Chapter No. 1 – Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution

The Financial Statements of a Company includes three numbers of statement these are discussed in this topic: 

What are the Financial Statements of a Company:

According to the accounting policies, practices, and accounting standards, we have to prepare financial statements of a company at the end of each financial year. Section 129 of the Company Act, 2013, prescribed the format of the balance sheet and profit and loss account(Income statement) in the scheduled III of the Company Act 2013.

Section 2(4) of the Company Act, 2013 includes the following financial statements: 

  1. Balance Sheet
  2. Profit and loss account
  3. Notes to Accounts
  4. Cash Flow Statement

Definitions of Financial Statements of a Company: 

“The Financial Statement Provide a summary of accounts of a business enterprise, the Balance Sheet reflecting the Assets, Liabilities, and capital as on a certain date and income statement showing the results and operation during a certain period.” 

– John N. Myer

“Financial Statement is the end product of financial accounting prepared by the accounts of a business enterprise that purport to reveal the financial position of the enterprise, the result of its recent activities, and an analysis of what has been done with earnings.”

– Smith and Ashburne

Check out the full article: –

Financial Statements of a Company and Its formats

Chapter No. 1 – Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution

Question wise solution of the all Questions of Chapter No. 1 – Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solutions are shown below: –

Q 1 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 01 Chapter 1 of +2-B Arrangement of Balance sheet Items 1. (Exhibiting full paid-up capital) Punjab Steel Ltd. Has ...
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Q 2 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 02 Chapter 1 of +2-B Arrangement of Balance sheet Items 2. (Exhibiting Not Full Paid-up Capital) Good Year Tyre ...
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Q 3 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 03 Chapter 1 of +2-B Arrangement of Balance sheet Items 3. (Subscribed but Not Full Paid up Capital) Assam ...
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Q 4 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 04 Chapter 1 of +2-B Arrangement of Balance sheet Items 4. (Showing Full Format of Share Capital) A company ...
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Q 5 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 05 Chapter 1 of +2-B Arrangement of Balance sheet Items 5. (Positive Balance in Reserve and Surplus) Ceat Tyre ...
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Q 6 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 1 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 06 Chapter 1 of +2-B Arrangement of Balance sheet Items 6. (Negative Balance: Reserve and Surplus) Jupitor Limited, has ...
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Q 7 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 1 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 07 Chapter 1 of +2-B Arrangement of Balance sheet Items 7. (Treatment of Reserve and Surplus/Bonus Shares Issued)   ...
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Q 8 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 1 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 08 Chapter 1 of +2-B Arrangement of Balance sheet Items 8. (Rearranging Heads of Assets & Liabilities) Rearrange the ...
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Q 9 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 1 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 09 Chapter 1 of +2-B Arrangement of Balance sheet Items 9. (Example of various heads of Balance Sheet) Give ...
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Q 10 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 10 Chapter 1 of +2-B Arrangement of Balance sheet Items 10. (Identification of heads of Assets & Liabilities/GST) Give ...
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Q 11 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 11 Chapter 1 of +2-B Arrangement of Balance sheet Items 11. (Identification of heads of Assets & Liabilities) Give ...
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Q 12 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 12 Chapter 1 of +2-B Arrangement of Balance sheet Items 12. (Identification of heads of Assets & Liabilities/GST) Give ...
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Q 13 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 13 Chapter 1 of +2-B Arrangement of Balance sheet Items 13. (Identification of heads of Assets & Liabilities) Give ...
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Q 14 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 14 Chapter 1 of +2-B Arrangement of Balance sheet Items 14. (Identification of heads of Assets & Liabilities) Give ...
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Q 15 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 15 Chapter 1 of +2-B Arrangement of Balance sheet Items 15. (Items under Major headings) Enumerate any two items ...
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Q 16 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 16 Chapter 1 of +2-B Arrangement of Balance sheet Items 16. (Identification of heads of Assets & Liabilities/GST) Give ...
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Q 17 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 17 Chapter 1 of +2-B Arrangement of Balance sheet Items 17. (Treatment of Fixed Assets & Depreciation in Balance ...
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Q 18 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 18 Chapter 1 of +2-B Arrangement of Balance sheet Items 18. (Reserve & surplus in Balance Sheet) How would ...
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Q 19 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 19 Chapter 1 of +2-B Arrangement of Balance sheet Items 19. (Reserve & surplus in Balance Sheet) How would ...
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Q 20 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 20 Chapter 1 of +2-B Arrangement of Balance sheet Items 20. (Equity & Liabilities with Notes to Accounts) The ...
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Q 21 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 21 Chapter 1 of +2-B Arrangement of Balance sheet Items9 21. (Balance Sheet with Notes to Accounts/totaling not required) ...
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Q 22 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 22 Chapter 1 of +2-B Arrangement of Balance sheet Items 22. (Balance Sheet with Notes to Accounts ) The ...
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Q 23 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 23 Chapter 1 of +2-B Arrangement of Balance sheet Items 23. (Balance Sheet with Notes to Accounts) Following balances ...
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Q 24 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 24 Chapter 1 of +2-B Arrangement of Balance sheet Items 24. (Balance Sheet with Notes to Accounts/GST) The following ...
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Q 25 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 25 Chapter 1 of +2-B Arrangement of Balance sheet Items 25. (Identification of Major Heads in B/S) The following ...
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Q 26 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 26 Chapter 1 of +2-B Arrangement of Balance sheet Items 26. (Balance Sheet with Notes to Accounts/GST) The following ...
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Q 27 CH 1 Book 2 Usha Pub. 2 Book 2020 Solution min 360x203 - Chapter No. 1 - Financial Statements of a Company – USHA Publication Class +2 (Part 2) – Solution
Question 27 Chapter 1 of +2-B Arrangement of Balance sheet Items 27. (Balance Sheet with Notes to Accounts/GST) The following ...
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