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12th |  Financial Statement of a Company | Question No.  16 To 20 | Ts Grewal Solution 2022-2023

Question 16:


Under which heads will the following items be shown in the Balance Sheet of a Company

(i) Bank Balance;

(ii) Investments (Long-term);

(iii) Outstanding Salary;

(iv) Subscribed and paid-up Capital;  

(v) Bills Payable;

 

(vi) Unclaimed Dividents;

(vii) Shares Option Outstanding Account;

 

(viii) General Reserve; and

(ix)  Subsidy Reserve?

 

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

 Subscribed and paid-up Capital

Shareholder's Fund

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

 

 

 

Question 17: Under which major heads and sub-heads will the following items be presented in the Balance Sheet of the company as per Schedule Il, Part I of the Companies Act, 2013?


(i) Bank Overdraft

(ii) Subsidy Reserve

(iii) Capital Redemption Reserve

(iv) Mining Rights

(v) Patents

(vi) Debit balance in the Statement of Profit and Loss

(vii) Debenture Redemption Reserve

(vii) Provision for Taxation

(CBSE 2022)

 

Answer:


S. No.

Item

Major Head

Sub-head

(i)

Bank Overdraft

Current Liabilities

Short-term Borrowings

(ii)

Subsidy Reserve

Shareholders' Funds

Reserves and Surplus

(iii)

Capital Redemption Reserve

Shareholders' Funds

Reserves and Surplus

(iv)

Mining Rights

Non-current Assets

Property, Plant and Equipment

(Fixed Assets)-Intangibles Assets

(v)

Patents

Non-current Assets

Property, Plant and Equipment

(Fixed Assets)-Intangibles Assets

(vi)

Debit Balance in the Statement of Profit and Loss

Shareholders' Funds

Reserves and Surplus (as negative amount)

(vii)

Debenture Redemption Reserve

Shareholders' Funds

Reserves and Surplus

(vii)

Provision for Taxation

Current Liabilities

Short-term Provisions

 

 

Question 18:


Under which heads the following are shown in a company's Balance Sheet:

(i) Public Deposits;

(ii) Office Furniture;

(iii) Prepaid Rent;

(iv) Outstanding Salaries;

(v) Computer Software;

(vi) Interest Accrued on Investment?

Answer:


S. No.

Items

Main Head

Sub-Head

1

Public Deposits

Non-Current Liabilities

Long-term Borrowings

2

Office Furniture

Non-Current Assets

Fixed 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

Fixed Assets (Intangible Assets)

6

Interest Accrued on Investment

Current Assets

Other Current Assets

 

 

 

 

 

Question 19:


Under which major headings and sub-headings the following items will be shown in the Balance Sheet of a company as per schedule III of Companies Act, 2013?
(i) Provision for Employee Benefits.
(ii) Calls-in-Advance.

 

Answer:


 

S.No.

Item

Major Head

Sub-head

i)

Provision for Employee Benefit

Non-current Liabilities

Long term Provisions

ii)

Calls-in-Advance

Current Liabilities

Other Current Liabilities

 

Question 20: Under which sub-headings will the following items be placed in the Balance Sheet of a company as per Schedule II, Part I of the Companies Act, 2013?


(i) Prepaid Expenses

(ii) Loose Tools

(iii) Loans Repayable on Demand

(iv) Provision for Employees Benefit

(v) Negative Balance in the Statement of Profit and Loss

(vi) Bank Overdraft

(vii) Bills Receivables

(viii) Trade Marks

(Delhi 2022)

 

Answer:


S. No.

Item

Sub-head

(i)

Prepaid Expenses

Other Current Assets

(i)

Loose Tools

Inventories

(ii)

Loans repayable on Demand

Short-term Borrowings

(iv)

Provision for Employees Benefit

Long-term Provisions

(v)

Negative balance in Statement of Profit and Loss

Reserves and Surplus (as negative amount)

(vi)

Bank Overdraft

Short-term Borrowings

(vi)

Bills Receivables

Trade Receivables

(vii)

Trade Marks

Property, Plant and Equipment (Fixed Assets)Intangible Assets

 

 

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Ts Grewal Solution 2022-2023

Class 12 / Volume – 3

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