Which financial statement presents a summary of the Assets, Liabilities, and Shareholders' Fund of a company?

General ledger

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Worksheet

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Balance sheet

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Cash flow statement

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Solution

The correct option is C
Balance sheet

Balance sheet presents a summary of the Assets, Liabilities, and Shareholders' Fund of a company

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Following is the Balance Sheet of Wisben Led , as on 31st March, 2012.

$\begin{matrix} Particulars & Notes to & Current Year & Previous Year (Rs) & (Rs) 1. Equity and Liabilities : (1) Shareholders' Funds (a) Share Capital & 7, 00, 000 & 6, 00, 000 (b) Reserve and Surplus (Profit and Loss Balance) & 2, 00, 000 & 1, 10, 000 (2) Non-current Liabilities Long-term Borrowings & 3, 00, 000 & 2, 00, 000 (3) Current Liabilities Trade Payables & 30, 000 & 25, 000 Total & 12, 30, 000 & 9, 35, 000 II. Assets : (1)Non-current Assets & 11, 00, 000 & 8, 00, 000 (a) Fixed Asset : Tangible Assets (2) Current Assets (a)Inventories & 70, 000 & 60, 000 (b) Trade Receivables & 32, 000 & 40, 000 CAsh and Cash Equivalents & 28, 000 & 35, 000 Total & 12, 30, 000 & 9, 35, 000 \end{matrix}$

Adjustments : During the year a piece of machinery of the book value of Rs 80,000 was sold for Rs 65,000.Depreciation provided on tangible assets during the year amounted to Rs 2,00,000. Prepare a Cash Flow Statement.

Following are the Balance Sheets of Krish Tech Ltd. for the year ended 31st March, 2012 and 2013 (Revised).
$\begin{matrix} Particulars & Note & Amount (Rs) & Amount (Rs) No. & 2012 - 13 & 2011 - 12 1. Equity and Liabilities (1) Shareholders' Funds (a) Share Capital & 12, 00, 000 & 8, 00, 000 (b) Reserves and Surplus (Profit & Loss Balance) & 3, 50, 000 & 4, 00, 000 (2) Non-current liabilities Long term borrowings & 4, 40, 000 & 3, 50, 000 (3) Current liability : Trade Payables & 60, 000 & 50, 000 Total & 20, 50, 000 & 16, 00, 000 II. Assets (1) Non-current Assets (a) Fixed Assets (i) Tangible Assets & 12, 00, 000 & 9, 00, 000 (2) Current Assets (a) Inventories & 2, 00, 000 & 1, 00, 000 (b) Trade Receivables & 3, 10, 000 & 2, 30, 000 (c) Cash and cash equivalents & 3, 40, 000 & 3, 70, 000 Total & 20, 50, 000 & 16, 00, 000 \end{matrix}$

Prepare a Cash Flow Statement after taking into account the following adjustments.

(a) The company paid interest Rs 36,000 on its long-term borrowing.

(b) Depreciation charged on tangible fixed assets was Rs 1,20,000.

Q. Match the items of the following two lists:

List-I	List-II
(i) Statement of changes in Working Capital	(a) Cash Flow Statement
(ii) Deferred Tax	(b) Fixed Assets
(iii) Three activities	(c) Funds Flow Statement
(iv) Impairment Loss	(d) Balance Sheet

Following is the Balance Sheet of Raj Oil Mills Limited as at March 31, 2017. Calculate Current Ratio.

Particulars	(Rs)
I. Equity and Liabilities:
1. Shareholders’ funds
a) Share capital	7,90,000
b) Reserves and surplus	35,000
2. Current Liabilities
a) Trade Payables	72,000
Total	8,97,000
II. Assets
1. Non-current Assets
a) Fixed assets
Tangible assets	7,53,000
2. Current Assets
a) Inventories	55,800
b) Trade Receivables	28,800
c) Cash and cash equivalents	59,400
Total	8,97,000

Which statement express all items of financial statement as a percentage of some common base such as total assets for balance sheet?

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Which financial statement presents a summary of the Assets, Liabilities, and Shareholders' Fund of a company?

The correct option is C Balance sheet Balance sheet presents a summary of the Assets, Liabilities, and Shareholders' Fund of a company

The correct option is C
Balance sheet

Balance sheet presents a summary of the Assets, Liabilities, and Shareholders' Fund of a company