Distinguish between shares and debentures [Three points]. - Vidyadip

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Distinguish between shares and debentures [Three points].

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On $1.08 .2017 ,$ Nanavati Ltd. issued $8,000,9 \%$ debentures of $₹ 100$ each at par. These debentures are to be redeemed on $31.07 .2022$ at $₹ 120$ per debenture. Pass necessary journal entries in the books of the company for the issue and redemption of debentures $[$Without narration$].$

Describe the legal provisions pertaining to loss of dissolution of a partnership firm.

Aaju, Baju and Kaju are partners in a firm sharing profit and loss in the ratio of $2:2:1.$ They decided to share profits and losses in the ratio of $3:2:1$ in future. From this information calculate share of sacrifice by partner.

$X$ and $Y$ are the partners sharing profit and loss in the ratio of $5: 4 .$ They admitted $Z$ as a new partner. All the three partners will distribute future profit in equal proportion. $($Calculate only sacrificing ratio.$) $

Write adjustment entries for the following adjustments :
Mahendra lended loan of $₹ 25,000$ to the firm, but $10 \%$ for $6$ months is outstanding on it.

Pravin, Mahendra and Arvind are the partners of a partnership firm. Their profit-loss sharing ratio is $5 : 2: 2.$ All the partners have decided to change the profit-loss sharing ratio to $2/9, 3/9 $, and $4/9$ as new ratio. From this information find out what sacrifice has been made by which partner by using sacrifice formula. From above information, by using gain formula find out what sacrifice has been made by Which partner.

Find out balancing figures of comparative statement of Kalpana Company Limited.

Particulars	Note	$31-3-2016$	$31-3-2017$	Increase/	Increase/
Particulars	No.	$(Rs.)$	$(Rs.)$	Decrease$(Rs.)$	Decrease$(\%)$
$(I)$ Sales revenue		$?$	$15,00,000$	$5,00,000$	$50$
$(II)$ Expenses:
$(i)$ Purchase		$?$	$7,20,000$	$1,20,000$	$20$
$(ii)$ Changes in stock		$?$	$1,50,000$	$-$	$-$
$(iii)$ Depreciation		$?$	$1,00,000$	$50,000$	$100$
Total Expenses		$?$	$9,70,000$	$1,70,000$	$21.25$
$(III)$ Profit before tax		$?$	$5,30,000$	$3,30,000$	$165$
$(IV)$ Less : Income tax $(30\%)$		$?$	$1,59,000$	$99,000$	$165$
$(V)$ Profit after tax		$?$	$3,71,000$	$2,31,000$	$165$

Write difference beteween dissolution of partnership and dissolution of partnership firm (Any Three points).

Balance sheets of two years of Saurashtra Limited are as follows. Prepare common size statements.

Particulars			Note	$31-3-2017$	$31-3-2016$
Particulars			No.	$(Rs.)$	$(Rs.)$
$(1)$		Equity and Liabilities:
	$1.$	Shareholders' funds:
		$(a)$ Share capital :
		$(i)$ Equity share capital		$25,00,000$	$25,00,000$
		$(ii)$ Preference share capital		$15,00,000$	$-$
		$(b)$ Reserves and surplus:
		$(i)$ General reserve		$8,00,000$	$6,00,000$
		$(ii)$ Profit-loss account		$4,50,000$	$6,00,000$
	$2.$	Non-current liabilities:
		$9\%$ bank loan		$15,00,000$	$15,00,000$
	$3.$	Current liabilities:
		$(i)$ Short-term borrowings		$6,00,000$	$2,00,000$
		$(ii)$ Other current liabilities		$1,50,000$	$6,00,000$
		Total		$75,00,000$	$60,00,000$
$(2)$		Assets :
	$1.$	Non-current assets
		$(a)$ Fixed assets
		$(1)$ Tangible assets :
		Machines		$15,00,000$	$20,00,000$
		Land-building		$25,00,000$	$15,00,000$
		$(ii)$ Intangible assets :
		Trademark		$5,00,000$	$3,40,000$
		Goodwill		$4,50,000$	$-$
		$(b)$ Non-current investments		$15,00,000$	$15,00,000$
	$2.$	Current assets :
		$(i)$ Debtors		$3,75,000$	$3,00,000$
		$(ii)$ Stock		$3,75,000$	$2,40,000$
		$(iii)$ Cash and cash equivalent		$3,00,000$	$1,20,000$
		Total		$75,00,000$	$60,00,000$

On $1-6-2017$ Vandana Limited issued $10,000, 8 \%$ debentures of $₹ 200$ each at a premium of $5 \%.$ The debentures are redeemed on $31-5-2022$ at $₹ 220$ per debenture. Write the necessary journal entries in the books of company $($without narration$).$