TS Grewal ii (2014) Solutions for Class 12 Commerce Accountancy Chapter 1 Financial Statements Of A Company are provided here with simple step-by-step explanations. These solutions for Financial Statements Of A Company are extremely popular among class 12 Commerce students for Accountancy Financial Statements Of A Company Solutions come handy for quickly completing your homework and preparing for exams. All questions and answers from the TS Grewal ii (2014) Book of class 12 Commerce Accountancy Chapter 1 are provided here for you for free. You will also love the ad-free experience on Meritnation’s TS Grewal ii (2014) Solutions. All TS Grewal ii (2014) Solutions for class 12 Commerce Accountancy are prepared by experts and are 100% accurate.
Page No 1.65:
Question 1:
Answer:
ITEMS | HEAD |
Sales | Revenue from Operations |
Revenue from services rendered | Revenue from Operations |
Sale of scrap | Revenue from Operations |
Interest earned or Loans | Other Income |
Profit on Sale of Investment | Other Income |
Page No 1.66:
Question 2:
ITEMS | HEAD |
Sales | Revenue from Operations |
Revenue from services rendered | Revenue from Operations |
Sale of scrap | Revenue from Operations |
Interest earned or Loans | Other Income |
Profit on Sale of Investment | Other Income |
Answer:
ITEMS | HEAD |
Profit on Sale of Building | Other Income |
Revenue from Project Consultancy Rendered | Other Income |
Sale of scrap | Other Income |
Interest earned or Loans | Revenue from Operations |
Profit on Sale of Investment | Revenue from Operations |
Page No 1.66:
Question 3:
ITEMS | HEAD |
Profit on Sale of Building | Other Income |
Revenue from Project Consultancy Rendered | Other Income |
Sale of scrap | Other Income |
Interest earned or Loans | Revenue from Operations |
Profit on Sale of Investment | Revenue from Operations |
Answer:
ITEMS | HEAD |
Profit on Sale of Fixed Assets | Other Income |
Fee Received for Arranging Loans | Revenue from Operations |
Interest on Loans Given | Revenue from Operations |
Profit on Sale of Investments | Revenue from Operations |
Sale of a Miscellaneous item | Other Income |
Page No 1.66:
Question 4:
ITEMS | HEAD |
Profit on Sale of Fixed Assets | Other Income |
Fee Received for Arranging Loans | Revenue from Operations |
Interest on Loans Given | Revenue from Operations |
Profit on Sale of Investments | Revenue from Operations |
Sale of a Miscellaneous item | Other Income |
Answer:
ITEMS | HEAD |
Profit on Sale of Fixed Assets | Other Income |
Fee Received for Arranging Loans | Other Income |
Interest on Loans Given | Other Income |
Profit on Sale of Investments | Other Income |
Sale of a Miscellaneous item | Other Income |
Page No 1.66:
Question 5:
ITEMS | HEAD |
Profit on Sale of Fixed Assets | Other Income |
Fee Received for Arranging Loans | Other Income |
Interest on Loans Given | Other Income |
Profit on Sale of Investments | Other Income |
Sale of a Miscellaneous item | Other Income |
Answer:
Page No 1.66:
Question 6:
Answer:
Note: Opening Inventory of Finished Goods and Closing Inventory of Finished Goods will not be considered as these are shown under Change in Inventory of Finished Goods.
Page No 1.66:
Question 7:
Note: Opening Inventory of Finished Goods and Closing Inventory of Finished Goods will not be considered as these are shown under Change in Inventory of Finished Goods.
Answer:
Note: Opening Inventory of Finished Goods and Closing Inventory of Finished Goods will not be considered as these are shown under Change in Inventory of Finished Goods. Also, Opening, Closing and Purchases of Stock-in-Trade are not considered as they are not part of cost of materials consumed.
Page No 1.66:
Question 8:
Note: Opening Inventory of Finished Goods and Closing Inventory of Finished Goods will not be considered as these are shown under Change in Inventory of Finished Goods. Also, Opening, Closing and Purchases of Stock-in-Trade are not considered as they are not part of cost of materials consumed.
Answer:
Note: Opening Inventory of Finished Goods and Closing Inventory of Finished Goods will not be considered as these are shown under Change in Inventory of Finished Goods, Work-in-Progress and Stock-in-Trade. Also, Opening, Closing and Purchases of Stock-in-Trade and Work-in-Progress are not considered as they are not part of cost of materials consumed.
Page No 1.66:
Question 9:
Note: Opening Inventory of Finished Goods and Closing Inventory of Finished Goods will not be considered as these are shown under Change in Inventory of Finished Goods, Work-in-Progress and Stock-in-Trade. Also, Opening, Closing and Purchases of Stock-in-Trade and Work-in-Progress are not considered as they are not part of cost of materials consumed.
Answer:
NOTES TO ACCOUNTS | |||
Note No. | Particulars |
Amount
(Rs)
|
|
(a) | Finished Goods | ||
Opening Inventory | 2,00,000 | ||
Less: Closing Inventory | 1,75,000 | 25,000 | |
25,000 |
Rs 25,000 will be shown in the Statement of Profit and Loss against Change in Inventories of Finished Goods.
Page No 1.66:
Question 10:
NOTES TO ACCOUNTS | |||
Note No. | Particulars |
Amount
(Rs)
|
|
(a) | Finished Goods | ||
Opening Inventory | 2,00,000 | ||
Less: Closing Inventory | 1,75,000 | 25,000 | |
25,000 |
Rs 25,000 will be shown in the Statement of Profit and Loss against Change in Inventories of Finished Goods.
Answer:
NOTES TO ACCOUNTS | |||
Note No. | Particulars |
Amount
(Rs)
|
|
(a) | Finished Goods | ||
Opening Inventory | 2,50,000 | ||
Less: Closing Inventory | 2,00,000 | 50,000 | |
50,000 |
Rs 50,000 will be shown in the Statement of Profit and Loss against Change in Inventories of Finished Goods.
Page No 1.66:
Question 11:
NOTES TO ACCOUNTS | |||
Note No. | Particulars |
Amount
(Rs)
|
|
(a) | Finished Goods | ||
Opening Inventory | 2,50,000 | ||
Less: Closing Inventory | 2,00,000 | 50,000 | |
50,000 |
Rs 50,000 will be shown in the Statement of Profit and Loss against Change in Inventories of Finished Goods.
Answer:
NOTES TO ACCOUNTS | |||
Note No. | Particulars | Amount (Rs) |
|
(a) | Work-in-Progress | ||
Opening Inventory | 1,00,000 | ||
Less: Closing Inventory | 1,15,000 | (15,000) | |
(15,000) |
Page No 1.67:
Question 12:
NOTES TO ACCOUNTS | |||
Note No. | Particulars | Amount (Rs) |
|
(a) | Work-in-Progress | ||
Opening Inventory | 1,00,000 | ||
Less: Closing Inventory | 1,15,000 | (15,000) | |
(15,000) |
Answer:
NOTES TO ACCOUNTS | |||
Note No. | Particulars | Amount (Rs) |
|
(a) | Work-in-Progress | ||
Opening Inventory | 1,50,000 | ||
Less: Closing Inventory | 1,45,000 | 5,000 | |
5,000 |
Page No 1.67:
Question 13:
NOTES TO ACCOUNTS | |||
Note No. | Particulars | Amount (Rs) |
|
(a) | Work-in-Progress | ||
Opening Inventory | 1,50,000 | ||
Less: Closing Inventory | 1,45,000 | 5,000 | |
5,000 |
Answer:
NOTES TO ACCOUNTS | |||
Note No. | Particulars | Amount (Rs) |
|
(a) | Stock-in-Trade | ||
Opening Inventory | 5,00,000 | ||
Less: Closing Inventory | 4,50,000 | 50,000 | |
50,000 |
Page No 1.67:
Question 14:
NOTES TO ACCOUNTS | |||
Note No. | Particulars | Amount (Rs) |
|
(a) | Stock-in-Trade | ||
Opening Inventory | 5,00,000 | ||
Less: Closing Inventory | 4,50,000 | 50,000 | |
50,000 |
Answer:
NOTES TO ACCOUNTS | |||
Note No. | Particulars | Amount (Rs) |
|
(a) | Stock-in-Trade | ||
Opening Inventory | 5,00,000 | ||
Less: Closing Inventory | 4,00,000 | 1,00,000 | |
1,00,000 |
Rs 1,00,000 will be shown in the Statement of Profit and Loss against Change in Inventories of Stock-in-Trade.
Page No 1.67:
Question 15:
NOTES TO ACCOUNTS | |||
Note No. | Particulars | Amount (Rs) |
|
(a) | Stock-in-Trade | ||
Opening Inventory | 5,00,000 | ||
Less: Closing Inventory | 4,00,000 | 1,00,000 | |
1,00,000 |
Rs 1,00,000 will be shown in the Statement of Profit and Loss against Change in Inventories of Stock-in-Trade.
Answer:
NOTES TO ACCOUNTS | |||
Note No. | Particulars | Amount (Rs) |
|
Change in Inventories of Finished Goods, WIP and Stock-in-Trade | |||
(a) | Finished Goods | ||
Opening Inventory | 5,00,000 | ||
Less: Closing Inventory | 5,50,000 | (50,000) | |
(50,000) | |||
(b) | Work-in-Progress | ||
Opening Inventory | 4,50,000 | ||
Less: Closing Inventory | 4,25,000 | 25,000 | |
25,000 | |||
(c) | Stock-in-Trade | ||
Opening Inventory | 6,50,000 | ||
Less: Closing Inventory | 6,00,000 | 50,000 | |
50,000 | |||
Net Change (a+b+c) | 25,000 |
Rs 25,000 will be shown in the Statement of Profit and Loss against the Change in Inventories of Finished Goods, Work-in-Progress and Stock-in-Trade.
Page No 1.67:
Question 16:
NOTES TO ACCOUNTS | |||
Note No. | Particulars | Amount (Rs) |
|
Change in Inventories of Finished Goods, WIP and Stock-in-Trade | |||
(a) | Finished Goods | ||
Opening Inventory | 5,00,000 | ||
Less: Closing Inventory | 5,50,000 | (50,000) | |
(50,000) | |||
(b) | Work-in-Progress | ||
Opening Inventory | 4,50,000 | ||
Less: Closing Inventory | 4,25,000 | 25,000 | |
25,000 | |||
(c) | Stock-in-Trade | ||
Opening Inventory | 6,50,000 | ||
Less: Closing Inventory | 6,00,000 | 50,000 | |
50,000 | |||
Net Change (a+b+c) | 25,000 |
Rs 25,000 will be shown in the Statement of Profit and Loss against the Change in Inventories of Finished Goods, Work-in-Progress and Stock-in-Trade.
Answer:
NOTES TO ACCOUNTS | |||
Note No. | Particulars | Amount (Rs) |
|
Change in Inventories of Finished Goods, WIP and Stock-in-Trade | |||
(a) | Finished Goods | ||
Opening Inventory | 15,00,000 | ||
Less: Closing Inventory | 12,50,000 | 2,50,000 | |
2,50,000 | |||
(b) | Work-in-Progress | ||
Opening Inventory | 10,50,000 | ||
Less: Closing Inventory | 9,25,000 | 1,25,000 | |
1,25,000 | |||
(c) | Stock-in-Trade | ||
Opening Inventory | 9,50,000 | ||
Less: Closing Inventory | 8,00,000 | 1,50,000 | |
1,50,000 | |||
Net Change (a+b+c) | 5,25,000 |
Rs 5,25,000 will be shown in the Statement of Profit and Loss against the Change in Inventories of Finished Goods, Work-in-Progress and Stock-in-Trade.
Page No 1.67:
Question 17:
NOTES TO ACCOUNTS | |||
Note No. | Particulars | Amount (Rs) |
|
Change in Inventories of Finished Goods, WIP and Stock-in-Trade | |||
(a) | Finished Goods | ||
Opening Inventory | 15,00,000 | ||
Less: Closing Inventory | 12,50,000 | 2,50,000 | |
2,50,000 | |||
(b) | Work-in-Progress | ||
Opening Inventory | 10,50,000 | ||
Less: Closing Inventory | 9,25,000 | 1,25,000 | |
1,25,000 | |||
(c) | Stock-in-Trade | ||
Opening Inventory | 9,50,000 | ||
Less: Closing Inventory | 8,00,000 | 1,50,000 | |
1,50,000 | |||
Net Change (a+b+c) | 5,25,000 |
Rs 5,25,000 will be shown in the Statement of Profit and Loss against the Change in Inventories of Finished Goods, Work-in-Progress and Stock-in-Trade.
Answer:
NOTES TO ACCOUNTS | |||
Note No. | Particulars | Amount (Rs) |
|
Employees Benefit Expenses | |||
Wages | 5,40,000 | ||
Salaries | 7,20,000 | ||
Bonus | 1,05,000 | ||
Staff Welfare Expenses | 60,000 | 14,25,000 | |
Amount to be shown in the Statement of Profit and Loss | 14,25,000 |
Page No 1.67:
Question 18:
NOTES TO ACCOUNTS | |||
Note No. | Particulars | Amount (Rs) |
|
Employees Benefit Expenses | |||
Wages | 5,40,000 | ||
Salaries | 7,20,000 | ||
Bonus | 1,05,000 | ||
Staff Welfare Expenses | 60,000 | 14,25,000 | |
Amount to be shown in the Statement of Profit and Loss | 14,25,000 |
Answer:
NOTES TO ACCOUNTS | |||
Note No. | Particulars | Amount (Rs) |
|
Employees Benefit Expenses | |||
Wages | 2,70,000 | ||
Salaries | 3,60,000 | ||
Staff Welfare Expenses | 60,000 | 6,90,000 | |
Amount to be shown in the Statement of Profit and Loss | 6,90,000 |
Page No 1.67:
Question 19:
NOTES TO ACCOUNTS | |||
Note No. | Particulars | Amount (Rs) |
|
Employees Benefit Expenses | |||
Wages | 2,70,000 | ||
Salaries | 3,60,000 | ||
Staff Welfare Expenses | 60,000 | 6,90,000 | |
Amount to be shown in the Statement of Profit and Loss | 6,90,000 |
Answer:
Items that will be shown in the Notes to Accounts on Finance Costs are:
i. Interest paid on Borrowings from Prince Finance Ltd.;
ii. Interest paid on Term Loan to Bank;
iii. Interest paid on Public Deposits;
iv. Loss on Issue of Debentures written off.
The Bank charges are not shown under Finance Costs but under ‘Other Expenses’, as they are expenses for the services availed from the bank.
Page No 1.67:
Question 20:
Items that will be shown in the Notes to Accounts on Finance Costs are:
i. Interest paid on Borrowings from Prince Finance Ltd.;
ii. Interest paid on Term Loan to Bank;
iii. Interest paid on Public Deposits;
iv. Loss on Issue of Debentures written off.
The Bank charges are not shown under Finance Costs but under ‘Other Expenses’, as they are expenses for the services availed from the bank.
Answer:
NOTES TO ACCOUNTS | |||
Note No. | Particulars | Amount (Rs) |
|
Finance Costs | |||
Interest paid to bank | 75,000 | ||
Interest on Debentures | 58,000 | ||
Loss on Issue of Debentures written off | 27,500 | ||
Commitment charges | 15,000 | 1,75,500 | |
1,75,500 |
Page No 1.68:
Question 21:
NOTES TO ACCOUNTS | |||
Note No. | Particulars | Amount (Rs) |
|
Finance Costs | |||
Interest paid to bank | 75,000 | ||
Interest on Debentures | 58,000 | ||
Loss on Issue of Debentures written off | 27,500 | ||
Commitment charges | 15,000 | 1,75,500 | |
1,75,500 |
Answer:
NOTES TO ACCOUNTS | |||
Note No. | Particulars | Amount (Rs) |
|
Depreciation and Amortisation Expenses | |||
Depreciation | |||
Building | 15,500 | ||
Plant and Machinery | 25,000 | ||
Computers | 60,000 | 1,00,500 | |
Amortisation | |||
Goodwill written off | 7,500 | ||
Patents written off | 12,500 | 20,000 | |
1,20,500 | |||
Amount to be shown in the Statement of Profit and Loss | 1,20,500 |
Page No 1.68:
Question 22:
NOTES TO ACCOUNTS | |||
Note No. | Particulars | Amount (Rs) |
|
Depreciation and Amortisation Expenses | |||
Depreciation | |||
Building | 15,500 | ||
Plant and Machinery | 25,000 | ||
Computers | 60,000 | 1,00,500 | |
Amortisation | |||
Goodwill written off | 7,500 | ||
Patents written off | 12,500 | 20,000 | |
1,20,500 | |||
Amount to be shown in the Statement of Profit and Loss | 1,20,500 |
Answer:
Items that will be shown in the Notes to Accounts on ‘other expenses’ are
(ii) Postage Expenses;
(iii)Telephone and Internet Expenses;
(iv) Rent for warehouse;
(v) Carriage Inwards;
(viii) Computer Hiring charges;
(ix) Audit fee
Page No 1.68:
Question 23:
Items that will be shown in the Notes to Accounts on ‘other expenses’ are
(ii) Postage Expenses;
(iii)Telephone and Internet Expenses;
(iv) Rent for warehouse;
(v) Carriage Inwards;
(viii) Computer Hiring charges;
(ix) Audit fee
Answer:
ITEMS | MAJOR HEAD |
Sale of Goods | Revenue from Operations |
Revenue from Services rendered | Revenue from Operations |
Interest earned | Other Income |
Profit on Sale of Assets | Other Income |
Purchase of Stock-in-Trade | Purchase of Stock-in-Trade |
Salaries and Wages | Employees Benefit Expenses |
Interest paid to Bank | Finance Costs |
Carriage Outward | Other Expenses |
Page No 1.68:
Question 24:
ITEMS | MAJOR HEAD |
Sale of Goods | Revenue from Operations |
Revenue from Services rendered | Revenue from Operations |
Interest earned | Other Income |
Profit on Sale of Assets | Other Income |
Purchase of Stock-in-Trade | Purchase of Stock-in-Trade |
Salaries and Wages | Employees Benefit Expenses |
Interest paid to Bank | Finance Costs |
Carriage Outward | Other Expenses |
Answer:
ITEMS | MAJOR HEAD |
Interest on Loans Given | Revenue from Operations |
Profit on Sale of Securities | Revenue from Operations |
Loss on Sale of Fixed Assets | Other Expenses |
Interest paid on Deposits | Finance Costs |
Depreciation on Computers | Depreciation and Amortisation Expenses |
Goodwill Written off | Depreciation and Amortisation Expenses |
Commission paid for Deposit Mobilisation | Finance Costs |
Repairs Expenses | Other Expenses |
Page No 1.68:
Question 25:
ITEMS | MAJOR HEAD |
Interest on Loans Given | Revenue from Operations |
Profit on Sale of Securities | Revenue from Operations |
Loss on Sale of Fixed Assets | Other Expenses |
Interest paid on Deposits | Finance Costs |
Depreciation on Computers | Depreciation and Amortisation Expenses |
Goodwill Written off | Depreciation and Amortisation Expenses |
Commission paid for Deposit Mobilisation | Finance Costs |
Repairs Expenses | Other Expenses |
Answer:
Items | Line Items of Financial Statements |
Sales | Revenue from Operations |
Loss on Sale of Vehicle | Other Expenses |
Debentures | Long Term Borrowings |
Unamortised Loss on Issue of Debentures (to be written off within 12 months of the date of Balance Sheet) | Other Non-Current Assets |
Encashable Leave Payable at the time of Retirement | Long Term Provisions |
Tax Reserve | Reserves and Surplus |
Carriage on Purchase of Stock-in Trade | Other Expenses |
Telephone and Internet expenses | Other Expenses |
Page No 1.68:
Question 26:
Items | Line Items of Financial Statements |
Sales | Revenue from Operations |
Loss on Sale of Vehicle | Other Expenses |
Debentures | Long Term Borrowings |
Unamortised Loss on Issue of Debentures (to be written off within 12 months of the date of Balance Sheet) | Other Non-Current Assets |
Encashable Leave Payable at the time of Retirement | Long Term Provisions |
Tax Reserve | Reserves and Surplus |
Carriage on Purchase of Stock-in Trade | Other Expenses |
Telephone and Internet expenses | Other Expenses |
Answer:
Items | Line Items of Financial Statements |
Sale of Scrap | Revenue from Operations |
Profit on Sale of Vehicle | Other Income |
Deposits | Long Term Borrowings |
Loss on Issue of Debentures written off | Other Expenses |
Gratuity Payable at the time of Retirement | Long Term Provisions |
Workmen Compensation Reserve | Reserves and Surplus |
Carriage on paid on Sales | Other Expenses |
Selling and Distribution Expenses | Other Expenses |
Page No 1.69:
Question 27:
Items | Line Items of Financial Statements |
Sale of Scrap | Revenue from Operations |
Profit on Sale of Vehicle | Other Income |
Deposits | Long Term Borrowings |
Loss on Issue of Debentures written off | Other Expenses |
Gratuity Payable at the time of Retirement | Long Term Provisions |
Workmen Compensation Reserve | Reserves and Surplus |
Carriage on paid on Sales | Other Expenses |
Selling and Distribution Expenses | Other Expenses |
Answer:
The major heads in the Equities and Liabilities part of the Balance sheet are:
i. Shareholder’s Funds,
ii. Share Application Money Pending Allotment,
iii. Non- Current Liabilities and
iv. Current Liabilities
Balance Sheet
as at _______
|
||
Particulars | Note No. | Amount (Rs) |
I. Equity and Liabilities | ||
1. Shareholders’ Funds | ||
a. Share Capital | ||
b. Reserves and Surplus | ||
c. Money Received against Share Warrants | ||
2. Share Application Money Pending Allotment | ||
3. Non-Current Liabilities | ||
|
||
|
||
|
||
|
||
4. Current Liabilities | ||
|
||
|
||
|
||
|
||
Total |
Page No 1.69:
Question 28:
The major heads in the Equities and Liabilities part of the Balance sheet are:
i. Shareholder’s Funds,
ii. Share Application Money Pending Allotment,
iii. Non- Current Liabilities and
iv. Current Liabilities
Balance Sheet
as at _______
|
||
Particulars | Note No. | Amount (Rs) |
I. Equity and Liabilities | ||
1. Shareholders’ Funds | ||
a. Share Capital | ||
b. Reserves and Surplus | ||
c. Money Received against Share Warrants | ||
2. Share Application Money Pending Allotment | ||
3. Non-Current Liabilities | ||
|
||
|
||
|
||
|
||
4. Current Liabilities | ||
|
||
|
||
|
||
|
||
Total |
Answer:
Items | Major Head |
Share Capital | Shareholder’s Funds |
Money received against share warrants | Shareholder’s Funds |
Page No 1.69:
Question 29:
Items | Major Head |
Share Capital | Shareholder’s Funds |
Money received against share warrants | Shareholder’s Funds |
Answer:
Items shown under Reserves and Surplus are:
i. Capital Reserve,
ii. Capital Redemption Reserve,
iii. Securities Premium Reserve,
iv. Debenture Redemption Reserve,
v. Revaluation Reserve etc.
Page No 1.69:
Question 30:
Items shown under Reserves and Surplus are:
i. Capital Reserve,
ii. Capital Redemption Reserve,
iii. Securities Premium Reserve,
iv. Debenture Redemption Reserve,
v. Revaluation Reserve etc.
Answer:
The appropriation will be shown in the following manner:
Extract of Balance Sheet
as at …..
|
||
Particulars | Note No. | Amount (Rs) |
I. Equity and Liabilities | ||
1. Shareholders’ Funds | ||
a. Share Capital | ||
b. Reserves and Surplus | 1 | 1,50,000 |
2. Share Application Money Pending Allotment | ||
3. Non-Current Liabilities | ||
4. Current Liabilities | ||
|
4 | 25,000 |
Total |
NOTES TO ACCOUNTS | |||
Note No. | Particulars | Amount (Rs) |
|
1 | Reserves and Surplus | ||
(a) Surplus, i.e. Balance in Statement of Profit and Loss | 1,00,000 | ||
Add. Profit for the year | 75,000 | ||
Less: Appropriations | |||
Transfer to Debenture Redemption Reserve | (15,000) | ||
Proposed Dividend | (25,000) | 1,35,000 | |
(b) Debenture Redemption Reserve | |||
Transferred from Surplus i.e. Balance in Statement of Profit and Loss | 15,000 | ||
Total (a+b) [ to be Shown in Balance Sheet against Reserves and Surplus] | 1,50,000 | ||
4 | Short-term Provisions | ||
Proposed Dividend | 25,000 | ||
Page No 1.69:
Question 31:
The appropriation will be shown in the following manner:
Extract of Balance Sheet
as at …..
|
||
Particulars | Note No. | Amount (Rs) |
I. Equity and Liabilities | ||
1. Shareholders’ Funds | ||
a. Share Capital | ||
b. Reserves and Surplus | 1 | 1,50,000 |
2. Share Application Money Pending Allotment | ||
3. Non-Current Liabilities | ||
4. Current Liabilities | ||
|
4 | 25,000 |
Total |
NOTES TO ACCOUNTS | |||
Note No. | Particulars | Amount (Rs) |
|
1 | Reserves and Surplus | ||
(a) Surplus, i.e. Balance in Statement of Profit and Loss | 1,00,000 | ||
Add. Profit for the year | 75,000 | ||
Less: Appropriations | |||
Transfer to Debenture Redemption Reserve | (15,000) | ||
Proposed Dividend | (25,000) | 1,35,000 | |
(b) Debenture Redemption Reserve | |||
Transferred from Surplus i.e. Balance in Statement of Profit and Loss | 15,000 | ||
Total (a+b) [ to be Shown in Balance Sheet against Reserves and Surplus] | 1,50,000 | ||
4 | Short-term Provisions | ||
Proposed Dividend | 25,000 | ||
Answer:
Items | Sub-head |
Long-term Borrowings | Non-Current Liabilities |
Deferred Tax Liabilities (Net) | Non-Current Liabilities |
Long-Term Provisions | Non-Current Liabilities |
Page No 1.69:
Question 32:
Items | Sub-head |
Long-term Borrowings | Non-Current Liabilities |
Deferred Tax Liabilities (Net) | Non-Current Liabilities |
Long-Term Provisions | Non-Current Liabilities |
Answer:
Items shown under Long-term Borrowings are:
a. Debentures,
b. Bonds,
c. Terms Loans (both from Banks and from others),
d. Public Deposits,
e. Other Loans and Advances.
Page No 1.69:
Question 33:
Items shown under Long-term Borrowings are:
a. Debentures,
b. Bonds,
c. Terms Loans (both from Banks and from others),
d. Public Deposits,
e. Other Loans and Advances.
Answer:
Items | Head | Disclosure |
Calls-in-Arrears | Shareholder’s Funds | It is shown as a deduction from Subscribed Capital shown as ‘Subscribed but not fully paid’ under Shareholder’s Funds |
Share Application Money Pending Allotment | Share Application Money Pending Allotment | It is shown as a separate line item |
Unpaid Dividend | Current Liabilities | It is shown as ‘Other Current Liability’ under Current Liabilities |
Dividend not paid on Cumulative Preference Shares | Contingent Liabilities and Commitments | It is shown as Contingent Liabilities and Commitments in Notes to Accounts |
Page No 1.69:
Question 34:
Items | Head | Disclosure |
Calls-in-Arrears | Shareholder’s Funds | It is shown as a deduction from Subscribed Capital shown as ‘Subscribed but not fully paid’ under Shareholder’s Funds |
Share Application Money Pending Allotment | Share Application Money Pending Allotment | It is shown as a separate line item |
Unpaid Dividend | Current Liabilities | It is shown as ‘Other Current Liability’ under Current Liabilities |
Dividend not paid on Cumulative Preference Shares | Contingent Liabilities and Commitments | It is shown as Contingent Liabilities and Commitments in Notes to Accounts |
Answer:
Items | Main head | Sub-head |
Bonds | Non-Current Liabilities | Long Term Borrowings |
Debentures | Non-Current Liabilities | Long Term Borrowings |
Deposits | Non-Current Liabilities | Long Term Borrowings |
Capital redemption Reserve | Shareholder’s Funds | Reserves and Surplus |
Share Forfeiture Account | Shareholder’s Funds | Subscribed Capital under Share Capital |
Sundry Creditors | Current Liabilities | Trade Payables |
Interest Accrued but not due on Debentures | Current Liabilities | Other Current Liabilities |
Page No 1.70:
Question 35:
Items | Main head | Sub-head |
Bonds | Non-Current Liabilities | Long Term Borrowings |
Debentures | Non-Current Liabilities | Long Term Borrowings |
Deposits | Non-Current Liabilities | Long Term Borrowings |
Capital redemption Reserve | Shareholder’s Funds | Reserves and Surplus |
Share Forfeiture Account | Shareholder’s Funds | Subscribed Capital under Share Capital |
Sundry Creditors | Current Liabilities | Trade Payables |
Interest Accrued but not due on Debentures | Current Liabilities | Other Current Liabilities |
Answer:
Major head | Items |
Reserves and Surplus | Capital Reserve, Revaluation Reserve |
Long-term Borrowings | Debentures, Term Loans from Bank and Others |
Short-term Borrowings | Cash credit from bank, Loans repayable on demand |
Other Current Liabilities | Income received in advance, Unpaid Dividends |
Page No 1.70:
Question 36:
Major head | Items |
Reserves and Surplus | Capital Reserve, Revaluation Reserve |
Long-term Borrowings | Debentures, Term Loans from Bank and Others |
Short-term Borrowings | Cash credit from bank, Loans repayable on demand |
Other Current Liabilities | Income received in advance, Unpaid Dividends |
Answer:
There are two major heads in Assets part of the Balance Sheet as per Schedule VI
i. Non-Current Assets, and
ii. Current Assets
Page No 1.70:
Question 37:
There are two major heads in Assets part of the Balance Sheet as per Schedule VI
i. Non-Current Assets, and
ii. Current Assets
Answer:
Items | Main head | Sub-head |
Intangible Assets | Non-Current Assets | Fixed Assets |
Intangible Assets under development | Non-Current Assets | Fixed Assets |
Investments (more than 12 months) | Non-Current Assets | Non-Current Investments |
Deferred Tax Assets (Net) | Non-Current Assets | Deferred Tax Assets (Net) |
Stores and Spares | Current Assets | Inventories |
Loose Tools | Current Assets | Inventories |
Page No 1.70:
Question 38:
Items | Main head | Sub-head |
Intangible Assets | Non-Current Assets | Fixed Assets |
Intangible Assets under development | Non-Current Assets | Fixed Assets |
Investments (more than 12 months) | Non-Current Assets | Non-Current Investments |
Deferred Tax Assets (Net) | Non-Current Assets | Deferred Tax Assets (Net) |
Stores and Spares | Current Assets | Inventories |
Loose Tools | Current Assets | Inventories |
Answer:
Items | Main head | Sub-head |
Loose Tools | Current Assets | Inventories |
Bills Receivable | Current Assets | Trade Receivables |
Sundry Debtors | Current Assets | Trade Receivables |
Advance Recoverable in Cash | Current Assets | Short-term Loans and Advances |
Page No 1.70:
Question 39:
Items | Main head | Sub-head |
Loose Tools | Current Assets | Inventories |
Bills Receivable | Current Assets | Trade Receivables |
Sundry Debtors | Current Assets | Trade Receivables |
Advance Recoverable in Cash | Current Assets | Short-term Loans and Advances |
Answer:
Items | Main head | Sub-head |
Sundry Debtors | Current Assets | Trade Receivables |
Patents and Trade Marks | Non-Current Assets | Fixed Assets (Intangible Assets) |
Shares in Quoted Companies | Non-Current Assets | Non-Current Investments |
Bills Receivable | Current Assets | Trade Receivables |
Advance Recoverable in Cash | Current Assets | Short-term Loans and Advances |
Prepaid Insurance | Current Assets | Other Current Assets |
Work-in-Progress | Non-Current Assets | Fixed Assets (Capital Work-in-progress) |
Page No 1.70:
Question 40:
Items | Main head | Sub-head |
Sundry Debtors | Current Assets | Trade Receivables |
Patents and Trade Marks | Non-Current Assets | Fixed Assets (Intangible Assets) |
Shares in Quoted Companies | Non-Current Assets | Non-Current Investments |
Bills Receivable | Current Assets | Trade Receivables |
Advance Recoverable in Cash | Current Assets | Short-term Loans and Advances |
Prepaid Insurance | Current Assets | Other Current Assets |
Work-in-Progress | Non-Current Assets | Fixed Assets (Capital Work-in-progress) |
Answer:
ITEMS | MAJOR HEAD | SUB-HEAD |
Debentures | Non-Current Liabilities | Long-Term Borrowings |
Interest accrued on Investments | Current Assets | Other Current Assets |
Goodwill | Non-current Assets | Fixed Assets (Intangible Assets) |
Bill of Exchange | Current Assets | Trade Receivables |
Page No 1.71:
Question 41:
ITEMS | MAJOR HEAD | SUB-HEAD |
Debentures | Non-Current Liabilities | Long-Term Borrowings |
Interest accrued on Investments | Current Assets | Other Current Assets |
Goodwill | Non-current Assets | Fixed Assets (Intangible Assets) |
Bill of Exchange | Current Assets | Trade Receivables |
Answer:
ITEMS | HEAD | SUB-HEAD |
Unamortised Loss on Issue of Debentures (To be written off after 12 months from date of Balance sheet) | Non-Current Assets | Other Non-Current Assets |
10% Debentures | Non Current Liabilities | Long-term Borrowings |
Stock-in-Trade | Current Assets | Inventories |
Cash at Bank | Current Assets | Cash and Cash equivalents |
Bills Receivable | Current Assets | Trade Receivables |
Goodwill | Non-Current Assets | Fixed Assets (Intangible Assets) |
Loose Tools | Current Assets | Inventories |
Truck | Non-Current Assets | Fixed Assets (Tangible Assets) |
Provision for Tax | Current Liabilities | Short term Provisions |
Sundry Creditors | Current Liabilities | Trade Payables |
Page No 1.71:
Question 42:
ITEMS | HEAD | SUB-HEAD |
Unamortised Loss on Issue of Debentures (To be written off after 12 months from date of Balance sheet) | Non-Current Assets | Other Non-Current Assets |
10% Debentures | Non Current Liabilities | Long-term Borrowings |
Stock-in-Trade | Current Assets | Inventories |
Cash at Bank | Current Assets | Cash and Cash equivalents |
Bills Receivable | Current Assets | Trade Receivables |
Goodwill | Non-Current Assets | Fixed Assets (Intangible Assets) |
Loose Tools | Current Assets | Inventories |
Truck | Non-Current Assets | Fixed Assets (Tangible Assets) |
Provision for Tax | Current Liabilities | Short term Provisions |
Sundry Creditors | Current Liabilities | Trade Payables |
Answer:
S. No. |
Items |
Main Head |
Sub-Head |
1 |
Bank Balance |
Current Assets |
Cash and Cash Equivalents |
2 |
Investments (Long-term) |
Non-Current Assets |
Non-Current Investments |
3 |
Outstanding Salary |
Current Liabilities |
Other Current Liabilities |
4 |
Authorised Capital |
Share Capital |
– |
5 |
Bills Payable |
Current Liabilities |
Trade Payables |
6 |
Unclaimed Dividends |
Current Liabilities |
Other Current Liabilities |
7 |
Share Option Outstanding Account |
Shareholders’ Funds |
Reserves and Surplus |
8 |
General Reserve |
Shareholders’ Funds |
Reserves and Surplus |
9 |
Subsidy Reserve |
Shareholders’ Funds |
Reserves and Surplus |
Page No 1.71:
Question 43:
S. No. |
Items |
Main Head |
Sub-Head |
1 |
Bank Balance |
Current Assets |
Cash and Cash Equivalents |
2 |
Investments (Long-term) |
Non-Current Assets |
Non-Current Investments |
3 |
Outstanding Salary |
Current Liabilities |
Other Current Liabilities |
4 |
Authorised Capital |
Share Capital |
– |
5 |
Bills Payable |
Current Liabilities |
Trade Payables |
6 |
Unclaimed Dividends |
Current Liabilities |
Other Current Liabilities |
7 |
Share Option Outstanding Account |
Shareholders’ Funds |
Reserves and Surplus |
8 |
General Reserve |
Shareholders’ Funds |
Reserves and Surplus |
9 |
Subsidy Reserve |
Shareholders’ Funds |
Reserves and Surplus |
Answer:
S. No. |
Items |
Main Head |
Sub-Head |
1 |
Calls-in-Arrears |
Share Capital |
Subscribed Share capital |
2 |
Commission Received in Advance |
Current Liabilities |
Other Current Liabilities |
3 |
Debentures |
Non-Current Liabilities |
Long-term Borrowings |
4 |
Stores and Spare Parts |
Current Assets |
Inventories |
5 |
Land and Building |
Non-Current Assets |
Tangible Assets |
6 |
Forfeited Shares Account |
Share Capital |
Subscribed Share Capital |
7 |
Government Securities |
Non-Current Assets |
Non-Current Investments |
8 |
Uncalled Liability on partly paid shares |
Commitments in Notes to Accounts |
Commitments in Notes to Accounts |
Page No 1.71:
Question 44:
S. No. |
Items |
Main Head |
Sub-Head |
1 |
Calls-in-Arrears |
Share Capital |
Subscribed Share capital |
2 |
Commission Received in Advance |
Current Liabilities |
Other Current Liabilities |
3 |
Debentures |
Non-Current Liabilities |
Long-term Borrowings |
4 |
Stores and Spare Parts |
Current Assets |
Inventories |
5 |
Land and Building |
Non-Current Assets |
Tangible Assets |
6 |
Forfeited Shares Account |
Share Capital |
Subscribed Share Capital |
7 |
Government Securities |
Non-Current Assets |
Non-Current Investments |
8 |
Uncalled Liability on partly paid shares |
Commitments in Notes to Accounts |
Commitments in Notes to Accounts |
Answer:
S. No. |
Items |
Main Head |
Sub-Head |
1 |
Public Deposits |
Non-Current Liabilities |
Long-term Borrowings |
2 |
Office Furniture |
Non-Current Assets |
Tangible Assets |
3 |
Prepaid Rent |
Current Assets |
Other Current Assets |
4 |
Outstanding Salaries |
Current Liabilities |
Other Current Liabilities |
5 |
Computer Software |
Non-Current Assets |
Intangible Assets |
6 |
Interest Accrued on Investment |
Current Assets |
Other Current Assets |
7 |
Bills Discounted but not Matured |
It is shown as a Contingent Liability in the Notes to Accounts |
It is shown as a Contingent Liability in the Notes to Accounts |
8 |
Live Stock |
Non-Current Assets |
Tangible Assets |
Page No 1.72:
Question 45:
S. No. |
Items |
Main Head |
Sub-Head |
1 |
Public Deposits |
Non-Current Liabilities |
Long-term Borrowings |
2 |
Office Furniture |
Non-Current Assets |
Tangible Assets |
3 |
Prepaid Rent |
Current Assets |
Other Current Assets |
4 |
Outstanding Salaries |
Current Liabilities |
Other Current Liabilities |
5 |
Computer Software |
Non-Current Assets |
Intangible Assets |
6 |
Interest Accrued on Investment |
Current Assets |
Other Current Assets |
7 |
Bills Discounted but not Matured |
It is shown as a Contingent Liability in the Notes to Accounts |
It is shown as a Contingent Liability in the Notes to Accounts |
8 |
Live Stock |
Non-Current Assets |
Tangible Assets |
Answer:
ITEMS | MAJOR HEAD | SUB-HEAD |
Surplus, i.e. Balance in Statement of Profit and Loss (Dr.) | Shareholder’s Funds | Reserves and Surplus |
Interest accrued and due on debentures | Current Liabilities | Other Current Liabilities |
Computer Software under development | Non-current Assets | Fixed Assets (Intangible Assets) |
Interest accrued on Investments | Current Assets | Other Current Assets |
Page No 1.72:
Question 46:
ITEMS | MAJOR HEAD | SUB-HEAD |
Surplus, i.e. Balance in Statement of Profit and Loss (Dr.) | Shareholder’s Funds | Reserves and Surplus |
Interest accrued and due on debentures | Current Liabilities | Other Current Liabilities |
Computer Software under development | Non-current Assets | Fixed Assets (Intangible Assets) |
Interest accrued on Investments | Current Assets | Other Current Assets |
Answer:
Extract of Balance Sheet
as at March 31, 2014
|
|||
Particulars | Note No. | Amount (Rs) |
|
2. Non-Current Liabilities | |||
Long-term Borrowings | |||
11% Loan from SBI | 20,00,000 | ||
7,500, 10% Debentures of Rs 100 each | 7,50,000 | 27,50,000 | |
3. Current Liabilities | |||
Other Current Liabilities | |||
Current Maturity of Long-term Debts (2,500 Debentures of Rs 100 each maturing within 12 months) | 2,50,000 | ||
Interest accrued and due on Debentures | 1,00,000 | ||
Interest accrued and due on Loan | 2,20,000 | 5,70,000 | |
Total | 33,20,000 |
Page No 1.72:
Question 47:
Extract of Balance Sheet
as at March 31, 2014
|
|||
Particulars | Note No. | Amount (Rs) |
|
2. Non-Current Liabilities | |||
Long-term Borrowings | |||
11% Loan from SBI | 20,00,000 | ||
7,500, 10% Debentures of Rs 100 each | 7,50,000 | 27,50,000 | |
3. Current Liabilities | |||
Other Current Liabilities | |||
Current Maturity of Long-term Debts (2,500 Debentures of Rs 100 each maturing within 12 months) | 2,50,000 | ||
Interest accrued and due on Debentures | 1,00,000 | ||
Interest accrued and due on Loan | 2,20,000 | 5,70,000 | |
Total | 33,20,000 |
Answer:
Balance Sheet as at … |
||
Particulars |
Note No. |
Amount (Rs) |
I. Equity and Liabilities |
|
|
1. Shareholders’ Funds |
|
– |
2. Non-Current Liabilities |
|
|
Long-term Borrowings |
1 |
1,90,000 |
3. Current Liabilities |
|
|
Short-term Provisions |
2 |
6,000 |
Total |
|
|
|
|
|
II Assets |
|
|
1. Non-Current Assets |
|
|
Intangible (Fixed Assets) |
3 |
20,000 |
2. Current Assets |
|
|
a. Inventories |
4 |
40,000 |
Total |
|
|
|
|
|
NOTES TO ACCOUNTS |
||
Note No. |
Particulars |
Amount (Rs) |
1 |
Long-term Borrowings |
|
|
10% Debentures |
1,90,000 |
|
|
|
2 |
Short-term Provisions |
|
|
Provision for Tax |
6,000 |
|
|
|
3 |
Intangible (Fixed Assets) |
|
|
Goodwill |
20,000 |
|
|
|
4 |
Inventories |
|
|
Stock-in-Trade |
40,000 |
|
|
|
Page No 1.72:
Question 48:
Balance Sheet as at … |
||
Particulars |
Note No. |
Amount (Rs) |
I. Equity and Liabilities |
|
|
1. Shareholders’ Funds |
|
– |
2. Non-Current Liabilities |
|
|
Long-term Borrowings |
1 |
1,90,000 |
3. Current Liabilities |
|
|
Short-term Provisions |
2 |
6,000 |
Total |
|
|
|
|
|
II Assets |
|
|
1. Non-Current Assets |
|
|
Intangible (Fixed Assets) |
3 |
20,000 |
2. Current Assets |
|
|
a. Inventories |
4 |
40,000 |
Total |
|
|
|
|
|
NOTES TO ACCOUNTS |
||
Note No. |
Particulars |
Amount (Rs) |
1 |
Long-term Borrowings |
|
|
10% Debentures |
1,90,000 |
|
|
|
2 |
Short-term Provisions |
|
|
Provision for Tax |
6,000 |
|
|
|
3 |
Intangible (Fixed Assets) |
|
|
Goodwill |
20,000 |
|
|
|
4 |
Inventories |
|
|
Stock-in-Trade |
40,000 |
|
|
|
Answer:
Balance Sheet as at March 31, 2014 |
||
Particulars |
Note No. |
Amount (Rs) |
I Equity and Liabilities |
|
|
1. Shareholders’ Funds |
|
|
a. Share Capital |
1 |
5,000 |
b. Reserves and Surplus |
2 |
4,200 |
2. Non-Current Liabilities |
|
|
Long-term Borrowings |
3 |
3,000 |
3. Current Liabilities |
|
|
Other Current Liabilities |
|
2,500 |
Total |
|
14,700 |
|
|
|
II Assets |
|
|
1. Non-Current Assets |
|
|
Tangible (Fixed Assets) |
4 |
8,300 |
2. Current Assets |
|
|
Other Current Assets |
|
6,400 |
Total |
|
14,700 |
|
|
|
NOTES TO ACCOUNTS |
|||
Note No. |
Particulars |
Amount (Rs) |
|
1 |
Share Capital |
|
|
|
Share Capital |
5,000 |
|
|
|
|
|
2 |
Reserves and Surplus |
|
|
|
General Reserve |
3,000 |
|
|
Balance in Statement of Profit and Loss (Credit) |
1,200 |
|
|
|
4,200 |
|
|
|
|
|
3 |
Long-term Borrowings |
|
|
|
8% Debentures |
3,000 |
|
|
|
|
|
4 |
Tangible (Fixed Assets) |
|
|
|
Fixed Assets (Cost) |
9,000 |
|
|
Depreciation |
(700) |
8,300 |
|
|
|
Page No 1.73:
Question 49:
Balance Sheet as at March 31, 2014 |
||
Particulars |
Note No. |
Amount (Rs) |
I Equity and Liabilities |
|
|
1. Shareholders’ Funds |
|
|
a. Share Capital |
1 |
5,000 |
b. Reserves and Surplus |
2 |
4,200 |
2. Non-Current Liabilities |
|
|
Long-term Borrowings |
3 |
3,000 |
3. Current Liabilities |
|
|
Other Current Liabilities |
|
2,500 |
Total |
|
14,700 |
|
|
|
II Assets |
|
|
1. Non-Current Assets |
|
|
Tangible (Fixed Assets) |
4 |
8,300 |
2. Current Assets |
|
|
Other Current Assets |
|
6,400 |
Total |
|
14,700 |
|
|
|
NOTES TO ACCOUNTS |
|||
Note No. |
Particulars |
Amount (Rs) |
|
1 |
Share Capital |
|
|
|
Share Capital |
5,000 |
|
|
|
|
|
2 |
Reserves and Surplus |
|
|
|
General Reserve |
3,000 |
|
|
Balance in Statement of Profit and Loss (Credit) |
1,200 |
|
|
|
4,200 |
|
|
|
|
|
3 |
Long-term Borrowings |
|
|
|
8% Debentures |
3,000 |
|
|
|
|
|
4 |
Tangible (Fixed Assets) |
|
|
|
Fixed Assets (Cost) |
9,000 |
|
|
Depreciation |
(700) |
8,300 |
|
|
|
Answer:
Balance Sheet as at March 31, 2014 |
||
Particulars |
Note No. |
Amount (Rs in ‘000) |
I. Equity and Liabilities |
|
|
1. Shareholders’ Funds |
|
|
a. Share Capital |
|
800 |
b. Reserves and Surplus |
|
180 |
2. Non-Current Liabilities |
|
|
Long-term Borrowings |
|
1,000 |
3. Current Liabilities |
|
|
Trade Payables |
|
60 |
Total |
|
2,040 |
|
|
|
II Assets |
|
|
1. Non-Current Assets |
|
|
Tangible (Fixed Assets) |
|
1,600 |
2. Current Assets |
|
|
Inventories |
|
40 |
Trade Receivables |
|
160 |
Cash and Cash Equivalents |
|
240 |
Total |
|
2,040 |
|
|
|
Page No 1.73:
Question 50:
Balance Sheet as at March 31, 2014 |
||
Particulars |
Note No. |
Amount (Rs in ‘000) |
I. Equity and Liabilities |
|
|
1. Shareholders’ Funds |
|
|
a. Share Capital |
|
800 |
b. Reserves and Surplus |
|
180 |
2. Non-Current Liabilities |
|
|
Long-term Borrowings |
|
1,000 |
3. Current Liabilities |
|
|
Trade Payables |
|
60 |
Total |
|
2,040 |
|
|
|
II Assets |
|
|
1. Non-Current Assets |
|
|
Tangible (Fixed Assets) |
|
1,600 |
2. Current Assets |
|
|
Inventories |
|
40 |
Trade Receivables |
|
160 |
Cash and Cash Equivalents |
|
240 |
Total |
|
2,040 |
|
|
|
Answer:
Balance Sheet as at March 31, 2014 |
||
Particulars |
Note No. |
Amount (Rs) |
I. Equity and Liabilities |
|
|
1. Shareholders’ Funds |
|
|
a. Share Capital |
1 |
30,00,000 |
b. Reserves and Surplus |
2 |
4,00,000 |
2. Non-Current Liabilities |
|
|
a. Long-term Borrowings |
3 |
6,00,000 |
3. Current Liabilities |
|
|
a. Other Current Liabilities |
4 |
8,00,000 |
b. Short-term Provisions |
5 |
2,00,000 |
Total |
|
50,00,000 |
|
|
|
II Assets |
|
|
1. Non-Current Assets |
|
|
a. Fixed Assets |
|
|
i) Tangible Assets |
6 |
30,00,000 |
b. Non-Current Investments |
7 |
4,00,000 |
2. Current Assets |
|
|
a. Inventories |
8 |
6,00,000 |
b. Trade Receivables |
9 |
8,00,000 |
c. Cash and Cash Equivalents |
10 |
1,50,000 |
d. Short-term Loans and Advances |
11 |
50,000 |
Total |
|
50,00,000 |
|
|
|
NOTES TO ACCOUNTS |
|||
Note No. |
Particulars |
Amount (Rs) |
|
1 |
Share Capital |
|
|
|
Equity Share Capital |
20,00,000 |
|
|
12% Preference Share Capital |
10,00,000 |
|
|
|
30,00,000 |
|
2 |
Reserves and Surplus |
|
|
|
Workmen Compensation Reserve |
1,00,000 |
|
|
Balance in Statement of Profit and Loss (Credit) |
3,00,000 |
|
|
|
4,00,000 |
|
|
|
|
|
3 |
Long-term Borrowings |
|
|
|
12% Debentures |
6,00,000 |
|
|
|
|
|
4 |
Other Current Liabilities |
|
|
|
Current Liabilities |
8,00,000 |
|
|
|
|
|
5 |
Short-term Provisions |
|
|
|
Provision for Taxation |
2,00,000 |
|
|
|
|
|
6 |
Tangible Assets |
|
|
|
Fixed Assets (Cost) |
46,60,000 |
|
|
Depreciation |
(16,60,000) |
30,00,000 |
|
|
|
|
7 |
Non-Current Investments |
|
|
|
Investments |
4,00,000 |
|
|
|
|
|
8 |
Inventories |
|
|
|
Stock |
6,00,000 |
|
|
|
|
|
9 |
Trade Receivables |
|
|
|
Sundry Debtors |
8,00,000 |
|
|
|
|
|
10 |
Cash and Cash Equivalents |
|
|
|
Cash |
1,50,000 |
|
|
|
|
|
11 |
Short-term Loans and Advances |
|
|
|
Loans and Advances |
50,000 |
|
|
|
|
Page No 1.73:
Question 51:
Balance Sheet as at March 31, 2014 |
||
Particulars |
Note No. |
Amount (Rs) |
I. Equity and Liabilities |
|
|
1. Shareholders’ Funds |
|
|
a. Share Capital |
1 |
30,00,000 |
b. Reserves and Surplus |
2 |
4,00,000 |
2. Non-Current Liabilities |
|
|
a. Long-term Borrowings |
3 |
6,00,000 |
3. Current Liabilities |
|
|
a. Other Current Liabilities |
4 |
8,00,000 |
b. Short-term Provisions |
5 |
2,00,000 |
Total |
|
50,00,000 |
|
|
|
II Assets |
|
|
1. Non-Current Assets |
|
|
a. Fixed Assets |
|
|
i) Tangible Assets |
6 |
30,00,000 |
b. Non-Current Investments |
7 |
4,00,000 |
2. Current Assets |
|
|
a. Inventories |
8 |
6,00,000 |
b. Trade Receivables |
9 |
8,00,000 |
c. Cash and Cash Equivalents |
10 |
1,50,000 |
d. Short-term Loans and Advances |
11 |
50,000 |
Total |
|
50,00,000 |
|
|
|
NOTES TO ACCOUNTS |
|||
Note No. |
Particulars |
Amount (Rs) |
|
1 |
Share Capital |
|
|
|
Equity Share Capital |
20,00,000 |
|
|
12% Preference Share Capital |
10,00,000 |
|
|
|
30,00,000 |
|
2 |
Reserves and Surplus |
|
|
|
Workmen Compensation Reserve |
1,00,000 |
|
|
Balance in Statement of Profit and Loss (Credit) |
3,00,000 |
|
|
|
4,00,000 |
|
|
|
|
|
3 |
Long-term Borrowings |
|
|
|
12% Debentures |
6,00,000 |
|
|
|
|
|
4 |
Other Current Liabilities |
|
|
|
Current Liabilities |
8,00,000 |
|
|
|
|
|
5 |
Short-term Provisions |
|
|
|
Provision for Taxation |
2,00,000 |
|
|
|
|
|
6 |
Tangible Assets |
|
|
|
Fixed Assets (Cost) |
46,60,000 |
|
|
Depreciation |
(16,60,000) |
30,00,000 |
|
|
|
|
7 |
Non-Current Investments |
|
|
|
Investments |
4,00,000 |
|
|
|
|
|
8 |
Inventories |
|
|
|
Stock |
6,00,000 |
|
|
|
|
|
9 |
Trade Receivables |
|
|
|
Sundry Debtors |
8,00,000 |
|
|
|
|
|
10 |
Cash and Cash Equivalents |
|
|
|
Cash |
1,50,000 |
|
|
|
|
|
11 |
Short-term Loans and Advances |
|
|
|
Loans and Advances |
50,000 |
|
|
|
|
Answer:
Balance Sheet as at March 31, 2014 |
||
Particulars |
Note No. |
Amount (Rs) |
I Equity and Liabilities |
|
|
1. Shareholders’ Funds |
|
|
a. Share Capital |
1 |
10,00,000 |
b. Reserves and Surplus |
2 |
1,95,000 |
2. Non-Current Liabilities |
|
|
Long-term Borrowings |
3 |
3,00,000 |
3. Current Liabilities |
|
|
a. Short-term Provisions |
4 |
1,55,000 |
b. Trade Payables |
5 |
1,00,000 |
Total |
|
17,50,000 |
|
|
|
II. Assets |
|
|
1. Non-Current Assets |
|
|
a. Fixed Assets |
|
|
i) Tangible Assets |
6 |
10,00,000 |
ii) Intangible Assets |
7 |
2,00,000 |
b. Non-Current Investments |
8 |
2,00,000 |
2. Current Assets |
|
|
a. Inventories |
9 |
1,00,000 |
b. Trade Receivables |
10 |
2,50,000 |
Total |
|
17,50,000 |
|
|
|
NOTES TO ACCOUNTS |
|||
Note No. |
Particulars |
Amount (Rs) |
|
1 |
Share Capital |
|
|
|
1,00,000 Equity Shares of Rs 10 each |
10,00,000 |
|
|
|
|
|
2 |
Reserves and Surplus |
|
|
|
General Reserve |
2,00,000 |
|
|
Less: Discount on Issue of Debenture |
(5,000) |
1,95,000 |
|
|
|
|
3 |
Long-term Borrowings |
|
|
|
12% Debentures |
2,00,000 |
|
|
Bank Loan |
1,00,000 |
|
|
|
3,00,000 |
|
|
|
|
|
4 |
Short-term Provisions |
|
|
|
Provision for Tax |
55,000 |
|
|
Proposed Dividend |
1,00,000 |
|
|
|
1,55,000 |
|
|
|
|
|
5 |
Trade Payables |
|
|
|
Creditors |
1,00,000 |
|
|
|
|
|
6 |
Tangible Assets |
|
|
|
Land and Building |
2,00,000 |
|
|
Plant and Machinery |
8,00,000 |
|
|
|
10,00,000 |
|
|
|
|
|
7 |
Intangible Assets |
|
|
|
Goodwill |
2,00,000 |
|
|
|
|
|
8 |
Non-Current Investments |
|
|
|
Shares of Raja Ltd. |
2,00,000 |
|
|
|
|
|
9 |
Inventories |
|
|
|
Stock-in-Trade |
1,00,000 |
|
|
|
|
|
10 |
Trade Receivables |
|
|
|
Debtors |
1,50,000 |
|
|
Bills Receivables |
1,00,000 |
|
|
|
2,50,000 |
|
|
|
|
Note: Discount on Issue of Debentures has been adjusted against General Reserve
Page No 1.73:
Question 52:
Balance Sheet as at March 31, 2014 |
||
Particulars |
Note No. |
Amount (Rs) |
I Equity and Liabilities |
|
|
1. Shareholders’ Funds |
|
|
a. Share Capital |
1 |
10,00,000 |
b. Reserves and Surplus |
2 |
1,95,000 |
2. Non-Current Liabilities |
|
|
Long-term Borrowings |
3 |
3,00,000 |
3. Current Liabilities |
|
|
a. Short-term Provisions |
4 |
1,55,000 |
b. Trade Payables |
5 |
1,00,000 |
Total |
|
17,50,000 |
|
|
|
II. Assets |
|
|
1. Non-Current Assets |
|
|
a. Fixed Assets |
|
|
i) Tangible Assets |
6 |
10,00,000 |
ii) Intangible Assets |
7 |
2,00,000 |
b. Non-Current Investments |
8 |
2,00,000 |
2. Current Assets |
|
|
a. Inventories |
9 |
1,00,000 |
b. Trade Receivables |
10 |
2,50,000 |
Total |
|
17,50,000 |
|
|
|
NOTES TO ACCOUNTS |
|||
Note No. |
Particulars |
Amount (Rs) |
|
1 |
Share Capital |
|
|
|
1,00,000 Equity Shares of Rs 10 each |
10,00,000 |
|
|
|
|
|
2 |
Reserves and Surplus |
|
|
|
General Reserve |
2,00,000 |
|
|
Less: Discount on Issue of Debenture |
(5,000) |
1,95,000 |
|
|
|
|
3 |
Long-term Borrowings |
|
|
|
12% Debentures |
2,00,000 |
|
|
Bank Loan |
1,00,000 |
|
|
|
3,00,000 |
|
|
|
|
|
4 |
Short-term Provisions |
|
|
|
Provision for Tax |
55,000 |
|
|
Proposed Dividend |
1,00,000 |
|
|
|
1,55,000 |
|
|
|
|
|
5 |
Trade Payables |
|
|
|
Creditors |
1,00,000 |
|
|
|
|
|
6 |
Tangible Assets |
|
|
|
Land and Building |
2,00,000 |
|
|
Plant and Machinery |
8,00,000 |
|
|
|
10,00,000 |
|
|
|
|
|
7 |
Intangible Assets |
|
|
|
Goodwill |
2,00,000 |
|
|
|
|
|
8 |
Non-Current Investments |
|
|
|
Shares of Raja Ltd. |
2,00,000 |
|
|
|
|
|
9 |
Inventories |
|
|
|
Stock-in-Trade |
1,00,000 |
|
|
|
|
|
10 |
Trade Receivables |
|
|
|
Debtors |
1,50,000 |
|
|
Bills Receivables |
1,00,000 |
|
|
|
2,50,000 |
|
|
|
|
Note: Discount on Issue of Debentures has been adjusted against General Reserve
Answer:
Balance Sheet as at March 31, 2014 |
||
Particulars |
Note No. |
Amount (Rs) |
I. Equity and Liabilities |
|
|
1. Shareholders’ Funds |
|
|
a. Share Capital |
1 |
40,000 |
b. Reserves and Surplus |
2 |
21,620 |
2. Non-Current Liabilities |
|
|
Long-term Borrowings |
3 |
9,000 |
3. Current Liabilities |
|
|
a. Trade Payables |
4 |
7,430 |
b. Short-term Provisions |
5 |
4,000 |
Total |
|
82,050 |
|
|
|
II. Assets |
|
|
1. Non-Current Assets |
|
|
a. Fixed Assets |
|
|
i) Tangible Assets |
6 |
38,200 |
b. Non-Current Investments |
|
|
2.Current Assets |
|
|
a. Inventories |
7 |
12,920 |
b. Trade Receivables |
8 |
15,900 |
c. Cash and Cash Equivalents |
9 |
15,030 |
Total |
|
82,050 |
|
|
|
NOTES TO ACCOUNTS |
|||||
Note No. |
Particulars |
Amount (Rs) |
|||
1 |
Share Capital |
|
|||
|
Authorised Capital: |
|
|||
|
10,000 shares of Rs 10 each |
1,00,000 |
|||
|
Issued Capital: |
|
|||
|
4,000 shares of Rs 10 each |
40,000 |
|||
|
Subscribed and fully paid-up: |
|
|||
|
4,000 shares of Rs 10 each |
40,000 |
|||
|
|
|
|||
2 |
Reserves and Surplus |
|
|||
|
General Reserve: |
|
|||
|
Opening Balance |
8,000 |
|||
|
Add: Transfer from Balance of Statement of Profit and Loss |
10,000 |
|||
|
Securities Premium Reserve |
4,000 |
|||
|
Statement of Profit and Loss |
|
|||
|
Opening Balance |
3,420 |
|
||
|
Profit for the year |
10,200 |
|
||
|
Less: Appropriations |
|
|||
|
General Reserve |
(10,000) |
|
||
|
Proposed Dividend (40,000 × 10%) |
(4,000) |
(380) |
||
|
Balance of Statement of Profit and Loss (Credit) |
21,620 |
|||
|
|
|
|||
3 |
Long-term Borrowings |
|
|||
|
6% Debentures |
9,000 |
|||
|
|
|
|||
4 |
Trade Payables |
|
|||
|
Creditors |
7,430 |
|||
|
|
|
|||
5 |
Short-term Provisions |
|
|||
|
Proposed Dividend |
4,000 |
|||
|
|
|
|||
6 |
Tangible Assets |
|
|||
|
Machinery (Cost) |
20,000 |
|
||
|
Less: Provision for Depreciation |
(5,000) |
15,000 |
||
|
Fixtures (Cost) |
2,200 |
|
||
|
Less: Provision for Depreciation |
(1,000) |
1,200 |
||
|
Premises (Cost) |
22,000 |
|||
|
|
38,200 |
|||
|
|
|
|||
7 |
Inventories |
|
|||
|
Stock-in-Trade |
12,920 |
|||
|
|
|
|||
8 |
Trade Receivables |
|
|||
|
Debtors |
16,150 |
|
||
|
Less: Provision for Doubtful Debts |
(250) |
15,900 |
||
|
|
|
|||
9 |
Cash and Cash Equivalents |
|
|||
|
Cash at Bank |
15,030 |
|||
|
|
|
Page No 1.74:
Question 53:
Balance Sheet as at March 31, 2014 |
||
Particulars |
Note No. |
Amount (Rs) |
I. Equity and Liabilities |
|
|
1. Shareholders’ Funds |
|
|
a. Share Capital |
1 |
40,000 |
b. Reserves and Surplus |
2 |
21,620 |
2. Non-Current Liabilities |
|
|
Long-term Borrowings |
3 |
9,000 |
3. Current Liabilities |
|
|
a. Trade Payables |
4 |
7,430 |
b. Short-term Provisions |
5 |
4,000 |
Total |
|
82,050 |
|
|
|
II. Assets |
|
|
1. Non-Current Assets |
|
|
a. Fixed Assets |
|
|
i) Tangible Assets |
6 |
38,200 |
b. Non-Current Investments |
|
|
2.Current Assets |
|
|
a. Inventories |
7 |
12,920 |
b. Trade Receivables |
8 |
15,900 |
c. Cash and Cash Equivalents |
9 |
15,030 |
Total |
|
82,050 |
|
|
|
NOTES TO ACCOUNTS |
|||||
Note No. |
Particulars |
Amount (Rs) |
|||
1 |
Share Capital |
|
|||
|
Authorised Capital: |
|
|||
|
10,000 shares of Rs 10 each |
1,00,000 |
|||
|
Issued Capital: |
|
|||
|
4,000 shares of Rs 10 each |
40,000 |
|||
|
Subscribed and fully paid-up: |
|
|||
|
4,000 shares of Rs 10 each |
40,000 |
|||
|
|
|
|||
2 |
Reserves and Surplus |
|
|||
|
General Reserve: |
|
|||
|
Opening Balance |
8,000 |
|||
|
Add: Transfer from Balance of Statement of Profit and Loss |
10,000 |
|||
|
Securities Premium Reserve |
4,000 |
|||
|
Statement of Profit and Loss |
|
|||
|
Opening Balance |
3,420 |
|
||
|
Profit for the year |
10,200 |
|
||
|
Less: Appropriations |
|
|||
|
General Reserve |
(10,000) |
|
||
|
Proposed Dividend (40,000 × 10%) |
(4,000) |
(380) |
||
|
Balance of Statement of Profit and Loss (Credit) |
21,620 |
|||
|
|
|
|||
3 |
Long-term Borrowings |
|
|||
|
6% Debentures |
9,000 |
|||
|
|
|
|||
4 |
Trade Payables |
|
|||
|
Creditors |
7,430 |
|||
|
|
|
|||
5 |
Short-term Provisions |
|
|||
|
Proposed Dividend |
4,000 |
|||
|
|
|
|||
6 |
Tangible Assets |
|
|||
|
Machinery (Cost) |
20,000 |
|
||
|
Less: Provision for Depreciation |
(5,000) |
15,000 |
||
|
Fixtures (Cost) |
2,200 |
|
||
|
Less: Provision for Depreciation |
(1,000) |
1,200 |
||
|
Premises (Cost) |
22,000 |
|||
|
|
38,200 |
|||
|
|
|
|||
7 |
Inventories |
|
|||
|
Stock-in-Trade |
12,920 |
|||
|
|
|
|||
8 |
Trade Receivables |
|
|||
|
Debtors |
16,150 |
|
||
|
Less: Provision for Doubtful Debts |
(250) |
15,900 |
||
|
|
|
|||
9 |
Cash and Cash Equivalents |
|
|||
|
Cash at Bank |
15,030 |
|||
|
|
|
Answer:
Balance Sheet as at 31st March, 2014 |
||
Particulars |
Note No. |
Amount (Rs in ‘000) |
I. Equity and Liabilities |
|
|
1. Shareholders’ Funds |
|
|
a. Share Capital |
|
2,500 |
b. Reserves and Surplus |
|
1,000 |
2. Share Application Money Pending Allotment |
|
200 |
3. Non-Current Liabilities |
|
|
a. Long-term Borrowings (10% Debentures) |
|
600 |
b. Other Long-term Liabilities |
|
500 |
c. Long-term Provisions |
|
150 |
4. Current Liabilities |
|
|
a. Trade Payables |
|
375 |
b. Short-term Provisions |
|
100 |
c. Other Current Liabilities |
|
250 |
Total |
|
5,675 |
|
|
|
II. Assets |
|
|
1. Non-Current Assets |
|
|
a. Fixed Assets |
|
|
i) Tangible Assets |
|
1,600 |
ii) Intangible Assets |
|
550 |
iii) Intangible Assets Under Development |
|
100 |
iv) Capital Work-in-Progress |
|
575 |
b. Non-Current Investments |
|
|
2. Current Assets |
|
|
a. Trade Receivables |
|
600 |
b. Inventories |
|
250 |
c. Other Current Assets |
|
1,000 |
d. Cash and Cash Equivalents |
|
1,000 |
Total |
|
5,675 |
|
|
|
View NCERT Solutions for all chapters of Class 15