Advanced AccountingMCQQuestion 5939 of 302
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14. Past Ltd. had the following items under the head "Reserves and Surplus” the Balance Sheet as on 31st March 2025: (Amount ` in lakhs) Securities Premium Account 90 Capital Reserve 40 Revaluation Reserve 70 The company had an accumulated loss of ₹ 280 lakhs on the same date, which was disclosed under the head "Statement of Profit and Loss" as asset in Balance Sheet. What should be disclosed on the face of Balance Sheet as per Schedule III to the Companies Act, 2013?

Select Your Answer (Keyboard: A, B, C, D)
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Correct Answer

✅ Option A — Reserve and Surplus-Securities premium 90 lakhs; others ₹ 110 lakh and Accumulated loss ₹ 280 lakhs in the Asset side.

All Options:

  • AReserve and Surplus-Securities premium 90 lakhs; others ₹ 110 lakh and Accumulated loss ₹ 280 lakhs in the Asset side. ✓
  • BReserve and Surplus ₹ 200 lakhs; and Accumulated loss ₹ 280 lakhs in the Asset side.
  • CReserve and Surplus - ₹ 200 lakhs only (D Reserve and Surplus - ₹ 80 lakhs only
  • D

Detailed Solution & Explanation

Correct Answer: Option **A** Explanation: As per the official suggested answer, option **A** is correct. Hence, **Option A** is the correct answer.

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