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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.
उत्तर
Cash and Cash Equivalents include the following items.
i. Balances with Bank
ii. Cheques and drafts-on-hand
iii. Cash on hand
iv. Others, including any short term investments
संबंधित प्रश्न
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
Prepare a common size Balance Sheet of KJ Ltd. from the following information:
| Particular | Note No. |
31-3-2017 Rs |
31-3-2016 Rs |
|
I. Equity and Liabilities 1. Shareholders' Funds 2. Non-current Liabilities 3. Current Liabilities Total II. Assets 1. Non- Current Assets 2. Current Assets Total
|
8,00,000 5,00,000 3,00,000 16,00,000
10,00,000 6,00,000 16,00,000 |
4,00,000 2,00,000 2,00,000 8,00,000
5,00,000 3,00,000 8,00,000 |
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.
Tractors India Ltd. is registered with an authorized capital of Rs10,00,000 divided into 1,00,000 equity shares of Rs 10 each. The company issued 50,000 equity shares at a premium of Rs 5 per share. Rs 2 per share were payable with the application, Rs 8 per share including premium on the allotment and the balance amount on first and final call. The issue was fully subscribed and all the amount due was received except the first and final call money on 500 shares allotted to Balaram. Present the 'Share Capital in the Balance Sheet of Tractors India Ltd. as per Schedule VI Part I of the Companies Act, 1956, Also prepare Notes to Accounts for the same.
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.
Following is the Balance Sheets of Solar Power Ltd as at 31.3.2014 :
| Solar Power Ltd. Balance Sheet |
|||
| Particulars | Note No. |
31-3-2014 Rs |
31-3-2014 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. Trade Payables b. Short Term Provisions |
24,00,000 6,00,000
4,80,000
3,58,000 1,00,000 |
22,00,000 4,00,000
3,40,000
4,08,000 1,54,000 |
|
| Total | 39,38,000 | 35,02,000 | |
|
II. Assets 1. Non – Current Assets a) Fixed Assets (i) Tangible assets (ii) Intangible b) Non – Current Investments 2. Current Assets a) Current Investment b) Inventories c) Trade Receivables d)Cash and Cash |
21,40,000 80,000
4,80,000 2,58,000 3,40,000 6,40,000 |
17,00,000 2,24,000
3,00,000 2,42,000 2,86,000 7,50,000 |
|
| Total | 39,38,000 | 35,02,000 | |
Notes to Accounts
| Note No |
Particulars | As On 31-3-2014 |
As On 31-3-2013 |
|
1
|
Reserve and Surplus (Surplus i.e. Balance in Statement of Profit and Loss) |
6,00,000
|
4,00,000
|
|
2
|
Tangible Assets Machinery Less: Accumulated Depreciation |
25,40,000 (4,00,000) |
20,00,000 (3,00,000) |
|
3
|
Intangible Assets Goodwill |
80,000 |
2,24,0000 |
Additional Information:-
During the year a piece of machinery, costing Rs 48,000 on which accumulated depreciation was Rs 32,000, was sold at Rs 12,000.
Prepare Cash Flow Statement.
List the items which are shown under the heading current liabilities and provisions as per Schedule VI Part-I of the Companies’ Act,1956.
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 |
Name an item which is never shown on the ‘Payments’ side of ‘Receipts and Payments Account’, but is shown as an Expenses while preparing ‘Income and Expenditure Account’
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-head (if any) in the Balance Sheet of a Company as per schedule III of the Companies Act 2013.
- Current maturities of long-term debts
- Furniture and Fixtures
- Provision for Warranties
- Income received in advance
- Capital Advances
- Advances recoverable in cash within the operation cycle
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
Name the major heads and sub-heads under which the following items will be presented in the Balance Sheet of a company as per Schedule III, Part I of the Companies Act, 2013 :
- Goodwill
- Debenture Redemption Reserve
- Licenses and Franchise
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
Under which heads and sub-heads the following items will appear in the Balance Sheet of Company as per Schedule III, Part-I of the Companies Act, 2013:
- Loose tools
- Calls-in-Advance
- Capital Reserve
Classify the following items under Major heads and Sub heads (If any) in the balance sheet of a Company as per schedule III of the Companies Act 2013.
- Loose Tools
- Loan repayable on demand
- Provision for Retirement benefits
- Pre-paid Insurance
- Capital advances
- Shares in Listed Companies
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.
