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प्रश्न
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.
उत्तर
| Item | Heading | Sub-heading |
| Prepaid Insurance | Current Assets | Other Current Assets |
| Investments in Debentures | Non-Current assets | Non-Current Investments |
| Calls-in-arrears | Shareholder's Funds | Share Capital: Notes to Accounts |
| Unpaid Dividend | Current liabilities | Other Current Liabilities |
| Capital Reserve | Shareholder’s Funds | Reserves and Surplus |
| Loose Tools | Current assets | Inventories |
| Capital work-in-progress | Non-Current Assets | Fixed Assets |
| Patents being developed by the company | Non-Current Assets | Intangible Assets under development |
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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
NK Ltd., a truck manufacturing company, is registered with an authorised capital of Rs 1,00,00,000 divided into equity shares of Rs 100 each. The subscribed and paid up capital of the company is Rs 50,00,000. The company decided to open technical schools in the Jhalawar district of Rajasthan to train the specially-abled children of the area. It is planning to provide them employment in its various production units and industries in the neighbourhood area.
To meet the capital expenditure requirements of the project, the company offered 20,000 shares to the public for subscription. The shares were fully subscribed and paid.
Present the share capital in the Balance Sheet of the company as per the provisions of Schedule III of the Companies Act, 2013. Also, identify any two values that the company wants to communicate.
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.
| Balance Sheet of Sameer, Yasmin and Saloni As on 31.3.2016 |
|||
| Liabilities | Rs | Assets | Rs |
|
Creditors General Reserve Capitals: Sameer 3,00,000 Yasmin 2,50,000 Saloni 1,50,000
|
1,10,000 60,000
7,00,000
|
Cash Debtors 90,000 Less: Provision 10,000 Stock Machinery Building Patents Profit and Loss Account |
80,000
80,000 1,00,000 3,00,000 2,00,000 60,000 50,000 |
| 8,70,000 | 8,70,000 | ||
On the above date, Sameer retired and it was agreed that:
1) Debtors of 4,000 will be written off as bad debts and a provision of 5% on debtors for bad and doubtful debts will be maintained
2) An unrecorded creditor of 20,000 will be recorded.
3) Patents will be completely written off and 5% depreciation will be charged on stock, machinery and
building.
4) Yasmin and Saloni will share future profits in the ratio of 3:2
5) Goodwill of the firm on Sameer’s retirement was valued at Rs 5, 40,000.
Pass necessary journal entries for the above transactions in the books of the firm on Sameer’s retirement
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.
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 |
Under which major heads and sub-heads will the following items be presented in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013?
- Income received in advance
- Computer Software
- Balance of forfeited shares account
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 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
