Question
Give the difference between Share and Debenture.
✓
Answer
SELF
Need a full question paper?
Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.
Explore more
Similar questions
Dhruvil, Gopi and Mukund are partners the in a partnership firm. Their profit and loss sharing ratio is $1:1:1.$ All partners have decided to change the profit and loss sharing ratio in future to $1:2:3.$ Calculate the gain ratio.
→From the following given information calculate cash flow from investing activities:
→| Particulars | $(Rs.)$ |
| Sale of non-current investments | $88,000$ |
| Purchase of land | $1,48,00$ |
| Purchase of machine | $98,000$ |
| Sale of furniture | $45,000$ |
| Dividend received on investments | $40,000$ |
| Paid for goodwill | $32,000$ |
| Issue of shares | $1,20,000$ |
| Redemption of debentures | $45,000$ |
| Loan borrowed | $28,000$ |
Pass journal entries at the time of dissolution for the following transactions:
(i) Dissolution expenses of the firm are $₹ 10,000$.
(ii) Bad-debts of ₹ 12,000 were written off, out of which ₹ 8,000 is received.
(iii) There is no value of goodwill in the books of a firm. But at the time of dissolution ₹ 40,000 realised for it.
→(i) Dissolution expenses of the firm are $₹ 10,000$.
(ii) Bad-debts of ₹ 12,000 were written off, out of which ₹ 8,000 is received.
(iii) There is no value of goodwill in the books of a firm. But at the time of dissolution ₹ 40,000 realised for it.
Prakhar Limited issued $8000; 7.5\%$ convertible debentures of $₹ 200$ each at par as on April $1, 2014.$ As per the terms of issue of debentures, all the debentures will be converted into shares after $4$ years and for this one equity share of $₹ 10$ each will be issued at a premium of $25 \%$ against each debenture.
As per the agreed terms, all the debentures are converted into shares as on April $1, 2018.$ Write necessary journal entries in the books of company.
→As per the agreed terms, all the debentures are converted into shares as on April $1, 2018.$ Write necessary journal entries in the books of company.
Mitali and Devanshi are the partners of a partnership firm. Profit-loss sharing ratio between them is $3: 2$. The following are the balances in the books of the firm as on $31-3-2019.$
Profit-loss A/c $($Credit balance$) ₹ 30,000$
Reserve fund $₹ 45,000$
Worker's accident compensation fund $₹ 42,000$
On the above date, Mitali and Devanshi decided to change new profit sharing ratio at $2: 1$. A claim of $₹ 12,000$ is outstanding against the worker's accident compensation fund. Pass journal entries showing distribution of accumulated profit and losses in the books of the firm.
→Profit-loss A/c $($Credit balance$) ₹ 30,000$
Reserve fund $₹ 45,000$
Worker's accident compensation fund $₹ 42,000$
On the above date, Mitali and Devanshi decided to change new profit sharing ratio at $2: 1$. A claim of $₹ 12,000$ is outstanding against the worker's accident compensation fund. Pass journal entries showing distribution of accumulated profit and losses in the books of the firm.
Bhavna, Bharat and Bhumesh are the partners in a partnership firm sharing profit and loss in the ratio of $2:1:1.$ The following is their balance sheet as on $31-3-2017.$
Partners have decided to revaluate the assets and liabilities on the date of the above balance-sheet.
$(1)$ The value of land is $₹ 7,00,000.$
$(2)$ The value of building is increased by $1,00,000.$
$(3)$ The market-value of machine is $2,50,000$ which is to be recorded in the books.
$(4)$ Provision for doubtful debts at $20\%$ on debtors.
$(5)$ Creditors amounting to $10,000,$ are not required to be paid.
$(6)$ Income receivable amounted to $5000$ and cutstanding expenses amounted to $3000$ which are to be recorded.
From the above information, write journal-entry in the books of partnership firm for revaluation and prepare revaluation A/c.
→Partners have decided to revaluate the assets and liabilities on the date of the above balance-sheet.
$(1)$ The value of land is $₹ 7,00,000.$
$(2)$ The value of building is increased by $1,00,000.$
$(3)$ The market-value of machine is $2,50,000$ which is to be recorded in the books.
$(4)$ Provision for doubtful debts at $20\%$ on debtors.
$(5)$ Creditors amounting to $10,000,$ are not required to be paid.
$(6)$ Income receivable amounted to $5000$ and cutstanding expenses amounted to $3000$ which are to be recorded.
From the above information, write journal-entry in the books of partnership firm for revaluation and prepare revaluation A/c.
Write journal entries for the following assets-liabilities revaluation:
→| Assets and Liabilities | Book Value | Revaluation Value |
| Machinery | $1,00,000$ | $80,000$ |
| Land | $3,00,000$ | $5,00,000$ |
| Creditors | $1,00,000$ | $95,000$ |
| Outstanding expenses | $-$ | $3,000$ |
| Income receivables | $-$ | $2,000$ |
Pass journal entrics for the following transactions of firm in the case of firm's dissolution :
$(1)$ At the time of dissolution the book value of goodwill is $₹ 56,000 .$ No amount is realised.
$(2)$ The value of laptop is $₹ 35,000 .$ One partner has taken it for $₹ 25,000$.
$(3)$ Income tax liability is now payable $₹ 30,000$, it is not recorded in the book.
→$(1)$ At the time of dissolution the book value of goodwill is $₹ 56,000 .$ No amount is realised.
$(2)$ The value of laptop is $₹ 35,000 .$ One partner has taken it for $₹ 25,000$.
$(3)$ Income tax liability is now payable $₹ 30,000$, it is not recorded in the book.
Profit and loss statement for the year ending on $31-32016$ and $31-3-2017$ of Mina Company Limited are as follows. Prepare comparative profit and loss statement.
→| Particulars | Note | $31-3-2017$ | $31-3-2016$ |
| No. | $(Rs.)$ | $(Rs.)$ | |
| Sales revenue | $45,00,000$ | $52,00,000$ | |
| Other income | $2,00,000$ | $10,00,000$ | |
| Net purchase | $32,00,000$ | $38,00,000$ | |
| Other Expenses $(\%$ of sales$)$ | $22\%$ | $18\%$ | |
| Changes in stock | $(2,00,000)$ | $(1,00,000)$ | |
| Income tax rate $30\%.$ |
Aroma limited issued $12,000, 8\%$ debentures of $₹ 100$ each at par as on $1/7/07.$ These debentures are to be redeemed on $30/6/13$ at $₹ 115$ per debenture. Pass the necessary journal entries the books of the company for Issued and redemption of debentures. $($without narration$)$
→