Question
Which value has been affected by forfeiting above mentioned 3,000 shares just after first call. Suggest a better alternative.
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Answer
- Value affected by forfeiting the shares just after first call is the investor's confidence and stimulus for applying in the public issue of companies.
- Better alternative would have been giving him ample time to make the payment of first call together with second call and then forfeit the shares after giving due notice.
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Pass necessary journal entries relating to the issue of Debentures for the following:
Issued ₹ 30,000; 10% Debentures of ₹ 100 each at a premium of 10% and redeemable at a premium of 15%.
Issued ₹ 30,000; 10% Debentures of ₹ 100 each at a premium of 10% and redeemable at a premium of 15%.
From the following information, calculate interest coverage ratio and give your comments also:
Pass journal entries in the following cases:
A Co.Ltd. issued ₹ 40,000; 12% Debentures at a premium of 10% redeemable at 110%.
A Co.Ltd. issued ₹ 40,000; 12% Debentures at a premium of 10% redeemable at 110%.
Following is the extract from the Balance Sheet of Zee Ltd.:
Additional Information:
|
Particulars
|
31st March, 2018 ₹
|
31st March, 2017 ₹
|
|
Equity Share Capital
10% Preference Share Capital
Surplus, i.e., Balance in Statement of Profit and Loss
Unpaid Dividend
|
8,00,000
6,00,000
7,20,000
20,000
|
8,00,000
6,00,000
4,00,000
……
|
- Proposed equity dividends for the year 2016-17 and 2017-18 are ₹ 1,60,000 and 2,00,000 respectively.
- An Interim Dividend of ₹ 40,000 on Equity Shares was paid.
A company purchased a running business from M/s. Rai Brothers for a sum of ₹ 15,00,000 payable ₹ 12,00,000 in fully paid shares of ₹ 10 each and balance through cheque.
The assets and liabilities consisted of the following
You are required to pass necessary journal entries in the company's books.
The assets and liabilities consisted of the following
|
Plant & Machinery
|
₹ 4,00,000
|
Stock
|
₹ 4,00,000
|
|
Building
|
₹ 4,00,000
|
Cash
|
₹ 3,00,000
|
|
Sundry Debtors
|
₹ 3,00,000
|
Sundry Creditors
|
₹ 2,00,000
|
Cash Sales ₹ 2,20,000; Credit Sales ₹ 3,00,000; Sales Return ₹ 20,000; Gross Profit ₹ 1,00,000; Operating Expenses ₹ 25,000; Non-operating Incomes ₹ 30,000; Non-operating Expenses ₹ 5,000. Calculate Net Profit Ratio.
Pass journal entries for the forfeiture and re-issue in the following cases:
C Ltd. forfeited 700 shares of ₹ 10 each fully-called-up-on which the holder has paid application money @ ₹ 3 and allotment money @ ₹ 2 per share. Out of these, 300 shares were re-issued as fully paid @ ₹ 7 per share.
C Ltd. forfeited 700 shares of ₹ 10 each fully-called-up-on which the holder has paid application money @ ₹ 3 and allotment money @ ₹ 2 per share. Out of these, 300 shares were re-issued as fully paid @ ₹ 7 per share.
Calculate Debt to Equity Ratio: Equity Share Capital ₹ 5,00,000; General Reserve ₹ 90,000; Accumulated Profits ₹ 50,000 10% Debentures ₹ 1,30,000 Current Liabilities ₹ 1,00,000.
Total Debt ₹ 40,00,000; Share Capital ₹ 15,00,000; Reserve and Surplus ₹ 8,00,000; Current Liabilities ₹ 5,00,000; Working Capital ₹ 7,00,000. Calculate Total Assets to Debt Ratio.
Following is the extract from the Balance Sheet of Zee Ltd.:
Additional Information:
|
Particulars
|
31st March, 2018 ₹
|
31st March, 2017 ₹
|
|
Equity Share Capital
10% Preference Share Capital
Surplus, i.e., Balance in Statement of Profit and Loss
Unpaid Dividend
|
8,00,000
6,00,000
7,20,000
20,000
|
8,00,000
6,00,000
4,00,000
……
|
- Proposed equity dividends for the year 2016-17 and 2017-18 are ₹ 1,60,000 and 2,00,000 respectively.
- An Interim Dividend of ₹ 40,000 on Equity Shares was paid.