Question 35 Chapter 1 VK Publications Class 12 Part 2 – 2021

Question 35 - CH-1 Solution
Question 35 - CH-1 Solution

Question 35 Chapter 1 VK Publications Class 12 Part 2 – 2021

35. Rearrange the following in the form of a Company’s Balance Sheet as per schedule III ,Part I of the Companies Act, 2013 :

Trade Payable Rs. 3,000
Unclaimed Dividend Rs. 12,000
Trade Receivable Rs. 11,000
Shares in NPTC Ltd. Rs. 20,000
Marketable Securities Rs. 50,000
Securities Premium Reserve Rs. 75,000
Prepaid Rent Rs. 1,000
Stores and Spares Rs. 6,000
Fixed Assets Rs. 2,000

The solution of Question 35 Chapter 1 VK Publications Class 12 Part 2: –

Particulars Note No. Current Year (Rs. ) Previous Year (Rs.)
EQUITY AND LIABILITIES      
1.Shareholders’ Funds      
(a) Reserves and Surplus 1. 75,000  
2. Current Liabilities      
(a) Trade Payable   3,000  
(b) Other Current Liabilities 2. 12,000  
       
Total   90,000  
       
II. ASSETS
     
1. Non-current Assets
     
a) Fixed Assets
  2,000  
(b) Non-Current Investments 3. 20,000  
       
2. Current Assets      
(a) Inventories 4. 6,000  
(b) Trade Receivables   11,000  
(c) Cash and Cash Equivalents: 5. 50,000  
(d) Other Current Assets 6. 1,000  
       
Total   90,000  

Notes to Accounts:

Particulars   Amount (Rs.)
1. Reserves and Surplus:    
Securities Premium Reserve   75,000
     
2. Other current Liabilities    
Unclaimed dividends   12,000
     
3. Non- Current Investments .    
Shares in NPTC Ltd.   20,000
     
4. Inventories :    
Stores and Spares   60,000
     
5. Cash And Cash Equivalent    
Marketable securities   50,000
     
6. Other Current Assets    
Prepaid Rent   1,000

 

Financial Statements of a Company and Its formats

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)

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

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