Arrange assets in the order of permanence:
Sundry Debtors, Stock, Investment, Land and Building, Cash in Hand, Motor Vehicle, Cash at Bank, Goodwill, Plant and Machinery, Furniture, Loose Tools, Marketable Securities.

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Assets in the order of Permanence:

1. Goodwill
2. Land and Building
3. Plant and Machinery
4. Motor Vehicle
5. Loose Tools
6. Furniture
7. Investment (Long-term)
8. Stock
9. Sundry Debtors
10. Marketable Securities (Short-term)
11. Cash at Bank
12. Cash in Hand

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Q. From the following information, prepare Balance Sheet of a trader as at 31st March, 2018 arranging the assets and liabilities–(i) in order of permanence and (ii) in order of liquidity:

	₹		₹
Goodwill	20,000	Bank	20,000
Capital	1,80,000	Sundry Creditors	63,000
Liabilities for Expenses	1,200	Bills Receivable	13,000
Cash in Hand	1,000	Plant and Machinery	40,000
Investment	20,000	Provision for Doubtful Debts	2,500
Bills Payable	10,700	Closing Stock	80,000
Net Profit	92,600	Furniture	16,000
Sundry Debtors	50,000	Drawing	30,000
Land and Building	60,000

The following is the trial balance of Alfa Ltd., for the year ended June 30, 2005

Details	Amount Rs	Details	Amount Rs
Land and Buildings	3,00,000	Sundry Creditors	40,000
Plant and Machinery	4,50,000	Bills Payable	20,000
Furniture and Fittings	40,000	General Reserve	2,00,000
Goodwill	60,000	Profit and Loss Account Balance (on 1.7.04)	90,000
Sundry Debtors	60,000	Sales	6,25,000
Bills Receivable	26,000	Purchase Returns	15,000
Investments (5% Govt. Securities)	30,000	Equity Share Capital	5,00,000
Cash in Hand	2,000	8% Preference Share Capital	2,00,000
Cash at Bank	55,000
Preliminary Expenses	29,000
Purchases	4,00,000
Sales Return	10,000
Stock on 1-7-04	85,000
Wages	47,000
Salaries	55,000
Rent, rates and taxes	9,000
Carriage Inwards	6,500
Law Charges	2,500
Trade Expenses	23,000
	16,90,000		16,90,000

Prepare the Profit and Loss Account and Balance Sheet of the company after taking the following particulars into consideration:

a) The original cost of land and building plant and machinery and furniture and fittings was Rs 2,50,000, Rs 6,00,000 and Rs 60,000 respectively. Additions during the year were: Building Rs 50,000 and Plant Rs 20,000.

b) Depreciation is to be charged on plant and machinery and furniture and fitting at 10 per cent on original cost.

c) Of the sundry debtors, Rs 10,000 is outstanding for a period exceeding 6 months, Rs 5,000 are considered doubtful, while the others are considered good.

d) The directors are entitled to a commission at 1 percent of the net profits before charging such commission.

e) Stock on 30th June, 2005 is Rs 1,30,000.

f) Provide Rs 34,800 for income tax

Q. How Should the following assets be shown in the permanence order in the balance sheet of a company?
1. Patent
2. Cash at bank
3. Stock in trade
4. Land and building
5. Cash in hand

Q. Under which heads the following items are classified or shown on the Assets part of the Balance Sheet of a copany: (i) Loose Tools; (ii) Bills Receivable; (iii) Sundry Debtors: and (iv) Advances Recoverable in Cash?

Monika has the following assets and liabilities as on 31st March, 2016. Ascertain her capital. Cash Rs. 50,000, bank Rs. 95,000, debtors Rs. 36,000, plant and machinery Rs. 1,60,000, building Rs. 4,00,000, furniture Rs. 48,000, creditors Rs. 44,000, bills receivable Rs. 1,13,000 and bills payable Rs. 47,000.

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Arrange assets in the order of permanence: Sundry Debtors, Stock, Investment, Land and Building, Cash in Hand, Motor Vehicle, Cash at Bank, Goodwill, Plant and Machinery, Furniture, Loose Tools, Marketable Securities.

Assets in the order of Permanence: 1. Goodwill 2. Land and Building 3. Plant and Machinery 4. Motor Vehicle 5. Loose Tools 6. Furniture 7. Investment (Long-term) 8. Stock 9. Sundry Debtors 10. Marketable Securities (Short-term) 11. Cash at Bank 12. Cash in Hand

Arrange assets in the order of permanence:
Sundry Debtors, Stock, Investment, Land and Building, Cash in Hand, Motor Vehicle, Cash at Bank, Goodwill, Plant and Machinery, Furniture, Loose Tools, Marketable Securities.

Assets in the order of Permanence:

1. Goodwill
2. Land and Building
3. Plant and Machinery
4. Motor Vehicle
5. Loose Tools
6. Furniture
7. Investment (Long-term)
8. Stock
9. Sundry Debtors
10. Marketable Securities (Short-term)
11. Cash at Bank
12. Cash in Hand