No. 5 – Admission of a Partner
  • Chapter No. 6 – Retirement/Death of a Partner
  • Chapter No. 7 – Dissolution of a Partnership Firm

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

  • Chapter No. 1 – Financial Statements of a Company
  • Chapter No. 2 – Financial Statement Analysis 
  • Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
  • Chapter No. 4 – Accounting Ratios
  • Chapter No. 5 – Cash Flow Statement

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

2 Book 3 min 225x300 - Question 28 Chapter 1 of +2-B  - T.S. Grewal 12 Class
T.S. Grewal’s Analysis of Financial Statements

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