TS Grewal solutions for Accountancy - Analysis of Financial Statements [English] Class 12 chapter 1 - Financial Statements of a Company [Latest edition]

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

Under which major head will the following be shown:

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

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

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?

Name the itmes that are shown under Long-term Borrowings.

A company has an opening credit balance in Surplus, i.e., Balance in Statement of Profit and Loss of ₹ 1,00,000. During the year, it earned a profit of ₹ 75,000. It decided to transfer ₹ 15,000 to Debentures Redemption Reserve (DRR) and also proposed to pay dividend of ₹ 25,000.
How will be the appropriations shown in the financial statements? 

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

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

Under which head and how are the following items shown in the Balance Sheet of a company under Schedule III:

(i) Calls-in-Arrears;  (ii)  Share Application Money Pending Allotment; (iii) Unpaid Dividend; and (iv) Dividend not paid on Cumulative Preference Shares?

Under which main head and sub-head of Equity and Liabilities part of the Balance Sheet are the following items classified or shown:
(i) Bonds

(ii) Debentures

(iii) Public Deposits

(iv) Capital Redemption Reserve

(v) Forfeited Shares Accounts

(vi) Sundry Creditors and

(vii) Interest Accrued but not Due on Debentures ?

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 major head and sub-head of the Assets part of the Balance Sheet will the following be shown:

(i) Intangible Assets; (ii) Intangible Assets under Development; (iii) Investments (more than 12 months); (iv) Deferred Tax Assets (Net); (v) Stores and Spares; and (vi) Loose Tools?

Under which heads the following items are classified or shown on the Assets part of the Balance Sheet of a copany: (i) Loose Tools; (ii) Bills Receivable; (iii) Sundry Debtors: and (iv) Advances Recoverable in Cash?

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

(i) Sundry Debtors

(ii) Patents and Trademarks

(iii) Shares in Quoted Companies

(iv) Advances recoverable in cash

(v) Prepaid Insurance and

(vi) Worl-in-Progress (Machinery)?

Under which of the major heads will the following items be shown while preparing Balance Sheet of a company, as per Schedule III of the Companies Act, 2013:

(i) Unamortised Loss on Issue of Debentures (To be written off after 12 months from the date of Balance Sheet)

(ii) 10% Debentures

(iii) Stock-in-Trade

(iv) Cash at Bank

(v) Bills Receivable

(vi) Goodwill

(vii) Loose Tools

(viii) Truck

(ix)  Provision for Tax; and

(x) Sundry Creditors?

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) Authorised Capital

(v) Bills Payable

(vi) Unclaimed Dividents

(vii) Shares Option Outstanding Account

(viii) General Reserve; and

(ix) Subsidy Reserve?

Under which heads the following items are shown in the Balance Sheet of a company:

(i) Calls-in-Arrears

(ii) Commission Received in Advance

(iii) Debentures

(iv) Stores and Spare Parts

(v) Land and Building

(vi) Forfeited Shares Account?

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?

Name the major heads under which the following items will be presented in the Balance Sheet of a company as per Schedule III of the Companies Act, 2013:

(i) Loose Tools

(ii) Unpaid Dividend

(iii) Copyrights and Patents.

(iv) Land and Building

Identify the major heads under which the following items will be shown in the Balance Sheet of a company as per Schedule III of Companies Act, 2013:

(i) Provision for Tax

(ii) Loan payable on demand

(iii) Computer and related equipment

(iv) Goods acquired for trading

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.

How are the following items shown while preparing Balance Sheet of a company:

(i) Surplus, i.e., Balance in Statement of Profit and Loss (Dr.);
(ii) Interest accrued and due on Debentures;
(iii) Computer Software under development;
(iv) Interest accrued on Investment? 

Hero Ltd. has raised following long-term loans on 1st April, 2018:

How will be the above items shown in the Balance Sheet of the company as at 31st March, 2019?

Totalling of Balance Sheet is not required

Prepare Balance Sheet of VT Ltd. as at 31st March 2019, from the following information as per Schedule III, Part I of the Companies Act, 2013:  

From the following information extracted from the books of Howrach Ltd., prepare Balance Sheet of the company as at 31st March, 2019 as per Schedule III of the Companies Act, 2013:

Prepare Balance Sheet of HP Ltd. as at 31st March, 2019 from the following information:

Under which head following revenue items of a non-financial company will be classified or shown:

(i) Sales;

(ii) Revenue from Services Rendered;

(iii) Sale of Scrap;

(iv) Interest Earned on Loans; and

(v) Gain (profit) on Sale of Investments?

Under which head following revenue items of a financial company will be classified or shown:
(i) Gain (Profit) on Sale of Building;

(ii) Revenue from Project Consultancy Rendered;

(iii) Sale of Scrap;

(iv) Interest earned on Loans; and

(v) Gain (Profit) on sale of Investments?

Under which head following revenue items of non-financial company will be classified or shown:

(i) Gain (Profit) on Sale of Fixed Asset;

(ii) Fee Received for Arranging Loans;

(iii) Interest on Loans Given;

(iv) Gain (Profit) on Sale of Investments and

(v) Sale of Miscellaneous Items?

Calculate Cost of Materials Consumed from the following:
Opening Inventory of Materials ₹5,00,000; Purchase of Materials ₹25,00,000; and Closing Inventory of Materials ​₹4,00,000.

Calculate Cost of Materials Consumed from the following:

Opening Inventory of Materials ₹2,50,000; Finished Goods ₹1,00,000; Closing Inventory of Materials ₹2,25,000; Finished Goods ₹75,000; Raw Material purchased during the year ₹15,00,000.

Calculate Cost of Materials Consumed from the following:
Opening Inventory of Materials ₹3,50,000; Finished Goods ₹75,000; Stock-in-Trade ₹2,00,000; Closing Inventory of: Materials ₹3,25,000; Finished Goods ₹85,000; Stock-in-Trade ₹1,50,000; Purchases during the year: Raw Material ₹17,50,000; Stock-in-Trade ₹9,00,000.

From the following information, calculate Change in Inventory of Finished Goods: Opening Inventory and Closing Inventory of Finished Goods ₹2,00,000 and ₹1,75,000 respectively.

From the following information, calculate Change in Inventory of Finished Goods: Opening Inventory and Closing Inventory of Finished Goods ₹2,50,000 and ₹2,00,000 respectively.

From the following information, calculate Change in Inventory of Work-in-Progress: Opening and Closing Work-in-Progress ₹1,00,000 and ₹1,15,000 respectively.

From the following information, calculate Change in Inventory of Work-in-Progress:

Opening and Closing Work-in-Progress ₹1,50,000 and ₹1,45,000 respectively.

From the following information, calculate Change in Inventory of Stock-in-Trade: Opening and Closing Stock-in-Trade ₹5,00,000 and ₹4,50,000 respectively.

From the following information, calculate Change in Inventory of Stock-in-Trade: Opening and Closing Stock-in-Trade ₹5,00,000 and ₹4,00,000 respectively.

From the following information of Hospitality Ltd. for the year ended 31st March, 2018, calculate amount that will be shown in the Note to Accounts on Changes in inventiories of Finished Goods, WIP  and stock-in-Trade:

From the following information compute the amount to be shown in Note to Accounts on Employees Benefit Expenses: Wages ₹ 5,40,000; Salaries ₹ 7,20,000; bonus ₹ 1,05,000; Staff Welfare Expenses ₹ 60,000 and Business Promotion Expenses ₹ 50,000.

From the following information, prepare Note to Accounts on Employees Benefit Expenses:
Wages ₹ 2,70,000; Salaries ₹ 3,60,000; Staff Welfare Expenses 60,000; Printing and Stationery Expenses ₹ 20,000 and Business Promotion Expenses ₹ 50,000.

Out of the Following, identify the items that are shown in the Note to Accounts on Finance Costs:
(i) Interest paid on Borrowing from prince Finance Ltd.;
(ii) Interest paid on Term Loan to Bank;
(iii) Interest paid on Public Deposits;
(iv) Loss on Issue of Debentures Written off; and
(v) Bank Charges.

From the following information, prepare Note to Accounts on Finance Costs: Interest paid to Bank ₹ 75,000; Interest on Debentures ₹ 58,000; Loss on issue of Debentures written off ₹ 27,500; and Commitment Charges ₹ 15,000.

From the following information of Best Marketing Ltd. for the year ended 31st March, 2019 prepare Note to Accounts on Depreciation and Amortisation Expenses:
Depreciation on: Building ₹ 15,500; Plant and Machinery ₹ 25,000; Computers ₹ 60,000; Goodwill written off ₹ 7,500; Patents written off ₹ 12,500.

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.

Under which line item (major head) of the Statement of Profit and Loss of non-financial company will the following be shown:
(i) Sale of Goods;

(ii) Revenue from Services Rendered;

(iii) Interest Earned;

(iv) Gain (Profit) on Sale of Assets;

(v) Purchases of Stock-in-Trade;

(vi) Salaries and Wages;

(vii) Interest paid to Bank;

(viii) Carriage Outward?

Under which line item (major head) of the Statement of Profit and Loss of a financial company will the following be shown:
(i) Interest on Loans Given:

(ii) Gain (Profit) on Sale of Securities;

(iii) Loss on Sale of Fixed Assets;

(iv) Interest paid on Deposits;

(v) Depreciation on Computers;

(vi) Goodwill Written off;

(vii) Commission paid for Deposit Mobilisation; and

(viii) Repairs Expenses?

Under which line item of the financial statements following items will be shown:
(i) Sales;

(ii) Loss on Sale of Vehicle;

(iii) Debentures;

(iv) Unamortised Loss on Issue of Debentures (to be written off within 12 months of the date of Balance Sheet);

(v) Encashable Leave Payable at the Time of Retirement;

(vi) Tax Reserve;

(vii) Carriage on Purchases of Stock-in-Trade; and

(viii) Telephone and Internet Expenses?

State under which major headings and sub-headings the following items will be presented in the Balance Sheet of a company as per Schedule III of the Companies Act, 2013:
(i) Capital Reserve;
(ii) Calls-in-Advance;
(iii) Loose Tools; and
(iv) Bank overdraft.