Past Ltd. had the following items under the head "Reserves and Surplus" the Balance Sheet as on 31st March 2025: (Amount in lakhs) Securities…

CA Intermediate · Advanced Accounting · MTP · May 2026
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?
(A) Reserve and Surplus-Securities premium 90 lakhs; others 110 lakh and Accumulated loss 280 lakhs in the Asset side.
(B) Reserve and Surplus 200 lakhs; and Accumulated loss 280 lakhs in the Asset side.
(C) Reserve and Surplus -200 lakhs only
(D) Reserve and Surplus -80 lakhs only

Suggested Answer and Working Notes:

Correct Answer: Option (D)

Reserve and Surplus -80 lakhs only

Topics: Preparation of Financial Statements

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