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VDO+ Tag:Question 11 Chapter 14 of Class 12 Part – 2 – 2024
11. (Short Term Financial Position) Following is the balance sheet of Crescent Chemical Works Limited as of 31st March 2018
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Video Tag:| Balance Sheet | ||
| Particular | Note No. | ₹ |
| I. Equity and Liabilities | ||
| Shareholders’ Funds | ||
| 6% Preference Share Capital: Issued and Paid-up | 15,000 | |
| Equity Share Capital: Issued and paid up | 55,000 | |
| Reserves and Surplus | ||
| General Reserve | 25,000 | |
| Reserves for Contingencies | 10,000 | |
| Non-Current Liabilities | ||
| Long-term Borrowing : | ||
| 6% Mortgage Debentures | 25,000 | |
| Current Liabilities | ||
| Trade Payable | 11,000 | |
| Other Current Liabilities : | ||
| Outstanding Expenses | 2,000 | |
| Output IGST | 2,000 | |
| Output CGST | 2,500 | |
| Output SGST | 2,500 | |
| 1,50,000 | ||
| II. Assets : | ||
| Non-Current Assets | ||
| Tangible Assets | ||
| Land and Building | 20,000 | |
| Plant and Machinery | 22,000 | |
| Furniture and Fixtures | 3,000 | |
| Current Assets | ||
| Trade Investment | 5,000 | |
| Inventory | 50,000 | |
| Trade Receivable | 30,000 | |
| Prepaid Expenses | 2,000 | |
| Cash at Bank | 18,000 | |
| 1,50,000 | ||
The solution of Question 11 Chapter 14 of Class 12 Part – 2 – 2024: –
| Current Assets | = | Inventories + Trade receivables + Trade Investments + Prepaid expenses + Cash |
| = | ₹ 50,000 + ₹ 30,000 + ₹ 5,000 + ₹ 2,000 + ₹18,000 | |
| Current Assets | = | ₹ 1,05,000 |
| Current Liabilities | = | Trade payable + Outstanding Expenses + Output IGST + Output CGST + Output SGST |
| = | ₹ 11,000 + ₹ 2,000 + ₹ 2,000 + ₹ 2,500 + ₹ 2,500 | |
| Current Liabilities | = | ₹ 20,000 |
| Current Ratio= | Current Assets |
| Current Liabilities |
| Current Ratio | = | ₹ 1,05,000 |
| ₹ 20,000 | ||
| = | 5.25 : 1 |
| Quick Assets | = | Trade receivables + Trade Investments + Cash |
| = | ₹ 30,000 + ₹ 5,000 + ₹ 18,000 | |
| Quick Assets | = | ₹ 53,000 |
| Current Liabilities | = | ₹ 20,000 |
| Quick Ratio | = | Quick Assets |
| Current Liabilities | ||
| = | ₹ 53,000 | |
| ₹ 20,000 | ||
| Quick Ratio | = | 2.65 : 1 |
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Chapter-Wise Solution of Usha Publication Accountancy – Part 2 Class 12 – Session 2024-25 as per the PSEB curriculum
Check out Solutions to all questions of the every chapter shown as under. The Solution of Accountancy – Part 2 Class 12 – Session 2024-25 is provided as per the new book published by Usha Publication.
Chapter No. 8 – Company Accounts (Share Capital)
Chapter No. 9 – Company Accounts (Issue of Debentures)
Chapter No. 10 – Company Accounts (Redemption of Debentures)
Chapter No. 11 – Financial Statements of a Company
Chapter No. 12 – Financial Statement Analysis
Chapter No. 13 – Tools of Financial Statement Analysis- Comparative and Common Size
Chapter No. 14 – Ratio Analysis
Chapter No. 15 – Cash Flow Statement
Also, Check out our Comprehensive Chapter-wise solution of Advanced Accountancy Part 2 Class 12 by Unimax Publication
- Chapter No. 1 – Company Accounts (Share Capital)
- Chapter No. 2 – Issue of Debentures
- Chapter No. 3 – Redemption of Debentures
- Chapter No. 4 – Financial Statements of a Company (Balance Sheet Only)
- Chapter No. 5 -Financial Statement Analysis
- Chapter No. 6 – Tools/Methods of Financial Analysis
- Chapter No. 7 – Ratio Analysis
- Chapter No. 8 – Cash Flow Statement
Check out Part 1 of both books.
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1. Accountancy – Part 1 Class 12 – Session 2024-25 By Usha Publication
2. Advanced Accountancy Part 1 Class 12 by Unimax Publication