Analysis
Of Financial Statements Ts Grewal 2021-2022
for
Class 12 Commerce | Accountancy
Chapter
1 - Financial Statements Of A Company
Page No 1.66:
Question 26: Under which heads and sub-heads
will be the following items shown in the Balance Sheet of a Company as per
Schedule l, Part I of the Companies Act, 2013?
(i) Securities Premium Reserve
(ii) Interest accrued and due on secured loans
(iii) Cash and Bank balance
(iv) Interest accrued but not due
(v) Building
(vi) Mining Rights
(vii) Sundry Debtors
(vii) Sundry Creditors
(ix) Premium on Redemption of Debentures
(x) Provision for Tax
Answer:
|
S. No. |
Major Head |
Sub-head |
|
(i) |
Shareholders' Funds |
Reserves and Surplus |
|
(ii) |
Current Liabilities |
Other Current Liabilities |
|
(ii) |
Current Assets |
Cash and Cash Equivalents |
|
(iv) |
Current Liabilities |
Other Current Liabilities |
|
(v) |
Non-current Assets |
Property, Plant and Equipment (Fixed Assets)-Tangible Assets |
|
(vi) |
Non-current |
Assets Property, Plant and Equipment (Fixed Assets)-Intangible Assets |
|
(vii) |
Current Assets |
Trade Receivables |
|
(vii) |
Current Liabilities |
Trade Payables |
|
(ix) |
Non-current Liabilities |
Other Long-term Liabilities |
|
(x) |
Current Liabilities |
Short-term Provisions |
Page No 1.67:
Question 27:
|
Prepare
Balance Sheet of the Company as per Schedule III of the Companies Act, 2013: |
` |
|
10%
Debentures of ` 100 each |
1,90,000 |
|
Stock-in-Trade
(inventories) |
40,000 |
|
Goodwill |
20,000 |
|
Provision
for Tax |
60,000 |
|
Totalling
of Balance Sheet is not required |
Answer:
|
Balance Sheet as at … |
||
|
Particulars |
Note No. |
Amount ( `) |
|
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 ( `) |
|
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 1.67:
Question 28:
Prepare Balance Sheet of VT Ltd. as at 31st March
2019, from the following information as per Schedule III, Part I of the
Companies Act, 2013:
|
|
` |
|
|
` |
|
General
Reserve |
3,000 |
|
Fixed
Assets: Tangible Assets (Cost) |
9,000 |
|
8%
Debentures |
3,000 |
|
Other
Current Liabilities |
2,500 |
|
Surplus, i.e., Balance
in Statement of Profit and Loss (Credit) |
1,200 |
|
Share
Capital |
5,000 |
|
Depreciation
of Fixed Assets |
700 |
|
Other
Current Assets |
6,400 |
Answer:
|
Balance Sheet as at March 31, 2019 |
||
|
Particulars |
Note No. |
Amount ( `) |
|
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 |
|
|
|
Fixed Assets (Tangible Assets) |
4 |
8,300 |
|
2. Current Assets |
|
|
|
Other Current Assets |
|
6,400 |
|
Total |
|
14,700 |
|
NOTES TO ACCOUNTS |
|||
|
Note No. |
Particulars |
Amount ( `) |
|
|
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 |
Fixed Assets |
|
|
|
|
Tangible Assets (Cost) |
9,000 |
|
|
|
Depreciation |
(700) |
8,300 |
|
|
|
|
|
Page No 1.67:
Question 29:
From the following information extracted from the books of Howrach Ltd., prepare Balance Sheet of the company as at 31st March, 2019 as per Schedule III of the Companies Act, 2013:
|
|
(
`
in '000) |
|
(
`
in '000) |
|
Long-term
Borrowings |
1,000 |
Fixed
Assets (Tangible) |
1,600 |
|
Trade
Payable |
60 |
Inventories |
40 |
|
Share
Capital |
800 |
Trade
Receivables |
160 |
|
Reserves
and Surplus |
180 |
Cash
and Cash Equivalents |
240 |
Answer:
|
Balance Sheet of Howrach Ltd. as at March 31, 2019 |
||
|
Particulars |
Note No. |
Amount ( ` 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 |
|
|
|
Fixed Assets (Tangible Assets) |
|
1,600 |
|
2. Current Assets |
|
|
|
Inventories |
|
40 |
|
Trade Receivables |
|
160 |
|
Cash and Cash Equivalents |
|
240 |
|
Total |
|
2,040 |
Page No 1.67:
Question 30:
Prepare Balance Sheet of HP Ltd. as at 31st March, 2019 from the following information:
|
|
` |
|
|
` |
|
Equity
Share Capital |
20,00,000 |
|
Surplus,
i.e., Balance in Statement of Profit and Loss (Cr.) |
3,00,000 |
|
12%
Preference Share Capital |
10,00,000 |
|
Stock |
6,00,000 |
|
Fixed
Assets (At cost) |
46,60,000 |
|
Sundry
Debtors |
8,00,000 |
|
Accumulated
Depreciation |
16,60,000 |
|
Cash |
1,50,000 |
|
Investments |
4,00,000 |
|
Loans
and Advances |
50,000 |
|
Current
Liabilities |
8,00,000 |
|
Provision
for Taxation |
2,00,000 |
|
12%
Debentures |
6,00,000 |
|
Workmen
Compensation Reserve |
1,00,000 |
Answer:
|
Balance Sheet of HP Ltd. as at March 31, 2019 |
||||
|
Particulars |
Note No. |
Amount ( `) |
||
|
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 ( `) |
||
|
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 |
||
|
|
|
|
||
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