Cash Flow Statement — Accountancy STD 12 Commerce — Question

On 1st April, 2014, Blue Heaven Ltd. was formed with an authorised capital of ₹ 20,00,000 divided into 2,00,000 equity shares of ₹ 10 each. The company issued prospectus. inviting applications for 1,50,000 equity shares the company received applications for 1,40,000 equity shares. During the first year, ₹ 7 per share were called. Arun holding 4,000 shares and Varun holding 3,000 shares did not pay the first call of ₹ 2 per share. Varun's shares were forfeited after the first call and later on 1,800 of the forfeited shares were re-issued at ₹ 5 per share, ₹ 7 called up.
Show the following:

1. Share Capital in the Balance Sheet of the company, as per Schedule III Part I of the Companies Act, 2013.
2. Also prepare 'Notes to Accounts' for the same.

Give the 'headings under which the following items will be shown in a company's Balance Sheet:

1. Mining Rights.
2. Debtors.
3. Interest on Calls in Advance.
4. Work-in-progress.
5. Mortgage Loan.
6. Bonds.

Ghosh Ltd. made the second and final call on its 50,000 Equity Shares @ ₹ 2 per share on 1st January, 2016. The entire amount was received on 15th January, 2016 except on 100 shares allotted to Venkat. Pass necessary journal entries for the call money due and received by opening Calls-in-Arrears Account.

Net Profit after Interest and Tax ₹ 51,000; Shareholder's Funds ₹ 3,00,000; 15% Long-Term Debt ₹ 1,00,000. Tax Paid ₹ 34,000. Calculate Return on Investment.

Z Ltd. had issued following debentures:

1. 1,00,000, 10% fully convertible debentures of ₹ 100 each on 1st April, 2016 redeemable by conversion after 5 years.
2. 20,000, 10% Debentures of ₹ 100 each redeemable after 4 years, 25% Debentures in Cash and 75% by conversion.

State the amount of DRR required to be created as per the Companies Act, 2013.

The following balances appeared in Plant Account and Accumulated Depreciation Account in the books of Bharat Ltd. Additional Information:Plant costing ₹ 1,45,000; accumulated depreciation thereon ₹ 70,000, was sold for ₹ 35,000.
You are required to:

1. Compute the amount of Plant purchased, depreciation charged for the year and loss on sale of plant.
2. Show how each of the items related to the plant will be shown in the cash flow statement.

Name any two items that are shown under the head 'other current liabilities and any two items that are shown under the head 'other current assets' in the balance sheet of a company as per Schedule III of the Companies Act, 2013.

Calculate Total Assets to Debt Ratio from the following information:

Particulars	₹	Particulars	₹
Total Assets.	15,00,000	Bills Payable.	60,000
Total Debts.	12,00,000	Bank Overdraft.	50,000
Creditors.	90,000	Outstanding Expenses.	20,000

The Directors of a Company forfeited 500 shares of ₹ 10 each issued at a premium of ₹ 3 per share, for the, non-payment of the first call money of ₹ 3 per share. The final call of ₹ 2 per share has not been made. Half the forfeited shares were reissued at ₹ 2,500 fully paid. Record the journal entries for the forfeiture and reissue of shares.

Operating Cycle and the period when payment is made is given below. How will you classify the liability?

Particulars	(i)	(ii)	(iii)	(iv)	(v)	(vi)
Operating Cycle (Months)	9	11	11	18	18	10
Expected Period when payment is made (Months)	12	12	13	20	16	12