The amount per share was payable as follows: on application -₹1, on allotment - ₹2, on first call-₹3, on second and final call- ₹4. Pass necessary journal entries for the above transactions in the book of Jain Ltd. anju , anju and manju are partners in a firm, Create questions or review them from home. Question # 00332504 Subject Accounting Topic Accounting Tutorials: 1. This will be recorded in: Choose the right answer : 1. From the following Balance sheet of Soni Company Ltd. Note No. On 31-3-2019, their Balance Sheet was as follows: Liabilities Assets Land & Building Machinery Stock Debtors Cash Capitals: Sundry Creditors Bill Payable Outstanding Expenses (マ) 1,80,000 70,000 80,000 40,000 10,000 3,30,000 2,50,000 50,000 20,000 10,000 3,30,000 On the above date. Anurag Ltd. decided to issue 50,000 equity shares. Required desktop or laptop with internet connection, All Content and Intellectual Property is under Copyright Protection | myCBSEguide.com ©2007-2020, From the following Balance sheet of DCX Ltd and the additional information as at 31March 2018prepare a Cash Flow, 1136000 cash flow from financing activity, -106000 cash used in operating activity ,-1060000 cash used in investing activity, Subscription received during the year was ₹40000 (including ₹3000 for previous year and ₹5000 for next year). on 1-4-2017 they admitted Ashwin as new partner into partnership on the following terms, Bliss Products Ltd. registered with capital of ₹ 80,00,000 divided into 80,000 equity shares of ₹ 100 each. Showing your workings clearly Particulars Note No. 20,000. } A) interest on capital @ 6% per annum Shareholder’s Fund: 7,00,000 5,00,000 a. Santosh Limited has the following balance appearing in the Balance sheet Security premium Rs 3600,000, 90% debenture – Rs 1,20,000, Underwriting commission – Rs 10,000,00. Reserves & surplus 2 59,000 35,000 (2) Current liabilities – a. font-size: 14px; From the following Balance sheet of Exe Ltd. As at 31st March, 2019,prepare Comparitive Balance sheet: 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. 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. The following are the Balance Sheets of Harsha Ltd. as on March 31, 2006 and March 31, 2007. Federation University Australia. Example 1: Preparation of Balance Sheet – Horizontal and Vertical Style: The following trial balance is prepared after preparation of income statement for F. Green as at 31 March 2015.. Credit Rs. Showing your workings clearly [4] … 1 year, 9 months ago, Posted by Jasbir Singh 1 day, 16 hours ago, Posted by Krushit Shah 1 day, 6 hours ago, Posted by Ravikumar M Horaginmani 1 day, 19 hours ago, Posted by Muskaan Singhal 1 day, 23 hours ago, Posted by Kanishka Agar 1 day, 16 hours ago, .btn { Invited applications for issuing 112000 equity shares of₹10 each at par. Under IAS 2, what should the Balance Sheet report for Inventory? 52.Following is the balance sheet of Wisben Ltd as on 31st March, 2012 Additional Information During the year, a piece of machinery of the book value of Rs 80,000 was sold for Rs 65,000. 31.3.2018 (₹) 31.3.2017 (₹) I. The format of the date is: as at date. X and Y were partners in a firm sharing profits in the ratio of 3: 2. Course. (c) Profit and Loss Suspense Account (d) Profit and Loss Appropriation Account, Yogesh and naresh are partners sharing profits in the ratio of 3:2, Sachin and dravid are partners in a firm sharing profile and losses in the ratio of 3:2 their balance sheet is given below. 2017 Particulars Note No. The claim on account of workmen's compensation was determined at ₹ 40,000. Accounting Theory (ACGGC3040) Uploaded … .fnt { Mita and USHA are partner in a firm sharing profits in the ratio of 2: 3. 2016 and 31 Mar. font-size: 14px; The following inventory information above was taken from the records of GlobeKom Ltd.: a. from the following balance sheet of mishi ltd as on 31st march 2018 prepare cash flow statement - Accountancy - TopperLearning.com | ljbgtb77 Subscription received in advance in the beginning of the year amounted ₹2000 and subscription of ₹1000 is still outstanding for the previous year. Applications were received for ₹50,000 shares. Following is the summarised Balance Sheet of Mona Ltd. as on 31‐3‐04. } TEST YOUR UNDERSTANDING – II. From the following Balance Sheet of Dreams Converge Ltd as at 31.3.2018 and 31.3.2017; Calculate Cash from operating activities. The drawings of Mita and Usha during the year 2015-16 were rupees 32000 and rupees 24000 respectively. Question 32. Shares were fully allotted to all applicants. Their capital accounts as on 1st April 2015 show that balances of rupees 140000 and rupees 120000 respectively. Raman to whom 2600 shares were allotted failed to pay final call money and these shares were forfeited. C) Mita was entitled to a commission of rupees 8000 for the whole year . Profit as per Statement of Profit and Loss, Operating Profit before Working Capital Adjustments, Proceeds from Issue of issue of Debentures, Net Increase Decrease in Cash and Cash Equivalents, Add: Cash and Cash Equivalent in the beginning of the period (1,10,000+1,30,000+80,000), Cash and Cash Equivalents at the end of the period (1,40,000+1,60,000+1,60,000), Profit and Loss A/c (Dep. It must update the valuation so that the balance sheet represents fair value on the balance sheet date Chien Bleu, Ltd. purchased a building in 2009 for 10,000,000 and as of December 31, 2015 had recorded accumulated depreciation on the building of 3,000,000. }, No software required, no contract to sign. March 31, 2017 (Rs) March 31, 2016 (Rs) I) Equity and Liabilities 1. The following is the balance sheet of M/s. ), Concept: Preparation of Cash Flow Statement, Chapter 4: Cash Flow Statement - Exercise [Page 117], TS Grewal Class 12 Accountancy - Analysis of Financial Statements, 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. 31.3.2017 ; Calculate Cash from operating activities invited applications for issuing 112000 equity shares each. 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