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Question 50 Chapter 1 of +2-B
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Miscellaneous
50.Under which Line item of the Financial Statements following items will be shown:
(i) Sales; (ii) Loss on Sale of Vehicle; (iii) Debentures; (iv)Unamortised Loss On Issue of Debentures (to be written off within 12 months of the date of Balance Sheet); (v) Encashable Leave Payable at the Time of Retirement; (vi) Tax Reserve; (vii) Carriage on Purchases of Stock-in-Trade; and (viii) Telephone and Internet Expenses?
The solution of Question 50 Chapter 1 of +2-B: –
Items | Major Heads |
| (i) Sales | Revenue From Operations |
| (ii) Loss on Sale of Vehicle | Other Expenses |
| (iii) Debentures | Long-term Borrowings |
| (iv)Unamortised Loss On Issue of Debentures (to be written off within 12 months of the date of Balance Sheet) | Other Non-current Assets |
| (v)Encashable Leave Payable at the Time of Retirement | Long-term Provisions |
| (vi) Tax Reserve | Reserves and Surplus |
| (vii) Carriage on Purchases of Stock-in-Trade | Other Expenses |
| (viii)Telephone and Internet Expenses | Other Expenses |
To understand more about Balance Sheet please check out following links:
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
