Question 1:
What are the major heads in the Equity and Liabilities part of the Balance Sheet as per Schedule III?
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. |
( `) |
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 |
|
|
a. Long-term Borrowings |
|
|
b. Deferred Tax Liabilities (Net) |
|
|
c. Other Long-term Liabilities |
|
|
d. Long Term Provisions |
|
|
4. Current Liabilities |
|
|
a. Short-term Borrowings |
|
|
b. Trade Payables |
|
|
c. Other Current Liabilities |
|
|
d. Short-term Provisions |
|
|
Total |
|
|
Question 2:
Under which major head will the following be shown:
(i) Share Capital; and (ii) Money Received Against Share Warrants?
Answer:
Items |
Major Head |
Share
Capital |
Shareholder’s
Funds |
Money
received against share warrants |
Shareholder’s
Funds |
Question 3:
List any five items that are shown under Reserves and Surplus.
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.
Question 4:
Under which sub-head will the following be classified or
shown:
(i) Long-term Borrowings; (ii) Deferred Tax Liabilities (Net); and (iii)
Long-term Provision?
Answer:
Items |
Sub-head |
Long-term
Borrowings |
Non-Current
Liabilities |
Deferred
Tax Liabilities (Net) |
Non-Current
Liabilities |
Long-Term
Provisions |
Non-Current
Liabilities |
Question 5:
Name the items that are shown under Long-term Borrowings.
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.
Class : 12th | Ts Grewal solution 2022-2023
Volume 3 | Chapter 1: Financial Statement of A Company
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