Cash Flow Statement — Accountancy STD 12 Commerce — Question

X Ltd. is in the business of construction of housing projects. The Company decided to construct one hundred low cost houses for economically weaker section of the society and provide these houses to them at highly subsidised rates. Following is the Comparative statement of Profit and Loss of X Ltd. for two consecutive years:
You are required to:

1. Fill in the missing figures in the Comparative Statement of Profit & Loss.
2. Compute the Net Profit Ratio for both the years.
3. Identify the value involved.

From the above, Compute Operating Ratio.

Prince Limited issued a prospectus inviting applications for 20,000 equity shares of ₹ 10 each at a premium of ₹ 3 per share payable as follows:

On Application	-	₹ 2,
On Allotment (including premium)	-	₹ 5,
On First Call	-	₹ 3,
On Second call	-	₹ 3,

Applications were received for 30,000 shares and allotment was made on pro rata basis. Money overpaid on application s was adjusted to the amount due on allotment.
Mr. Mohit whom 400 shares were allotted, failed to pay the allotment money and the first call, and his shares were forfeited after the first call. Mr. Joly, whom 600 shares were allotted, failed to pay for the two calls and hence, his shares were forfeited.
Of the shares forfeited, 800 shares were reissued to Supriya as fully paid for ₹ 9 per share, the whole of Mr Mohit's shares being included.

VXN Ltd. invited applications for issuing 50,000 equity shares of ₹ 10 each at a premium of ₹ 8 per share. The amount was payable as follows:

On Application	-	₹ 4 per share (Including ₹ 2 premium);
On Allotment	-	₹ 6 per share (Including ₹ 3 premium);
On First Call	-	₹ 5 per share (Including ₹ 1 premium); and
On Second and Final Call	-	Balance Amount

The issue was fully subscribed. Gopal, a shareholder holding 200 shares, did not pay the allotment money and Madhav, a holder of 400 shares, paid his entire share money along with the allotment money. Gopal's shares were immediately forfeited after allotment. Afterwards, the first call was made. Krishna, a holder of 100 shares, failed to pay the first call money and Girdhar, a holder of 300 shares, paid the second call money also along with the first call. Krishna's shares were forfeited immediately after the first call. Second and final call was made afterwards and was duly received. All the forfeited shares were reissued at ₹ 9 per share fully paid-up.
Pass necessary journal entries for the above transactions in the books of the company.

On 1st April, 2014, following were the balances of Blue Bird Ltd:

10% Debentures (redeemable on 30th September, 2017).	₹ 15,00,000
Debentures Redemption Reserve.	₹ 2,00,000

The company met the requirements of the Companies Act, 2013 regarding Debentures Redemption Reserve and Investment and redeemed the debentures.
Pass necessary journal entries for the above transactions in the books of the company.

Show by means of journal entries how would you record the following issues.
C Ltd. purchased plant and machinery for ₹ 8,00,000 payable as to ₹ 2,30,000 in cash and the balance by an issue of 10% Debentures of ₹ 100 each at a discount of 5%.

From the following Balance sheet of Depth Ltd as at 31 march, 2018, prepare comparative Balance sheet:

Alfa Ltd. issued 5,000 shares of ₹ 100 each at par. The amount payable was as under:
₹ 25 on application;
₹ 25 on allotment;
₹ 20 on first call;
₹ 30 on final call.
The company did not make final call. X, a holder of 100 shares, failed to pay allotment and first call money. Directors forfeited his shares and immediately re-issued the forfeited shares at ₹ 6,500.
Pass Journal entries in the books of the company and show the Share Capital in the Balance Sheet.