Financial Statements of a Company — Accountancy STD 12 Commerce — Question

Gagan Ltd. is registered with an authorised capital of ₹ 15,00,00,000 divided into 1,50,00,000 equity shares of ₹ 10 each. Subscribed and fully paid up share capital of the company was ₹ 5,00,00,000. For providing employment to the local youth and for the development of rural areas of Jharkhand State, the company decided to set up a food processing unit in Hazaribagh. The company also decided to set up skill development centres at Ranchi, Hazaribagh and Ramgarh. To meet its new financial requirements the company decided to issue 2,00,000 equity shares of ₹ 10 each and 2000, 12% debentures of ₹ 1,000 each. The issue of shares and debentures was fully subscribed. A shareholder holding 500 shares failed to pay the final call of ₹ 3 per share.
Show the share capital in the Balance Sheet of the company as per the provisions of Schedule III of the Companies Act, 2013. Also, identify any two values that the company wants to propagate.

Calculate Cost Of Revenue From Oprations from the following information:
Revenue from Operation ₹ 12,00,000; Oprating Ratio 75% Operating Expenses ₹ 1,00,000.

XYZ Limited's Inventory is ₹ 3,00,000. Total-Liquid Assets are ₹ 12,00,000 and Quick Ratio is 2 : 1. Work out Current Ratio.

‘Suvidha Ltd.’ is registered with an authorized capital of ₹ 10,00,00,000 divided into 10,00,000 equity shares of ₹ 100 each. The company issued 1,00,000 shares for public subscription. A shareholder holding 100 shares, failed to pay the final call of ₹ 20 per share. His shares were forfeited. The forfeited shares were re-issued at ₹ 90 per share as fully paid up.
Present the ‘Share Capital’ in the Balance Sheet of the company as per Schedule III Part I of the Companies Act, 2013. Also prepare ‘Notes to Accounts'.

On 1st April, 2016, Nissan Ltd. was formed with an authorised capital of ₹ 60,00,000 divided into 6,00,000 equity shares of ₹ 10 each. The Company issued prospectus inviting applications for 4,50,000 shares. The issue price was payable as under:

	₹
On Application	3
On Allotment	4
On call	Balance

Issue was fully subscribed and the company allotted shares to all the applicants.
The company did not make the call during the year. All money due on allotment was duly received except on 2,000 shares.
Show the Share Capital in the Balance Sheet of the Company.

₹ 6,30,000 is the cost of revenue from operations of a firm for the year 2018 If inventory turnover ratio is 7 times, calculate inventory at the end of the year. Inventory at the end is twice than that in the beginning.

From the following information, prepare Note to Accounts on Employees Benefit Expenses:
Wages ₹ 2,70,000; Salaries ₹ 3,60,000; Staff Welfare Expenses ₹ 60,000; Printing and Stationery Expenses ₹ 20,000 and Business Promotion Expenses ₹ 50,000.

Calculate Debt to Equity Ratio from the following information:

	₹
Fixed Assets (Gross).	8,40,000
Accumulated Depreciation.	1,40,000
Non-current Investments.	14,000
Long-term Loans and Advances.	56,000
Current Assets.	3,50,000
Current Liabilities.	2,80,000
10% Long-term Borrowings.	4,20,000
Long-term Provisions.	1,40,000

Jain Ltd purchased machinery costing ₹ 10,00,000 from Ayer Ltd. 50% of the payment was made by cheque and for the remaining 50, the company issued Equity Shares of ₹ 100 each at a premium of 25%.
Pass necessary Journal entries in the books of Jain Ltd. for the above transaction.

From the following information, calculate Change in inventory of work-in-Progress:
Opening and Closing Work-in-Progress ₹ 1,50,000 and ₹ 1,45,000 respectively.