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Page No 10.52:
Question 1:
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 10.52:
Question 2:
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 10.52:
Question 3:
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:
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 |
|
|
|
|
|
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 10.53:
Question 4:
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 |
|
|
|
|
|
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, 2016 |
||
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 |
|
|
|
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 10.53:
Question 5:
Balance Sheet as at March 31, 2016 |
||
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 |
|
|
|
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:
Item | Head |
1. Debentures
|
Long-term Borrowings |
2. Encashable Leave Payable at the time of Retirement
|
Long-term Provisions |
3. Tax Reserve
|
Reserves and Surplus |
Page No 10.53:
Question 6:
Item | Head |
1. Debentures
|
Long-term Borrowings |
2. Encashable Leave Payable at the time of Retirement
|
Long-term Provisions |
3. Tax Reserve
|
Reserves and Surplus |
Answer:
S. No. |
Items |
Main Head |
Sub-Head |
1 |
Bills Receivable |
Current Assets |
Trade Receivables |
2 |
Loose Tools |
Current Assets |
Inventories |
3 |
Unclaimed Dividend |
Current Liabilities |
Other Current Liabilities |
Page No 10.53:
Question 7:
S. No. |
Items |
Main Head |
Sub-Head |
1 |
Bills Receivable |
Current Assets |
Trade Receivables |
2 |
Loose Tools |
Current Assets |
Inventories |
3 |
Unclaimed Dividend |
Current Liabilities |
Other Current Liabilities |
Answer:
The following are the item with the heads and sub-heads listed in the Asset Side of Balance Sheet :
b. Tangible Fixed Assets shown under Fixed Assets (Non-Current Assets).
d. Inventories as Current Assets.
Page No 10.53:
Question 8:
The following are the item with the heads and sub-heads listed in the Asset Side of Balance Sheet :
b. Tangible Fixed Assets shown under Fixed Assets (Non-Current Assets).
d. Inventories as Current Assets.
Answer:
S. No. |
Items |
Main Head |
Sub-Head |
1 |
Loose Tools |
Current Assets |
Inventories |
2 |
Bills Receivable |
Current Assets |
Trade Receivables |
3 |
Sundry Debtors |
Current Assets |
Trade Receivables |
4 |
Livestock |
Non-Current Assets |
Tangible Fixed Assets |
5 |
Advances Recoverable in Cash |
Current Assets |
Short-term Loans and Advances |
Page No 10.53:
Question 9:
S. No. |
Items |
Main Head |
Sub-Head |
1 |
Loose Tools |
Current Assets |
Inventories |
2 |
Bills Receivable |
Current Assets |
Trade Receivables |
3 |
Sundry Debtors |
Current Assets |
Trade Receivables |
4 |
Livestock |
Non-Current Assets |
Tangible Fixed Assets |
5 |
Advances Recoverable in Cash |
Current Assets |
Short-term Loans and Advances |
Answer:
S. No. |
Items |
Main Head |
Sub-Head |
1 |
Debentures |
Non-Current Liabilities |
Long-term Borrowings |
2 |
Interest Accrued on Investments |
Current Assets |
Other Current Assets |
3 |
Goodwill |
Non-Current Assets |
Intangible Fixed Assets |
4 |
Bills of Exchange |
Current Assets |
Trade Receivables |
Page No 10.53:
Question 10:
S. No. |
Items |
Main Head |
Sub-Head |
1 |
Debentures |
Non-Current Liabilities |
Long-term Borrowings |
2 |
Interest Accrued on Investments |
Current Assets |
Other Current Assets |
3 |
Goodwill |
Non-Current Assets |
Intangible Fixed Assets |
4 |
Bills of Exchange |
Current Assets |
Trade Receivables |
Answer:
S. No. |
Items |
Main Head |
1 |
Securities Premium Reserve |
Reserves and Surplus |
2 |
Bills Receivable |
Trade Recivables |
3 |
Authorised Capital |
Share Capital |
4 |
Goodwill |
Intangible Fixed Assets |
Page No 10.53:
Question 11:
S. No. |
Items |
Main Head |
1 |
Securities Premium Reserve |
Reserves and Surplus |
2 |
Bills Receivable |
Trade Recivables |
3 |
Authorised Capital |
Share Capital |
4 |
Goodwill |
Intangible Fixed Assets |
Answer:
S. No. |
Items |
Main Head |
1 |
Authorised Capital |
Share Capital |
2 |
Forfeited Shares Account |
Share Capital |
3 |
Capital Reserve |
Reserves and Surplus |
4 |
Secured Debentures |
Long-term Borrowings |
5 |
Provision for Tax |
Short-term Provisions |
6 |
Unclaimed Dividend |
Other Current Liabilities |
Page No 10.53:
Question 12:
S. No. |
Items |
Main Head |
1 |
Authorised Capital |
Share Capital |
2 |
Forfeited Shares Account |
Share Capital |
3 |
Capital Reserve |
Reserves and Surplus |
4 |
Secured Debentures |
Long-term Borrowings |
5 |
Provision for Tax |
Short-term Provisions |
6 |
Unclaimed Dividend |
Other Current Liabilities |
Answer:
ITEMS | HEAD | SUB-HEAD |
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 10.53:
Question 13:
ITEMS | HEAD | SUB-HEAD |
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:
Item | Head | Sub-head |
i. Bank Balance | Current Assets | Cash and Cash Equivalents |
ii. Investments (Long-Term) | Non-Current Assets | Non-Current Investments |
iii. Outstanding Salary | Current Liabilities | Other Current Liabilities |
iv. Authorised Capital | Shareholders’ Fund | Share Capital |
v. Bills Payable | Current Liabilities | Trade Payables |
vi. Unclaimed Dividends | Current Liabilities | Other Current Liabilities |
vii. Shares option Outstanding Account | Shareholder’s Fund | Reserves and Surplus |
viii. General Reserve | Shareholder’s Fund | Reserves and Surplus |
ix. Subsidy Reserve | Shareholder’s Fund | Reserves and Surplus |
x. Provision for Doubtful Debts | Current Liabilities | Short-Term Provisions |
Page No 10.53:
Question 14:
Item | Head | Sub-head |
i. Bank Balance | Current Assets | Cash and Cash Equivalents |
ii. Investments (Long-Term) | Non-Current Assets | Non-Current Investments |
iii. Outstanding Salary | Current Liabilities | Other Current Liabilities |
iv. Authorised Capital | Shareholders’ Fund | Share Capital |
v. Bills Payable | Current Liabilities | Trade Payables |
vi. Unclaimed Dividends | Current Liabilities | Other Current Liabilities |
vii. Shares option Outstanding Account | Shareholder’s Fund | Reserves and Surplus |
viii. General Reserve | Shareholder’s Fund | Reserves and Surplus |
ix. Subsidy Reserve | Shareholder’s Fund | Reserves and Surplus |
x. Provision for Doubtful Debts | Current Liabilities | Short-Term Provisions |
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 10.53:
Question 15:
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:
Item | Head | Sub-head |
i. Public Deposits | Long-Term Borrowings | Non-Current Liabilities |
ii. Office Furniture | Fixed Assets (Tangible Assets) | Non-Current Assets |
iii. Prepaid Rent | Current Assets | Other Current Assets |
iv. Outstanding Salaries | Current Liabilities | Other Current Liabilities |
v. Computer Software | Fixed Assets (Intangible Assets) | Non-Current Assets |
vi. Interest Accrued on Investments | Current Assets | Other Current Assets |
vii. Bills Discounted but not Matured | Contingent Liabilities (to be shown in Notes to Accounts) | - |
viii. Premium Payable on Redemption of Debentures | Long-Term Borrowings | Non-Current Liabilities |
Page No 10.53:
Question 16:
Item | Head | Sub-head |
i. Public Deposits | Long-Term Borrowings | Non-Current Liabilities |
ii. Office Furniture | Fixed Assets (Tangible Assets) | Non-Current Assets |
iii. Prepaid Rent | Current Assets | Other Current Assets |
iv. Outstanding Salaries | Current Liabilities | Other Current Liabilities |
v. Computer Software | Fixed Assets (Intangible Assets) | Non-Current Assets |
vi. Interest Accrued on Investments | Current Assets | Other Current Assets |
vii. Bills Discounted but not Matured | Contingent Liabilities (to be shown in Notes to Accounts) | - |
viii. Premium Payable on Redemption of Debentures | Long-Term Borrowings | Non-Current Liabilities |
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 10.54:
Question 17:
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:
The appropriation will be shown in the following manner:
Extract of Balance Sheet as at ….. |
||
Particulars |
Note No. |
Amount |
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 |
||
a. Short-term Provisions |
2 |
25,000 |
Total |
NOTES TO ACCOUNTS |
|||
Note No. |
Particulars |
Amount |
|
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 |
||
2 |
Short-term Provisions |
||
Proposed Dividend |
25,000 |
||
Page No 10.54:
Question 18:
The appropriation will be shown in the following manner:
Extract of Balance Sheet as at ….. |
||
Particulars |
Note No. |
Amount |
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 |
||
a. Short-term Provisions |
2 |
25,000 |
Total |
NOTES TO ACCOUNTS |
|||
Note No. |
Particulars |
Amount |
|
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 |
||
2 |
Short-term Provisions |
||
Proposed Dividend |
25,000 |
||
Answer:
Extract of Balance Sheet as at March 31, 2015 |
|||
Particulars |
Note No. |
Amount |
|
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) |
|
||
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 10.54:
Question 19:
Extract of Balance Sheet as at March 31, 2015 |
|||
Particulars |
Note No. |
Amount |
|
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) |
|
||
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 March 31, 2016 |
||
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 |
|
|
|
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 10.54:
Question 20:
Balance Sheet as at March 31, 2016 |
||
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 |
|
|
|
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, 2016
|
||
Particulars
|
Note No.
|
Amount
(Rs)
|
I. Equity and Liabilities
|
|
|
1. Shareholders’ Funds
|
|
|
a. Share Capital
|
1
|
3,00,000
|
b. Reserves and Surplus
|
2
|
22,000
|
2. Non-Current Liabilities
|
|
–
|
3. Current Liabilities
|
|
|
a. Trade Payables
|
3
|
20,000
|
b. Short-term Provisions
|
4
|
36,000
|
Total
|
|
3,78,000
|
II. Assets
|
|
|
1. Non-Current Assets
|
|
|
a. Fixed Assets
|
|
|
i) Tangible Assets
|
5
|
94,000
|
ii) Non-Current Investments
|
|
|
2. Current Assets
|
|
|
a. Inventories
|
6
|
1,60,000
|
b. Trade Receivables
|
7
|
80,000
|
c. Cash and Cash Equivalents
|
8
|
44,000
|
Total
|
|
3,78,000
|
|
|
|
NOTES TO ACCOUNTS
|
|||
Note No.
|
Particulars
|
Amount
(Rs)
|
|
1
|
Share Capital
|
|
|
|
20,000 Equity Shares of Rs 10 each
|
2,00,000
|
|
|
10,000 Preference Shares of Rs 10 each
|
1,00,000
|
|
|
|
3,00,000
|
|
2
|
Reserves and Surplus
|
|
|
|
Transfer to General Reserve
|
10,000
|
|
|
Statement of Profit and Loss:
|
|
|
|
Profit for the year
|
58,000
|
|
|
Less: Appropriations
|
|
|
|
Transfer to General Reserve
|
(10,000)
|
|
|
Proposed Dividend
|
|
|
|
Equity
|
(30,000)
|
|
|
Preference
|
(6,000)
|
12,000
|
|
Balance of Statement of Profit and Loss (Credit)
|
22,000
|
|
|
|
|
|
3
|
Trade Payables
|
|
|
|
Creditors
|
20,000
|
|
|
|
|
|
4
|
Short-term Provisions
|
|
|
|
Proposed Dividend
|
36,000
|
|
|
|
|
|
5
|
Tangible Assets
|
|
|
|
Machinery (cost)
|
35,000
|
|
|
Less: Provision for Depreciation
|
(7,000)
|
28,000
|
|
Premises (Cost)
|
60,000
|
|
|
Office Furniture
|
6,000
|
|
|
|
94,000
|
|
6
|
Inventories
|
|
|
|
Stock
|
1,60,000
|
|
|
|
|
|
7
|
Trade Receivables
|
|
|
|
Debtors
|
80,000
|
|
|
|
|
|
8
|
Cash and Cash Equivalents
|
|
|
|
Cash at Bank
|
44,000
|
|
|
|
|
Page No 10.55:
Question 21:
Balance Sheet
as at March 31, 2016
|
||
Particulars
|
Note No.
|
Amount
(Rs)
|
I. Equity and Liabilities
|
|
|
1. Shareholders’ Funds
|
|
|
a. Share Capital
|
1
|
3,00,000
|
b. Reserves and Surplus
|
2
|
22,000
|
2. Non-Current Liabilities
|
|
–
|
3. Current Liabilities
|
|
|
a. Trade Payables
|
3
|
20,000
|
b. Short-term Provisions
|
4
|
36,000
|
Total
|
|
3,78,000
|
II. Assets
|
|
|
1. Non-Current Assets
|
|
|
a. Fixed Assets
|
|
|
i) Tangible Assets
|
5
|
94,000
|
ii) Non-Current Investments
|
|
|
2. Current Assets
|
|
|
a. Inventories
|
6
|
1,60,000
|
b. Trade Receivables
|
7
|
80,000
|
c. Cash and Cash Equivalents
|
8
|
44,000
|
Total
|
|
3,78,000
|
|
|
|
NOTES TO ACCOUNTS
|
|||
Note No.
|
Particulars
|
Amount
(Rs)
|
|
1
|
Share Capital
|
|
|
|
20,000 Equity Shares of Rs 10 each
|
2,00,000
|
|
|
10,000 Preference Shares of Rs 10 each
|
1,00,000
|
|
|
|
3,00,000
|
|
2
|
Reserves and Surplus
|
|
|
|
Transfer to General Reserve
|
10,000
|
|
|
Statement of Profit and Loss:
|
|
|
|
Profit for the year
|
58,000
|
|
|
Less: Appropriations
|
|
|
|
Transfer to General Reserve
|
(10,000)
|
|
|
Proposed Dividend
|
|
|
|
Equity
|
(30,000)
|
|
|
Preference
|
(6,000)
|
12,000
|
|
Balance of Statement of Profit and Loss (Credit)
|
22,000
|
|
|
|
|
|
3
|
Trade Payables
|
|
|
|
Creditors
|
20,000
|
|
|
|
|
|
4
|
Short-term Provisions
|
|
|
|
Proposed Dividend
|
36,000
|
|
|
|
|
|
5
|
Tangible Assets
|
|
|
|
Machinery (cost)
|
35,000
|
|
|
Less: Provision for Depreciation
|
(7,000)
|
28,000
|
|
Premises (Cost)
|
60,000
|
|
|
Office Furniture
|
6,000
|
|
|
|
94,000
|
|
6
|
Inventories
|
|
|
|
Stock
|
1,60,000
|
|
|
|
|
|
7
|
Trade Receivables
|
|
|
|
Debtors
|
80,000
|
|
|
|
|
|
8
|
Cash and Cash Equivalents
|
|
|
|
Cash at Bank
|
44,000
|
|
|
|
|
Answer:
Balance Sheet
as at March 31, 2016
|
||
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 10.55:
Question 22:
Balance Sheet
as at March 31, 2016
|
||
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, 2016
|
||
Particulars
|
Note No.
|
Amount
(Rs)
|
I. Equity and Liabilities
|
|
|
1. Shareholders’ Funds
|
|
|
a. Share Capital
|
1
|
2,40,000
|
b. Reserves and Surplus
|
2
|
1,86,000
|
2. Non-Current Liabilities
|
|
|
Long-term Borrowings
|
3
|
1,20,000
|
3. Current Liabilities
|
|
|
a. Other Current Liabilities
|
4
|
1,97,400
|
b. Short-term Provisions
|
5
|
90,000
|
Total
|
|
8,33,400
|
II. Assets |
|
|
1. Non-Current Assets
|
|
|
a. Fixed Assets
|
|
|
i) Tangible Assets
|
6
|
4,20,000
|
b. Non-Current Investments
|
7
|
1,14,000
|
c. Long-term Loans and Advances
|
8
|
6,000
|
2. Current Assets
|
|
|
a. Other Current Assets
|
9
|
2,93,400
|
Total
|
|
8,33,400
|
|
|
|
NOTES TO ACCOUNTS
|
||||
Note No.
|
Particulars
|
Amount
(Rs)
|
||
1
|
Share Capital
|
|
||
|
2,400 Equity Shares of Rs 100 each
|
2,40,000
|
||
|
|
|
||
2
|
Reserves and Surplus
|
|
||
|
Reserves
|
1,98,000
|
|
|
|
Less: Underwriting Commission
|
(12,000)
|
1,86,000
|
|
|
|
|
||
3
|
Long-term Borrowings
|
|
||
|
Secured Loans
|
90,000
|
||
|
Unsecured Loans
|
30,000
|
||
|
|
1,20,000
|
||
4
|
Other Current Liabilities
|
|
||
|
Current Liabilities
|
1,97,400
|
||
|
|
|
||
5
|
Short-term Provisions
|
|
||
|
Provision for Taxation
|
90,000
|
||
|
|
|
||
6
|
Tangible Assets
|
|
||
|
Fixed Assets (Cost)
|
5,46,000
|
|
|
|
Less: Provision for Depreciation
|
(1,26,000)
|
4,20,000
|
|
|
|
|
||
7
|
Non-Current Investments
|
|
||
|
Investments
|
1,14,000
|
||
|
|
|
||
8
|
Long-term Loans and Advances
|
|
||
|
Loans and Advances
|
6,000
|
||
|
|
|
||
9
|
Other Current Assets
|
|
||
|
Current Assets
|
2,93,400
|
||
|
|
|
Page No 10.55:
Question 23:
Balance Sheet
as at March 31, 2016
|
||
Particulars
|
Note No.
|
Amount
(Rs)
|
I. Equity and Liabilities
|
|
|
1. Shareholders’ Funds
|
|
|
a. Share Capital
|
1
|
2,40,000
|
b. Reserves and Surplus
|
2
|
1,86,000
|
2. Non-Current Liabilities
|
|
|
Long-term Borrowings
|
3
|
1,20,000
|
3. Current Liabilities
|
|
|
a. Other Current Liabilities
|
4
|
1,97,400
|
b. Short-term Provisions
|
5
|
90,000
|
Total
|
|
8,33,400
|
II. Assets |
|
|
1. Non-Current Assets
|
|
|
a. Fixed Assets
|
|
|
i) Tangible Assets
|
6
|
4,20,000
|
b. Non-Current Investments
|
7
|
1,14,000
|
c. Long-term Loans and Advances
|
8
|
6,000
|
2. Current Assets
|
|
|
a. Other Current Assets
|
9
|
2,93,400
|
Total
|
|
8,33,400
|
|
|
|
NOTES TO ACCOUNTS
|
||||
Note No.
|
Particulars
|
Amount
(Rs)
|
||
1
|
Share Capital
|
|
||
|
2,400 Equity Shares of Rs 100 each
|
2,40,000
|
||
|
|
|
||
2
|
Reserves and Surplus
|
|
||
|
Reserves
|
1,98,000
|
|
|
|
Less: Underwriting Commission
|
(12,000)
|
1,86,000
|
|
|
|
|
||
3
|
Long-term Borrowings
|
|
||
|
Secured Loans
|
90,000
|
||
|
Unsecured Loans
|
30,000
|
||
|
|
1,20,000
|
||
4
|
Other Current Liabilities
|
|
||
|
Current Liabilities
|
1,97,400
|
||
|
|
|
||
5
|
Short-term Provisions
|
|
||
|
Provision for Taxation
|
90,000
|
||
|
|
|
||
6
|
Tangible Assets
|
|
||
|
Fixed Assets (Cost)
|
5,46,000
|
|
|
|
Less: Provision for Depreciation
|
(1,26,000)
|
4,20,000
|
|
|
|
|
||
7
|
Non-Current Investments
|
|
||
|
Investments
|
1,14,000
|
||
|
|
|
||
8
|
Long-term Loans and Advances
|
|
||
|
Loans and Advances
|
6,000
|
||
|
|
|
||
9
|
Other Current Assets
|
|
||
|
Current Assets
|
2,93,400
|
||
|
|
|
Answer:
Balance Sheet
as at March 31, 2016
|
||
Particulars | Note No. |
Amount (Rs) |
I. Equity and Liabilities | ||
1. Shareholders’ Funds | ||
a. Share Capital
|
1 | 13,00,000 |
b. Reserves and Surplus
|
2 | 31,67,000 |
2. Non-Current Liabilities | ||
a. Long-term Borrowings
|
3 | 20,00,000 |
3. Current Liabilities | ||
a. Short Term Borrowings
|
4 | 2,00,000 |
b. Trade Payables
|
5 | 18,45,000 |
c. Other Current Liabilities
|
6 | 1,70,000 |
d. Short-term Provisions
|
7 | 20,200 |
Total | 87,02,200 | |
II Assets |
||
1. Non-Current Assets | ||
a. Fixed Assets
|
||
i) Tangible Assets
|
8 | 51,50,000 |
ii) Capital Work-in-Progress
|
2,00,000 | |
b. Non-Current Investments
|
2,25,200 | |
c. Long Term Loans and Advances
|
9 | 3,72,000 |
2. Current Assets | ||
a. Inventories
|
10 | 12,00,000 |
b. Trade Receivables
|
11 | 12,25,000 |
c. Cash and Cash Equivalents
|
12 | 2,75,000 |
d. Short-term Loans and Advances
|
55,000 | |
Total | 87,02,200 | |
NOTES TO ACCOUNTS | ||
Note No. |
Particulars | Amount (Rs) |
1 | Share Capital | |
3,000 Equity Shares of Rs 100 each
|
3,00,000 | |
10,000, 10% Preference Shares of Rs 100 each
|
10,00,000 | |
13,00,000 | ||
2 | Reserves and Surplus | |
General Reserve
|
30,50,000 | |
Securities Premium Reserve
|
4,75,000 | |
Profit & Loss A/c (Loss)
|
(3,58,000) | |
31,67,000 | ||
3 | Long-term Borrowings | |
Term Loan (Secured)
|
20,00,000 | |
4 | Short-term Borrowings | |
Loan from Debtors
|
2,00,000 | |
5 | Trade Payables | |
Sundry Creditors
|
18,45,000 | |
6. | Other Current Liabilities | |
Taxes Payable
|
1,70,000 | |
7 | Short-term Provisions | |
Provision for Doubtful Debts
|
20,200 | |
8 | Tangible Assets | |
Fixed Assets
|
51,50,000 | |
51,50,000 | ||
9 | Long Term Loan and Advances | |
Advances
|
3,72,000 | |
10 | Inventories | |
Stores
|
4,00,000 | |
Finished Goods
|
7,50,000 | |
Loose Tools
|
50,000 | |
12,00,000 | ||
11 | Trade Receivables | |
Sundry Debtors
|
12,25,000 | |
12 | Cash and Cash Equivalents | |
Cash and Bank Balances
|
2,75,000 | |
Note: The total of balance sheet given in the textbook is Rs 86,82,300, however, as per the solution provided it should be Rs 87,02,200.
Page No 10.56:
Question 24:
Balance Sheet
as at March 31, 2016
|
||
Particulars | Note No. |
Amount (Rs) |
I. Equity and Liabilities | ||
1. Shareholders’ Funds | ||
a. Share Capital
|
1 | 13,00,000 |
b. Reserves and Surplus
|
2 | 31,67,000 |
2. Non-Current Liabilities | ||
a. Long-term Borrowings
|
3 | 20,00,000 |
3. Current Liabilities | ||
a. Short Term Borrowings
|
4 | 2,00,000 |
b. Trade Payables
|
5 | 18,45,000 |
c. Other Current Liabilities
|
6 | 1,70,000 |
d. Short-term Provisions
|
7 | 20,200 |
Total | 87,02,200 | |
II Assets |
||
1. Non-Current Assets | ||
a. Fixed Assets
|
||
i) Tangible Assets
|
8 | 51,50,000 |
ii) Capital Work-in-Progress
|
2,00,000 | |
b. Non-Current Investments
|
2,25,200 | |
c. Long Term Loans and Advances
|
9 | 3,72,000 |
2. Current Assets | ||
a. Inventories
|
10 | 12,00,000 |
b. Trade Receivables
|
11 | 12,25,000 |
c. Cash and Cash Equivalents
|
12 | 2,75,000 |
d. Short-term Loans and Advances
|
55,000 | |
Total | 87,02,200 | |
NOTES TO ACCOUNTS | ||
Note No. |
Particulars | Amount (Rs) |
1 | Share Capital | |
3,000 Equity Shares of Rs 100 each
|
3,00,000 | |
10,000, 10% Preference Shares of Rs 100 each
|
10,00,000 | |
13,00,000 | ||
2 | Reserves and Surplus | |
General Reserve
|
30,50,000 | |
Securities Premium Reserve
|
4,75,000 | |
Profit & Loss A/c (Loss)
|
(3,58,000) | |
31,67,000 | ||
3 | Long-term Borrowings | |
Term Loan (Secured)
|
20,00,000 | |
4 | Short-term Borrowings | |
Loan from Debtors
|
2,00,000 | |
5 | Trade Payables | |
Sundry Creditors
|
18,45,000 | |
6. | Other Current Liabilities | |
Taxes Payable
|
1,70,000 | |
7 | Short-term Provisions | |
Provision for Doubtful Debts
|
20,200 | |
8 | Tangible Assets | |
Fixed Assets
|
51,50,000 | |
51,50,000 | ||
9 | Long Term Loan and Advances | |
Advances
|
3,72,000 | |
10 | Inventories | |
Stores
|
4,00,000 | |
Finished Goods
|
7,50,000 | |
Loose Tools
|
50,000 | |
12,00,000 | ||
11 | Trade Receivables | |
Sundry Debtors
|
12,25,000 | |
12 | Cash and Cash Equivalents | |
Cash and Bank Balances
|
2,75,000 | |
Note: The total of balance sheet given in the textbook is Rs 86,82,300, however, as per the solution provided it should be Rs 87,02,200.
Answer:
Balance Sheet
as at 31st March, 2016
|
||
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
|
|
|
|
Page No 10.56:
Question 25:
Balance Sheet
as at 31st March, 2016
|
||
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
|
|
|
|
Answer:
Balance Sheet of Rama Ltd.
as at March 31, 2015
|
||
Particulars | Note No. |
Amount (Rs) |
I. Equity and Liabilities | ||
1. Shareholders’ Funds | ||
a. Share Capital
|
1 | 10,00,000 |
b. Reserves and Surplus
|
2 | 1,50,000 |
2. Non-Current Liabilities | ||
a. Long-term Borrowings
|
3 | 5,00,000 |
3. Current Liabilities | ||
a. Trade Payables
|
4 | 2,00,000 |
b. Short-term Provisions
|
5 | 50,000 |
Total | 19,00,000 | |
II Assets |
||
1. Non-Current Assets | ||
a. Fixed Assets
|
||
i) Tangible Assets
|
6 | 9,00,000 |
ii) Capital Work-In-Progress
|
3,50,000 | |
b. Non-Current Investments
|
7 | 6,00,000 |
2. Current Assets | ||
a. Cash and Cash Equivalents
|
8 | 50,000 |
Total | 19,00,000 | |
NOTES TO ACCOUNTS | ||
Note No. |
Particulars | Amount (Rs) |
1 | Share Capital | |
1,00,000 Equity Shares of Rs 10 each
(Out of above, 15,000 shares of Rs 10 each issued for consideration other than cash) |
10,00,000 | |
10,00,000 | ||
2 | Reserves and Surplus | |
Securities Premium Reserve
|
2,00,000 | |
Profit and Loss A/c (Loss)
|
(50,000) | |
1,50,000 | ||
3 | Long Term Borrowings | |
12% Debentures
|
5,00,000 | |
4 | Trade Payables | |
Creditors
|
2,00,000 | |
5 | Short-term Provisions | |
Proposed Dividend
|
50,000 | |
6 | Tangible Assets | |
Land & Building
|
9,00,000 | |
9,00,000 | ||
7 | Non Current Investments | |
Government Bonds
|
6,00,000 | |
8 | Cash and Cash Equivalents | |
Cash at Bank
|
50,000 | |
Page No 10.56:
Question 26:
Balance Sheet of Rama Ltd.
as at March 31, 2015
|
||
Particulars | Note No. |
Amount (Rs) |
I. Equity and Liabilities | ||
1. Shareholders’ Funds | ||
a. Share Capital
|
1 | 10,00,000 |
b. Reserves and Surplus
|
2 | 1,50,000 |
2. Non-Current Liabilities | ||
a. Long-term Borrowings
|
3 | 5,00,000 |
3. Current Liabilities | ||
a. Trade Payables
|
4 | 2,00,000 |
b. Short-term Provisions
|
5 | 50,000 |
Total | 19,00,000 | |
II Assets |
||
1. Non-Current Assets | ||
a. Fixed Assets
|
||
i) Tangible Assets
|
6 | 9,00,000 |
ii) Capital Work-In-Progress
|
3,50,000 | |
b. Non-Current Investments
|
7 | 6,00,000 |
2. Current Assets | ||
a. Cash and Cash Equivalents
|
8 | 50,000 |
Total | 19,00,000 | |
NOTES TO ACCOUNTS | ||
Note No. |
Particulars | Amount (Rs) |
1 | Share Capital | |
1,00,000 Equity Shares of Rs 10 each
(Out of above, 15,000 shares of Rs 10 each issued for consideration other than cash) |
10,00,000 | |
10,00,000 | ||
2 | Reserves and Surplus | |
Securities Premium Reserve
|
2,00,000 | |
Profit and Loss A/c (Loss)
|
(50,000) | |
1,50,000 | ||
3 | Long Term Borrowings | |
12% Debentures
|
5,00,000 | |
4 | Trade Payables | |
Creditors
|
2,00,000 | |
5 | Short-term Provisions | |
Proposed Dividend
|
50,000 | |
6 | Tangible Assets | |
Land & Building
|
9,00,000 | |
9,00,000 | ||
7 | Non Current Investments | |
Government Bonds
|
6,00,000 | |
8 | Cash and Cash Equivalents | |
Cash at Bank
|
50,000 | |
Answer:
In the Books of Ell Kay Ltd. |
|||||
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
|
|
|
|
|
|
Office Machinery A/c |
Dr. |
|
11,50,000 |
|
|
To Excel Ltd A/c |
|
|
|
11,50,000 |
|
(Office Machinery purchased) |
|
|
|
|
|
|
|
|
|
|
|
Excel Ltd. A/c |
Dr. |
|
11,50,000 |
|
|
To Bank A/c |
|
|
|
50,000 |
|
To 15 % Preference Shares |
|
|
|
10,00,000 |
|
To Securities Premium Reserve A/c |
|
|
|
1,00,000 |
|
(Settlement of account of vendor) |
|
|
|
|
|
|
|
|
|
|
|
Bank A/c (5 × 5,00,000) |
Dr. |
|
25,00,000 |
|
|
To Equity Share Application A/c |
|
|
|
25,00,000 |
|
(Application money received for 5,00,000 shares @ Rs 5) |
|
|
|
|
|
|
|
|
|
|
|
Equity Share Application A/c (5 × 5,00,000) |
Dr. |
|
25,00,000 |
|
|
To Equity Share Capital A/c (5 × 2,00,000) |
|
|
|
10,00,000 |
|
To Equity Share Allotment A/c |
|
|
|
15,00,000 |
|
(Application money transferred to Share Capital Account and excess adjusted towards allotment) |
|
|
|
|
|
|
|
|
|
|
|
Equity Share Allotment A/c (8 × 2,00,000) |
Dr. |
|
16,00,000 |
|
|
To Equity Share Capital A/c (3 × 2,00,000) |
|
|
|
6,00,000 |
|
To Securities Premium Reserve A/c (5 × 2,00,000) |
|
|
|
10,00,000 |
|
|
|
|
|
|
|
Bank A/c |
Dr. |
|
99,500 |
|
|
Calls in Arrears A/c |
Dr. |
|
500 |
|
|
To Equity Share Allotment A/c |
|
|
|
1,00,000 |
|
(Amount received on all shares except from Anil) |
|
|
|
|
|
|
|
|
|
|
|
Equity Share Final Call A/c (2 × 2,00,000) |
Dr. |
|
4,00,000 |
|
|
To Equity Share Capital A/c (2 × 2,00,000) |
|
|
|
4,00,000 |
|
|
|
|
|
|
|
Bank A/c |
Dr. |
|
3,94,000 |
|
|
Calls in Arrears A/c (1,000 × 2) + (2,000 × 2) |
Dr. |
|
6,000 |
|
|
To Equity Share Final Call A/c |
|
|
|
4,00,000 |
|
(Amount received on all shares except from Anil and Gopal) |
|
|
|
|
|
|
|
|
|
|
|
Share Capital A/c |
Dr. |
|
10,000 |
|
|
Securities Premium Reserve A/c |
Dr. |
|
5,000 |
|
|
To Calls-in-Arrears A/c |
|
|
|
2,500 |
|
To Share Forfeiture A/c |
|
|
|
12,500 |
|
(1,000 shares forfeited) |
|
|
|
|
|
Bank A/c |
Dr. |
|
7,500 |
|
|
To Share Capital A/c |
|
|
|
5,000 |
|
To Securities Premium Reserve A/c |
|
|
|
2,500 |
|
(Reissue of 500 forfeited shares) |
|
|
|
|
|
|
|
|
|
|
|
Forfeited Shares A/c |
Dr. |
|
6,250 |
|
|
To Capital Reserve A/c |
|
|
|
6,250 |
|
(Gain on Reissue transferred) |
|
|
|
|
|
|
|
|
|
|
|
Bank A/c |
Dr. |
|
20,00,000 |
|
|
To 10% Pref. Share Application A/c |
|
|
|
20,00,000 |
|
(Application money received for 40,000 shares @ Rs 50) |
|
|
|
|
|
|
|
|
|
|
|
10% Pref. Share Application A/c |
Dr. |
|
20,00,000 |
|
|
To 10% Pref. Share Capital A/c (50 × 25,000) |
|
|
|
12,50,000 |
|
To Bank A/c |
|
|
|
7,50,000 |
|
(Application money transferred to Share Capital Account and excess refunded) |
|
|
|
|
|
|
|
|
|
|
|
10% Pref. Share Allotment A/c (30 × 25,000) |
Dr. |
|
7,50,000 |
|
|
To Equity Share Capital A/c (30 × 25,000) |
|
|
|
7,50,000 |
|
(Allotment due on Pref. Shares) |
|
|
|
|
|
|
|
|
|
|
|
Bank A/c |
Dr. |
|
7,65,000 |
|
|
To 10% Pref. Share Allotment A/c |
|
|
|
7,50,000 |
|
To Calls in Advance A/c (20 × 500) |
|
|
|
10,000 |
|
(Amount received on all shares plus final call on 500 shares) |
|
|
|
|
|
|
|
|
|
|
|
Preference Share Final Call A/c (20 × 25,000) |
Dr. |
|
5,00,000 |
|
|
To 10% Pref. Share Capital A/c |
|
|
|
5,00,000 |
|
(Share final call money due) |
|
|
|
|
|
|
|
|
|
|
|
Bank A/c (23,500 × 20) |
Dr. |
|
4,70,000 |
|
|
Calls in Arrears A/c (1,000 × 20) |
Dr. |
|
20,000 |
|
|
Calls in Advance A/c (500 × 20) |
|
|
10,000 |
|
|
To 10% Pref. Share Final Call A/c |
|
|
|
5,00,000 |
|
(Amount received on all shares except from Amit) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dr. |
Calls in Arrears Account |
Cr. |
||||
Date |
Particulars |
Amount (Rs.) |
Date |
Particulars |
Amount (Rs.) |
|
|
Eq. Share Allotment A/c |
500 |
|
Share Capital A/c |
2,500 |
|
|
Eq. Share Final Call A/c |
6,000 |
|
Balance c/d |
24,000 |
|
|
10% Pref. Share Final Call A/c |
20,000 |
|
|
|
|
|
|
26,500 |
|
|
26,500 |
|
|
|
|
|
|
|
|
Dr. |
Calls in Advance Account |
Cr. |
||||
Date |
Particulars |
Amount (Rs.) |
Date |
Particulars |
Amount (Rs.) |
|
|
10% Pref. Share Final Call A/c |
10,000 |
|
Bank A/c |
10,000 |
|
|
|
10,000 |
|
|
10,000 |
|
|
|
|
|
|
|
|
Particulars |
Note No. |
Figures at the end of current reporting period |
I. Equity and Liabilities |
|
|
1. Shareholders’ Funds |
|
|
a. Share Capital |
1 |
64,77,750 |
b. Reserves and Surplus |
2 |
11,03,750 |
Total |
|
75,81,000 |
|
|
|
II Assets |
|
|
1. Non-Current Assets |
|
|
|
3 |
11,50,000 |
2. Current Assets |
|
|
|
4 |
64,31,000 |
Total |
|
75,81,000 |
|
|
|
NOTES TO ACCOUNTS |
|||
Note No. |
Particulars |
Amount (Rs) |
|
1 |
Share Capital |
|
|
|
Authorised Capital |
|
|
|
5,00,000 Equity Shares of Rs 10 each |
50,00,000 |
|
|
50,000 Preference Shares of Rs 100 each |
50,00,000 |
|
|
|
1,00,00,000 |
|
|
Issued, Paid up and Subscribed Capital |
|
|
|
50,000 Equity Shares of Rs 10 each |
5,00,000 |
|
|
5,000, 10% Preference Shares of Rs 100 each |
5,00,000 |
|
|
10,000, 15% Preference Shares of Rs 100 each |
10,00,000 |
|
|
25,000 10% Preference Shares of Rs 100 each |
25,00,000 |
|
|
1,99,500 Equity Shares of Rs 10 each |
19,95,000 |
|
|
Less: Calls in Arrears* |
(24,000) |
|
|
Add: Share Forfeiture |
6,250 |
19,77,250 |
|
|
64,77,250 |
|
|
|
|
|
2 |
Reserves and Surplus |
|
|
|
Capital Reserve |
6,250 |
|
|
Securities Premium Reserve |
10,97,500 |
|
|
|
11,03,750 |
|
|
|
|
|
3 |
Fixed Assets |
|
|
|
Tangible Assets- Machinery |
11,50,000 |
|
|
|
|
|
|
|
|
|
8 |
Cash and Cash Equivalents |
|
|
|
Cash at Bank |
64,31,000 |
|
|
|
|
View NCERT Solutions for all chapters of Class 15