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

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)

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 31 Chapter 4 of +2-B  - T.S. Grewal 12 Class
T.S. Grewal’s Analysis of Financial Statements

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