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 |
Click below for more Questions
Ts Grewal Solution 2022-2023
Class 12 / Volume – 3
Chapter 1 – Financial Statement of a Company
Question No. 1 To 5
Question No. 6 To 10
Question No. 11 To 15
Question No. 16 To 20
Question No. 21 To 25
Question No. 26 To 30
Question No. 31 To 33
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12th TS Grewal’s Accountancy Solutions