Question 50 Chapter 1 of +2-B - T.S. Grewal 12 Class

Question 50 Chapter 1 of +2-B

Table of Contents

The solution of Question 50 Chapter 1 of +2-B: –

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)

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