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प्रश्न
Anand Company Limited issued 1,00,000 Preference shares of ? 10 each payable as - On
On Application ₹ 4
On Allotment ₹ 3
On First call ₹ 2
On Second and Final call ₹ 1
Company received application for all these share and received all money.
Pass Journal Entries in the books of Anand Company Ltd.
उत्तर
| Journal Entries in the books of Anand Company Limited | ||||
| Date | Particulars | L.F | Debit Amount (₹) | Credit Amount (₹) |
| 1 | Bank A/c ...Dr. | 4,00,000 | ||
| To Preference Share Application A/c | 4,00,000 | |||
| (Being application money on 1,00,000 preference shares @ ₹ 4 per share received) | ||||
| 2 | Preference Share Application A/c ...Dr. | 4,00,000 | ||
| To Preference Share Capital A/c | 4,00,000 | |||
| (Being application money received on 1,00,000 preference share @ ₹ 4 per share transferred to Preference Share Capital Account) | ||||
| 3 | Preference Share Allotment A/c ...Dr. | 3,00,000 | ||
| To Preference Share Capital A/c | 3,00,000 | |||
| (Being allotment money on 1,00,000 preference shares @ ₹ 3 per share due) | ||||
| 4 | Bank A/c ...Dr. | 3,00,000 | ||
| To Preference Share Allotment A/c | 3,00,000 | |||
| (Being allotment money on 1,00,000 preference share @ ₹ 3 per share received) | ||||
| 5 | Preference Share First Call A/c ...Dr. | 2,00,000 | ||
| To Preference Share Capital A/c | 2,00,000 | |||
| (Being first call money on 1,00,000 preference shares @ ₹ 2 per share due) | ||||
| 6 | Bank A/c ...Dr. | 2,00,000 | ||
| To Preference Share First Call A/c | 2,00,000 | |||
| (Being first call money on 1,00,000 preference share @ ₹ 2 per share received) | ||||
| 7 | Preference Share Second & Final Call A/c ...Dr. | 1,00,000 | ||
| To Preference Share Capital A/c | 1,00,000 | |||
| (Being second & final call money on 1,00,000 Preference Shares @ ₹ 1 per share due) | ||||
| 8 | Bank A/c ...Dr. | 1,00,000 | ||
| To Preference Share Second & Final Call A/c | 1,00,000 | |||
| (Being Second and final call money on 1,00,000 Preference Shares @ ₹ 1 per share received) | ||||
| 20,00,000 | 20,00,000 | |||
APPEARS IN
संबंधित प्रश्न
'Telecom Limited' is registered with an authorized capital of Rs 8,00,00,000 divided into 80,00,000 equity shares of Rs 10 each. The company issued 1,00,000 shares at a premium of Rs 2 per share. The amount was payable as follows :
On application - Rs 3 per share
On allotment - Rs 5 per share (including premium)
On first and final call - The balance
All calls were made and were duly received except the first and final call on 1,000 shares held by Asha. Present the 'Share Capital' in the Balance Sheet of the company as per Schedule VI Part I of the Companies Act, 1956
'Payment and Receipt of interest and dividend' is classified as which type of activity while preparing cash flow statement?
State the two situations in which interest on partner's capital is generally provided.
Suman and Sudha were partners in a firm sharing profits equally. Their fixed capitals were Rs 50,000 and Rs 25,000 respectively. The partnership deed provided interest on capital at the rate of 12% per annum. For the year ended 31stMarch, 2016, the profits of the firm were distributed without providing interest on capital.
Pass necessary adjustment entry to rectify the error.
List the categories of individuals other than the minors who cannot become the members of a partnership firm
C India Ltd. purchased machinery from B India Ltd. Payment to B India Ltd. was made as follows:
(i) By issuing 10,000 equity shares of Rs 10 each at a premium of 20%.
(ii) By issuing 1000, 9% debentures of Rs 100 each at a discount of 5%.
(iii) Balance by giving a bank draft of Rs 37,000.
Pass necessary journal entries in the books of C India Ltd. for the purchase of machinery and payment to B India Ltd.
Following is the Balance Sheet of J.M. Ltd. as at 31.3.2016:
|
J.M. Ltd. Balance Sheet as at 31.3.2016 |
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|
Particulars |
NoteNo. |
31.03.2016 (Rs) |
31.03.2015 (Rs) |
|
I. Equity and Liabilities : (1) Shareholder's Funds: |
|||
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(a) Share Capital |
2,25,000 |
1,75,000 |
|
|
(b) Reserves and Surplus |
1 |
62,500 |
25,000 |
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(2) Non-current Liabilities: |
|||
|
Long-Term Borrowings |
2 |
1,12,500 |
87,500 |
|
(3) Current Liabilities: |
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(a) Short-term Borrowings |
3 |
37,500 |
18,750 |
|
(b) Short-term Provisions |
4 |
50,000 |
31,250 |
|
Total |
4,87,500 |
3,37,500 |
|
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II. Assets: |
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(1) Non-current Assets: |
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(a) Fixed Assets: |
|||
|
(i) Tangible |
5 |
3,66,250 |
2,28,750 |
|
(ii) Intangible |
6 |
25,000 |
37,500 |
|
(b) Non-current Investments |
37,500 |
25,000 |
|
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(2) Current Assets: |
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(a) Current Investments |
|
10,000 |
17,500 |
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(b) Inventories |
7 |
30,500 |
18,000 |
|
(c) Cash and Cash Equivalents |
18,250 |
10,750 |
|
|
Total |
4,87,500 |
3,37,500 |
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Notes to Accounts :
|
Note No. |
Particulars |
31.03.2016 (Rs) |
31.03.2015 (Rs) |
|
(1) |
Reserves and Surplus |
|
|
|
|
(Surplus i.e. Balance in the Statement of Profit and Loss) |
62,500 | 25,000 |
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|
62,500 | 25,000 |
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(2) |
Long-term Borrowings |
|
|
|
|
12% Debentures |
1,12,500 |
87,500 |
|
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|
1,12,500 |
87,500 |
|
|
|
|
|
|
(3) |
Short-term Borrowings |
|
|
|
|
Bank overdraft |
37,500 | 18,750 |
|
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37,500 | 18,750 |
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(4) |
Short-term Provisions |
|
|
|
|
Proposed Dividend |
50,000 | 31,250 |
|
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|
50,000 | 31,250 |
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(5) |
Tangible Assets |
|
|
|
|
Machinery |
4,18,750 | 2,63,750 |
|
|
Accumulated Depreciation |
(52,500) | (35,000) |
|
|
|
3,66,250 | 2,28,750 |
|
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|
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(6) |
Intangible Assets |
|
|
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Goodwill |
25,000 | 37,500 |
|
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|
25,000 |
37,500 |
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|
|
|
|
(7) |
Inventories |
|
|
|
|
Stock in Trade |
30,500 | 18,000 |
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30,500 | 18,000 |
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