Welcome to the NCERT Solutions for Class 12 Accountancy - Company Accounts and Analysis of Financial Statements - Chapter Financial Statements of a Company. This page offers a step-by-step solution to the specific question from Exercise 1, Question 5: . With detailed answers and explanations for each chapter, students can strengthen their understanding and prepare confidently for exams. Ideal for CBSE and other board students, this resource will simplify your study experience.
How will you disclose the following items in the Balance Sheet of a company;
(i) Loose tools
(ii) Uncalled liability on partly paid-up shares
(iii) Debentures redemption reserve
(iv) Mastheads and publishing titles (v) 10% debentures
(vi) Proposed dividend
(vii) Share forfeited account
(viii) Capital redemtion reserve
(ix) Mining rights
(x) Work-in-progress
Disclosure of various items in the Balance Sheet of a company is given below.
|
Items |
Main Head |
Sub-Head |
|
|
(i) |
Loose Tools |
Current Assets |
Inventories |
|
(ii) |
Uncalled liability on partly paid-up shares |
Contingent Liability and Capital Commitments |
Capital Commitments |
|
(iii) |
Debentures Redemption Reserve |
Shareholders’ Funds |
Reserve and surplus |
|
(iv) |
Mastheads and publishing titles |
Non-Current Assets |
Fixed Assets – Intangible assets |
|
(v) |
10% debentures |
Non-Current Liabilities |
Long-Term Borrowings |
|
(vi) |
Proposed dividend |
Current Liabilities |
Short-Term Provisions |
|
(vii) |
Share forfeited account |
Shareholders’ Funds |
Subscribed Capital (to be added) |
|
(viii) |
Capital Redemption Reserve |
Shareholders’ Funds |
Reserve and surplus |
|
(ix) |
Mining Rights |
Non-Current Assets |
Fixed Assets – Intangible assets |
|
(x) |
Work-in-progress |
Current Assets |
Inventories |
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