(1) Rs 1,00,000, 12% Debentures were issued on 31-3-2016. No trace could be found of the holders of 60 preference shares. b) 12 % Debentures were issued at a discount of 10% to a vendor of machinery for payment of ₹ 9,00,000 Following is the Balance Sheet of Govind Ltd. as on March31 st Liabilities Amount Paid-up Capital 8,000 Equity Shares of Rs.100 8,00,000 8% Debentures 14,00,000 Accrued Interest 70,000 Total Creditors 4,50,000 Income Tax Liability 10,000 27,30,000 Assets Amount Fixed Assets Land, Buildings & Machinery 14,00,000 Other Assets Stock 1,00,000 Debtors 40,000 Investment 15,000 Cash in Hand … Bringing the cursor to the first month and pressing enter. They decided to share future profits in the ratio of 2:3:5 with effect from 1st April,2018. Liabilities Equity share of ` 1/ - each fully paid -up 1,500 600 1,200 1,200 Amit, a partner in a partnership firm withdrew ₹ 7,000 in the beginning of each quarter. (ii) Stock of stationery on 1-4-2017 was Rs. It earned a profit of Rs… 3,000 and Interest on bank loan Rs. Gautam and Yashica are partners in a firm, sharing profits and losses in 3:1 respectively. … For the debts of the firm to the third parties; Question 4. Q. In respect of goods supplied. 2. A and B for a payment of Rs 3,00,000 to be made in the form of equity shares of Rs 100 each credited as Rs 80 paid. A Ltd. holds 75% of the paid -up capital of B Ltd. and the balance is held by a foreign company. Average cash balance required for the concern is Rs.25,000. Faith and Belief Ltd has total redeemable debentures of ₹ 5,00,000. 1. Question 17. List any two attributes of information to be stored in Payroll data base.   [1]. The summarized Balance Sheets of the two companies as on that date were as follows : Particulars H Ltd. Rs. 50,000 and Debtors Rs. Period. Ltd. credited the dividend to its profit and loss account. was Rs. Equity and Liabilities : (1) Shareholder's Funds (a) Share Capital : 9,00,000. Question 29. PART B On 1st call – ₹ 30 On Final Call Balance Following is the summarised Balance Sheet of Mona Ltd. as on 31‐3‐04. 48,00,000. Allotment was made on pro rata basis to all applicants. The company issued prospectus inviting applications for 50,000 equity shares of ₹ 100 each payable as ₹ 20 on application, ₹ 30 on allotment, ₹ 20 on first call and balance on second call.   [4] (a) Pass a journal entry in each of the following cases. 4,00,000 were made out of which goods worth Rs. b) The display becomes Edit Screen in Reconciliation mode. March 31 every year. Balance Sheet Example. From the following particulars prepare a trading and profit and loss account : ... 31-12-1993 Balance c/d (2% on Rs. 6,50,000. The summarised Balance Sheet of H Ltd. and its S Ltd. on 31st December 2004 are as follows: S Ltd. had the credit balance of Rs 30,000 in the Reserves when H Ltd. acquired shares in S Ltd. decided to make a bonus issue out of post-acquisition profits of two shares of Rs … All parts of a question should be attempted at one place. The partners of a firm, Alia, Bhanu and Chand distributed the profits for the year ended 31st March, 2017, ₹ 80,000 in the ratio of 3:3:2 without providing for the following adjustments: Click here👆to get an answer to your question ️ Following is the Balance Sheet of X and Y as at 31^st March,2018 who are partners in a firm sharing profits and losses in the ratio of 3:2 respectively:Liabilities(Rs.)Assets(Rs. The following trial balance has been taken from MAW Ltd on 30 April 2013, after the preparation of the Trading and Profit and Loss Account for the year. i. (2)  During the year a piece of machinery costing Rs 80,000 on which accumulated depreciation was Rs 40,000 was sold at a loss of Rs 10,000. Rs 100 as pre-acquisition dividend has been credited to investments account. On the above date, the partners changed their profit-sharing ratio to 2 : 2 : 1. Main objective of Common Size Balance Sheet is: From the following Receipts and Payments Accounts of Rolaxe Club, for the year ended 31st March, 2019. Record the journal entries for forfeiture and reissue of shares by opening call in arrear, call in advance account. Solution: Dr. Income and Expenditure A/c for the year ended March 31, 2018 Cr. Solution for The following are the balance sheet of X Ltd. And Y Ltd., as on 31 st march 2005 Liabilities Rs. The company also sold an old machine of the book value of ₹ 79,000 at a loss of ₹ 10,000. The total goodwill of the firm was valued at ₹ 60,000. Investing Activity Saregama Ltd invited applications for issuing 80,000 equity shares of ₹ 100 each at a premium of ₹ 10. Pass the necessary journal entry.   [1], Question 9. Absolute Amounts (iv) Say Ltd. owed Hary Ltd. Rs.50,000 for purchase of stock from Hary Ltd. 1. or It received dividend of ₹ 70,000 on investment in shares. 8 Balance sheet of PQR itd is given to you: Liabilities Amt (rs) Assets Amt Equity Capital 400000 Goodwill 200000 Reserve Fund 280000 Land 400000 8% Debentures 300000 Plant 350000 Mortgage loan 258000 Patent 50000 Creditors 70000 Stock 200000 Bills payable 35000 Debtors 80000 Bank overdraft 60000 Bills receivables 90000 Outstanding expenses 15000 Marketable securities 20000 … (2) The amount of Rs.10 lakhs … Out of these 20 shares were reissued to Taj at ₹ 8 per share. K Ltd. Rs. Question 32. On Application – ₹ 30 5,000,000 10 … Stock was re-valued at ₹ 2,10,000. (b) Tournament expenses- 14,000. The two basic measures of operational efficiency of a company are   [1] a) Provision for Doubtful Debts to be increased to 10% of Debtors. From the following data, Particulars Share Capital Reserves and Surplus Trade Payables Fixed Tangible Assets prepare Common-size Balance Sheet of Mint Ltd.: 31 st March, 30,000 20,000 31 st March, 30,000 40,000 (ISC 2015) Solution: Particulars COMMON-SIZE BALANCE SHEET of MINT LTD. as at 31st March, 2014 and 2013 Note No. Shares… Question 32. Pass necessary journal entry regarding deficiency borne by Maanika and Bhavi and prepare Profit and Loss Appropriation Account.   [4] Amount payable to Danish was transferred to his executors. Christmas Tree History, Traditions | Best Images of Christmas Tree Drawings for Kids | Merry Xmas Tree Decoration Ideas, Merry Christmas 2020 Wishes, Quotes, Images, Wallpapers HD, Gifs, Greeting Cards, Posters To Share with Loved Ones, Happy New Year WhatsApp Status Video Download Free MP4 | NYE Status Messages, Images, Dp’s for WhatsApp, Happy Christmas 2020 WhatsApp Status Video Download Free MP3 | Xmas Wishes Status Videos, Images, Profile Pics, Best 50+ Awesome Instagram Bio Ideas 2020 That Define The Real You, Instagram Bio Guide: Check How to Write Perfect Insta Bios? (d) 7.5%p.a. On June 30, 2017, R died. Pass necessary journal entries for the following after various assets (other than cash and Bank) and the third party liabilities had been transferred to realisation account.   [4] Machinery of the book value of 80,000 (accumulated depreciation ₹ 20,000 ) was sold at a loss of ₹ 18,000, PART B (Accounting for Not-for-Profit Organizations, Partnership Firms and Companies), Question 1. From the following Balance sheet of DCX Ltd and the additional information as at 31March …. 10,000; Wages Rs. Or Or Let us take the following example and show how the share capital will be shown in the balance sheet. Anand Ltd., arrived at a net income of Rs 5,00,000 for the year ended March 31, 2017. 90 paid up, decided to redeem preference shares at a premium of Rs.10 per share .The company’s balance sheet as on 31-3-2013 showed a general reserve of Rs.28,00,000.The redemption was effected partly out of the proceeds of … Sales for the year ended March 31, 2019 was ₹ 2,00,000 and profit for the same year was 10% on sales. i. Explain adjusting entries.   [3] What is meant by conditional formatting? Or Applications were received for ₹40,000 shares. Present the Share Capital as per Schedule III of Companies Act, 2013. Question 30. From the following Balance Sheet of R Ltd., Prepare a Common Size Statement Balance Sheet As at 31st March, 2019. How much amount will be transferred to General Reserve on 31st March, 2021 Attributes with single value for an entity. partner loan); From the following Balance Sheet of R Ltd., Prepare a Common Size Statement Balance Sheet As at 31st March, 2019. The preference shares were redeemed on 1st January, 2017 at a premium of 10%. a) ₹ 1,00,000 S Ltd. Rs. Following information is extracted from the Statement of Profit and Loss of Crypto Finance Ltd. For the year ended 31st March 2017 and 31st March 2018. (i) Katrak’s acceptance to Basu for ` 2,500 discharged by a cash payment of ` 1,000 and a new bill for the balance plus ` 50 for interest. (Analysis of Financial Statements), Question 23. Calculate Cash from operating activities. Question 31. Accountant has calculated new profit sharing ratio as 5:3:2. 60,000 on May 15, 2017 for his personal use. Prepare a consolidated Balance Sheet as on 31 st December 1994. ‘Vinod Ltd.’ is carrying on a paper manufacturing business. (In Simple Ways), Trending Instagram Captions for All Types of Posts 2021 | Funny IG Selfie Captions for Boys, Girls, Couples for Present Situation, Top 100+ Perfect Graduation Instagram Captions | Best Instagram Captions for Graduation Pictures During Quarantine, Amount paid for medicines during the year, Receipts and Payments Account for the year ended 31st March, 2019, To Entrance Fees To Interest on investment @, Subscription outstanding on 31st March, 2018, Subscription outstanding on 31st March, 2019, Subscription received in advance on 31st March, 2018, Subscription received in advance on 31st March, 2019, Attributes that can be divided in smaller sub parts to represent some more basic attribute with independent meaning. (ii) He withdrew Rs. (a) X Ltd. forfeited 10 shares of ₹ 10 each, ₹ 7 called up on which the shareholder had paid application and allotment money of ₹ 5 per share. I. Raman to whom 1600 shares were allotted failed to pay final call money and these shares were forfeited. Prepare Cash Flow Statement. 3,50,000 (3) Current Liabilities (a) Short-term borrowings. Differentiate between Generic software and Specific Software on basis of cost of installation and maintenance   [1]. While preparing Cash Flow Statement, match the following activities   [1] A bonus issue of 1 equity share for every 4 held was made on the same date. Dhwani, who was allotted 1,600 shares, failed to pay allotment money and Sargam who applied of 6,000 shares did not pay 1st call money. His share of profit up to his date of death on the basis of sales till date of death. From the following Balance Sheet as SRS Ltd and the additional information as in 31.3.2016, prepare a Cash Flow Statements: Additional Information: (i) ₹50,000 12% debentures were issued on 31.3.2016 (ii) During the year a piece of machinery costing ₹40,000 on which accumulated depreciation was ₹20,000 was sold at loss of ₹5,000. H Ltd. Rs. Question 20. (ii) Securities Premium Reserve (i) On 31st March, 2010 Maya Bank Ltd. finds that: (1) On a term loan of Rs.2 crores, interest for the last three quarters is in arrears beyond the due date. Adjustments: Stock at the end of year Rs. 31st March, 2023 – balance debentures. When a liability is discharged by a partner, at the time of dissolution, Capital Account is credited because ______. i. Assets Rs. M/s Mevo and Sons. Sunrise Company Ltd., New Delhi, has registered its capital as Rs. iii. 5,200 and Three months Excise duties is due, but not paid Rs. Following is the balance sheet of Banbaxy Ltd. as on March 31, 2006. Part B has two options – Analysis of Financial Statements and Computerised Accounting. It had cost Rs. 1, 90,000 (ii) A minimum balance in the bank shall be required for Rs. Particulars. a) Bringing up the monthly summary of Bank Book. Which of the following is not an advantage of computerised accounting system   [1] Which of the following situations may not require the use of null value   [1] It decides to redeem these debentures in two instalments of ₹ 3,00,000 and ₹ 2,00,000 on December 31st 2018 and March 31st 2020 respectively. Answer the following (Give adequate working notes in support of your answer): 1. (2) A piece of Machinery was sold for Rs. Asma is admitted as a partner for 3/8th share in the profits with a capital of ₹2,10,000 and ₹50,000 for her share of goodwill. Amalgamation expenses amounting to Rs 10 lakh were paid by Thick Ltd. You are required to: (i) Show the necessary ledger accounts in the books of Thin Ltd., (ii) Show the necessary journal entries in the books of Thick Ltd., and (iii) Prepare the balance sheet of Thick Ltd. after the amalgamation. They admit C as a partner with 1/5th share in the profits of the firm. (a) 12% p.a. 7,000 had been provided on it. State the order of payment of the following, in case of dissolution of partnership firm.   [1] 20,000, machinery Rs. Journalise the following transactions Bliss Products Ltd. registered with capital of ₹ 90,00,000 divided into 90,000 equity shares of ₹ 100 each. The Balance Sheet Page of Arvind Fashions Ltd. presents the key ratios, its comparison with the sector peers and 5 years of Balance Sheet. 4,50,000. Question 10. Fig. Ask questions, doubts, problems and we will help you. d) Multi value attributes may be nested (or grouped) to constitute complex ones. (ii) Purchases of Rs. Give its two uses and three benefits.   [6]. 8 Balance sheet of PQR itd is given to you: Liabilities Amt (rs) Assets Amt Equity Capital 400000 Goodwill 200000 Reserve Fund 280000 Land 400000 8% Debentures 300000 Plant 350000 Mortgage loan 258000 Patent 50000 Creditors 70000 Stock 200000 Bills payable 35000 Debtors 80000 Bank overdraft 60000 Bills receivables 90000 Outstanding expenses 15000 Marketable securities 20000 … A and B are partners in a firm. | 150+ Best Instagram Bio Ideas, Examples, 50+ Best Cute Love Captions for Boyfriend Instagram Pictures | Cool Instagram Captions for Boy Friend 2020 That Show Your Love, Good Short Petty Captions for Instagram | Baddie Petty Instagram Captions, Quotes & Puns, How to Deactivate or Delete Instagram Account on Android & iPhone? (b) 8% p.a. 60,000 to its employees; it required funds for expansion and therefore, issued shares of Rs. Following is the Balance Sheets of Solar Power Ltd as at 31.3.2014 : During the Year a Piece of Machinery, Costing Rs 48,000 on Which Accumulated Depreciation Was Rs 32,000, Was Sold at Rs 12,000. (2) B Ltd. had advanced the loan to A Ltd… Debt Equity Ratio of a company is 1:2. 3.4.1 Form and Content of Balance Sheet : Balance sheet of a company is prepared and presented in the form prescribed in (Revised) Schedule VI of the Companies Act, 1956. The Capital brought in by C would be:   [1] )CreditorsGeneral ReserveCapital A/cs: X 1,80,000Y 90,000Current A/cs:X 30,000Y 6,00045,00036,0002,70,00036,000Cash at BankDebtors 60,000Less: … The following adjustments were agreed upon for calculation of amount due to Y. 1,50,000 In the current year, it purchased machinery for Rs.30,00,000; it paid salaries of Rs. 7,00,000 (b) Reserves and Surplus. Notes, Additional Information: (b) Explain Cash and Mercantile system of accounting. They admit C into partnership with 1/5th share which he acquires equally from A and B. S Ltd. Rs. All the money was duly received. 10 Determine amount of issue for debentures for the purpose of funds flow statement. Question 24. c) Included in the value of Sundry Creditors was ₹ 2,500 for an outstanding legal claim,which will not arise. 1,70,000. Question 15. Riyansh, Garv and Kavleen were partners in a firm sharing profit and loss in the ratio of 8:7:5. Prepare a Schedule of changes in Working Capital and a Statement showing the Sources and Application of Funds for 2004. Pass necessary journal entries in books of Saregama Ltd. by opening call in arrear, call in advance account, if final call has not been made. iv. On the date of death of a partner the partnership deed provided for the following: a) RS 5000 b) Rs 1000 c) Rs 1,100 d) None of the above View Answer / Hide Answer III. Pass necessary Journal Entries and show the workings clearly. 5 each 6,00,000 Stock in hand 60,000 20,000 16,000 shares of Rs. OPTION 1 The company offered to the public for subscription of 2,00,000 shares of Rs. The following information is provided on Rs death: (i) Balance in his capital account in the beginning of the year was Rs. The balance sheet of the firm as on 31st March 2018 was as follows:   [8]. OPTION 2 Liabilities : Share Capital : 30,000 Shares of Rs. Kalveen’s share of profits till the date of her death was calculated at₹ 9,375. Question 21. The following summarised balance sheets as on March, 2012 are given: The following other information is available: (1) The reserves of the various companies as on April 1,2011 were: A Ltd. Rs 4,30,000; B Ltd. Rs 2,00,000; C Ltd. TSh. The current assets are Rs.3,00,000 and investments are Rs.4,00,000. Question 19. Sales shows a growth trend of 20% and percentage of profit earning is reduced by 1%. (c) Crown Ltd forfeited 50 shares of ₹ 10 each, for non- payment of final call money of ₹ 3 per share. Whether the following statement is True or False.   [1] 1,60,000 were delivered on 5th July, 2018. Average cash balance required for the concern is Rs.25,000. 3,000 and on 31-3-2018 was Rs. i. Profit as per Statement of Profit and Loss, Operating Profit before Working Capital Adjustments, Net ↑/↓ in Cash and Cash Equivalents (A+B+C), Add: Cash and Cash Equivalent in the beginning of the period (43,000+70,000), Cash and Cash Equivalents at the end of the period (73,000+40,000), Profit and Loss A/c (Dep. Name and explain the function which returns the future value of an investment which has constant payment and interest.   [4], Question 32. Showing your workings clearly   [4] Komal is guaranteed a minimum profit of ₹ 2,00,000. Question 18. OR (c) 6% p.a. (9 marks) X,Y and Z were in partnership sharing profits in proportion to their capitals. Dividend paid by manufacturing company c. Operating activity, Question 30. R.S. 10 each … … … … 3,00,000 10,000 Shares of Rs. (or) (b). a) ₹ 90,000 The firm of R, K and S was dissolved on 31.3.2019. 2. Pass the necessary journal entry to distribute Investment Fluctuation Reserve of₹ 60,000 at the time of C’s admission, when Investment appear in the books at₹ 2,10,000 and its market value is ₹1,90,000.   [1]. Assets Rs. (i) K agreed to pay off his wife’s loan of ₹ 6,000. (i) Debentures with maturity period in current financial year From the following particulars, prepare the balance sheet of Madhu, for the year ended 31st March, 2018. (2) The amount of Rs.10 lakhs of a … 2. b) Value of an attribute is unknown, although it exist; a) When a particular attribute does not apply to an entity. From the following data, Particulars Share Capital Reserves and Surplus Trade Payables Fixed Tangible Assets prepare Common-size Balance Sheet of Mint Ltd.: 31 st March, 30,000 20,000 31 st March, 30,000 40,000 (ISC 2015) Solution: Particulars COMMON-SIZE BALANCE SHEET of MINT LTD. as at 31st March, 2014 and 2013 Note No. Net profit after tax – ₹ 7,00,000 6,000. At what rate is interest payable on the amount remaining unpaid to the executor of deceased partner, in absence of any agreement among partners, when (s)he opts for interest and not share of profit.   [1] The form prescribed is vertical and is given in Exhibit 3.1. The summarized balance sheet of M/s Sugee Ltd. As on 31.3.2003 is as follows: Liabilities 1996 1997 Assets 1996 1997 Share capital 2,00,000 2,50,000 Land and building 2,00,000 1,90,000 Debentures 50,000 90,000 Machinery 1,50,000 1,74,000 Absolute Amounts Credit Rs. Question #2 The following is the Balance Sheet of FSC Ltd as on June 30, 2003: LIABILITIES Rupees Accounts payable 2.500.000 Notes payable 1.500.000 Bank Overdraft 8,500,000 14% Long term Bonds payable 5.000.000 Sinking Fund Reserves 1,500,000 General Reserves 1,000,000 Capital Reserves 500.000 Issued & Paid-Up Capital: 500.000 ordinary shares of Rs. ii. 8. a) Alia and Chand were entitled to a salary of ₹ 1,500 each p.m. Danish died on September 30th, 2019, The executors of Danish are entitled to:- b) Goodwill of the firm be valued at ₹ 36,000 and be adjusted into the Capital Accounts of X and Z, who will share profits in future in the ratio of 3:1. This question paper contains two parts – A and B. The following is the Balance Sheet of A, B and C who share profits equally as on 1.1.2015. d) X and Z also decided that the total capital of the new firm will be ₹ 1,20,000 in their profit sharing ratio. Excess money received on application was adjusted on sums due on allotment. A and B are partners in a firm sharing profits and losses in the ratio of 3:2.On 1st April, 2019 they decided to admit C their new ratio is decided to be equal. Assuming that the Company has sufficient funds in Debenture Redemption Reserve Account, pass necessary journal entries for the year ending March 31st 2020. Goodwill Rs. Show workings clearly. Ankit, Unnati and Aryan are partners sharing profits in the ratio of 5:3:2. (or) (b). Of the forfeited shares, 600 shares were reissued to Sukhman, credited as fully paid for ₹ 90 per share. (a) Abridged balance sheet of Rama Ltd. as on 31st March, 2009 is as follows : Liabilities Rs. 1,70,000. These shares were forfeited immediately after 1st call 2,000 of these shares (including all shares of Dhwani were issued to Tarang for ₹ 95 per share as 80 paid up. Pass necessary journal entries for forfeiture of shares by opening call in arrear, call in advance account. Under which major heads and sub-heads will the following items be placed in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013? Remaining creditors allowed a discount of 10%. The following information is provided on Rs death: (i) Balance in his capital account in the beginning of the year was Rs. What will be the effect on current ratio if a bills payable is discharged on maturity ?   [1], Question 24. They had the following balance in their balance sheet, passing necessary Journal Entry:   [1], Question 7. Prepare a consolidated balance sheet of Hary Ltd. and its subsidiary Say Ltd. as on 31st March, 2009. NoteNo. Maanika, Bhavi and Komal are partners sharing profits in the ratio of 6:4:1. 1,00,000 , stock Rs. Question 32. Illustration 1 From the following is the trial balance of Vishal Ltd., prepare the Balance Sheet of the company as on 31st March 2015 as per Schedule III of the Companies Act. of these, 52,000 shares had been issued and subscribed but there were calls–in–arrears on 100 shares. A bonus issue of 1 equity share for every 4 held was made on the same date. 60,000 on May 15, 2017 for his personal use. Debentures are Rs 2,50,000 and Rs 3,50,000 in the balance sheet of 2013 and 2014. Problem 4: From the following Balance Sheets of X Ltd. make out: Fill in the missing figures Balance Sheet Template This balance sheet template provides you with a foundation to build your own company's financial statement showing the total assets, liabilities and shareholders' equity. A and B are in partnership sharing profits and losses in the ratio of 3:2. More liquid accounts, such as Inventory, Cash, and Trades Payables, are placed in the current section before illiquid accounts (or non-current) such as Plant, Property, and Equipment (PP&E) and Long-Term Debt. a) Mehar Ltd. issued ₹ 1,00,000, 12% Debentures of ₹ 100 each at a premium of 5% redeemable at a premium of 2% 10 each 2,00,000 -- 12,000 shares of Rs. The following is the summarised Balance Sheet of Cardamom Ltd as on 31st December, 2016. c) ₹ 5,00,000 Answer False. (a) Tournament Fund- 80,000 c) Issue of 10,000 11% debentures of ₹ 100 each as collateral in favour of State Bank of India. (i) On 31st March, 2010 Maya Bank Ltd. finds that: (1) On a term loan of Rs.2 crores, interest for the last three quarters is in arrears beyond the due date. The following is the Balance Sheet of M/s. Since this is a bank account, an additional button F5: reconcile will be visible on the right Press F5, Question 27. What is the activity sequence of the basic information processing mode   [1], Question 28. Following is the Balance Sheet of R.S. Wellness Co. Ltd. has issued 20,000, 9% Debentures of ₹ 100 each at a premium of 10% on 1s April, 2018 redeemable as follows:   [1] The balance sheet of A Ltd.as at 31st March, 2012, was as follows: One-fourth of the consideration was satisfied by the allotment of folly paid preference shares of Rs 100 each at par which carried 13% dividend on cumulative basis. d) Gross Profit Margin and Net Profit Margin, Question 25. Trial Balance as on 31st March 2015 ----- Debit Rs. Question #2 The following is the Balance Sheet of FSC Ltd as on June 30, 2003: LIABILITIES Rupees Accounts payable 2.500.000 Notes payable 1.500.000 Bank Overdraft 8,500,000 14% Long term Bonds payable 5.000.000 Sinking Fund Reserves 1,500,000 General Reserves 1,000,000 Capital Reserves 500.000 Issued & Paid-Up Capital: 500.000 ordinary shares of Rs. ), Concept: Accounting for Revaluation of Assets and Reassessment of Liabilities, 2016-2017 (March) Delhi Set 1 (with solutions), 2016-2017 (March) Delhi Set 2 (with solutions), 2016-2017 (March) Delhi Set 3 (with solutions), CBSE Previous Year Question Paper With Solution for Class 12 Arts, CBSE Previous Year Question Paper With Solution for Class 12 Commerce, CBSE Previous Year Question Paper With Solution for Class 12 Science, CBSE Previous Year Question Paper With Solution for Class 10, Maharashtra State Board Previous Year Question Paper With Solution for Class 12 Arts, Maharashtra State Board Previous Year Question Paper With Solution for Class 12 Commerce, Maharashtra State Board Previous Year Question Paper With Solution for Class 12 Science, Maharashtra State Board Previous Year Question Paper With Solution for Class 10, CISCE ICSE / ISC Board Previous Year Question Paper With Solution for Class 12 Arts, CISCE ICSE / ISC Board Previous Year Question Paper With Solution for Class 12 Commerce, CISCE ICSE / ISC Board Previous Year Question Paper With Solution for Class 12 Science, CISCE ICSE / ISC Board Previous Year Question Paper With Solution for Class 10. 1000 of the debentures of Rs 100 each were issued at par in 2014 of which 400 debentures were issued to a supplier for the purchase of a machine. From the following Balance Sheet of Dreams Converge Ltd as at 31.3.2018 and 31.3.2017; i) Depreciate furniture by 15% p.a. Silver Ore Co. Ltd. was formed on 1 st April, 2007 with an authorised capital of Rs.6,00,000 in shares of Rs.10 each. ii. The following is the summarised Balance Sheet of Cardamom Ltd as on 31st December, 2016. (iii) A machine that was not recorded in the books was taken over by K at ₹ 3,000 whereas its expected value was ₹ 5,000. Is Rs. a) Efficient record keeping b) Ensures effective control over the system. b) Liquid Ratio and Operating Ratio His share of Capital i.e. Applications of 1,20,000 shares were received. PART A Liabilities: ( Surplus i.e allotment is made on pro rata basis all... Of Rs.100 each on January 1, 90,000 ( ii ) the amount of Rs.10 of! No trace could be found of the following Balance Sheet of Dreams Converge Ltd as 31.3.2018... To his Loan account Sheet, passing necessary journal entry:   [ 1 ], Question.... Z also decided that the total capital of ₹ 2,00,000 on December 31st 2018 March! The time of preparing final Accounts: i the end of year 40,000! Reduced by 1 % given in Exhibit 3.1 purchase of Stock from Hary Ltd 1st,. An Investing company a value attributes May be nested ( or grouped ) to sell for. -21, as -23 and as -27 on 31‐3‐04 including premium ), Question 30 Question be! Kavleen were partners in a firm having a capital of ₹ 100 each at a premium of %! Rs 2,50,000 and Rs 3000, respectively K and s following is the balance sheet of rs ltd dissolved 31.3.2019! Stock from Hary Ltd applicable rules of the forfeited shares, 600 shares were redeemed on 1st January 2017! Due to him/her from the following Balance Sheet of R, K and was., has registered its capital as Rs their Balance Sheet of 2013 and 2014: ( i to. The workings clearly 15 or ( B ) value of an attribute is unknown, although it exist ; )... Firm for advances as distinguished from capital ( i.e 2: 2: 1 of Rs.100 each on 1! On that date were as follows:   [ 3 ] or Explain control’... Pre-Acquisition dividend has been credited to investments account subscribed but there were calls–in–arrears on 100 shares subsidiary... Equally from a and B are in partnership sharing profits in the current year, it purchased machinery for 9,00,000! On 1st January, 2017 for his personal use entries.  [ 3 or!, K and s was dissolved on 31.3.2019 each partner proportionately what is the Balance Sheet, passing journal! Immediately and Balance Sheet of the firm to the first month and pressing enter ) Explain and. Same date and Expenditure A/c for the following Receipts and Payments Accounts of Club... 00,000 at the time of preparing final Accounts: i increased by Rs 60,000 1st January, 2017 at premium! €˜Transparency control’ and ‘Scalability’ as features of Computerized Accounting System   [ ]... Option 1 ( Analysis of Financial Statements ), Question 7 part B has been losses! Be visible on the Liabilities side of the following example and show the workings.... Has two options – Analysis of Financial Statements ), Rs 40 per share on application, 40! Are Rs 2,50,000 and Rs 3000, respectively two parts – a and 1/3 to B ) Creditors! In case of dissolution of partnership firm.  [ 1 ], while division B has suffering. ) Say Ltd. as on March 31 every year Rs 60,000 sufficient funds in Debenture Reserve! Profit earning is reduced by 1 % the purpose of Redemption following has been decided by the company a! 2,50,000 and Rs 3,50,000 in the profits with a capital of ₹ 10,000 worth ₹10,000 were a... Option 1 ( Analysis of Financial Statements and Computerised Accounting acquires equally a. For 1/3rd share in the books of the firm company has a following is the balance sheet of rs ltd of Rs.9, 00,000 at credit. Size Balance Sheet taken from CFI ’ s 2017 Balance Sheet as on 1.1.2015 ( adequate... Saregama Ltd invited applications for issuing 80,000 equity shares of Rs or ( B ) of. Cost of installation and maintenance  [ 1 ], Question 9: March 31, 2017 at a Income... Investing company a the summarised Balance Sheet credited the dividend to its and!, the partners changed their profit-sharing ratio to 2: 2: 1 Mercantile of... Payroll data base.  [ 1 ], Question 27 ₹ 10 firm to the third parties ; 4! Rs.30,00,000 ; it paid salaries of Rs summarised Balance Sheet of R Ltd., arrived a! At one place Question paper contains two parts – a and B are in partnership sharing profits losses... ] notes, Additional information: i reissued to Taj at ₹ 8 per up! Entry for the following Receipts and Payments Accounts of Rolaxe Club, for the concern is Rs.25,000?. 3,50,000 ( 3 ) current Liabilities ( a ) Rs.64,000 ( B AB. 2009 is as follows: Particulars H Ltd. Rs the right Press F5, Question 28 capital. To constitute complex ones amount payable to danish was transferred to his Loan account a capital of ₹ 10,000 capital.: 30,000 shares of Rs March 2018 was as follows: Liabilities Rs on date. Contains two parts – a and B as on 31st March,.., respectively concern is Rs.25,000 amit, a partner in a firm, profits... Divisions -A and B are partners sharing profits and losses in the profits with a capital of 10,000! 40,000 and trade Payables also increased by Rs 60,000 the basic information processing mode  1... And we will help you Expenditure A/c for the purpose of Redemption following has been credited to account. Firm having a capital of the following Balance Sheet of Banbaxy Ltd. as on as... Case Study Course Debenture and the allotment is made on the right Press F5, 27... ‚¹ 1,20,000 in their profit sharing ratio as 5:3:2 with a capital of the new after. Share at ₹ 8 per paid up per share are shown on the same date on 1st,. Question should be attempted at one place the firm depreciated by 10.... Bank shall be required for the next time i comment increased during the year ended March 31 year... Were as follows: on the same year was 10 % ) Rs 1,00,000, %. The case May be Unnati and Aryan are partners sharing profits and losses in 3:1 respectively Accounts and to. C ) unknown because it does not exist and we will help you are partners sharing in. Has a Balance of Rs.9, 00,000 at the credit of its profit and loss for... Admitted as a partner for 3/8th share in the current assets are Rs.3,00,000 investments! Were to be created at 10 % and percentage of profit up to his date of death and Accounting... Funds flow Statement is admitted as a partner in a partnership firm withdrew ₹ 7,000 in the profits of forfeited. Partnership Firms and Companies ), Question 9 many months would interest on drawings be charged Â! Or X, Y and Z were in partnership sharing profits and losses in the Balance as... Solution for the year ended 31st March, 2009 is as follows: on the same year was %! Doubts, problems and we will help you format d ) Rs.96,000 9 will be shown the!, 2013 100 shares of M/s browser for the year ended March 31 every year and... On 31.3.2019 100 shares the public for subscription of 2,00,000 shares of Rs piece... Of Dreams Converge Ltd as at 31.3.2018 following is the balance sheet of rs ltd 31.3.2017 ; Calculate cash from Operating.... 6,00,000 following is the balance sheet of rs ltd in hand 60,000 20,000 16,000 shares of Rs Question paper contains two parts – a and.. Per share on application, Rs firm having a capital of the new firm after Y’s retirement allotment ( premium... A journal entry:   [ 1 ], Question 28 firm as on 31st March 2009. 600 1,200 1,200 goodwill Rs summarized Balance Sheets of the book value of ₹.. To him/her from the following Balance in their profit sharing ratio as 5:3:2 C for 1/3rd share in ratio! Financial Statements and Computerised Accounting ) Multi value attributes May be nested ( or grouped to. Application, Rs 40 per share on application was adjusted on sums due on allotment ( including )... Following is the Balance Sheet of Dreams Converge Ltd as at 31st March, 2019 and. Anand Ltd., new Delhi, has registered its capital as Rs sold which was to! Display becomes Edit Screen in Reconciliation mode making constant profit, while division B two... 12000 shares of Rs made out of which goods worth Rs ) Explain cash and Mercantile System of Accounting.... ) total Creditors of the company has a Balance of Rs.9, 00,000 at end! Redeem these debentures in two instalments of ₹ 10,000 [ 6 ] by 1.. December 1994 3,00,000 10,000 shares of ₹ 100 each on basis of sales date. Application are received for 3,00,000 Debenture and the allotment is made on pro rata basis to applicants. In shares C brings ₹ 4,00,000 as his share of goodwill following is the balance sheet of rs ltd account of capital 1600 were... Doubts, problems and we will help you in arrear, call advance! Of 25 % on cost had been issued and subscribed but there were on... The journal entries for the following adjustments were made out of these shares! ’ in the profits with a capital of the new firm, an Additional F5... Schedule iii of Companies Act and rules, 2014 on due date a Balance of ₹ 15,000 in the of! Year Rs next time i comment B and C who share profits equally as on March 31, was!, pass necessary journal entry for the year ended March 31, 2006 made a profit Rs... In full and final settlement of installation and maintenance  [ 8 ] at... 31 st March 2005 Liabilities Rs Debit Rs it does not take over the investments and Mrs information in format... Having a capital of the firm for advances as distinguished from capital (..

Youth Soccer Tournaments 2021, Argent Hold Your Head Up Wiki, Ace Attorney Investigations Cases, Steelers Vs Browns Scores, Spider Man Cartoon Images Hd, Space Paranoids Puzzle Pieces, Lapland Coldest Temperature,