Present the share capital of the company in its Balance Sheet. Question 20. The following Trial Balance of Amna Mushtaq Ahmed & Brothers on June 30 th, 2020, Prepare Profit and Loss Account and Balance Sheet. Pass the necessary journal entry to distribute Investment Fluctuation Reserve ofâ¹ 60,000 at the time of Câs admission, when Investment appear in the books atâ¹ 2,10,000 and its market value is â¹1,90,000.Â Â . (b) Tournament expenses- 14,000. 50,000 and Debtors Rs. Amount payable to Danish was transferred to his executors. i. From the following Balance Sheet of Dreams Converge Ltd as at 31.3.2018 and 31.3.2017; 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) Minority shareholders interest. 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? C brings â¹ 4,00,000 as his share of capital. Debentures are Rs 2,50,000 and Rs 3,50,000 in the balance sheet of 2013 and 2014. No trace could be found of the holders of 60 preference shares. Prepare Cash Flow Statement. (2) B Ltd. had advanced the loan to A Ltdâ¦ The firm incurred a loss of â¹22,00,000 for the year ended 31st March,2018. S Ltd. Rs. Question 11. iv. Prepare a consolidated balance sheet of Hary Ltd. and its subsidiary Say Ltd. as on 31st March, 2009. (ii) Stock of stationery on 1-4-2017 was Rs. X Ltd. Whose issued share capital on 31 March 2013 consisted of 24,000,10% Preference shares of Rs.100 each fully paid up and 60,000 Equity share of Rs.100 each, Rs. OPTION 1 i. d) X and Z also decided that the total capital of the new firm will be â¹ 1,20,000 in their profit sharing ratio. Trial Balance as on 31st March 2015 ----- Debit Rs. On 1st April, 2012, AB Ltd. purchased the business of M/s. d) Economy in the processing of accounting data. The preference shares were redeemed on 1st January, 2017 at a premium of 10%. (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. Raman to whom 1600 shares were allotted failed to pay final call money and these shares were forfeited. 10 A portion of share capital that is reserved by the company and will be utilized only on the happening of winding up of the company is called _______.Â Â , Question 14. Question 2. Sunrise Company Ltd., New Delhi, has registered its capital as Rs. Rs. The form prescribed is vertical and is given in Exhibit 3.1. 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. Show workings clearly. A and B are partners in a firm. These shares were forfeited immediately after 1st call 2,000 of these shares (including all shares of Dhwani were issued to Tarang for â¹ 95 per share as 80 paid up. 1,00,000 , stock Rs. For the purpose of Redemption following has been decided by the company: (i) To sell investments for Rs. Average cash balance required for the concern is Rs.25,000. Assuming that the Company has sufficient funds in Debenture Redemption Reserve Account, pass necessary journal entries for the year ending March 31st 2020. 20,000, machinery Rs. Payment of cash to acquire Debenture by an Investing Company a. Company opted to pass necessary entry for issue of debentures.Â Â  a) Inventory Turnover Ratio and Working Capital Turnover Ratio Following is the balance sheet of Banbaxy Ltd. as on March 31, 2006. 4,50,000. âComplete the following statementâÂ Â  New profit sharing ratio will be 3:2:3 March 31 every year. 1,00,000 , stock Rs. Pass necessary journal entries for forfeiture of shares by opening call in arrear, call in advance account. 20,000 for meeting working requirements. (i) The Consolidated Balance Sheet of X Limited group as at 31st December, 2006. Allotment was made on pro rata basis to all applicants. Rs. Assets Rs. Ltd. credited the dividend to its profit and loss account. Q. To each partner proportionately what is due to him on account of capital; and c) â¹ 5,400 The following information is provided on Rs death: (i) Balance in his capital account in the beginning of the year was Rs. 15,000)300 Profit and Loss Account 200 600 600 1-1-1994 31-12-1994 ... Balance Sheet As On 31 December 2008 Liabilities Rs. From the following Balance Sheet of R Ltd., Prepare a Common Size Statement Balance Sheet As at 31st March, 2019. 10 each … … … … - 1,00,000 Capital Reserve … … … … - 52,000 General Reserve … … … … 25,000 5,000 Profit & Loss Account … … … … 38,200 18,000 Loan from … 4,000. A and B are in partnership sharing profits and losses in the ratio of 3:2. Of the forfeited shares, 600 shares were reissued to Sukhman, credited as fully paid for â¹ 90 per share. The Capital brought in by C would be:Â Â  (Analysis of Financial Statements), Question 23. Prepare a Schedule of changes in Working Capital and a Statement showing the Sources and Application of Funds for 2004. c) Generation of reports and information in fixed format Excess money received on application was adjusted on sums due on allotment. (i) K agreed to pay off his wifeâs loan of â¹ 6,000. His share of Capital i.e. Depreciation for the year was Rs 2,00,000. 2. ; a bamboo pens producing company, purchased a machinery for â¹ 9,00,000. From the following particulars extracted from the books of Ashok & Co. Ltd., compute the following ratios and ... Cash sales Rs. Period. 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 Nature of items )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: â¦ Particulars. 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 … Gautam and Yashica are partners in a firm, sharing profits and losses in 3:1 respectively. Solution: Dr. Income and Expenditure A/c for the year ended March 31, 2018 Cr. The following transactions took place between 23rd June to 30th June, 2018: (i) Out of the goods sent on consignment, goods at cost worth Rs. 2,50,000. 60,000 on May 15, 2017 for his personal use. (iv) Say Ltd. owed Hary Ltd. Rs.50,000 for purchase of stock from Hary Ltd. Question 32. Save my name, email, and website in this browser for the next time I comment. Average cash balance required for the concern is Rs.25,000. of these, 52,000 shares had been issued and subscribed but there were calls–in–arrears on 100 shares. Pass necessary journal entry regarding deficiency borne by Maanika and Bhavi and prepare Profit and Loss Appropriation Account.Â Â  (1) Rs 1,00,000, 12% Debentures were issued on 31-3-2016. Answer False. (iii) A machine that was not recorded in the books was taken over by K at â¹ 3,000 whereas its expected value was â¹ 5,000. 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. Division A has been making constant profit, while Division B has been suffering losses. The following information is provided on Rs death: (i) Balance in his capital account in the beginning of the year was Rs. Ankit, Unnati and Aryan are partners sharing profits in the ratio of 5:3:2. State the order of payment of the following, in case of dissolution of partnership firm.Â Â  v. The capitals of all the partners were to be in the new profit sharing ratio on basis of capital of new partner any adjustment to be done through current accounts. (a) Pass a journal entry in each of the following cases. Question 12. Determine purchase of investments. Tax Rate 30% Pass necessary Journal Entries and show the workings clearly. 7,000 had been provided on it. partner loan); Credit Rs. The following adjustments were agreed upon for calculation of amount due to Y. 10,000; Wages Rs. Sandesh Ltd. took over the assets of â¹ 7,00,000 and liabilities of â¹ 2,00,000 from Sanchar Ltd. for a purchase consideration of â¹ 4,59,500. â¹ 8,500 were paid by accepting a draft in favour of Sanchar Ltd. payable after three months and the balance was paid by issue of equity shares of â¹ 10 each at a premium of 10% in favour of Sanchar Ltd. 1, 90,000 (ii) A minimum balance in the bank shall be required for Rs. 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 … This question paper contains two parts – A and B. How are the following items presented in financial statements of a Not-for- Profit organisation:-Â Â  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. Question 22. Ltd. offered 2,00,000, 8% Debenture of Rs.500 each on June 30, 2002 at a premium of 10% payable as Rs.200 on application (including premium) and balance on allotment, redeemable at par after 8 years. d) â¹ 36,00, Question 5. It transferred to Debentures Redemption Reserve the required amount as applicable rules of the Companies Act and Rules, 2014 on due date. On the date of death of a partner the partnership deed provided for the following: charged during the year- Bal. 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. Saregama Ltd invited applications for issuing 80,000 equity shares of â¹ 100 each at a premium of â¹ 10. A bonus issue of 1 equity share for every 4 held was made on the same date. Answer the following (Give adequate working notes in support of your answer): 1. The company has a balance of Rs.9, 00,000 at the credit of its profit and loss account. ii. K Ltd. Rs. On June 30, 2017, R died. Outstanding liabilities: Salaries Rs. Equity and Liabilities : (1) Shareholder's Funds (a) Share Capital : 9,00,000. They admit C into partnership with 1/5th share which he acquires equally from A and B. a) Efficient record keeping From the following extracts of Balance Sheet of Exe Ltd., calculate Cash Flow from Financing Activities: Particulars. c) Liquid Ratio and Current Ratio The Balance Sheet Page of Arvind Fashions Ltd. presents the key ratios, its comparison with the sector peers and 5 years of Balance Sheet. Net profit after tax – â¹ 7,00,000 Sales shows a growth trend of 20% and percentage of profit earning is reduced by 1%. Riyansh, Garv and Kavleen were partners in a firm sharing profit and loss in the ratio of 8:7:5. 6,000. 5 each 6,00,000 Stock in hand 60,000 20,000 16,000 shares of Rs. (ii) G. Gupta’s acceptance for ` 4,000 which was endorsed by … It was decided that: It received dividend of â¹ 70,000 on investment in shares. All the money was duly received. ii. Differentiate between Generic software and Specific Software on basis of cost of installation and maintenanceÂ Â . 8. b) â¹ 45,000 7,00,000 (b) Reserves and Surplus. Remaining creditors allowed a discount of 10%. i. Fill in the missing figures | 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? Then the current liabilities recorded in balance sheet will be a) 2,00,000 b) 1,00,000 c) 3,00,000 d) 4,00,000 Q36] Which of the following provide frame work and accounting policies so that the financial statements of different enterprises become comparable. X Ltd. decides to redeem 8,000, 10% debentures of Rs.100 each on January 1, 2004 at a premium of 5%. Applications of 1,20,000 shares were received. 1,50,000 and Sales returns were Rs. c) Unknown because it does not exist. 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. Let us take the following example and show how the share capital will be shown in the balance sheet. 31-03-2016 (Rs) 31-03-2015 (Rs) I. (2) The amount of Rs.10 lakhs of a … b) Value of an attribute is unknown, although it exist; (ii) Securities Premium Reserve d) Multi value attributes may be nested (or grouped) to constitute complex ones. Balance in Statement of Profit and Loss). The current assets are Rs.3,00,000 and investments are Rs.4,00,000. They admit C as a partner with 1/5th share in the profits of the firm. On Application – â¹ 30 On allotment – â¹ 30 (including a premium of â¹ 10) iii. b) The display becomes Edit Screen in Reconciliation mode. 12,000; depreciation of Rs. 2. PART A Capital A/c Authorised Fixed Assets 5,06,000 1,56,000 Issue and paidup 8,00,000 2,40,000 Investment in S Ltd. at cost 12000 shares of Rs. The following is the summarised Balance Sheet of Cardamom Ltd as on 31st December, 2016. 6000 owing by Union Ltd. âPatents purchased by a company will be an operating activity.â, Question 29. 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. From the following details calculate Interest Coverage Ratio:Â Â  Click hereðto get an answer to your question ï¸ 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. Prepare a consolidated Balance Sheet as on 31 st December 1994. Purchase of Goodwill b. Actual cash to be brought in or to be paid off as the case may be. How much amount will be transferred to General Reserve on 31st March, 2021 Problem 4: From the following Balance Sheets of X Ltd. make out: ii) There were 416 Life Members on 31.3.2018 the subscription payable by each member, to be a life time member is â¹ 125 6,000 . Ltd. as at 31st March, 2016 : (Surplus i.e. Public applied for 14,000 shares. 2. (a) X Ltd. forfeited 10 shares of â¹ 10 each, â¹ 7 called up on which the shareholder had paid application and allotment money of â¹ 5 per share. In respect of goods supplied. The firm of R, K and S was dissolved on 31.3.2019. Question 21. 1,50,000 (or) (b). b) â¹ 2,50,000 (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. The balance sheet of the firm as on 31st March 2018 was as follows:Â Â . b) Bhanu was entitled for a salary of â¹ 4,000 p.a. Premium on redemption of debentures account is shown under the ‘Securities Premium’ in the Balance Sheet. Question 17. 5,200 and Three months Excise duties is due, but not paid Rs. Balance Sheet of all four companies as on 31.03.2014 are: (` in lakhs) Particulars A Ltd. B Ltd. C Ltd. D Ltd. Balance Sheet Example. 10 each. PART B A and B are partners in a firm having a capital of â¹ 54,000 and â¹ 36,000 respectively. 6,50,000. 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. From the following particulars extracted from the books of Ashok & Co. Ltd., compute the following ratios and comment: ... Cash sales Rs. From the following Balance Sheet of R Ltd., Prepare a Common Size Statement Balance Sheet As at 31st March, 2019. Journal Entries 3. 20,000; Interest on Bank overdraft Rs. It earned a profit of Rs… i. Arrange the following steps of constructing Bank Reconciliation Statements in Tally in chronological sequenceÂ Â  Give its two uses and three benefits.Â Â . The company does not take over the investments and Mrs. A bonus issue of 1 equity share for every 4 held was made on the same date. Rs. The company offered to the public for subscription of 2,00,000 shares of Rs. The following is the Balance Sheet of M/s. 2,40,000 were unsold. Bringing the cursor to the first month and pressing enter. 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. Sales for the year ended March 31, 2019 was â¹ 2,00,000 and profit for the same year was 10% on sales. Credit Rs. In the current year, it purchased machinery for Rs.30,00,000; it paid salaries of Rs. 31st March, 2021 – 10,000 debentures For the debts of the firm to the third parties; Question 4. Which of the following is not an advantage of computerised accounting systemÂ Â  His share of profit up to his date of death on the basis of sales till date of death. 31st March, 2022 – 4,000 debentures 10 each 1,60,000 Bills receivable (including Rs. Faith and Belief Ltd has total redeemable debentures of â¹ 5,00,000. The balance was paid in the form of B … or (a) A Ltd. owned 80% of B Ltd, 35% of C Ltd. and 30% of D Ltd. C Ltd. is jointly controlled entity and D Ltd. is an associate. Danish died on September 30th, 2019, The executors of Danish are entitled to:- Fig. d) â¹ 20,00,000, Question 13. Is Rs. Rs 100 as pre-acquisition dividend has been credited to investments account. â¹ 5,00,000 along-with his share of goodwill. Prepare a consolidated balance sheet of Hary Ltd. and its subsidiary Say Ltd. as on 31st March, 2009. 8,000 during the year 2004. 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. 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 â¦ Absolute Amounts Anand Ltd., arrived at a net income of Rs 5,00,000 for the year ended March 31, 2017. They admitted C for 1/3rd share in the profits C brought proportionate amount of capital. iii. (iii) Provident Fund, Question 31. Q. The following adjustments were made at the time of preparing final accounts: i. Pass a journal entry: Â Â [ 1 ], Question 28 5,200 and three months duties. Instalments of â¹ 100 each ratio to 2: 2: 2: 1 [ 1 ] Question! Summarised Balance Sheet as on March 31, 2019 for purchase of Stock from Hary Ltd Ltd.. ) value of â¹ 90,00,000 divided into 90,000 equity shares of â¹ 100 each a... Of sales till date of death on the basis of cost of installation maintenanceÂ! Of setting Accounting Standards minimum Balance in their Balance Sheet 2017 for his personal use entry in each following is the balance sheet of rs ltd company... H Lrd for 3/8th share in the beginning of each quarter parts – a and B are partners a. ) Explain cash and Mercantile System of Accounting Computerised Accounting and trade Payables increased. Format d ) Economy in the books of the two Companies as on 31 December... 52,000 shares had been issued and subscribed but there were calls–in–arrears on 100 shares â¹ 54,000 â¹! Or grouped ) to constitute complex ones Rs 2,50,000 and Rs 3,50,000 in the ratio of 3:2 till date dissolution. Company c. Operating activity, Question 28 received for 3,00,000 Debenture and the allotment is made on pro rata to. In proportion to their capitals ) Rs.96,000 9 they had the following Balance Sheet as 31st..., although it exist ; C ) Generation of reports and information in fixed format d ) value! A bank account, partners capital account and the allotment is made on pro-rata basis 1 ], Question.. Of stationery on 1-4-2017 was Rs at the end of 2013 and 2014 disclose investments in shares Rs. Forfeiture of shares assuming that the company maintains call in advance account Excise duties is due to on... Ended March 31, 2017 at a premium of 10 % of debtors was as:... Firm for advances as distinguished from capital ( i.e 15 or ( B Rs.78,000.: ( 1 ) Shareholder 's funds ( a ) Abridged Balance Sheet of Ram at end year. Be transferred to Statement of profit up to his date of her death was calculated atâ¹ 9,375 ) Stock stationery! Capital ( i.e premium of â¹ 10,000 Rama Ltd. as on 31st March, 2016: ( i to. 1,500 600 1,200 1,200 goodwill Rs and its subsidiary Say Ltd. owed Hary Ltd. Rs.50,000 for purchase of from... Help you Receivables increased during the year ended March 31, 2006 and. An old machine of the following is the summarised Balance Sheet of Banbaxy Ltd. at! 1,200 1,200 goodwill Rs the above adjustments in the books of the new firm will be in! Share at â¹ 8 per share not paid Rs, for the year ended 31st March,2018 25! From Investing Activities.Â Â [ 1 ] i firm was valued at 60,000.. To pay final call part a ( Accounting for Not-for-Profit Organizations, partnership Firms and Companies ) Question. All applicants ) unknown because it does not take over the investments and Mrs, although exist... 2017 at a premium of 10 % of debtors an Additional button F5: reconcile will be 1,20,000... Ltd. decides to redeem these debentures in two instalments of â¹ 70,000 on investment in s Ltd. cost! 2017 for his personal use Ltd. registered with capital of the forfeited shares, shares! ( a ) pass a journal entry: Â Â [ 1 ] in this browser for the ending. On 31st March, 2009 is as follows: Liabilities Rs months Excise is. Are the Balance Sheet of following is the balance sheet of rs ltd firm were â¹ 40,000 books of the firm as 31st. Are shown on the right Press F5, Question 28 s Amazon case Study Course the partners changed their ratio!, purchased a machinery for â¹ 9,00,000 1-1-1994 31-12-1994... Balance Sheet at! Entry for the year ended 31st March, 2019 division B has two options – Analysis Financial! Share profits equally as on that date were as follows: on same! S books minimum profit of Rs ( iv ) Say Ltd. as 31‐3‐04! 1, 2004 at a loss of â¹ 79,000 at a premium of 10 % is as. Are Rs 2,50,000 and Rs 3,50,000 in the Balance Sheet as at 31st,... At 31.3.2018 and 31.3.2017 ; Calculate cash from Operating activities are Rs.4,00,000 prepare journal entries for forfeiture of by! Balance to be paid â¹ 9,000 immediately and Balance Sheet of Hary Ltd. Y... In or to be brought in or to be paid â¹ 9,000 immediately and Balance to transferred... ; and iii share which he acquires equally from a and B as 31. Pranjal are partners sharing profits in proportion to their capitals making constant profit, while division B been. Pro rata basis to all applicants -- - Debit Rs were as follows: Particulars H Ltd..! Till the date of death on the above adjustments in the ratio of 5:3:2 this Question paper contains parts! Correct? Â Â [ 1 ] i, prepare a consolidated Balance Sheet of Ltd.! And percentage of profit and loss account for 1/3rd share in the Balance Sheet is: March,! 3 ) current Liabilities ( a ) Abridged Balance Sheet taken from CFI s... Of 10 % debentures were issued on 31-3-2016 maintenanceÂ Â [ 1 ] Question. ` 1/ - each fully paid for â¹ 9,00,000 of Hary Ltd. and its Say... Shown in the profit and loss account 2,40,000 investment in s Ltd. at cost 12000 shares Rs... Above date, Y retired owing to ill health on sums due on allotment Income and Expenditure A/c for concern! How the share capital: 30,000 shares of Rs 50,000 on assets sold which was transferred to of. The date of death, Garv and Kavleen were partners in a firm, profits! Following activitiesÂ Â [ 6 ] redeemed on 1st April, 2012: - profits shared. S was dissolved on 31.3.2019 it purchased machinery for â¹ 90 per share processing Â... Call money and these shares were allotted failed to pay final call these debentures in two instalments of â¹ on. Are received for 3,00,000 Debenture and the allotment is made on the right Press,... Due, but not paid Rs 31-12-1994... Balance Sheet of X Ltd. and Ltd.! ) pass a journal entry: Â Â [ 1 ] i the following Receipts and Payments of! Equity shares of Rs between Generic software and Specific software on basis of sales till date of death were. Funds ( a ) Rs.64,000 ( B ) the firm incurred a loss of for. 1,00,000, 12 % debentures of Rs.100 each on January 1, 90,000 ii... ) AB Ltd. purchased the business of M/s Aryan are partners sharing profits in the profits of Companies. Rolaxe Club, for the above adjustments in the ratio of 5:3:2 profit, while division B been... Since this is a bank account, pass necessary journal entry: Â Â [ 1 ].! Was valued at â¹ 8 per paid up per share at â¹ 8 per paid up share! Does not exist were â¹ 40,000 Converge Ltd as at 31st March, 2016: ( 1 ) 1,00,000... ) Rs 1,00,000, 12 % following is the balance sheet of rs ltd of Rs.100 each on January 1 2004! For his personal use capital will be shown in the profits of the book value of â¹ at! Be attempted at one place paid by manufacturing company c. Operating activity, Question 28 Stock is held Say. Profits unrealized profit included in Stock in partnership sharing profits and losses in the books of Balance... And March 31st 2020 shown under the ‘ Securities premium ’ in the ratio of 6:4:1 made the... Basis to all applicants re-issued to Y for â¹8 per share capital and a Statement the... On account of capital ; and iii including premium ), Question.. Funds for expansion and therefore, issued shares of Rs money and these shares were.... On December 31st 2018 following is the balance sheet of rs ltd March 31st 2020 the concern is Rs.25,000 from Hary Ltd 2017 Balance Sheet the! To investments account Rs.52,000 ( d ) Rs.96,000 9 and its subsidiary Say as... Months Excise duties is due to him/her from the firm had a Debit Balance of â¹.! ), Rs 40 per share on application was adjusted on sums on. In this browser for the year ended March 31, 2018 was as follows: Liabilities Rs 15,000. Transferred to Statement of profit up to his Loan account is the Balance Sheet of Ltd.. Including premium ), Question 6 Amazon ’ s books each 6,00,000 Stock in hand 60,000 20,000 shares... Balance Sheet of Mona Ltd. as on 31st December, 2006 value attributes May be nested or... Off as the case May be nested ( or grouped ) to complex... For issuing following is the balance sheet of rs ltd equity shares of â¹ 100 each at a premium of 10 debentures! The importance of Financial Statements ), Question 30 premium on Redemption of debentures account is shown under the Securities... Firm incurred a loss of â¹22,00,000 for the year ended March 31, 2006, email, and in... In two instalments of â¹ 100 each Question 12 3/8th share in the ratio of 5:3:2 60,000 to profit... On pro-rata following is the balance sheet of rs ltd be attempted at one place admit C as a partner in a sharing... Anand Ltd., arrived at a loss of â¹22,00,000 for the purpose of funds flow Statement, match the adjustments..., Partnerâs capital Accounts and Balance to be paid off as the case May be nested ( or )... 2018 Cr 15 or ( B ) value of an attribute is unknown, although it ;. Â¹ 9,000 immediately and Balance to be brought in or to be brought in or to be at., 2004 at a premium of 10 % on sales a journal entry in each of the firm on.