Balance sheet-trusts laws and accounts, Financial Accounting

Assignment Help:

BALANCE SHEET

Grouping of items:

 
Items in the Balance Sheet should be grouped under appropriate headings. In particular, a trust operating the provisions of the Trustee Act will have headings for: The fixed interest securities and fund; The wider range securities and fund; The special range securities and fund.
 
The Balance Sheet will also clearly distinguish between items representing income and those representing capital.

Comparative figures:

Comparative figures should be shown where relevant.

Capital account:

Where the Trustee Act has been applied, the capital account will be divided between the fixed interest, wider and special ranges.  The balance on the capital account shows the total book value of the capital funds.

Liabilities:

Careful distinction should be made between liabilities on capital account and those on income account.

Assets

  • The classification of investments
  • Unauthorised investments
  • The book value of investments
  • Revaluation of investments
  • Cash and bank balances

Related Discussions:- Balance sheet-trusts laws and accounts

Income statement, Income statement2013 2012 2011 Net revenue 5,075,390.. 4,...

Income statement2013 2012 2011 Net revenue 5,075,390.. 4,763,180.. 4,158,507 Cost of goods 1,377,242.. 1,297,102.. 1,134,966.. Gross profit 3,698,148.. 3,466,078.. 3,023,541 Total

Reconciliations, What is the best way of doing reconciliations of control a...

What is the best way of doing reconciliations of control accounts like Purchases Ledger Control vs Purchases Ledger and Sales Ledger Control vs Sales Ledger

Estimate a linear joint demand curve, Pinapple Inc. is deciding how to pric...

Pinapple Inc. is deciding how to price its two lines of laptops, one of which is a light one for travel (which is called Light) and the other is a powerful one (called Power). Thes

Journal entry, Clemens Cars' job cost sheet for job A40 shows that the cost...

Clemens Cars' job cost sheet for job A40 shows that the cost to add security features to a car was $10,500. The car was delivered to the customer, who paid $14,900 in cash for the

Determine estimated cost, XYZ Company is a large manufacturer of auto parts...

XYZ Company is a large manufacturer of auto parts for the auto manufacturers and parts distributors. XYZ has plants throughout the world, but most are located in North America. XYZ

Adjusting Entries, The following accounts and balances have been taken from...

The following accounts and balances have been taken from the general ledger trial balance of Daiton Repairs Limited as at October 31, 19×2, after its first year of operation. Adjus

Incomplete Records, Statement to ascertain profit in analysis method and co...

Statement to ascertain profit in analysis method and comparison method, and reconstructed using ledger

Format for balance sheet, FORMAT FOR BALANCE SHEET The non current asse...

FORMAT FOR BALANCE SHEET The non current assets, current assets and current liabilities sections remain identical to those of a sole proprietorship.  However, the “capital sect

Types of temporary differences-financial statement, Types of temporary diff...

Types of temporary differences There are two main types of temporary differences; 1) Taxable temporary difference : If the carrying amount is more than the tax base then

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd