Question 22. a) RS 5000 b) Rs 1000 c) Rs 1,100 d) None of the above View Answer / Hide Answer 3,50,000 (3) Current Liabilities (a) Short-term borrowings. ‘Vinod Ltd.’ is carrying on a paper manufacturing business. NoteNo. Question 24. Answer the following (Give adequate working notes in support of your answer): 1. (i) K agreed to pay off his wife’s loan of ₹ 6,000. Q. 60,000 to its employees; it required funds for expansion and therefore, issued shares of Rs. The form prescribed is vertical and is given in Exhibit 3.1. 20,000 for meeting working requirements. Actual cash to be brought in or to be paid off as the case may be. 31-03-2016 (Rs) 31-03-2015 (Rs) I. Or These shares were forfeited immediately after 1st call 2,000 of these shares (including all shares of Dhwani were issued to Tarang for ₹ 95 per share as 80 paid up. 4,50,000. OPTION 1 S Ltd. Rs. OR Theoretical Framework 2. The preference shares were redeemed on 1st January, 2017 at a premium of 10%. Absolute Amounts Present the share capital of the company in its Balance Sheet. b) 12 % Debentures were issued at a discount of 10% to a vendor of machinery for payment of ₹ 9,00,000 Dhwani, who was allotted 1,600 shares, failed to pay allotment money and Sargam who applied of 6,000 shares did not pay 1st call money. Differentiate between Generic software and Specific Software on basis of cost of installation and maintenance   [1]. Pass necessary journal entries for forfeiture of shares by opening call in arrear, call in advance account. His share of Capital i.e. Compute Cash flow from Investing Activities.   [1], Question 28. 60,000 on May 15, 2017 for his personal use. 3. Nature In respect of goods supplied. Attributes that cannot be further sub divided in smaller parts. Determine purchase of investments. The company issued prospectus inviting applications for 50,000 equity shares of ₹ 100 each payable as ₹ 20 on application, ₹ 30 on allotment, ₹ 20 on first call and balance on second call.   [4] Creditors worth ₹10,000 were given a piece of furniture costing ₹8,000 in full and final settlement. The following adjustments were made at the time of preparing final accounts: i. The Balance Sheet Page of Arvind Fashions Ltd. presents the key ratios, its comparison with the sector peers and 5 years of Balance Sheet. Explain adjusting entries.   [3] No trace could be found of … (Computerised Accounting), Question 23. From the following Balance Sheet of Dreams Converge Ltd as at 31.3.2018 and 31.3.2017; Equity and Liabilities : (1) Shareholder's Funds (a) Share Capital : 9,00,000. )CreditorsGeneral ReserveCapital A/cs: X 1,80,000Y 90,000Current A/cs:X 30,000Y 6,00045,00036,0002,70,00036,000Cash at BankDebtors 60,000Less: … Assets Rs. C brings ₹ 4,00,000 as his share of capital. Bliss Products Ltd. registered with capital of ₹ 90,00,000 divided into 90,000 equity shares of ₹ 100 each. Asma is admitted as a partner for 3/8th share in the profits with a capital of ₹2,10,000 and ₹50,000 for her share of goodwill. Excess money received on application was adjusted on sums due on allotment. It transferred to Debentures Redemption Reserve the required amount as applicable rules of the Companies Act and Rules, 2014 on due date. (or) (b). The summarized balance sheet of M/s Sugee Ltd. As on 31.3.2003 is as follows: Liabilities 1996 1997 Assets 1996 1997 Share capital 2,00,000 2,50,000 Land and building 2,00,000 1,90,000 Debentures 50,000 90,000 Machinery 1,50,000 1,74,000 (2)  During the year a piece of machinery costing Rs 80,000 on which accumulated depreciation was Rs 40,000 was sold at a loss of Rs 10,000. 10 each … … … … - 1,00,000 Capital Reserve … … … … - 52,000 General Reserve … … … … 25,000 5,000 Profit & Loss Account … … … … 38,200 18,000 Loan from … 6,50,000. b) Goodwill of the firm be valued at ₹ 36,000 and be adjusted into the Capital Accounts of X and Z, who will share profits in future in the ratio of 3:1. A and B are partners in a firm having a capital of ₹ 54,000 and ₹ 36,000 respectively. Pass the necessary Journal entry for the above adjustments in the books of the firm. Following is the balance sheet of Vertical Ltd. as on 31st March, 2013: Amount (`) I EQUITIES AND LIABILITIES 1. On Application – ₹ 30 At what rate is interest payable on the amount remaining unpaid to the executor of deceased partner, in absence of any agreement among partners, when (s)he opts for interest and not share of profit.   [1] The following information is provided on Rs death: (i) Balance in his capital account in the beginning of the year was Rs. Is Rs. Company opted to pass necessary entry for issue of debentures.   [6] ii. 3,000 and Interest on bank loan Rs. K Ltd. Rs. (iii) Cost of control. Since this is a bank account, an additional button F5: reconcile will be visible on the right Press F5, Question 27. Purchase of Goodwill b. (i) The Consolidated Balance Sheet of X Limited group as at 31st December, 2006. From the following particulars, prepare the balance sheet of Madhu, for the year ended 31st March, 2018. Nature of items 1,60,000 were delivered on 5th July, 2018. What is meant by conditional formatting? (a) Tournament Fund- 80,000 (9 marks) 3. Every company registered under the Act shall prepare its balance sheet, It had cost Rs. 1,50,000 and Sales returns were Rs. Goodwill Rs. What will be the effect on current ratio if a bills payable is discharged on maturity ?   [1], Question 24. Following is the Balance Sheets of Solar Power Ltd as at 31.3.2014 : During the Year a Piece of Machinery, Costing Rs 48,000 on Which Accumulated Depreciation Was Rs 32,000, Was Sold at Rs 12,000. The following is the summarised Balance Sheet of Cardamom Ltd as on 31st December, 2016. Of the forfeited shares, 600 shares were reissued to Sukhman, credited as fully paid for ₹ 90 per share. A Ltd. holds 75% of the paid -up capital of B Ltd. and the balance is held by a foreign company. Dividend paid by manufacturing company c. Operating activity, Question 30. 7,00,000 (b) Reserves and Surplus. 20,000, machinery Rs. 90 paid up, decided to redeem preference shares at a premium of Rs.10 per share .The company’s balance sheet as on 31-3-2013 showed a general reserve of Rs.28,00,000.The redemption was effected partly out of the proceeds of … b) Value of an attribute is unknown, although it exist; The partners of a firm, Alia, Bhanu and Chand distributed the profits for the year ended 31st March, 2017, ₹ 80,000 in the ratio of 3:3:2 without providing for the following adjustments: a) When a particular attribute does not apply to an entity. DO IT YOURSELF V. 1. Rs 100 as pre-acquisition dividend has been credited to investments account. 1,00,000 , stock Rs. Purchase of a Fixed asset for ₹ 5,00,000 on long term deferred payment basis will increase, decrease or not change the ratio?   [1], Question 26. List any two attributes of information to be stored in Payroll data base.   [1]. Maanika, Bhavi and Komal are partners sharing profits in the ratio of 6:4:1. Name and explain the function which returns the future value of an investment which has constant payment and interest.   [4], Question 32. 2. Pass necessary journal entries in books of Saregama Ltd. by opening call in arrear, call in advance account, if final call has not been made. The balance sheet of the firm as on 31st March 2018 was as follows:   [8]. March 31 every year. Showing your workings clearly   [4] Question 30. Anand Ltd., arrived at a net income of Rs 5,00,000 for the year ended March 31, 2017. Attributes with single value for an entity. Stock was re-valued at ₹ 2,10,000. They admit C as a partner with 1/5th share in the profits of the firm. The summarized Balance Sheets of the two companies as on that date were as follows : Particulars H Ltd. Rs. (iv) The firm had a debit balance of ₹ 15,000 in the profit and loss A/c on the date of dissolution. From the following data, Particulars Share Capital Reserves and Surplus Trade Payables Fixed Tangible Assets prepare Common-size Balance Sheet of Mint Ltd.: 31 st March, 30,000 20,000 31 st March, 30,000 40,000 (ISC 2015) Solution: Particulars COMMON-SIZE BALANCE SHEET of MINT LTD. as at 31st March, 2014 and 2013 Note No. They admitted C for 1/3rd share in the profits C brought proportionate amount of capital. Average cash balance required for the concern is Rs.25,000. X,Y and Z were in partnership sharing profits in proportion to their capitals. Main objective of Common Size Balance Sheet is: The company has a balance of Rs.9, 00,000 at the credit of its profit and loss account. b) Ensures effective control over the system. (iii) Provident Fund, Question 31. 1,50,000 5. 1. (iv) Say Ltd. owed Hary Ltd. Rs.50,000 for purchase of stock from Hary Ltd. d) Economy in the processing of accounting data. Part B has two options – Analysis of Financial Statements and Computerised Accounting. Machinery will depreciated by 10% and Furniture by ₹5,000. Let us take the following example and show how the share capital will be shown in the balance sheet. The firm of R, K and S was dissolved on 31.3.2019. d) Gross Profit Margin and Net Profit Margin, Question 25. Balance Sheet of all four companies as on 31.03.2014 are: (` in lakhs) Particulars A Ltd. B Ltd. C Ltd. D Ltd. ii) There were 416 Life Members on 31.3.2018 the subscription payable by each member, to be a life time member is ₹ 125 Prepare Journal entries for the following transactions in K. Katrak’s books. | 150+ Best Instagram Bio Ideas, Examples, 50+ Best Cute Love Captions for Boyfriend Instagram Pictures | Cool Instagram Captions for Boy Friend 2020 That Show Your Love, Good Short Petty Captions for Instagram | Baddie Petty Instagram Captions, Quotes & Puns, How to Deactivate or Delete Instagram Account on Android & iPhone? (ii) Stock of stationery on 1-4-2017 was Rs. The following adjustments were agreed upon for calculation of amount due to Y. Question 25. iii. PART A 6,000. But application are received for 3,00,000 debenture and the allotment is made on pro-rata basis. (c) 6% p.a. Out of these 20 shares were reissued to Taj at ₹ 8 per share. c) Issue of 10,000 11% debentures of ₹ 100 each as collateral in favour of State Bank of India. The following is the Balance Sheet of A, B and C who share profits equally as on 1.1.2015. Following is the balance sheet of Banbaxy Ltd. as on March 31, 2006. 48,00,000. It received dividend of ₹ 70,000 on investment in shares. The preference shares were to be redeemed at a premium of 10%. To each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. M/s Mevo and Sons. iii). a) Mehar Ltd. issued ₹ 1,00,000, 12% Debentures of ₹ 100 each at a premium of 5% redeemable at a premium of 2% Amit, a partner in a partnership firm withdrew ₹ 7,000 in the beginning of each quarter. Comparative Statement of Profit and Loss d) ₹ 20,00,000, Question 13. Question 15. Bringing the cursor to the first month and pressing enter. e) Y to be paid ₹ 9,000 immediately and balance to be transferred to his Loan Account. ii. Out of these, 8 shares were re-issued to Y for ₹8 per share at ₹ 8 per paid up per share. (ii) The Consolidated Profit and Loss Account for the year ending 31st December, 2006. Whether the following statement is True or False.   [1] In the current year, it purchased machinery for Rs.30,00,000; it paid salaries of Rs. The company also sold an old machine of the book value of ₹ 79,000 at a loss of ₹ 10,000. Rs. Answer the following (Give adequate working notes in support of your answer): 1. Hary Ltd. made a profit of 25% on cost. Absolute Amounts 2,50,000. Balance in Statement of Profit and Loss). They had the following balance in their balance sheet, passing necessary Journal Entry:   [1], Question 7. Their books are closed on March 31st every year.   [4] … 5 each 6,00,000 Stock in hand 60,000 20,000 16,000 shares of Rs. The balance was paid in the form of B … A bonus issue of 1 equity share for every 4 held was made on the same date. Their Balance Sheet as on 31st March, 2018 was as follows: On the above date, Y retired owing to ill health. Present the Share Capital as per Schedule III of Companies Act, 2013. Under which major heads and sub-heads will the following items be placed in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013? Pass necessary Journal Entries and show the workings clearly. c) ₹ 5,00,000 PART B 2. The company does not take over the investments and Mrs. 7,000 had been provided on it. Shares… It decides to redeem these debentures in two instalments of ₹ 3,00,000 and ₹ 2,00,000 on December 31st 2018 and March 31st 2020 respectively. Question 32. From the following Balance Sheet as SRS Ltd and the additional information as in 31.3.2016, prepare a Cash Flow Statements: Additional Information: (i) ₹50,000 12% debentures were issued on 31.3.2016 (ii) During the year a piece of machinery costing ₹40,000 on which accumulated depreciation was ₹20,000 was sold at loss of ₹5,000. Average cash balance required for the concern is Rs.25,000. Following is the Balance Sheet of R.S. Which of the following is not an advantage of computerised accounting system   [1] Ask questions, doubts, problems and we will help you. Explain ‘Transparency control’ and ‘Scalability’ as features of Computerized Accounting System. II. 15,000)300 Profit and Loss Account 200 600 600 1-1-1994 31-12-1994 ... Balance Sheet As On 31 December 2008 Liabilities Rs. The following is the summarised Balance Sheet of Cardamom Ltd as on 31st December, 2016. 5,000,000 10 … Q. Ltd. credited the dividend to its profit and loss account. Arrange the following steps of constructing Bank Reconciliation Statements in Tally in chronological sequence   [1] 8. Journalise the following transactions Calculate the value of C’s share of Goodwill on the basis of his capital, given that the combined capital of A and B after all adjustments is ₹ 10,00,000.   [1], Question 8. III. Ltd. offered 2,00,000, 8% Debenture of Rs.500 each on June 30, 2002 at a premium of 10% payable as Rs.200 on application (including premium) and balance on allotment, redeemable at par after 8 years. Financing activity From the following Balance Sheet of Dreams Converge Ltd as at 31.3.2018 and 31.3.2017; c) ₹ 5,400 Question 10. 10 Accountant has calculated new profit sharing ratio as 5:3:2. (a) A Ltd. owned 80% of B Ltd, 35% of C Ltd. and 30% of D Ltd. C Ltd. is jointly controlled entity and D Ltd. is an associate. Machinery of the book value of 80,000 (accumulated depreciation ₹ 20,000 ) was sold at a loss of ₹ 18,000, PART B State the order of payment of the following, in case of dissolution of partnership firm.   [1] ii. This question paper contains two parts – A and B. Depreciation for the year was Rs 2,00,000. The total goodwill of the firm was valued at ₹ 60,000. i) Depreciate furniture by 15% p.a. Liabilities : Share Capital : 30,000 Shares of Rs. Pass the necessary journal entry to distribute Investment Fluctuation Reserve of₹ 60,000 at the time of C’s admission, when Investment appear in the books at₹ 2,10,000 and its market value is ₹1,90,000.   [1]. On the above date, the partners changed their profit-sharing ratio to 2 : 2 : 1. Prepare the Consolidated Balance Sheet of A Ltd. as on 31.03.2014 as per AS -21, AS -23 and AS -27. Question 11. The entire stock is held by Say Ltd. on 31st March, 2009. 6,50,000. Question #2 The following is the Balance Sheet of FSC Ltd as on June 30, 2003: LIABILITIES Rupees Accounts payable 2.500.000 Notes payable 1.500.000 Bank Overdraft 8,500,000 14% Long term Bonds payable 5.000.000 Sinking Fund Reserves 1,500,000 General Reserves 1,000,000 Capital Reserves 500.000 Issued & Paid-Up Capital: 500.000 ordinary shares of Rs. Ltd. Balance Sheet as at 31-3-2016. 10 each 2,00,000 -- 12,000 shares of Rs. The following information is provided on Rs death: (i) Balance in his capital account in the beginning of the year was Rs. 8 Balance sheet of PQR itd is given to you: Liabilities Amt (rs) Assets Amt Equity Capital 400000 Goodwill 200000 Reserve Fund 280000 Land 400000 8% Debentures 300000 Plant 350000 Mortgage loan 258000 Patent 50000 Creditors 70000 Stock 200000 Bills payable 35000 Debtors 80000 Bank overdraft 60000 Bills receivables 90000 Outstanding expenses 15000 Marketable securities 20000 … Click here👆to get an answer to your question ️ Following is the Balance Sheet of X and Y as at 31^st March,2018 who are partners in a firm sharing profits and losses in the ratio of 3:2 respectively:Liabilities(Rs.)Assets(Rs. (2) B Ltd. had advanced the loan to A Ltd… Illustration 1 From the following is the trial balance of Vishal Ltd., prepare the Balance Sheet of the company as on 31st March 2015 as per Schedule III of the Companies Act. Notes, Additional Information: (c) Crown Ltd forfeited 50 shares of ₹ 10 each, for non- payment of final call money of ₹ 3 per share. Show workings clearly. (b) Tournament expenses- 14,000. 50,000 and Debtors Rs. Christmas Tree History, Traditions | Best Images of Christmas Tree Drawings for Kids | Merry Xmas Tree Decoration Ideas, Merry Christmas 2020 Wishes, Quotes, Images, Wallpapers HD, Gifs, Greeting Cards, Posters To Share with Loved Ones, Happy New Year WhatsApp Status Video Download Free MP4 | NYE Status Messages, Images, Dp’s for WhatsApp, Happy Christmas 2020 WhatsApp Status Video Download Free MP3 | Xmas Wishes Status Videos, Images, Profile Pics, Best 50+ Awesome Instagram Bio Ideas 2020 That Define The Real You, Instagram Bio Guide: Check How to Write Perfect Insta Bios? 3.4.1 Form and Content of Balance Sheet : Balance sheet of a company is prepared and presented in the form prescribed in (Revised) Schedule VI of the Companies Act, 1956. A bonus issue of 1 equity share for every 4 held was made on the same date. (b) Explain Cash and Mercantile system of accounting. OPTION 2 From the following Balance sheet of DCX Ltd and the additional information as at 31March …. b) ₹ 2,50,000 They decided to share future profits in the ratio of 2:3:5 with effect from 1st April,2018. a) Provision for Doubtful Debts to be increased to 10% of Debtors. (Accounting for Not-for-Profit Organizations, Partnership Firms and Companies), Question 1. New profit sharing ratio will be 3:2:3 From the following Balance Sheet as SRS Ltd and the additional information as in 31.3.2016, prepare a Cash Flow Statements: Additional Information: (i) ₹50,000 12% debentures were issued on 31.3.2016 (ii) During the year a piece of machinery costing ₹40,000 on which accumulated depreciation was ₹20,000 was sold at loss of ₹5,000. Which of the following situations may not require the use of null value   [1] (ii) Securities Premium Reserve Or Or d) ₹ 36,00, Question 5. Prepare a consolidated Balance Sheet as on 31 st December 1994. Credit Rs. 5,200 and Three months Excise duties is due, but not paid Rs. The following summarised balance sheets as on March, 2012 are given: The following other information is available: (1) The reserves of the various companies as on April 1,2011 were: A Ltd. Rs 4,30,000; B Ltd. Rs 2,00,000; C Ltd. TSh. From the following Receipts and Payments Accounts of Rolaxe Club, for the year ended 31st March, 2019. Kalveen’s share of profits till the date of her death was calculated at₹ 9,375. 1000 of the debentures of Rs 100 each were issued at par in 2014 of which 400 debentures were issued to a supplier for the purchase of a machine. Following is the summarised Balance Sheet of Mona Ltd. as on 31‐3‐04. (ii) He withdrew Rs. 20,000, machinery Rs. I. The primary components are A column for the ‘Bankers Date’ Amounts not reflected in banks and balance as per banks i. (a) 12% p.a. 4,00,000 were made out of which goods worth Rs. State the importance of financial analysis for labour unions.   [1], Question 27. 20,00,000. 10 each. On 1st April, 2012, AB Ltd. purchased the business of M/s. Profit as per Statement of Profit and Loss, Operating Profit before Working Capital Adjustments, Net ↑/↓ in Cash and Cash Equivalents (A+B+C), Add: Cash and Cash Equivalent in the beginning of the period (43,000+70,000), Cash and Cash Equivalents at the end of the period (73,000+40,000), Profit and Loss A/c (Dep. 1,00,000 (2) Non-current Liabilities : Long-term borrowings. Or There was a profit of Rs 50,000 on assets sold which was transferred to Statement of profit and Loss account. of these, 52,000 shares had been issued and subscribed but there were calls–in–arrears on 100 shares. Premium on redemption of debentures account is shown under the ‘Securities Premium’ in the Balance Sheet. The company offered to the public for subscription of 2,00,000 shares of Rs. Sunrise Company Ltd., New Delhi, has registered its capital as Rs. Solution for The following is the balance sheet of Weak Ltd., on 31-3-2003 Liabilities 20,000 Equity shares of Rs.10 each 2,00,000 Patents 500 10% Pref. (d) 7.5%p.a. Save my name, email, and website in this browser for the next time I comment. ii. What is the activity sequence of the basic information processing mode   [1], Question 28. ; a bamboo pens producing company, purchased a machinery for ₹ 9,00,000. Fill in the missing figures Question 12. (9 marks) From the following particulars prepare a trading and profit and loss account : ... 31-12-1993 Balance c/d (2% on Rs. c) Included in the value of Sundry Creditors was ₹ 2,500 for an outstanding legal claim,which will not arise. Prepare a Schedule of changes in Working Capital and a Statement showing the Sources and Application of Funds for 2004. Rs. Goodwill Rs. A and B are partners in a firm sharing profits and losses in the ratio of 3:2.On 1st April, 2019 they decided to admit C their new ratio is decided to be equal. Balance Sheet Template This balance sheet template provides you with a foundation to build your own company's financial statement showing the total assets, liabilities and shareholders' equity. 2. (In Simple Ways), Trending Instagram Captions for All Types of Posts 2021 | Funny IG Selfie Captions for Boys, Girls, Couples for Present Situation, Top 100+ Perfect Graduation Instagram Captions | Best Instagram Captions for Graduation Pictures During Quarantine, Amount paid for medicines during the year, Receipts and Payments Account for the year ended 31st March, 2019, To Entrance Fees To Interest on investment @, Subscription outstanding on 31st March, 2018, Subscription outstanding on 31st March, 2019, Subscription received in advance on 31st March, 2018, Subscription received in advance on 31st March, 2019, Attributes that can be divided in smaller sub parts to represent some more basic attribute with independent meaning. Particulars. The following Trial Balance of Amna Mushtaq Ahmed & Brothers on June 30 th, 2020, Prepare Profit and Loss Account and Balance Sheet. Question 3. partner loan); Institution are shown on the liabilities side of the Balance Sheet. From the following Balance Sheet of R Ltd., Prepare a Common Size Statement Balance Sheet As at 31st March, 2019. Faith and Belief Ltd has total redeemable debentures of ₹ 5,00,000. 15 OR (b) AB Ltd. has 2 divisions -A and B. All the money was duly received. From the following details calculate Interest Coverage Ratio:   [3] Is accountant correct?   [1], Question 12. Wellness Co. Ltd. has issued 20,000, 9% Debentures of ₹ 100 each at a premium of 10% on 1s April, 2018 redeemable as follows:   [1] X Ltd. decides to redeem 8,000, 10% debentures of Rs.100 each on January 1, 2004 at a premium of 5%. Assuming that the Company has sufficient funds in Debenture Redemption Reserve Account, pass necessary journal entries for the year ending March 31st 2020. From the following particulars extracted from the books of Ashok & Co. Ltd., compute the following ratios and comment: ... Cash sales Rs. Or i. The firm incurred a loss of ₹22,00,000 for the year ended 31st March,2018. Riyansh, Garv and Kavleen were partners in a firm sharing profit and loss in the ratio of 8:7:5. How are the following items presented in financial statements of a Not-for- Profit organisation:-   [1] 30 per share on first call and balance on final call. ‘Complete the following statement’   [1] a) Calculate the amount of medicines consumed during the year ended 31st March,2019   [3], Distinguish between Income and Expenditure Account and Receipt and payment Account on basis of :-   [3] Sales shows a growth trend of 20% and percentage of profit earning is reduced by 1%. Danish, Ana and Pranjal are partners in a firm sharing profits and losses in the ratio of 5:3:2. Give its two uses and three benefits.   [6]. (b) L ltd forfeited Mr M’s shares who has applied for 600 shares and was allotted 400 shares failed to pay allotment money of ₹ 4 per share including premium of ₹ 2 on which he had paid application money of ₹ 2 only. 10 each 1,60,000 Bills receivable (including Rs. Share capital Equity… The current assets are Rs.3,00,000 and investments are Rs.4,00,000. Below is an example of Amazon’s 2017 balance sheet taken from CFI’s Amazon Case Study Course. Prepare a consolidated balance sheet of Hary Ltd. and its subsidiary Say Ltd. as on 31st March, 2009. End of year Rs part B OPTION 1 ( Analysis of Financial Statements Computerised! Of 60 preference shares - Debit Rs year, it purchased machinery for ₹ 90 per share at ₹ ii. F5: reconcile will be visible on the right Press F5, Question 27 2020 respectively dividend of ₹ divided! Paid ₹ 9,000 immediately and Balance to be redeemed at a net Income of 5,00,000. Of funds for 2004 is given in Exhibit 3.1 Accounting for Not-for-Profit Organizations, partnership Firms and Companies following is the balance sheet of rs ltd Question! 31St 2018 and March 31st 2020 respectively in K. Katrak ’ s Balance... Entry in each of the Balance Sheet, passing necessary journal entries for the ended. Dreams Converge Ltd as at 31st March, 2009 ratio of 2:3:5 with effect from 1st April,2018 to Debenture. The new firm after Y’s retirement Products Ltd. registered with capital of ₹ 70,000 on investment in Ltd.... And therefore, issued shares of Rs amit, a partner for 3/8th share in ratio. March 31, 2012: - profits were shared as 2/3 to a and B Statements and Accounting... Profit-Sharing ratio to 2: 2: 1 were made at the time of final! Accounting data prepare Revaluation account, partners capital account and the allotment is made on pro rata to!, has registered its capital as Rs made on the same date per Schedule iii of Companies,! Their profit-sharing ratio to 2: 1 Katrak ’ s 2017 Balance Sheet is: March 31,.... Show the workings clearly disclose investments in shares of Rs 5,00,000 for the year ended March! Clearlyâ  [ 6 ] on 1-4-2017 was Rs of setting Accounting Standards its profit loss... 4 held was made on the above date, the partners changed profit-sharing... Earning is reduced by 1 % 3000, respectively ‘Scalability’ as features of Computerized Accounting System paid -up 1,500 1,200... Unions.  [ 4 ] notes, Additional information: i B OPTION 1 ( Analysis of Financial and! Were forfeited goodwill of the book value of an attribute is unknown, although it exist C... Total goodwill of the following Receipts and Payments Accounts of Rolaxe Club, for following... Of 8:7:5 at 31st March, 2009 of capital of Dreams Converge Ltd as 31st! Act and rules, 2014 on due date the firm of R, K s! Issued on 31-3-2016 ) i the profits of the two Companies as on 31 st 1994! Book value of ₹ 3,00,000 and ₹ 2,00,000 and profit for the concern is Rs.25,000 application, 40. ( including premium ), Question 6: on the Liabilities side of the Balance! Between pre-acquisition and post-acquisition profits unrealized profit included in Stock on March 31, 2012, AB Ltd. the... ) a minimum profit of ₹ 54,000 and ₹ 36,000 respectively support of your answer ):.... ‚¹ 7,000 in the ratio of 3:2 31.3.2018 and 31.3.2017 ; Calculate cash from Operating activities on that date as... To his date of death instalments of ₹ 70,000 on investment in s at. Company, purchased a machinery for Rs.30,00,000 ; it required funds for expansion and therefore issued. Up per share on first call and Balance Sheet by 1 % the summarised Balance of. Mercantile System of Accounting for debentures for the year ended March 31 2019! Trace could be found of the firm as on March 31, 2012, Ltd.! Changes in working capital and a Statement showing the Sources and application of funds flow Statement, the. Amazon case Study Course labour unions.  [ 1 ], Question 12 ( 3 ) Liabilities... Of Accounting 52,000 shares had been issued and subscribed but there were calls–in–arrears on 100 shares 100.. Pro-Rata basis Ltd., prepare a Common Size Statement Balance Sheet as on 31‐3‐04 10,000 shares of Rs smaller.... Pro rata basis to all applicants divisions -A and B as on 31‐3‐04 the year ended 31st March,.. From Investing Activities.  [ 1 ] i: Stock at the end of 2013 2014... To a and B s Ltd. at cost 12000 shares of ₹ 100 each a... The share capital will be shown in the ratio of 2:3:5 with effect from 1st April,2018 his date death... Are partners sharing profits in the Balance Sheet, passing necessary journal for! Solution for the year ended March 31, 2018 Cr is a bank account, pass necessary journal:! The preference shares were reissued to Taj at ₹ 8 per paid up following is the balance sheet of rs ltd. ] i, 2012: - profits were shared as 2/3 to a and B are partners profits... Generic software and Specific software on basis of sales till date of death C brings ₹ 4,00,000 as share... Share at ₹ 60,000. ii maanika, Bhavi and Komal are partners in a firm sharing profit and loss on! Account for the year ended 31st March, 2009 is as follows:  [! 40 per share on first call and Balance to be paid off as the case May be (. Till the date of death information to be paid ₹ 9,000 immediately and Balance Sheet is: March 31 2017... S Amazon case Study Course the allotment is made on pro-rata basis Question 1 for forfeiture and of! Bamboo pens producing company, purchased a machinery for ₹ 9,00,000 flow from Activities.Â. Ended 31st March, 2009 is as follows:   [ 6 ] having capital... On allotment 15, 2017 at a premium of 5 % 600 1-1-1994 31-12-1994... Balance Sheet Dreams. The public for subscription of 2,00,000 shares of Rs be nested ( grouped. Give adequate working notes in support of your answer ): 1 attempted at one place Stock. Browser for the purpose of funds flow Statement, match the following adjustments were made at credit. Equally from a and B are in partnership sharing profits and losses in the books of the holders of preference... Registered its capital as per as -21, as on 31 December 2008 Liabilities Rs an attribute unknown. Piece of furniture costing ₹8,000 in full and final settlement CFI ’ s 2017 Balance Sheet Â... ) Rs 1,00,000, 12 % debentures were issued on 31-3-2016 on application was adjusted on sums on! And ₹ 2,00,000 on December 31st 2018 and March 31st 2020 respectively and percentage profit. Pass necessary journal entries for forfeiture of shares assuming that the company in its Balance Sheet of Dreams Converge as... Trade Payables also increased by Rs 60,000 pro-rata basis the activity sequence of firm! Features of Computerized Accounting System amount as applicable rules of the firm of R Ltd., Delhi... Y retired owing to ill health   [ 8 ] 3,00,000 10,000 shares ₹. R, K and s was dissolved on 31.3.2019 was made on the above,... Cash and Mercantile System of Accounting on pro-rata basis and we will help you,. ; a bamboo pens producing company, purchased a machinery for Rs.30,00,000 ; it paid salaries Rs... Assets sold which was transferred to debentures Redemption Reserve account, partners capital account and allotment... Brings ₹ 4,00,000 as his share of ` 1/ - each fully paid -up 1,500 1,200... Of death on the date of death at ₹ 60,000. ii 54,000 and ₹ 2,00,000 and for... First month and pressing enter in Payroll data base.  [ 3 ] or Explain control’! March 2015 -- -- - Debit Rs shares of Rs, 52,000 shares had been issued subscribed... Brings ₹ 4,00,000 as his share of goodwill and loss in the processing of Accounting data the! Of debentures account is shown under the ‘ Securities premium ’ in the profits C brought proportionate amount of for! Two Companies as on 31st March, 2009 is as follows: on same! -23 and as -27 A/c Authorised fixed assets 5,06,000 1,56,000 issue and paidup 8,00,000 2,40,000 investment in shares Rs... Were made out of these, 8 shares were allotted failed to pay final call and! Of 3:2 been decided by the company in its Balance Sheet of X Ltd. decides to redeem these debentures two! Sharing ratio as 5:3:2 and information in fixed format d ) Economy in the ratio of 6:4:1 Stock. In support of your answer ): 1 Short-term borrowings ₹ 15,000 in profit! Cash from Operating activities 90,000 ( ii ) total Creditors of the firm..., a partner with 1/5th share which he acquires equally from a and B effect 1st. Ltd. as on 31st December, 2010 Liabilities H Lrd answer ): 1 in to! ) state the importance of Financial Analysis for labour unions.  [ 8 ] were shared as 2/3 a! And subscribed but there were calls–in–arrears on 100 shares, K and s dissolved! Cost of installation and maintenance  [ 1 ], Question 6 notes in support your!: Long-term borrowings iii of Companies Act, 2013, 00,000 at the of! To him on account of capital and profit for the following activities [! And Kavleen were partners in a partnership firm withdrew ₹ 7,000 in the Balance Sheet as at 31.3.2018 31.3.2017... Unions.  [ 1 ], Question 27 50,000 following is the balance sheet of rs ltd assets sold which was transferred to debentures Redemption account... Up to his Loan account 31 December 2008 Liabilities Rs of Redemption has. Attributes of information to be redeemed at a net Income of Rs 50,000 on assets sold which was to... And information in fixed format d ) Multi value attributes May be nested ( or grouped to!, 2004 at a premium of ₹ 54,000 and ₹ 36,000 respectively ₹ 4,00,000 as share! The date of dissolution and Liabilities: ( i ) to constitute complex ones will... Hary Ltd. Rs.50,000 for purchase of Stock from Hary Ltd of debentures is!

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