Table of Contents
Question 31 Chapter 4 of +2-B
31. Following is the Balance Sheet of Crescent Chemical Works Limited as at 31st March 2019
| Particulars | Note No. | Amount |
| I. Equity and Liabilities | ||
| 1. Shareholders’ Funds | ||
| (a) Share Capital | 70,000 | |
| (b) Reserves and Surplus | 35,000 | |
| 3. Non-Current Liabilities | ||
| (a) Long-term borrowings | 25,000 | |
| 4. Current Liabilities | ||
| (a) Short-term Borrowings | 3,000 | |
| (b) Trade Payables | 13,000 | |
| (d) Short-term Provision | 4,000 | |
| Total | 1,50,000 | |
| II. Assets | ||
| 1.Non-Current Assets | ||
| (a) Fixed Assets: | 45,000 | |
| (b) Non-Current Investment | 5,000 | |
| 2. Current Assets | ||
| (b)Inventories | 3,000 | |
| (c) Trade receivable | 13,000 | |
| (d) Cash and Cash equivalents | 4,000 | |
| Total | 1,50,000 | |
The solution of Question 31 Chapter 4 of +2-B: –
| Current Assets | = | Inventory + Trade Receivables + Cash and Cash Equivalents |
| = | Rs.50,000 + Rs.30,000 + Rs.20,000 | |
| Current Assets | = | Rs. 1,00,000 |
| Current Liabilities | = | Short-term Borrowings + Trade Payables + Provision for Tax |
| = | Rs.3,000 + Rs.13,000 + Rs.4,000 | |
| Current Liabilities | = | Rs. 20,000 |
| Liquid Assets | = | Trade Receivables + Cash and Cash Equivalents |
| = | Rs.30,000 + Rs.20,000 | |
| Liquid Assets | = | Rs. 50,000 |
| Current Ratio | = | Current Assets | = | Rs.1,00,000 |
| Current Liabilities | Rs.20,000 | |||
| = | 5: 1 |
| Liquid Ratio | = | Liquid Assets | = | Rs.50,000 |
| Current Liabilities | Rs.20,000 | |||
| = | 2.5: 1 |
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)
- 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
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
