Question 30 Chapter 1 - VK Publications Class 12 Part 2

Question 30 Chapter 1 VK Publications Class 12 Part 2 – 2021

Table of Contents

28, The following balances were extracted from the books of Queen Limited as at 31st ,March 2018:

Particulars	Rs.	Particulars	Rs.
1. Investment ( Long term)	171	7. Provision for Taxation	18,000
2. Bonds	135	8. Reserves and Surplus	8,80,200
3. Current liabilities	296	9. Equity Shares Capital	36,000
4. Losse Tools	440	10. Fixed assets	2,70,000
5. Unsecured Loans	45	11. discount on Issues of Debentures	7,20,000
6. Loans and advances	9	(to be written off within 12 months)

There is a contingent liability in respect of a claim of Rs. 10 crore against the company not acknowledged as debt.

You are required to prepare the Balance Sheet of Anzar Ltd. as at 31st Mar 2018 as prescribed under Schedule III, Part I of the Companies Act, 2013.

The solution of Question 30 Chapter 1 VK Publications Class 12 Part 2: –

Particulars	Note No.	Current Year (Rs. )	Previous Year (Rs.)
EQUITY AND LIABILITIES
1.Shareholders’ Funds
(a) Share Capital		360
(b) Reserves and Surplus		297
2. Non-current Liabilities
(a) Long-term Borrowings	1.	135
3. Current Liabilities
(a) Short-term Borrowings	2.	45
(b) Other Current Liabilities		296
(c) Short-term Provisions	3.	135

Total		1,268

II. ASSETS
1. Non-current Assets
a) Fixed Assets		630
(b) Non-current Investments		171

2. Current Assets
(a) Inventories		440
(b) Short-term Loans and Advances	4.	9
(c) Other Current Assets	5.	18

Total		1268

Notes to Accounts: