Commerce (English Medium) Class 12 - CBSE Question Bank Solutions for Accountancy

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

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?

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.

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?

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.

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? 

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 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 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 Balance 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 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 ?

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 ?