Question 28 Chapter 1 of +2-B
Table of Contents
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. |
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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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)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
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
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