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प्रश्न
Mention the heading and sub-heading under which Vehicles are shown in the Balance Sheet of a company prepared as per Schedule III of the Companies Act, 2013.
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उत्तर
Heading and subheading under which vehicles are shown in balance sheet:
- Heading: Non-current Assets
- Subheading: Fixed Assets - Tangible Assets
APPEARS IN
संबंधित प्रश्न
List any four items that are shown under the sub-heading 'Cash and Cash Equivalents' as per Schedule III of the Companies Act, 2013.
List any four items of 'reserves' that are shown under the heading 'Reserves and Surplus' in the Balance Sheet of a company as per schedule Ill of the Companies Act 2013
C and D are the partner in a firm sharing profits in the ratio of 4:1. On 31.3.2016 their Balance Sheet was as follows :
| Balance Sheet of C and D As on 31.3.2016 |
|||
| Liabilities | Rs | Assets | Rs |
|
Sundry Creditors Provision for Bad debts Outstanding Salary General Reserve
Capitals C 1,20,000 D 80,000 |
40,000 4,000 6,000 10,000
2,00,000 |
Cash Debtors Stock Furniture Plant and Machinery
|
24,000 36,000 40,000 80,000 80,000
|
| 2,60,000 | 2,60,000 | ||
On the above date, E was admitted for 1/4 th share in the profits on the following terms:
1) E will bring 1, 00,000 as his capital and 20,000 for his share of goodwill premium half of which will be withdrawn by C and D.
2) Debtors 2,000 will be written off as bad debts and a provision of 4% will be created on debtors for bad debts and doubtful debts
3) The stock will be reduced by Rs 2,000, furniture will be depreciated by Rs 4,000 and 10% depreciation will be charged on plant and machinery
4) Investments of 7,000 not shown in the Balance Sheet will be taken into account.
5) There was an outstanding repairs bill of Rs 2,300 which will be recorded in the books.
Pass necessary journal entries for the above transactions in the books of the firm on E’s admission.
From the following Balance Sheet as SRS Ltd and the additional information as in 31.3.2016, prepare a Cash Flow Statements :
| Balance Sheet of SRS Ltd as at 31-3-2016 | |||
| Particulars | Note No. |
31-03-2016 Rs |
31-03-2015 Rs |
|
I. Equity and Liabilities 1. Shareholder’s Funds (a) Share Capital (b) Reserve and Surplus 2. Non - Current Liabilities (a) Long-term borrowings 3. Current Liabilities (a) Short-term borrowings (b) Short-term provisions |
1
2
3 4 |
4,50,000 1,25,000
2,25,000
75,000 1,00,000 |
3,50,000 50,000
1,75,000
37,500 62,500 |
| Total | 9,75,000 | 6,75,000 | |
|
II. Assets 1. Non – Current Assets (a) Fixed Assets Tangible assets Intangible (b) Non – Current Investments 2. Current Assets (a) Current Investments (b) Inventories (c) Cash and Cash
|
5 6
7
|
7,32,500 50,000 75,000
20,000 61,000 36,500 |
4,52,500 75,000 50,000
35,000 36,000 26,500 |
| Total | 9,75,000 | 6,75,000 | |
| Note No | Particulars |
31-3-2016 Rs |
31-3-2015 Rs |
|
1
|
Reserve and Surplus (Surplus i.e. Balance in Statement of Profit and Loss) |
1,25,000
|
50,000
|
| 1,25,000 | 50,000 | ||
|
2
|
Long term borrowings : 12 % Debentures |
2,25,000 |
1,75,000 |
| 2,25,000 | 1,75,000 | ||
|
3
|
Short-term borrowings : Bank Overdraft |
75,000 |
37,500 |
| 75,000 | 37,500 | ||
|
4
|
Short-term provisions Provisions for tax |
1,00,000 |
62,500 |
| 1,00,000 | 62,500 | ||
|
5
|
Tangible Assets Machinery Accumulated Depreciation |
8,37,500 (1,05,000) |
5,22,500 (70,000) |
| 7,32,500 | 4,52,500 | ||
|
6
|
Intangible Assets Goodwill |
50,000 |
75,000 |
| 50,000 | 75,000 | ||
|
7
|
Inventories Stock in trade |
61,000 |
36,000 |
| 61,000 | 36,000 |
Additional Information:
1) Rs 50,000, 12% debentures were issued on 31.3.2016
2) During the year a piece of machinery costing Rs40,000 on which accumulated depreciation was Rs 20,000 was sold at a loss of Rs 5,000.
Under which heads the following items will be placed in the Balance Sheet of a company as per Schedule VI part I of the Companies Act, 1956?
(1) Cash in hand
(2) Mining Rights
(3) Short-term deposits
(4) Debenture Redemption Reserve
(5) Income received in advance
(6) The balance of the Statement of Profit and Loss
(7) Office Equipment and
(8) Work-in-progress.
Prepare a Comparative Income Statement from the following information:
|
Particulars |
31.3.2009 Rs |
31.3.2010 Rs |
|
Sales |
40,000 |
50,000 |
|
Cost of goods sold |
30,000 |
35,000 |
|
Wages paid |
16,000 |
14,000 |
|
Operating Expenses |
2,500 |
3,000 |
|
Other Incomes |
2,000 |
3,000 |
|
Income tax |
4,750 |
7,500 |
From the followings Balances Sheet of Vikas Ltd. as on 31.3.2009 and 31.3.2010, prepare a Cash Flow Statement:
|
Liabilities |
31-3-2009 Rs |
31-3-2010 Rs |
Assets |
31-3-2009 Rs |
31-3-2010 Rs |
|
Share Capital |
30,000 |
1,30,000 |
Fixed Assets |
93,400 |
1,66,000 |
|
General Reserve |
30,000 |
55,000 |
Stock |
22,000 |
26,000 |
|
Profit and Loss Account |
20,000 |
30,000 |
Debtors |
36,000 |
39,000 |
|
Trade Creditors |
17,400 |
22,000 |
Cash |
4,000 |
5,000 |
|
|
|
|
Preliminary Expenses |
2,000 |
1,000 |
|
|
1,57,400 |
2,37,000 |
|
1,57,400 |
2,37,400 |
|
|
|
|
|
|
|
Additional Information:
(i) Depreciation charged on fixed assets for the year 2009-2010 was Rs 20,000
(ii) Income Tax Rs 5,000 has been paid in advance during the year.
State under which major headings and sub-headings will the following items be presented in the Balance Sheet of a company as per Schedule-III, Part-I of the Companies Act, 2013.
(i) Prepaid Insurance
(ii) Investments in Debentures
(iii) Calls-in-arrears
(iv) Unpaid dividend
(v) Capital Reserve
(vi) Loose Tools
(vii) Capital work-in-progress
(viii) Patents being developed by the company.
Classify the following items under major heads and sub-heads (if any) in the balance sheet of a company as per Schedule III, part I of the Companies Act, 2013:
- Loans repayable on demand
- Bills Payable
- Patents
Under which major heads and sub-heads will the following items be presented in the Balance Sheet of a Company as per Schedule III, Part I of the Companies Act, 2013:
- Cheques-Drafts on hand
- Work-in-Progress
- Balance in Statement of Profit and Loss
