हिंदी

Show the Following Items in the Balance Sheet as per the Provisions of the Companies Act, 2013 in Schedule Iii:

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प्रश्न

Show the following items in the balance sheet as per the provisions of the Companies Act, 2013 in Schedule III:

Particulars  Rs. Particulars  Rs.
Preliminary Expenses 2,40,000 Good will 30,000
Discount on issue of shares 20,000 Loose tools 12,000
10% Debentures 2,00,000 Motor Vehicles 4,75,000
Stock in Trade 1,40,000 Provision for tax 16,000
Cash at bank 1,35,000    
Bills receivable 1,20,000  
संख्यात्मक
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उत्तर

Extract of Balance Sheet

as at March 31, 2013

Particulars

Note No.

Amount 

(Rs)

I. Equity and Liabilities

 

 

1. Shareholders’ Funds

 

 

a. Share Capital

 

 

b. Reserves and Surplus

 

 

2. Non-Current Liabilities

 

 

  1. Long-term Borrowings

1

2,00,000

3. Current Liabilities

 

 

  1. Other Current Liabilities

 

 

     b. Short-term Provisions

2

16,000

II. Assets

 

 

1. Non-Current Assets

 

 

  1. Fixed Assets

 

 

         i. Tangible Assets

3

4,75,000

        ii. Intangible Assets

4

30,000

     b. Non-Current Investments

 

 

2. Current Assets

 

 

  1. Inventories

5

1,52,000

     b. Trade Receivables

6

1,20,000

     c.Cash and Cash Equivalents

7

1,35,000

    d. Other Current Assets

8

2,60,000

Notes to Accounts

Particulars

Amount

(Rs)

1. Long Term Borrowings

 

10% Debentures

2,00,000

2. Short Term Provisions

 

Provision for Tax

16,000

3. Tangible Assets

 

Motor Vehicles

4,75,000

4. Intangible Assets

 

Goodwill

30,000

5. Inventory

 

Loose Tools

12,000

 

Stock

1,40,000

1,52,000

 

1,52,000

6. Trade Receivables

 

Bill Receivable

1,20,000

7. Cash and Cash equivalents 

 

Cash at Bank

1,35,000

8. Other Current Assets

 

Preliminary Expenses

2,40,000

 

Discount on Issue of Shares

20,000

2,60,000

 

2,60,000

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अध्याय 3: Financial Statements of a Company - Questions for Practice [पृष्ठ १६८]

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एनसीईआरटी Accountancy Company Accounts and Analysis of Financial Statements [English] Class 12
अध्याय 3 Financial Statements of a Company
Questions for Practice | Q 1. | पृष्ठ १६८

वीडियो ट्यूटोरियलVIEW ALL [1]

संबंधित प्रश्न

State any two limitations and any two objectives of  'Analysis of Financial Statement'. 


Name any two financial statements prepared by a not-for-profit organisation. 


Short Answer Question

State the meaning of financial statements?


Long Answer Question

Prepare the format of balance sheet and explain the various elements of balance sheet.


From the following information, prepare the balance sheet of Gitanjali Ltd.

Inventories Rs. 14,00,000; Equity Share Capital Rs. 20,00,000; Plant and Machinery Rs. 10,00,000; Preference Share Capital Rs. 12,00,000; Debenture Redemption Reserve Rs. 6,00,000; Outstanding Expenses Rs. 3,00,000; Proposed Dividend Rs. 5,00,000; Land and Building Rs. 20,00,000; Current Investments Rs. 8,00,000; Cash Equivalent Rs. 10,00,000; Short term loan from Zaveri Ltd. (A Subsidiary Company of Twilight Ltd.) Rs. 4,00,000; Public Deposits Rs. 12,00,000.


From the following information, prepare the balance sheet of Jam Ltd.

Inventories Rs. 7,00,000; Equity Share Capital Rs. 16,00,000; Plant and Machinery Rs. 8,00,000; 8% Preference Share Capital Rs. 6,00,000; General Reserves Rs. 6,00,000; Bills payable Rs. 1,50,000; Provision for taxation Rs. 2,50,000; Land and Building Rs. 16,00,000; Noncurrent Investments Rs. 10,00,000; Cash at Bank Rs. 5,00,000;Creditors Rs. 2,00,000; 12% Debentures Rs. 12,00,000.


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


List any five items that are shown under Reserves and Surplus.


State giving reason whether Trade Payables are classified as Current Liabilities or Non-current Liabilities in the Balance Sheet of a Company as per Schedule III of the Companies Act, 2013 in the following cases:

Case Operating Cycle Period (Months) Expected Payment Period (Months)
1 10 11
2 10 12
3 10 13
4 14 13
5 15 16

State any two items that are included in the following major heads under which liabilities of a company are shown:

(i) Reserves and Surplus;

(ii) Long-term Borrowings; 

(iii)  Short-term Borrowings;

(iv) Other Current Liabilities.


Classify the following items under major head and sub-head (if any) in the Balance Sheet of a company as per Schedule III of the Companies Act, 2013:

(i) Capital Work-in-Progress:

(ii) Provision for Warranties;

(iii) Income received in Advance; and

(iv) Capital Advances


Under which heads the following items on the Assets part of the Balance Sheet of a company will be shown:

  1. Sundry Debtors
  2. Patents and Trademarks
  3. Shares in Quoted Companies
  4. Advances recoverable in cash
  5. Prepaid Insurance and
  6. Work-in-Progress?

Prepare Balance Sheet of VT Ltd. as at 31st March 2026, from the following information as per Schedule III, Part I of the Companies Act, 2013:

  ₹     ₹
General Reserve 3,000   Property, Plant and Equipment (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 700   Other Current Assets 6,400

Identify which of the following items will be shown in the Note to Accounts on Other Expenses?

(i) Salaries;

(ii) Postage Expenses;

(iii) Telephone and Internet Expenses;

(iv) Rent for warehouse;

(v) Carriage Inwards;

(vi) Depreciation on computers;

(vii) Computer Software amortised;

(viii) Computer Hiring Charges;

(ix) Audit fee;

(x) Bonus.


Choose the appropriate alternative from the given options:
Which of the following is a limitation of financial analysis?


The financial statements do not exhibit


Briefly explain any three limitations of financial statements.


Which Indian Companies Act is in force these days?


The Goodwill is not a ________.


Bank overdraft is shown in the balance sheet under the ______.


Which of the following statements are false?

  1. When all the comparative figures in a balance sheet are stated as percentage of the total, it is termed as horizontal analysis.
  2. When financial statements of several years are analysed, it is termed as vertical analysis.
  3. Vertical Analysis is also termed as time series analysis.

Financial statements includes which types of statements are required for external reporting and also for internal needs of the management?


Financial statements are the ______ of information for interested parties.


Consider the following statements.

Statement 1 - "Financial statements are the end products of accounting process"

Statement 2 - "Financial statements are not the end products of accounting process"


For income measurement ______ basis of accounting is followed.


Profit and loss account is also called ______ statement.


Consider the following statements.

Statement 1 - "Recorded facts are based on replacement cost"

Statement 2 - "Recorded facts are not based on replacement cost"


Consider the following statements.

Statement 1 - "Going Concern concept assumes that the enterprise continues for a long period of time."

Statement 2 - "Going Concern concept assumes that the enterprise continues for a shorter period of time."


What are the items shown under the heading 'Miscellaneous expenditure?'


What are the limitations of financial statements?


What are the items shown under the heading of "Investments" in the balance sheet?


Purchase of goods for reselling is shown in the Statement of Profit and Loss under ______.


Securities Premium is shown under which head in the Balance Sheet ?


Rudra, Dev and Shiv were partners in a firm sharing profits in the ratio of 5 : 3 : 2. Their fixed capitals were ₹ 6,00,000, ₹ 4,00,000 and ₹ 2,00,000 respectively. Besides his capital Shiv had given a loan of ₹ 75,000 to the firm. Their partnership deed provided for the following:

  1. Interest on capital @9% p.a.
  2. Interest on partner's drawings @12% p.a.
  3. Salary to Rudra ₹ 30,000 per month and to Dev ₹ 40,000 per quarter.
  4. Interest on Shiv's loan @9% p.a.

During the year Rudra withdrew ₹ 50,000 at the end of each quarter; Dev withdrew ₹ 50,000 in the beginning of each half year and Shiv withdrew ₹ 70,000 at the end of each half year.

The profit of the firm for the year ended 31-3-2022 before allowing interest on Shiv's loan was ₹ 7,06,750.

What will the amount of interest on drawings of the partners?


Rudra, Dev and Shiv were partners in a firm sharing profits in the ratio of 5 : 3 : 2. Their fixed capitals were ₹ 6,00,000, ₹ 4,00,000 and ₹ 2,00,000 respectively. Besides his capital Shiv had given a loan of ₹ 75,000 to the firm. Their partnership deed provided for the following:

  1. Interest on capital @ 9% p.a.
  2. Interest on partner's drawings @ 12% p.a.
  3. Salary to Rudra ₹ 30,000 per month and to Dev ₹ 40,000 per quarter.
  4. Interest on Shiv's loan @ 9% p.a.

During the year Rudra withdrew ₹ 50,000 at the end of each quarter; Dev withdrew ₹ 50,000 in the beginning of each half year and Shiv withdrew ₹ 70,000 at the end of each half year.

The profit of the firm for the year ended 31-3-2022 before allowing interest on Shiv's loan was ₹ 7,06,750.

What will the amount of interest on drawings of the partners?


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