Question 1

Question No 01 Chapter 4 – UNIMAX Class 12 Part 2 – 2021

Sarbjit Singh · Accepted Answer

Question No 01 Chapter 4 – UNIMAX Class 12 Part 2 – 2021
Rearrange the following heads of assets side of balance sheet: (a) Miscellaneous expenditure, (b) Loan and Advance, (c) Fixed assets, (d) Investment, € Current assets.
The solution of Question No 01 Chapter 4 – UNIMAX Class 12 Part 2 – 2021: -

1. Non-Current Assets
(a) Fixed Assets

(b) Non-Current Liabilities

(d) Other Non-Current Assets (Investment)

2. Current Assets
(e) Other Non-Current Asse

Question 2

Question No 02 Chapter 4 – UNIMAX Class 12 Part 2 – 2021

Sarbjit Singh · Accepted Answer

Question No 02 Chapter 4 – UNIMAX Class 12 Part 2 – 2021
Rearrange the following items under three heads:(1) Fixed assets (2) Current assets (3) Tangible assets

A. Stock in trade
K. Leasehold

B. Cash in hand
L. Plant

C. Vehicles
M. Interest accrued

D. Advance to subsidiary
N. Trade marks

E. Live stocks
O. Bills receivable

F. Loose tools
P. Debtors

G. Goodwill
Q. Land

H. Stores and spare parts
R. Prepaid expenses

I. Furniture
S. Cash with bank

J. Work-in-progress
T. Deposit

Question 3

Question No 03 Chapter 4 – UNIMAX Class 12 Part 2 – 2021

Sarbjit Singh · Accepted Answer

Question No 03 Chapter 4 – UNIMAX Class 12 Part 2 – 2021
State briefly the items which included in the following heads under which assets of a limited company are shown:
(Fixed assets (b) Investment; (c) Current assets, Loans and Advance.
The solution of Question No 03 Chapter 4 – UNIMAX Class 12 Part 2 – 2021: -

Fixed Assets
Investment
Current Assets

It cover in Non-Current Assets
Intangible Asset Under Development
Loans And Advances

Sub Heading Under Fixed Assets
Intangible Asset Under

Question 4

Question No 04 Chapter 4 – UNIMAX Class 12 Part 2 – 2021

Sarbjit Singh · Accepted Answer

Question No 04 Chapter 4 – UNIMAX Class 12 Part 2 – 2021
How would you disclose the following items in the balance sheet of a Limited company:(1) Furniture (2) Securities premium account (3) Provision for Tax (5) Loose Tools (5) share forfeited account.
The solution of Question No 04 Chapter 4 – UNIMAX Class 12 Part 2 – 2021: -

S. No
Items
Main Heading
Sub Heading

1.
Furniture
Non-Current Assets
Fixed Assets-Tangible Assets

2.
Securities Premium Account
Shareholder’s Fund
Shareholder’s F

Question 5

Question No 05 Chapter 4 – UNIMAX Class 12 Part 2 – 2021

Sarbjit Singh · Accepted Answer

Question No 05 Chapter 4 – UNIMAX Class 12 Part 2 – 2021
Rearrange the following items under three heads:(1) Fixed assets (2) Current assets (3) Tangible assets

A. Stock in trade
K. Leasehold

B. Cash in hand
L. Plant

C. Vehicles
M. Interest accrued

D. Advance to subsidiary
N. Trade marks

E. Live stocks
O. Bills receivable

F. Loose tools
P. Debtors

G. Goodwill
Q. Land

H. Stores and spare parts
R. Prepaid expenses

I. Furniture
S. Cash with bank

J. Work-in-progress
T. Deposit

Question 6

Question No 06 Chapter 4 – UNIMAX Class 12 Part 2 – 2021

Sarbjit Singh · Accepted Answer

Question No 06 Chapter 4 – UNIMAX Class 12 Part 2 – 2021
How would you disclose the following items in the Balance sheet of a Limited company:(1) Stock; (2) Goodwill; (3) Bills payable; (4) Preliminary expenses; (5) Unclaimed dividends.
The solution of Question 6 Chapter 4 - Unimax Publication Class 12 Part 2-2021 : -

S. No
Items
Main Heading
Sub Heading

1.
Stock
Current Assets
Inventories

2.
Goodwill
Non-Current Assets – Fixed Assets
Intangible Assets

3.
Bills Payable
Current Liabilit

Question 7

Question No 07 Chapter 4 – UNIMAX Class 12 Part 2 – 2021

Sarbjit Singh · Accepted Answer

Question No 07 Chapter 4 – UNIMAX Class 12 Part 2 – 2021
Under which will you show the following items in the balance sheet of a limited company?
(1) Preposed Dividend (2) Work in Progress(3) Acceptance (Bills Payable)(4) Capital Reserve(5) Loan from Bank(6) Investment in immovable properties.(7) Interest accured and due on debentures.(8) Bills of Exchange (9) Fixed Deposits(10) Underwriting commission
The solution of Question 7 Chapter 4 - Unimax Publication Class 12 Part 2 -2021: -

S. No
I

Question 8

Question No 08 Chapter 4 – UNIMAX Class 12 Part 2 – 2021

Sarbjit Singh · Accepted Answer

Question No 08 Chapter 4 – UNIMAX Class 12 Part 2 – 2021
How would you disclose the following items in the balance sheet of a company:
(1) Interest accured on investments(2) Calls unpaid (3) Debenture Redemption (4) Discount allowed on issue of shares and debentures.(5) Debenture Redemption Fund (6) Provision on redemption of debentures(7) Loss on issue of debenture(8) Calls in advance (9) Deposit with Customer Authorities (10) Bills discounted but not yet matured.
The solution of Question No 0

Question 9

Question No 09 Chapter 4 – UNIMAX Class 12 Part 2 – 2021

Sarbjit Singh · Accepted Answer

Question No 09 Chapter 4 – UNIMAX Class 12 Part 2 – 2021
Under which heading will you show the following items?(a) Debenture Suspense Account(b) Provision for Provident fund(c) Development Expenditure(d) Profit & Loss Account (Dr.)(e) Uncalled liabilities on partly paid shares held as investments.
The solution of Question 9 Chapter 4 - Unimax Publication Class 12 Part 2 - 2021: -

S. No
Items 
Main Heading
Sub Heading

1.
Debenture Suspense A/c
Non-Current Assets
Other Non-Current Assets

Question 10

Question No 10 Chapter 4 – UNIMAX Class 12 Part 2 – 2021

Sarbjit Singh · Accepted Answer

Question No 10 Chapter 4 – UNIMAX Class 12 Part 2 – 2021
The following figures were extracted from the Trial Balance of X Ltd. share capital of 20,000 equity shares of ₹ 10 each fully paid.

Securities premium
₹ 20,000

12% debenture
₹ 80,000

Fixed Deposit
₹ 20,000

Creditors
₹ 15,000

You are required to draw up the liabilities side of the Balance Sheet according to the requirements of the Companies Act.
The solution of Question No 10 Chapter 4 – UNIMAX Class 12 Part 2 – 2021: -
Balanc

Question 11

Question No 11 Chapter 4 – UNIMAX Class 12 Part 2 – 2021

Sarbjit Singh · Accepted Answer

Question No 11 Chapter 4 – UNIMAX Class 12 Part 2 – 2021
Rearrange the following in the from of Company Balance Sheet S per Schedule 3 part 1 of the companies Act, 2013.

₹

Bills Payable
50,000

Unclaimed dividend
22,500

Accounts receivable
20,000

Shares in XYZ Ltd.
30,000

Deposits with ICICI Bank
80,000

Securities premium
75,000

Prepaid rent
4,000

Underwriting commission
3,000

Stores and spares
8,000

Patents
2,000

The solution of Question No 11 Chapter 4 – UNIMAX Clas

Question 12

Question No 12 Chapter 4 – UNIMAX Class 12 Part 2 – 2021

Sarbjit Singh · Accepted Answer

Question No 12 Chapter 4 – UNIMAX Class 12 Part 2 – 2021
X Ltd. has an authorized capital of ₹ 30,00,000 dividend into equity shares of ₹ 10 each. The company invited application for 1,20,000 shares. Application for 90,000 shares were received. All calls were made and were duly received except the final call of ₹ 2 per shares on 11,000 shares. 5,000 of the shares on which the final call was not received were forfeited. Show how share capital will appear in the balance sheet of the company as pe

Question 13

Question No 13 Chapter 4 – UNIMAX Class 12 Part 2 – 2021

Sarbjit Singh · Accepted Answer

Question No 13 Chapter 4 – UNIMAX Class 12 Part 2 – 2021
Prepare a Balance Sheet of V.T. Ltd. as on 31st March 2022 as per provisions of Part 1, Schedule 3, of the Companies Act, 2013 from the following information:

₹

General Reserves
8,000

Debentures
8,000

Profit and Loss Account (Cr.)
2,200

Depreciation on Fixed Assets
1,300

Gross Fixed Assets
29,000

Current liabilities
6,500

Preliminary expenses
2,800

Preference share capital
15,000

Current Assets
9,200

The solution

Question 14

Question No 14 Chapter 4 – UNIMAX Class 12 Part 2 – 2021

Sarbjit Singh · Accepted Answer

Question No 14 Chapter 4 – UNIMAX Class 12 Part 2 – 2021
Show how will you show the following items in the Balance Sheet of a Limited Company as on 31st March, 2022?(1) Original cost of Machinery ₹ 8,00,000.(2) Books value of machinery as on 1st April, 2021 ₹ 5,60,000.(3) Depreciation is to be written of at 10% on written down value method.
The solution of Question No 14 Chapter 4 – UNIMAX Class 12 Part 2 – 2021: -
Balance sheet (Extract form)As on 31st March 2022

Particulars
 
Amount ₹

No

Question 15

Question No 15 Chapter 4 – UNIMAX Class 12 Part 2 – 2021

Sarbjit Singh · Accepted Answer

Question No 15 Chapter 4 – UNIMAX Class 12 Part 2 – 2021
The following ledger balances were extracted from the books of Varun Ltd. on 31st March, 2022.Land and Building ₹ 2,00,000; 12% Debenture ₹ 2,00,000; Share capital ₹ 1,00,000 equity shares of ₹ 10 each fully paid up; Plant and Machinery ₹ 8,00,000; Goodwill ₹ 2,00,000; Investment in shares of Raja Ltd. ₹ 2,00,00; Bills Receivable ₹ 50,000 ; Debtors ₹ 1,50,000; Creditors ₹ 1,00,000; Bank loan (Unsecured) ₹ 1,00,000; Provision for Taxation

Question 16

Question No 16 Chapter 4 – UNIMAX Class 12 Part 2 – 2021

Sarbjit Singh · Accepted Answer

Question No 16 Chapter 4 – UNIMAX Class 12 Part 2 – 2021
The following Balance appear in Books of Y Ltd

₹

Land and Building
1,80,000

Plant and Machinery
1,25,000

Goodwill
15,000

Stock
90,000

Cash
30,000

Shares Capital: 1,000 Equity shares @ ₹ 100 each; ₹ 75 per share called up and paid ep
75,000

8% Debenture
3,00,000

Preliminary expenses
5,000

Creditors
45,000

Dividend payable
25,000

Shown the above items under the major heads in accordance with Part 1 of Schedule 3

Question 17

Question No 17 Chapter 4 – Unimax Class 12 Part 2 – 2021

Sarbjit Singh · Accepted Answer

Question No 17 Chapter 4 – Unimax Class 12 Part 2 – 2021
The following balances have been extracted from the books of Pioneer Ltd. as of 31st March 2022:

₹

Equity share capital (fully paid shares of ₹ 100 each)
2,50,000

Investments
1,10,000

Loans and Advances
10,000

Provision for Taxation
90,000

8% Debentures
80,000

Reserve and Surplus
1,98,000

Fixed Assets (at cost)
5,40,000

Current Assets
2,90,000

Current Liabilities
1,94,000

Discount on issue of debentures
6,000

Pr

Question 18

Question No 18 Chapter 4 – UNIMAX Class 12 Part 2 – 2021

Sarbjit Singh · Accepted Answer

Question No 18 Chapter 4 – UNIMAX Class 12 Part 2 – 2021
From the following particulars furnished by ABC Ltd., prepares the balance sheet as at 31st March, 2022 as required by Part 1 Schedule 3 of the Companies Act, 2013. Give necessary notes at the foot of balance sheet.

Particulars
Debit ₹ 
Credit ₹

Equity share capital (face value of ₹ 100 each)
 
10,00,000

Land and Building
5,50,000

Plant and Machinery
5,25,000

Furniture
50,00

General reserve
 
2,10,000

Loan form state

Question 19

Question No 19 Chapter 4 – UNIMAX Class 12 Part 2 – 2021

Sarbjit Singh · Accepted Answer

Question No 19 Chapter 4 – UNIMAX Class 12 Part 2 – 2021
From the following information, prepare the balance sheet of a company in the prescribed perform as per Schedule 3 part 1 as at 31st March, 2022.

Particulars
₹

Land and Building
6,00,000

Plant and Machinery
3,00,000

Furniture
3,91,000

Investment in Govt. Securities
3,00,000

Investment in shares of the company
1,50,000

Stock in trade
40,000

Debtors
80,000

Preliminary expenses
13,000

Underwriting commission
15,000

Br

Question 20

Question No 20 Chapter 4 – UNIMAX Class 12 Part 2 – 2021

Sarbjit Singh · Accepted Answer

Question No 20 Chapter 4 – UNIMAX Class 12 Part 2 – 2021
Form the following information extracted from the books of Verma Ltd. prepare Balance Sheet.

(000)

Share capital
3,000
Other current assets
800

Reserve and surplus
1,260
Inventories
1,060

Application money 
160
Trade receivable
480

Pending allotment 
 
Tangible fixed assets
1,680

Other long term
400
Intangible fixed assets
440

Liabilities
 
Capital work in progress
460

Trade payable
300
Intangible assets

Long te

Unimax Accountancy Class 12 Part 2 - 2023 Solutions Chapter 4 Financial Statement of a Company (Balance Sheet only) - Unimax

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