Analysis
Of Financial Statements Ts
Grewal 2021-2022
for Class 12
Commerce | Accountancy
Chapter
1 - Financial Statements Of A Company
Page No 1.61:
Question 11:
State any two items that are included in the following major
heads under which liabilities of a company are shown: (i)
Reserves and Surplus; (ii) Long-term Borrowings; (iii)
Short-term Borrowings; (iv) 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 1.61:
Question 12:
Classify the following items under major head and sub-head (if any)
in the Balance Sheet of a company as per Schedule III of the Companies Act,
2013: (i) Capital Work-in-Progress: (ii) Provision
for Warranties; (iii) Income received in Advance; and (iv) Capital Advances
Answer:
|
Item |
Major Head |
Sub-Head |
|
Capital
Work-in-Progress |
Non-Current
Assets |
Fixed
Assets- Capital Work-in-Progress |
|
Provision
for Warranties |
Non-Current
Liabilities |
Long
Term Provisions |
|
Income
Received in Advance |
Current
Liabilities |
Other
Current Liabilities |
|
Capital
Advances |
Non-Current
Assets |
Long
Term Loans & Advances |
Page No 1.62:
Question 13. Under which major heads and
sub-heads will the following items be placed in the Balance Sheet of the
company as per Schedule 11, Part I of the Companies Act, 2013?
(i) Debentures
with maturity period in current financial year
(ii) Securities Premium Reserve
(ii) Provident Fund
(CBSE Sample Paper 2019)
Answer:
|
S. No. |
Item |
Major Head |
Sub-head |
|
(i) |
Debentures with maturity period in current financial year |
Current Liabilities |
Other Current Liabilities |
|
(ii) |
Securities Premium Reserve |
Shareholders' Funds |
Reserves and Surplus |
|
(iii) |
Provident Fund |
Non-current Liabilities |
Long-term Provisions |
Page No 1.62:
Question 14:
Under which major head and sub-head of the Assets part of the
Balance Sheet will the following be shown:
(i) Intangible Assets; (ii) Intangible Assets under
Development; (iii) Investments (more than 12 months); (iv) Deferred Tax Assets
(Net); (v) Stores and Spares; and (vi) Loose Tools?
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 1.62:
Question 15:
Under which heads the following items are classified or shown on the
Assets part of the Balance Sheet of a copany: (i) Loose Tools; (ii) Bills Receivable; (iii) Sundry
Debtors: and (iv) Advances Recoverable in Cash?
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 |
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