12th | Financial Statement of a Company| Question No.  1 To 5 | Ts Grewal Solution 2022-2023

Question 1:

What are the major heads in the Equity and Liabilities part of the Balance Sheet as per Schedule III?  




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_______


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







Question 2:

Under which major head will the following be shown:

(i) Share Capital; and (ii) Money Received Against Share Warrants?





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.




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?






 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.




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.



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Ts Grewal Solution 2022-2023

Class 12 / Volume – 3

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