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Read the following information and answer the given questions:
Pinnacle Instruments Ltd. registered itself with a capital of ₹ 20,00,000 divided into Equity Shares of ₹100 each. On 1st June, 2015, the company issued 5,000 Equity Shares as fully paid to Mila Herbals, as purchase consideration for the purchase of plant and machinery. The remaining shares were issued to the public at par. Till the date of the Balance Sheet, the directors had called from the public, 60% of the nominal value of the shares. The amount called was received by the company.
Where will the Plant and Machinery be shown in the balance sheet?
- a)In non-current asset
- b)In fixed assets
- c)In tangible assets
- d)All of the above
Correct answer is option 'D'. Can you explain this answer?
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Most Upvoted Answer
Read the following information and answer the given questions:Pinnacl...
Plant and Machinery in Balance Sheet
Plant and Machinery will be shown in the balance sheet under various categories such as:
Non-current Assets
- Plant and Machinery fall under the category of non-current assets as they are long-term assets used in the production process and are not intended for resale. They are expected to provide economic benefits to the company for more than one accounting period.
Fixed Assets
- Plant and Machinery are considered fixed assets as they are tangible assets used by the company in its operations to generate revenue. They have a physical substance and are used for the production of goods or services.
Tangible Assets
- Plant and Machinery are tangible assets because they have a physical form and can be touched or seen. They are used in the production process of the company and contribute to its operational activities.
Therefore, Plant and Machinery will be shown in the balance sheet under all of the above categories - non-current assets, fixed assets, and tangible assets. These assets are essential for the company's operations and play a crucial role in its business activities.
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Read the following information and answer the given questions:Pinnacl...
Property, plant and equipment is the long-term asset or noncurrent asset section of the balance sheet that reports the tangible, long-lived assets that are used in the company's operations. These assets are commonly referred to as the company's fixed assets or plant assets.
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Read the following information and answer the given questions:Pinnacle Instruments Ltd. registered itself with a capital of ₹ 20,00,000 divided into Equity Shares of ₹100 each. On 1st June, 2015, the company issued 5,000 Equity Shares as fully paid to Mila Herbals, as purchase consideration for the purchase of plant and machinery. The remaining shares were issued to the public at par. Till the date of the Balance Sheet, the directors had called from the public, 60% of the nominal value of the shares. The amount called was received by the company.Where will the Plant and Machinery be shown in the balance sheet?a)In non-current assetb)In fixed assetsc)In tangible assetsd)All of the aboveCorrect answer is option 'D'. Can you explain this answer?
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Read the following information and answer the given questions:Pinnacle Instruments Ltd. registered itself with a capital of ₹ 20,00,000 divided into Equity Shares of ₹100 each. On 1st June, 2015, the company issued 5,000 Equity Shares as fully paid to Mila Herbals, as purchase consideration for the purchase of plant and machinery. The remaining shares were issued to the public at par. Till the date of the Balance Sheet, the directors had called from the public, 60% of the nominal value of the shares. The amount called was received by the company.Where will the Plant and Machinery be shown in the balance sheet?a)In non-current assetb)In fixed assetsc)In tangible assetsd)All of the aboveCorrect answer is option 'D'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Read the following information and answer the given questions:Pinnacle Instruments Ltd. registered itself with a capital of ₹ 20,00,000 divided into Equity Shares of ₹100 each. On 1st June, 2015, the company issued 5,000 Equity Shares as fully paid to Mila Herbals, as purchase consideration for the purchase of plant and machinery. The remaining shares were issued to the public at par. Till the date of the Balance Sheet, the directors had called from the public, 60% of the nominal value of the shares. The amount called was received by the company.Where will the Plant and Machinery be shown in the balance sheet?a)In non-current assetb)In fixed assetsc)In tangible assetsd)All of the aboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the following information and answer the given questions:Pinnacle Instruments Ltd. registered itself with a capital of ₹ 20,00,000 divided into Equity Shares of ₹100 each. On 1st June, 2015, the company issued 5,000 Equity Shares as fully paid to Mila Herbals, as purchase consideration for the purchase of plant and machinery. The remaining shares were issued to the public at par. Till the date of the Balance Sheet, the directors had called from the public, 60% of the nominal value of the shares. The amount called was received by the company.Where will the Plant and Machinery be shown in the balance sheet?a)In non-current assetb)In fixed assetsc)In tangible assetsd)All of the aboveCorrect answer is option 'D'. Can you explain this answer?.
Read the following information and answer the given questions:Pinnacle Instruments Ltd. registered itself with a capital of ₹ 20,00,000 divided into Equity Shares of ₹100 each. On 1st June, 2015, the company issued 5,000 Equity Shares as fully paid to Mila Herbals, as purchase consideration for the purchase of plant and machinery. The remaining shares were issued to the public at par. Till the date of the Balance Sheet, the directors had called from the public, 60% of the nominal value of the shares. The amount called was received by the company.Where will the Plant and Machinery be shown in the balance sheet?a)In non-current assetb)In fixed assetsc)In tangible assetsd)All of the aboveCorrect answer is option 'D'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Read the following information and answer the given questions:Pinnacle Instruments Ltd. registered itself with a capital of ₹ 20,00,000 divided into Equity Shares of ₹100 each. On 1st June, 2015, the company issued 5,000 Equity Shares as fully paid to Mila Herbals, as purchase consideration for the purchase of plant and machinery. The remaining shares were issued to the public at par. Till the date of the Balance Sheet, the directors had called from the public, 60% of the nominal value of the shares. The amount called was received by the company.Where will the Plant and Machinery be shown in the balance sheet?a)In non-current assetb)In fixed assetsc)In tangible assetsd)All of the aboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the following information and answer the given questions:Pinnacle Instruments Ltd. registered itself with a capital of ₹ 20,00,000 divided into Equity Shares of ₹100 each. On 1st June, 2015, the company issued 5,000 Equity Shares as fully paid to Mila Herbals, as purchase consideration for the purchase of plant and machinery. The remaining shares were issued to the public at par. Till the date of the Balance Sheet, the directors had called from the public, 60% of the nominal value of the shares. The amount called was received by the company.Where will the Plant and Machinery be shown in the balance sheet?a)In non-current assetb)In fixed assetsc)In tangible assetsd)All of the aboveCorrect answer is option 'D'. Can you explain this answer?.
Solutions for Read the following information and answer the given questions:Pinnacle Instruments Ltd. registered itself with a capital of ₹ 20,00,000 divided into Equity Shares of ₹100 each. On 1st June, 2015, the company issued 5,000 Equity Shares as fully paid to Mila Herbals, as purchase consideration for the purchase of plant and machinery. The remaining shares were issued to the public at par. Till the date of the Balance Sheet, the directors had called from the public, 60% of the nominal value of the shares. The amount called was received by the company.Where will the Plant and Machinery be shown in the balance sheet?a)In non-current assetb)In fixed assetsc)In tangible assetsd)All of the aboveCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce.
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Read the following information and answer the given questions:Pinnacle Instruments Ltd. registered itself with a capital of ₹ 20,00,000 divided into Equity Shares of ₹100 each. On 1st June, 2015, the company issued 5,000 Equity Shares as fully paid to Mila Herbals, as purchase consideration for the purchase of plant and machinery. The remaining shares were issued to the public at par. Till the date of the Balance Sheet, the directors had called from the public, 60% of the nominal value of the shares. The amount called was received by the company.Where will the Plant and Machinery be shown in the balance sheet?a)In non-current assetb)In fixed assetsc)In tangible assetsd)All of the aboveCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for Read the following information and answer the given questions:Pinnacle Instruments Ltd. registered itself with a capital of ₹ 20,00,000 divided into Equity Shares of ₹100 each. On 1st June, 2015, the company issued 5,000 Equity Shares as fully paid to Mila Herbals, as purchase consideration for the purchase of plant and machinery. The remaining shares were issued to the public at par. Till the date of the Balance Sheet, the directors had called from the public, 60% of the nominal value of the shares. The amount called was received by the company.Where will the Plant and Machinery be shown in the balance sheet?a)In non-current assetb)In fixed assetsc)In tangible assetsd)All of the aboveCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of Read the following information and answer the given questions:Pinnacle Instruments Ltd. registered itself with a capital of ₹ 20,00,000 divided into Equity Shares of ₹100 each. On 1st June, 2015, the company issued 5,000 Equity Shares as fully paid to Mila Herbals, as purchase consideration for the purchase of plant and machinery. The remaining shares were issued to the public at par. Till the date of the Balance Sheet, the directors had called from the public, 60% of the nominal value of the shares. The amount called was received by the company.Where will the Plant and Machinery be shown in the balance sheet?a)In non-current assetb)In fixed assetsc)In tangible assetsd)All of the aboveCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Read the following information and answer the given questions:Pinnacle Instruments Ltd. registered itself with a capital of ₹ 20,00,000 divided into Equity Shares of ₹100 each. On 1st June, 2015, the company issued 5,000 Equity Shares as fully paid to Mila Herbals, as purchase consideration for the purchase of plant and machinery. The remaining shares were issued to the public at par. Till the date of the Balance Sheet, the directors had called from the public, 60% of the nominal value of the shares. The amount called was received by the company.Where will the Plant and Machinery be shown in the balance sheet?a)In non-current assetb)In fixed assetsc)In tangible assetsd)All of the aboveCorrect answer is option 'D'. Can you explain this answer? tests, examples and also practice Commerce tests.
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