Question 31 Chapter 4 of +2-B – T.S. Grewal 12 Class

Question 31 Chapter 4 of +2-B

 

Question 31 Chapter 4 of +2-B

31. Following is the Balance Sheet of Crescent Chemical Works Limited as at 31st March 2019

ParticularsNote 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
Total1,50,000
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
Total1,50,000

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 RatioCurrent Assets=Rs.1,00,000
Current LiabilitiesRs.20,000
 =5: 1  

 

Liquid RatioLiquid Assets=Rs.50,000
Current LiabilitiesRs.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)

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)

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T.S. Grewal’s Analysis of Financial Statements

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