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Prepare a Comparative Statement of profit from the following:
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Compute 'Trade Receivables Turnover Ratio' from the following information: Total Revenue from Operations ₹ 5,20,000, Cash Revenue from Operations 60% of the Credit Revenue from Operations, Closing Trade Receivables ₹ 80,000, Opening Trade Receivables are $\frac{3}{4}\text{th}$ of Closing Trade Receivables.
→R Ltd. issued 8,000, 13% Debentures of ₹ 100 each at a discount of 5% payable as follows:
Public applied for 6,000 debentures. All the moneys were duly received. Expenses on issue of debenture amounted to ₹ 20,000. Directors decided to write off $\frac{1}{5}\text{th}$ of "Expenses on Issue A/c'' and "Discount on Issue of Debentures A/c'' from Statement of P & L each year.
Pass journal entries (for first year only).
→| On Application | ₹ 25 |
| On Allotment | ₹ 25 |
| On First and Final Call | The balance amount |
Pass journal entries (for first year only).
The Hindustan Manufacturing Ltd. had a total subscribed capital of ₹ 10,00,000 in Equity Shares of ₹ 10 each of which ₹ 7.50 were called-up. A final call of ₹ 2.50 was made and all amount paid except two calls of ₹ 2.50 each in respect of 100 shares held by D. These shares were forfeited and reissued at ₹ 8 per share.
Pass necessary journal entries (including that of cash) to record the transactions of final call, forfeiture of shares and reissue of forfeited shares. Also, prepare the Balance Sheet of the company.
Pass necessary journal entries (including that of cash) to record the transactions of final call, forfeiture of shares and reissue of forfeited shares. Also, prepare the Balance Sheet of the company.
On April 1st, 2013 following were the balances of Blue Bird Ltd.
Required investment was made earning interest @ 8% p.a.
On 31 March, 2014 the Board of Directors transferred the required amount to DRR and debentures were redeemed.
Pass necessary Journal entries for the above transactions in the books of the company.
| 10% Debentures (redeemable on 31st March, 2015) | ₹ 30,00,000 |
| Debenture Redemption Reserve | ₹ 5,00,000 |
On 31 March, 2014 the Board of Directors transferred the required amount to DRR and debentures were redeemed.
Pass necessary Journal entries for the above transactions in the books of the company.
Prepare Balance Sheet of X Ltd. as at 31st March, 2016 from the following information:
Jeevan Dhara Ltd. invited applications for issuing 1,20,000 equity shares of
₹ 10 each at a premium of
₹ 2 per share. The amount was payable as follows:
On application –
₹ 2 per share.
On allotment – ₹
5 per share (including premium)
On first and final call – balance.
Applications for 1,50,000 shares were received. Shares were allotted to all the applicants on pro-rata basis. Excess money received on applications was adjusted towards sums due on allotment. All calls were made. Manu who had applied for 3,000 shares failed to pay the amount due on allotment and first and final call. Madhur who was allotted 2,400 shares failed to pay the first and final call. Shares of both Manu and Madhur were forfeited. The forfeited shares were re-issued at
₹ 9 per share as fully paid up.
Pass necessary journal entries for the above transactions in the books of Jeevan Dhara Ltd.
₹ 10 each at a premium of ₹ 2 per share. The amount was payable as follows:On application –
₹ 2 per share.On allotment – ₹
5 per share (including premium)On first and final call – balance.
Applications for 1,50,000 shares were received. Shares were allotted to all the applicants on pro-rata basis. Excess money received on applications was adjusted towards sums due on allotment. All calls were made. Manu who had applied for 3,000 shares failed to pay the amount due on allotment and first and final call. Madhur who was allotted 2,400 shares failed to pay the first and final call. Shares of both Manu and Madhur were forfeited. The forfeited shares were re-issued at
₹ 9 per share as fully paid up.Pass necessary journal entries for the above transactions in the books of Jeevan Dhara Ltd.
The Balance Sheet of A Ltd. as at 31-3-2018 and 31-3-2017 were as follows:
Notes:
Additional Information:
Notes:
Additional Information:
- Depreciation written off on fixed assets was ₹ 18,000.
- Interest paid on Long-term Borrowings amounted to ₹ 3,000.
- Income tax of ₹ 15,000 has been paid.
From the following data, calculate:
- Gross Profit Ratio.
- Operating Ratio.
- Net Profit Ratio.
- Inventory turnover Ratio.
- Current Ratio.
Prepare a Common Size Balance Sheet of X Ltd. from the following information:
Luxury cars Ltd. Invited applications for issuing 10,000 equity shares of ₹ 50 each at a premium of ₹ 100 per share. The amount was payable as follow:
The issue was fully subscribed. A shareholder holding 400 shares paid .his entire share money at the time of application. Another shareholder holding 300 shares did not pay the allotment money. His shares were forfeited The forfeited shares were later on re-issued for ₹ 90 per share as fully paid up.
Pass necessary journal entries for the above transactions in the books of the company.
|
On application
|
₹ 75 per share (including ₹ 50 premium)
|
|
On allotment
|
The balance
|
Pass necessary journal entries for the above transactions in the books of the company.