Commerce Exam > Commerce Questions > From the following information prepare balanc...
Start Learning for Free
From the following information prepare balance sheet. Crediters 1,00,000 General reserve 40,000 Outstanding Interest 28,000 Authorised capital 12,00 000 Paldup capital 788000 Surplus 65000 6% deventure 6,00,000 Bills payable 66,000 Loan and advance 8.5,000 Cash in hand 15,00 cash at bank 69800 Inwest ment 95000 pre ·limi mary expence "Good will 40,000 Building Machinery 6, 60, 000 66,000 Depriciation Deptors 1165,300 10,000 Closing stoke Furniture 14,900?
Most Upvoted Answer
From the following information prepare balance sheet. Crediters 1,00,0...
Balance Sheet
Liabilities
- Creditors: 1,00,000
- Outstanding Interest: 28,000
- 6% Debenture: 6,00,000
- Bills Payable: 66,000
- Loan and Advances: 8,5,000
Equity and Reserves
- General Reserve: 40,000
- Authorized Capital: 12,00,000
- Paid-up Capital: 7,88,000
- Surplus: 65,000
Assets
- Cash in Hand: 15,00
- Cash at Bank: 69,800
- Investment: 95,000
- Preliminary Expenses:
- Goodwill: 40,000
- Building: 6,60,000
- Machinery: 6,60,000
- Depreciation:
- Debtors: 11,65,300
- Closing Stock:
- Furniture: 14,900
Explanation
Liabilities
- Creditors: The amount owed to the creditors is 1,00,000. These are short-term liabilities that need to be paid within a year.
- Outstanding Interest: The outstanding interest payable is 28,000. This represents the interest expense that has accrued but has not been paid yet.
- 6% Debenture: The company has issued 6% debentures worth 6,00,000. These are long-term loans taken by the company.
- Bills Payable: The amount of bills payable is 66,000. These are short-term liabilities that need to be paid within a year.
- Loan and Advances: The company has loans and advances amounting to 8,5,000. These are long-term loans given by the company to others.
Equity and Reserves
- General Reserve: The company has a general reserve of 40,000. This reserve is created out of profits and can be used for various purposes like expansion, dividends, etc.
- Authorized Capital: The authorized capital of the company is 12,00,000. This is the maximum amount of capital that the company is authorized to raise through the issue of shares.
- Paid-up Capital: The company has a paid-up capital of 7,88,000. This is the actual amount of capital that has been received by the company through the issue of shares.
- Surplus: The company has a surplus of 65,000. This represents the excess of income over expenditure.
Assets
- Cash in Hand: The company has 15,00 in cash. This is the amount of cash that is readily available with the company.
- Cash at Bank: The company has 69,800 in cash at the bank. This represents the amount of cash that is held in the bank account.
- Investment: The company has investments worth 95,000. These are long-term investments made by the company.
- Preliminary Expenses: The preliminary expenses are not mentioned in the given information.
- Goodwill: The company has goodwill worth 40,000. Goodwill represents the reputation and brand value of the company.
- Building: The company has a building worth 6,60,000. This is a fixed asset and represents the value
Liabilities
- Creditors: 1,00,000
- Outstanding Interest: 28,000
- 6% Debenture: 6,00,000
- Bills Payable: 66,000
- Loan and Advances: 8,5,000
Equity and Reserves
- General Reserve: 40,000
- Authorized Capital: 12,00,000
- Paid-up Capital: 7,88,000
- Surplus: 65,000
Assets
- Cash in Hand: 15,00
- Cash at Bank: 69,800
- Investment: 95,000
- Preliminary Expenses:
- Goodwill: 40,000
- Building: 6,60,000
- Machinery: 6,60,000
- Depreciation:
- Debtors: 11,65,300
- Closing Stock:
- Furniture: 14,900
Explanation
Liabilities
- Creditors: The amount owed to the creditors is 1,00,000. These are short-term liabilities that need to be paid within a year.
- Outstanding Interest: The outstanding interest payable is 28,000. This represents the interest expense that has accrued but has not been paid yet.
- 6% Debenture: The company has issued 6% debentures worth 6,00,000. These are long-term loans taken by the company.
- Bills Payable: The amount of bills payable is 66,000. These are short-term liabilities that need to be paid within a year.
- Loan and Advances: The company has loans and advances amounting to 8,5,000. These are long-term loans given by the company to others.
Equity and Reserves
- General Reserve: The company has a general reserve of 40,000. This reserve is created out of profits and can be used for various purposes like expansion, dividends, etc.
- Authorized Capital: The authorized capital of the company is 12,00,000. This is the maximum amount of capital that the company is authorized to raise through the issue of shares.
- Paid-up Capital: The company has a paid-up capital of 7,88,000. This is the actual amount of capital that has been received by the company through the issue of shares.
- Surplus: The company has a surplus of 65,000. This represents the excess of income over expenditure.
Assets
- Cash in Hand: The company has 15,00 in cash. This is the amount of cash that is readily available with the company.
- Cash at Bank: The company has 69,800 in cash at the bank. This represents the amount of cash that is held in the bank account.
- Investment: The company has investments worth 95,000. These are long-term investments made by the company.
- Preliminary Expenses: The preliminary expenses are not mentioned in the given information.
- Goodwill: The company has goodwill worth 40,000. Goodwill represents the reputation and brand value of the company.
- Building: The company has a building worth 6,60,000. This is a fixed asset and represents the value
Attention Commerce Students!
To make sure you are not studying endlessly, EduRev has designed Commerce study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Commerce.
|
Explore Courses for Commerce exam
|
|
Similar Commerce Doubts
Top Courses for CommerceView all
From the following information prepare balance sheet. Crediters 1,00,000 General reserve 40,000 Outstanding Interest 28,000 Authorised capital 12,00 000 Paldup capital 788000 Surplus 65000 6% deventure 6,00,000 Bills payable 66,000 Loan and advance 8.5,000 Cash in hand 15,00 cash at bank 69800 Inwest ment 95000 pre ·limi mary expence "Good will 40,000 Building Machinery 6, 60, 000 66,000 Depriciation Deptors 1165,300 10,000 Closing stoke Furniture 14,900?
Question Description
From the following information prepare balance sheet. Crediters 1,00,000 General reserve 40,000 Outstanding Interest 28,000 Authorised capital 12,00 000 Paldup capital 788000 Surplus 65000 6% deventure 6,00,000 Bills payable 66,000 Loan and advance 8.5,000 Cash in hand 15,00 cash at bank 69800 Inwest ment 95000 pre ·limi mary expence "Good will 40,000 Building Machinery 6, 60, 000 66,000 Depriciation Deptors 1165,300 10,000 Closing stoke Furniture 14,900? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about From the following information prepare balance sheet. Crediters 1,00,000 General reserve 40,000 Outstanding Interest 28,000 Authorised capital 12,00 000 Paldup capital 788000 Surplus 65000 6% deventure 6,00,000 Bills payable 66,000 Loan and advance 8.5,000 Cash in hand 15,00 cash at bank 69800 Inwest ment 95000 pre ·limi mary expence "Good will 40,000 Building Machinery 6, 60, 000 66,000 Depriciation Deptors 1165,300 10,000 Closing stoke Furniture 14,900? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for From the following information prepare balance sheet. Crediters 1,00,000 General reserve 40,000 Outstanding Interest 28,000 Authorised capital 12,00 000 Paldup capital 788000 Surplus 65000 6% deventure 6,00,000 Bills payable 66,000 Loan and advance 8.5,000 Cash in hand 15,00 cash at bank 69800 Inwest ment 95000 pre ·limi mary expence "Good will 40,000 Building Machinery 6, 60, 000 66,000 Depriciation Deptors 1165,300 10,000 Closing stoke Furniture 14,900?.
From the following information prepare balance sheet. Crediters 1,00,000 General reserve 40,000 Outstanding Interest 28,000 Authorised capital 12,00 000 Paldup capital 788000 Surplus 65000 6% deventure 6,00,000 Bills payable 66,000 Loan and advance 8.5,000 Cash in hand 15,00 cash at bank 69800 Inwest ment 95000 pre ·limi mary expence "Good will 40,000 Building Machinery 6, 60, 000 66,000 Depriciation Deptors 1165,300 10,000 Closing stoke Furniture 14,900? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about From the following information prepare balance sheet. Crediters 1,00,000 General reserve 40,000 Outstanding Interest 28,000 Authorised capital 12,00 000 Paldup capital 788000 Surplus 65000 6% deventure 6,00,000 Bills payable 66,000 Loan and advance 8.5,000 Cash in hand 15,00 cash at bank 69800 Inwest ment 95000 pre ·limi mary expence "Good will 40,000 Building Machinery 6, 60, 000 66,000 Depriciation Deptors 1165,300 10,000 Closing stoke Furniture 14,900? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for From the following information prepare balance sheet. Crediters 1,00,000 General reserve 40,000 Outstanding Interest 28,000 Authorised capital 12,00 000 Paldup capital 788000 Surplus 65000 6% deventure 6,00,000 Bills payable 66,000 Loan and advance 8.5,000 Cash in hand 15,00 cash at bank 69800 Inwest ment 95000 pre ·limi mary expence "Good will 40,000 Building Machinery 6, 60, 000 66,000 Depriciation Deptors 1165,300 10,000 Closing stoke Furniture 14,900?.
Solutions for From the following information prepare balance sheet. Crediters 1,00,000 General reserve 40,000 Outstanding Interest 28,000 Authorised capital 12,00 000 Paldup capital 788000 Surplus 65000 6% deventure 6,00,000 Bills payable 66,000 Loan and advance 8.5,000 Cash in hand 15,00 cash at bank 69800 Inwest ment 95000 pre ·limi mary expence "Good will 40,000 Building Machinery 6, 60, 000 66,000 Depriciation Deptors 1165,300 10,000 Closing stoke Furniture 14,900? in English & in Hindi are available as part of our courses for Commerce.
Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
Here you can find the meaning of From the following information prepare balance sheet. Crediters 1,00,000 General reserve 40,000 Outstanding Interest 28,000 Authorised capital 12,00 000 Paldup capital 788000 Surplus 65000 6% deventure 6,00,000 Bills payable 66,000 Loan and advance 8.5,000 Cash in hand 15,00 cash at bank 69800 Inwest ment 95000 pre ·limi mary expence "Good will 40,000 Building Machinery 6, 60, 000 66,000 Depriciation Deptors 1165,300 10,000 Closing stoke Furniture 14,900? defined & explained in the simplest way possible. Besides giving the explanation of
From the following information prepare balance sheet. Crediters 1,00,000 General reserve 40,000 Outstanding Interest 28,000 Authorised capital 12,00 000 Paldup capital 788000 Surplus 65000 6% deventure 6,00,000 Bills payable 66,000 Loan and advance 8.5,000 Cash in hand 15,00 cash at bank 69800 Inwest ment 95000 pre ·limi mary expence "Good will 40,000 Building Machinery 6, 60, 000 66,000 Depriciation Deptors 1165,300 10,000 Closing stoke Furniture 14,900?, a detailed solution for From the following information prepare balance sheet. Crediters 1,00,000 General reserve 40,000 Outstanding Interest 28,000 Authorised capital 12,00 000 Paldup capital 788000 Surplus 65000 6% deventure 6,00,000 Bills payable 66,000 Loan and advance 8.5,000 Cash in hand 15,00 cash at bank 69800 Inwest ment 95000 pre ·limi mary expence "Good will 40,000 Building Machinery 6, 60, 000 66,000 Depriciation Deptors 1165,300 10,000 Closing stoke Furniture 14,900? has been provided alongside types of From the following information prepare balance sheet. Crediters 1,00,000 General reserve 40,000 Outstanding Interest 28,000 Authorised capital 12,00 000 Paldup capital 788000 Surplus 65000 6% deventure 6,00,000 Bills payable 66,000 Loan and advance 8.5,000 Cash in hand 15,00 cash at bank 69800 Inwest ment 95000 pre ·limi mary expence "Good will 40,000 Building Machinery 6, 60, 000 66,000 Depriciation Deptors 1165,300 10,000 Closing stoke Furniture 14,900? theory, EduRev gives you an
ample number of questions to practice From the following information prepare balance sheet. Crediters 1,00,000 General reserve 40,000 Outstanding Interest 28,000 Authorised capital 12,00 000 Paldup capital 788000 Surplus 65000 6% deventure 6,00,000 Bills payable 66,000 Loan and advance 8.5,000 Cash in hand 15,00 cash at bank 69800 Inwest ment 95000 pre ·limi mary expence "Good will 40,000 Building Machinery 6, 60, 000 66,000 Depriciation Deptors 1165,300 10,000 Closing stoke Furniture 14,900? tests, examples and also practice Commerce tests.
|
|
Explore Courses for Commerce exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup