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Question 49 Chapter 1 of +2-B – T.S. Grewal 12 Class

Question No. 49 - Chapter No.1 - T.S. Grewal +2 Book Part B-min

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Question 49 Chapter 1 of +2-B

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Miscellaneous

49.Under which Line item (major head) of the Statement of Profit and Loss of non-financial company will the following be shown:
(i) Interest on Loans Given ; (ii) Gain (profit) on Sale of Securities ; (iii) Loss on sale of fixed Assets; (iv)Interest paid on deposits; (v)Depreciation on Computers; (vi) Goodwill Written off; (vii)Commission paid for Deposits Mobilisation; (viii) Repairs
Expenses?

 The solution of Question 49 Chapter 1 of +2-B: – 

Items

Major Heads 
(i) Interest on Loans GivenRevenue From Operations
(ii) Gain (profit) on Sale of SecuritiesRevenue From Operations
(iii) Loss on Sale of Fixed AssetsOther Income
(iv)Interest paid on depositsFinance Costs
(v)Depreciation on ComputersDepreciation and Amortisation Expenses
(vi) Goodwill Written offDepreciation and Amortisation Expenses
(vii)Commission paid for Deposits MobilisationFinance Costs
(viii) Repairs Expenses?Other Expenses

To understand more about Balance Sheet please check out following links:

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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)

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

Question 1 Chapter 1 of +2-B
T.S. Grewal’s Analysis of Financial Statements

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