Name the two basic financial statements of a company as per Schedule III part I of the Companies Act,2013.

What is the number of major heads which appear for the assets items of company's Balance Sheet?

What is the number of major heads which appear for the equity and liabilities items of company's Balance Sheet?

Which section of the Companies Act 2013, requires the Balance Sheet to be prepared in the prescribed form?

Which Schedule and act prescribes the form for Companies Balance Sheet?

Define operating cycle

What is an accounting period in case of a company?

Under what heads and sub-heads will the following items appear in the Balance Sheet of a company as per Schedule III Part I of the Companies Act 2013:
(i)Debenture;
(ii)Securities against telephone
(iii)Calls-in-advance

Under what heads and sub-heads will the following items appear in the Balance Sheet of a company as per Schedule III Part I of the Companies Act 2013:
(i)Computer software
(ii)Proposed Dividend
(iii)Loan payable on demand

Under which major sub-headings the following items will be placed in the Balance Sheet of a company as per Schedule III Part I of the Companies Act 2013:
(i)Long term Borrowings
(ii)Trade Payables
(iii)Provision or Tax
(iv)Securities Premium Reserve
(v)Patents
(vi)Accrued Incomes

List the items which are shown under the heading 'Current Liabilities' as per schedule III part-I of the Companies Act,2013.

State any six items which are shown under the heading 'Reserves and Surplus' in the Balance Sheet of a Company as per Schedule III, Part-I of the Companies Act,2013.

In the question given above, determine the amount that will be shown in the statement of profit and loss against change in inventories of finished goods, work-in-progress and stock-in-trade.

Following balances have been extracted from the books of Vardhman Ltd on 31st March 2015.Equity share capital (2,00,000 equity shares of Rs 10 each) Rs 20,00,000. securities premium reserve Rs 4,00,000, 12% debentures Rs 10,00,000, creditors Rs 4,00,000, proposed divident Rs 1,00,000, surplus, i.i. balance in statement of profit and loss (debit) Rs 1,00,000, land and building Rs 18,00,000, government bonds Rs 10,00,000, capital work-in-progress(building) Rs 7,00,000, discount on issue of 12% debentures Rs 2,00,000, cash at bank Rs 1,00,000.Debentures were issued on 1st April, 2014 redeemable after 5 years, i.e. on 31st March 2019.Surplus, i.e. balance in statement of profit and loss is before writing off discount on issue of debentures.
Prepare the balance sheet of the company as per Schedule III, Part I of the Companies Act, 2013.
Identify the value involved in the presentation of balance sheet.

From the following information for the year ended 31st march, 2015, prepare notes to accounts on employees benefit expenses.
(a) Wages Rs 4,80,000
(b) Salaries Rs 7,20,000
(c) Entertainment expenses Rs 30,000
(d) Bonus Rs 1,00,000
(e) Gratuity paid Rs 2,40,000
(f) Conveyance expenses Rs 50,000
(g) Medical expenses Rs 80,000

From the following information, prepare the relevant notes to accounts.

Depreciate buildings @ 5%, plant and equipment @ 20%, furniture and fixtures @ 10%, brands @ 10% and computer software @ 60%.