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

Question No 16 Chapter No 18

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

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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

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T.S. Grewals Double Entry Book Keeping - Question No 16 Chapter No 18 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

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