Question No 16 Chapter No 18 - T.S. Grewal 11 Class

Question No 16 Chapter No 18

16. From the Balance Sheet given below, calculate: i Fixed Assets ii Current Assets iii Current Liabilities iv Working Capital

Liabilities		Assets
Trade Creditors	42,000	Stock in Hand	48,000
Expenses Accrued	3,200	Debtors	36,000
Bank Overdraft	4,800	Prepaid Expenses	400
Long-Term Loan	20,000	Goodwill	20,000
Interest on Loan	1,000	Land	20,000
Capital	93,400	Plant	32,000
		Furniture	8,000
	1,64,400		1,64,400

The solution of Question No 16 Chapter No 18:-

(i) Fixed Assets	=	Land +Plant +Furniture +Goodwill
	=	20,000 +32,000 +8,000 +20,000
	=	Rs 80,000
(ii) Current Assets	=	Stock +Debtors +Prepaid Expenses
	=	48,000 +36,000 +400
	=	Rs 84,400
(iii) Current Liabilities	=	Creditors +Expenses Accrued +Bank Overdraft +Interest on Loan
	=	42,000 +3,200 +4,800 +1,000
	=	Rs 51,000
(iv) Working Capital	=	Current Assets −Current Liabilities
	=	84,400 −51,000
	=	Rs 33,400

Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

Thanks, Please Like and share with your friends

Comment if you have any question.

Advertisement-X

Also, Check out the solved question of previous Chapters: –

- Chapter No. 1 – Introduction to Accounting
- Chapter No. 2 – Basic Accounting Terms
- Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
- Chapter No. 4 – Bases of Accounting
- Chapter No. 5 – Accounting Equation
- Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
- Goods and Services Tax(GST)
- Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
- Chapter No. 8 – Journal
- Chapter No. 9 – Ledger
- Chapter No. 10 – Special Purpose Books I – Cash Book
- Chapter No. 11 – Special Purpose Books II – Other Books
- Chapter No. 12 – Bank Reconciliation Statement
- Chapter No. 13 – Trial Balance
- Chapter No. 14 – Depreciation
- Chapter No. 15 – Provisions and Reserves
- Chapter No. 16 – Accounting for Bills of Exchange
- Chapter No. 17 – Rectification of Errors
- Chapter No. 18 – Financial Statements of Sole Proprietorship
- Chapter No. 19 – Adjustments in preparation of Financial Statements
- Chapter No. 20 – Accounts from incomplete Records – Single Entry System
- Chapter No. 21 – Computers in Accounting
- Chapter No. 22 – Accounting Software – Tally
- Chapter No. 5 – Accounting Equation
- Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
- Goods and Services Tax(GST)
- Chapter No. 8 – Journal
- Chapter No. 9 – Ledger
- Chapter No. 10 – Special Purpose Books I – Cash Book