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Question No 15 Chapter 4 – UNIMAX Class 12 Part 2 – 2021

Question No 15 Chapter 4 – UNIMAX Class 12 Part 2 – 2021

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Question No 15 Chapter 4 – UNIMAX Class 12 Part 2 – 2021

The following ledger balances were extracted from the books of Varun Ltd. on 31st March, 2022.
Land and Building ₹ 2,00,000; 12% Debenture ₹ 2,00,000; Share capital ₹ 1,00,000 equity shares of ₹ 10 each fully paid up; Plant and Machinery ₹ 8,00,000; Goodwill ₹ 2,00,000; Investment in shares of Raja Ltd. ₹ 2,00,00; Bills Receivable ₹ 50,000 ; Debtors ₹ 1,50,000; Creditors ₹ 1,00,000; Bank loan (Unsecured) ₹ 1,00,000; Provision for Taxation ₹ 50,000; Discount on issue of 12% Debentures ₹ 5,000; Proposed dividend ₹ 55,000; Stock ₹ 1,00,000; General Reserve ₹ 2,00,000.
You are required to prepare the balance sheet of the company as per schedule 3 part od the company Act, 2013.

The solution of Question No 15 Chapter 4 – UNIMAX Class 12 Part 2 – 2021: –

Balance Sheet of Varun Ltd. As At 31st March 2022

Particulars NoteAmount ₹
Shareholder’s fund   
Share capital  10,00,000
Reserve and Surplus   
General reserve  2,00,000
Non-Current Liabilities   
Long term borrowing   
Debenture2,00,000  
Bank loans1,00,000 3,00,000
Current Liabilities   
Trade payable (creditors)  50,000
Short term provisions  22,500
Provision for Taxation   
Proposed dividend55,000  
 55,000 1,05,000
Non-Current Assets  17,05,000
Fixed Assets   
Tangible- Land and building2,00,000  
– Plant8,00,000 10,00,000
Intangible – Goodwill  2,00,000
Non-current investments   
Share in Raja Ltd.  2,00,000
Other Non-Current Assets   
Discount on issue of debentures  5,000
Current Assets   
Investment – Stock  1,00,000
Trade receivable  20,000
Bills receivable50,000  
Debtors1,50,000 2,00,000
Short term loan and advance  Nil
   17,05,000

End of Solution


Check Out the Solution of all questions for this chapter:

The solution to all questions of Chapter No. 4 – Financial Statements of a Company (Balance Sheet Only) Class 12 Unimax is shown as follows, click on the image of the question to get the solution.

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1. Comprehensive Solutions for All Chapters of Advanced Accountancy Part 1 Class 12 by Unimax

UnimaxSolutions.in offers a comprehensive solution for students studying Advanced Accountancy Part 1 in Class 12. With their meticulously curated study material, students can access comprehensive solutions to all the questions in each chapter. By selecting the chapter name from the study material, students can easily navigate through the topics and find detailed explanations and step-by-step solutions to the problems presented in that section. Whether it’s understanding complex accounting concepts, mastering calculation techniques, or analyzing financial statements, Unimax provides a valuable resource to aid students in their learning journey. With these comprehensive solutions at their disposal, students can enhance their understanding, clarify doubts, and improve their problem-solving skills in Advanced Accountancy, ensuring they are well-prepared for their Class 12 examinations.

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UnimaxSolutions.in presents an exceptional resource for students studying Advanced Accountancy Part 2 in Class 12. With their comprehensive study material, students can conveniently access extensive solutions to all the questions in each chapter. By simply selecting the desired chapter from the study material, students can effortlessly navigate through the topics and gain access to detailed explanations and step-by-step solutions to every problem presented in that particular section. Whether it involves understanding intricate accounting principles, honing calculation techniques, or analyzing complex financial statements, Unimax provides a valuable tool to support students in their learning journey. Equipped with these comprehensive solutions, students can enhance their comprehension, resolve any uncertainties, and strengthen their problem-solving abilities in Advanced Accountancy, empowering them to excel in their Class 12 examinations with confidence.

Punjab School Education Board (PSEB) Solutions of Usha Publication.

If you’re a student enrolled in the Punjab School Education Board Class 12, exploring a wide range of books to cover the syllabus thoroughly is essential. While the prescribed textbooks are undoubtedly valuable, supplementing your studies with additional resources can enhance your understanding and knowledge. Consider checking out other books that align with the curriculum, offering different perspectives and insights on the subjects you’re studying. These supplementary materials can provide you with alternative explanations, practice questions, and examples that may aid in clarifying complex concepts. Moreover, exploring diverse sources can expose you to various writing styles and viewpoints, fostering a broader understanding of the subjects. So, seize the opportunity to expand your learning by delving into other books that can complement your studies and contribute to your academic growth.

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