Commerce Exam > Commerce Notes > Additional Study Material for Commerce > NCERT Solution (Part - 2) - Finacial Statements of a Company
NCERT Solution (Part - 2) - Finacial Statements of a Company | Additional Study Material for Commerce PDF Download
Page No 173:
Question 1: Show the following items in the balance sheet as per the provisions of the Companies Act, 2013 in Schedule III:
ANSWER:
Notes to Accounts 
Page No 174:
Question 2: On 1st Aril, 2017, Jumbo Ltd. issued 10,000; 12% debentures of Rs. 100 each a discount of 20%, redeemable after 5 years. The company decided to write-off discount on issue of such debentures over the life time of the Debentures. Show the items in the balance sheet of the company immediately after the issue of these debentures.
ANSWER:
Notes to Accounts 
Question 3: From the following information prepare the balance sheet of Gitanjali Ltd., as per the (Revised) Schedule VI:
Inventories Rs. 14,00,000; Equity Share Capital Rs. 20,00,000; Plant and Machinery Rs. 10,00,000; Preference Share Capital Rs. 12,00,000; Debenture Redemption Reserve Rs. 6,00,000; Outstanding Expenses Rs. 3,00,000; Proposed Dividend Rs. 5,00,000; Land and Building Rs. 20,00,000; Current Investments Rs. 8,00,000; Cash Equivalent Rs. 10,00,000; Short term loan from Zaveri Ltd. (A Subsidiary Company of Twilight Ltd.) Rs. 4,00,000; Public Deposits Rs. 12,00,000.
ANSWER:
Question 4: From the following information prepare the balance sheet of Jam Ltd. as per the (revised) Schedule VI:
Inventories Rs. 7,00,000; Equity Share Capital Rs. 16,00,000; Plant and Machinery Rs. 8,00,000; Preference Share Capital Rs. 6,00,000; General Reserves Rs. 6,00,000; Bills payable Rs. 1,50,000; Provision for taxation Rs. 2,50,000; Land and Building Rs. 16,00,000; Noncurrent Investments Rs. 10,00,000; Cash at Bank Rs. 5,00,000;Creditors Rs. 2,00,000; 12% Debentures Rs. 12,00,000.
ANSWER:
Question 5: Prepare the balance sheet of Jyoti Ltd. as at March 31, 2017 from the following information:
Building Rs. 10,00,000; Investments in the shares of Metro Tyers Rs. 3,00,000; Stores & Spares Rs. 1,00,000; Discount on issue of 10% debentures Rs. 10,000; Statement of Profit and Loss (Dr.) Rs. 90,000; 5,00,000 Equity Shares of Rs. 20 each fully paid-up; Capital Redemption Reserve Rs. 1,00,000; 10% Debentures Rs. 3,00,000; Unpaid dividends Rs. 90,000; Share options outstanding account Rs. 10,000.
ANSWER:
*Note: There is a misprint in the book. The number of equity shares issued must be 50,000 so that both the sides of the Balance Sheet stand equal.
Question 6: Brinda Ltd. has furnished the following information:
(a) 25,000, 10% debentures of Rs. 100 each;
(b) Bank Loan of Rs. 10,00,000 repayable after 5 years;
(c) Interest on debentures is yet to be paid.
Show the above items in the balance sheet of the company as at March 31, 2017.
ANSWER:
Page No 175:
Question 7: Prepare a balance sheet of Black Swan Ltd., as at March 31, 2017 form the following information:
ANSWER:
The document NCERT Solution (Part - 2) - Finacial Statements of a Company | Additional Study Material for Commerce is a part of the Commerce Course Additional Study Material for Commerce.
All you need of Commerce at this link: Commerce
|
4 videos|168 docs
|
FAQs on NCERT Solution (Part - 2) - Finacial Statements of a Company - Additional Study Material for Commerce
| 1. What are financial statements of a company? |  |
Ans. Financial statements of a company are documents that provide information about the financial activities, performance, and position of a company. These statements include the balance sheet, income statement, cash flow statement, and statement of changes in equity. They are essential for investors, creditors, and other stakeholders to assess the company's financial health and make informed decisions.
| 2. What is the purpose of financial statements? | |
Ans. The purpose of financial statements is to provide relevant and reliable information about a company's financial performance and position. These statements help stakeholders, such as investors, lenders, and suppliers, in making decisions regarding their involvement with the company. Financial statements also assist management in assessing the company's performance, identifying areas of improvement, and making strategic decisions.
| 3. How often are financial statements prepared? | |
Ans. Financial statements are typically prepared on a quarterly and annual basis. Quarterly financial statements provide an interim snapshot of a company's financial performance and position, while annual financial statements provide a comprehensive overview for the entire fiscal year. Publicly listed companies are required to publish their financial statements at regular intervals, while private companies may prepare them as per their internal reporting requirements.
| 4. What is the difference between the balance sheet and income statement? | |
Ans. The balance sheet and income statement are two crucial financial statements that present different aspects of a company's financial information.
The balance sheet provides a snapshot of a company's financial position at a specific point in time. It includes assets (what the company owns), liabilities (what the company owes), and shareholders' equity (the residual interest in the company's assets after deducting liabilities). It helps evaluate the company's liquidity, solvency, and financial stability.
On the other hand, the income statement (also known as the profit and loss statement) presents the company's financial performance over a specific period, such as a quarter or a year. It shows the revenues generated, expenses incurred, and the resulting net profit or loss. The income statement helps assess the company's profitability and ability to generate earnings.
| 5. How do financial statements help investors in decision-making? | |
Ans. Financial statements play a crucial role in assisting investors in making informed investment decisions. These statements provide valuable information about a company's financial health and potential risks and returns. By analyzing financial statements, investors can evaluate the company's profitability, liquidity, solvency, and growth prospects.
Investors can use the income statement to assess the company's earnings and profitability trends. They can analyze the balance sheet to evaluate the company's assets, liabilities, and equity structure. Additionally, the cash flow statement can help investors understand the company's cash generation, operating activities, and investment and financing decisions.
By considering these financial aspects, investors can assess the company's financial stability, growth potential, and ability to generate returns, enabling them to make informed investment decisions.
Related Exams
About this Document
|
4.67/5 Rating |
|
Nov 24, 2024 Last updated |
Document Description: NCERT Solution (Part - 2) - Finacial Statements of a Company for Commerce 2024 is part of Additional Study Material for Commerce preparation.
The notes and questions for NCERT Solution (Part - 2) - Finacial Statements of a Company have been prepared according to the Commerce exam syllabus. Information about NCERT Solution (Part - 2) - Finacial Statements of a Company covers topics
like and NCERT Solution (Part - 2) - Finacial Statements of a Company Example, for Commerce 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for NCERT Solution (Part - 2) - Finacial Statements of a Company.
Introduction of NCERT Solution (Part - 2) - Finacial Statements of a Company in English is available as part of our Additional Study Material for Commerce
for Commerce & NCERT Solution (Part - 2) - Finacial Statements of a Company in Hindi for Additional Study Material for Commerce course.
Download more important topics related with notes, lectures and mock test series for Commerce
Exam by signing up for free. Commerce: NCERT Solution (Part - 2) - Finacial Statements of a Company | Additional Study Material for Commerce
Description
Full syllabus notes, lecture & questions for NCERT Solution (Part - 2) - Finacial Statements of a Company | Additional Study Material for Commerce - Commerce | Plus excerises question with solution to help you revise complete syllabus for Additional Study Material for Commerce | Best notes, free PDF download
Information about NCERT Solution (Part - 2) - Finacial Statements of a Company
In this doc you can find the meaning of NCERT Solution (Part - 2) - Finacial Statements of a Company defined & explained in the simplest way possible. Besides explaining types of
NCERT Solution (Part - 2) - Finacial Statements of a Company theory, EduRev gives you an ample number of questions to practice NCERT Solution (Part - 2) - Finacial Statements of a Company tests, examples and also practice Commerce
tests
|
Explore Courses for Commerce exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Exam
,Important questions
,Previous Year Questions with Solutions
,past year papers
,Objective type Questions
,Semester Notes
,Summary
,NCERT Solution (Part - 2) - Finacial Statements of a Company | Additional Study Material for Commerce
,video lectures
,Extra Questions
,Sample Paper
,NCERT Solution (Part - 2) - Finacial Statements of a Company | Additional Study Material for Commerce
,MCQs
,Free
,shortcuts and tricks
,ppt
,NCERT Solution (Part - 2) - Finacial Statements of a Company | Additional Study Material for Commerce
,Viva Questions
,study material
,practice quizzes
,mock tests for examination
;
Additional Information about NCERT Solution (Part - 2) - Finacial Statements of a Company for Commerce Preparation
NCERT Solution (Part - 2) - Finacial Statements of a Company Free PDF Download
The NCERT Solution (Part - 2) - Finacial Statements of a Company is an invaluable resource that delves deep into the core of the Commerce exam.
These study notes are curated by experts and cover all the essential topics and concepts, making your preparation more efficient and effective.
With the help of these notes, you can grasp complex subjects quickly, revise important points easily,
and reinforce your understanding of key concepts. The study notes are presented in a concise and easy-to-understand manner,
allowing you to optimize your learning process. Whether you're looking for best-recommended books, sample papers, study material,
or toppers' notes, this PDF has got you covered. Download the NCERT Solution (Part - 2) - Finacial Statements of a Company now and kickstart your journey towards success in the Commerce exam.
Importance of NCERT Solution (Part - 2) - Finacial Statements of a Company
The importance of NCERT Solution (Part - 2) - Finacial Statements of a Company cannot be overstated, especially for Commerce aspirants.
This document holds the key to success in the Commerce exam.
It offers a detailed understanding of the concept, providing invaluable insights into the topic.
By knowing the concepts well in advance, students can plan their preparation effectively.
Utilize this indispensable guide for a well-rounded preparation and achieve your desired results.
NCERT Solution (Part - 2) - Finacial Statements of a Company Notes
NCERT Solution (Part - 2) - Finacial Statements of a Company Notes offer in-depth insights into the specific topic to help you master it with ease.
This comprehensive document covers all aspects related to NCERT Solution (Part - 2) - Finacial Statements of a Company.
It includes detailed information about the exam syllabus, recommended books, and study materials for a well-rounded preparation.
Practice papers and question papers enable you to assess your progress effectively.
Additionally, the paper analysis provides valuable tips for tackling the exam strategically.
Access to Toppers' notes gives you an edge in understanding complex concepts.
Whether you're a beginner or aiming for advanced proficiency, NCERT Solution (Part - 2) - Finacial Statements of a Company Notes on EduRev are your ultimate resource for success.
NCERT Solution (Part - 2) - Finacial Statements of a Company Commerce Questions
The "NCERT Solution (Part - 2) - Finacial Statements of a Company Commerce Questions" guide is a valuable resource for all aspiring students preparing for the
Commerce exam. It focuses on providing a wide range of practice questions to help students gauge
their understanding of the exam topics. These questions cover the entire syllabus, ensuring comprehensive preparation.
The guide includes previous years' question papers for students to familiarize themselves with the exam's format and difficulty level.
Additionally, it offers subject-specific question banks, allowing students to focus on weak areas and improve their performance.
Study NCERT Solution (Part - 2) - Finacial Statements of a Company on the App
Students of Commerce can study NCERT Solution (Part - 2) - Finacial Statements of a Company alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the NCERT Solution (Part - 2) - Finacial Statements of a Company,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of NCERT Solution (Part - 2) - Finacial Statements of a Company is prepared as per the latest Commerce syllabus.
|
© 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