Advertisements
Advertisements
प्रश्न
Ganesh Ltd. is registered with an authorised capital of Rs 10, 00, 00,000 divided into equity shares of Rs 10 each. Subscribed and fully paid up capital of the company was Rs 6,00,00, 000. For providing employment to the local youth for the development of the tribal areas of Arunachal Pradesh the company decided to Set up hydropower plants there. The company also decided to Open skill development centres in Itanagar, pasighat and Tawang. To meet its new financial requirements, the company decided to issue 1,00,000 equity shares of Rs 10 each and 1,00,000, 9% debentures of Rs 100 each. The debentures were redeemable after five years at par. The issue of shares and debentures was fully subscribed. A shareholder holding 2,000 shares failed to pay the final call of Rs 2 per share.
Show the share capital in the Balance Sheet of the company as per the provisions of Schedule III of the Companies Act, 2013; also identify any two values that the company wishes to propagate
उत्तर
| Balance Sheet | ||
| Particulars | Note No. |
Rs |
|
I. Equity and Liabilities 1. Shareholder’s Funds a. Share Capital b. Reserve and Surplus 2. Non-Current Liabilities Long-Term Borrowings |
1
2 |
6,09,96,000
1,00,00,000 |
| Total |
|
|
Notes to Accounts:
| Note No | Particulars | Rs |
|
1
2
|
Share Capital Authorised Share Capital 1,00,00,000 Equity Shares of Rs 10 each Issued, Subscribed, Called-up and Paid-up Share Capital 61,00,000 Equity Shares of Rs 10 each fully called up 6,10,00,000 Less: Calls in Arrears (2,000× Rs 2) (4,000)_____ Non Current Liabilities Long Term Borrowings |
10,00,00,000
6,09,96,000
1,00,00,000 |
Values Involved:
1. Balanced Regional Growth
2. Providing Employment Opportunities
APPEARS IN
संबंधित प्रश्न
'Samta Limited' invited applications for issuing 6,750 equity shares of Rs 10 each. The amount was payable as follows :
On application - Rs 3 per share
On allotment - Rs 5 per share
On first and final call - Rs 2 per share
The issue was fully subscribed. Subhash applied for 250 shares and paid his entire share money with application. Moti applied for 175 shares and paid allotment money also with an application. The amount received with applications was:
(a) Rs 16,750
(b) Rs 16,000
(c) Rs 19,250
(d) Rs 22,875
D Ltd. invited applications for issuing 10,00,000 equity shares of Rs 10 each. The public applied for 8,55,000 shares. Can the company proceed for the allotment of shares? Give reason in support of your answer
Pass necessary journal entries for the following transactions in the books of Gopal Ltd:
Purchased furniture for Rs 2,50,000 from M/s Furniture Mart. The payment to M/s Furniture Mart was made by issuing equity shares of Rs 10 each at a premium of 25%.
Khandelwal Co. Ltd. made an issue of 40,000 equity shares of Rs. 20 each, payable as follows:
Application: Rs. 5 per share
Allotment: Rs. 10 per share.
First Call: Rs. 3 per share.
Second and Final Call: Rs. 2 per share.
The company received applications for 45,000 shares of which applications for 5,000 shares were rejected and the money refunded. All the shareholders paid up to the second call except Sachin, the allottee of 2,000 shares, failed to pay the final call.
Pass Journal Entries for the above transactions in the books of Khandelwal Co. Ltd.
VXN Ltd. invited applications for issuing 50,000 equity shares of Rs 10 each at a premium of Rs 8 per share. The amount was payable as follows:
On Allotment Rs 6 per share (including Rs 3 premium).
On First Call Rs 5 per share (including Rs 1 premium).
On Second and Final Call – Balance Amount.
The issue was fully subscribed. Gopal, a shareholder holding 200 shares, did not pay the allotment money and Madhav, a holder of 400 shares, paid his entire share money along with the allotment money. Gopal's shares were immediately forfeited after allotment. Afterwards, the first call was made. Krishna, a holder of 100 shares, failed to pay the first call money and Girdhar, a holder of 300 shares, paid the second call money also along with the first call. Krishna's shares were forfeited immediately after the first call. Second and final call was made afterwards and was duly received. All the forfeited shares were reissued at Rs 9 per share fully paid up.
Pass necessary Journal Entries for the above transactions in the books of the company.
HCF Ltd. invited applications for issuing 75,000 equity shares of Rs 10 each at a discount of 10%. The amount was payable as follows:
On application and allotment – 4 per share
On first and final call – the balance amount.
Applications for 2,00,000 share were received. Applications for 50,000 shares were rejected and money refunded. Shares were allotted on pro-rata basis to the remaining applicants. The first and final call was made and was duly received except on 1,500 share applied by Raja. His share were forfeited. The forfeited shares were re-issued at maximum discount permissible under law.
Pass necessary journal entries for the above transactions in the books of the company.
Y Ltd. purchased furniture costing Rs 1,35,000 from AB Ltd. The payment was made by issue of Equity Shares of Rs 10 each at a discount of Re 1 per share. Pass necessary Journal entries in the books of Y Ltd.
Given Journal entries to record the following transaction of forfeiture and re-issue of shares and open share forfeited account in the books of the respective companies.
(i) C Ltd. forfeited 1,000 shares of Rs 100 each issued at a discount of 8%. On these shares the first call of Rs 30 per share was not received and the final call of Rs 20 per share was yet to be called. These shares were subsequently re-issued at Rs 70 per share Rs 80 paid up.
(ii) L Ltd. forfeited 470 equity share of Rs 10 each issued at a premium of Rs 5 per share for non-payment of allotment money of Rs 8 per share (including share premium Rs 5 per share) and the first and final call of Rs 5 per share. Out of these 60 Equity share were subsequently re-issued at Rs 14 per share.
On the basis of the following information, calculate:
(i) Debt-Equity Ratio and
(ii) Working Capital Turnover Ratio
Information
|
Particulars |
Amount Rs |
|
Net Sales |
60,00,000 |
|
Cost of goods sold |
45,00,000 |
|
Other current assets |
11,00,000 |
|
Current liabilities |
4,00,000 |
|
Paid up share capital |
6,00,000 |
|
6% Debentures |
3,00,000 |
|
9% Loan |
1,00,000 |
|
Debentures Redemption Reserve |
2,00,000 |
|
Closing Stock |
1,00,000 |
Goodluck Ltd. purchased machinery costing Rs 10,00,000 from Fair Deals Ltd. The company paid the price by issue of Equity shares of Rs 10 each at a premium of 25%. Pass necessary journal entries for the above transaction in the books of Goodluck Ltd.
Ashish Ltd. Invited applications for issuing 75,000 Equity Shares of Rs 10 each at a discount of 10%. The amount was payable as follows:
On Application Rs 2 per share.
On Allotment Rs 2 per share
On First and Final Call − Balance
Applications for 1,50,000 shares were received. Applications for 25,000 shares were rejected and the application money of these applicants was refunded. Shares were allotted on pro-rata basis to the remaining applicants. Excess money received with applications was adjusted towards sums due on allotment. Suman who had applied for 1250 shares failed to pay allotment and first and final call money. Dev did not pay the first and final call on his 100 shares. All these share were forfeited and later on 1000 of these share were re-issued at Rs 17 per shares fully paid up. The re-issued shares included all the shares of Suman.
Pass necessary Journal Entries for the above transactions in the books of Ashish Ltd.
State, whether the following statements is True or False.
The liability of a shareholder of public limited company is limited.
What is ‘Equity Share’?
Which of the following is not a purpose for which the Securities Premium amount can be used ?
Reserve share capital means ______.
Based on the below information you are required to answer the following question:
| The directors of Bhagat and Company Ltd. issued 50,000 equity shares of ₹ 10 each at ₹ 12 per share, payable as ₹ 5 on application including the premium, ₹ 4 on allotment and the balance on final call. Applications were received for 70,000 shares out of which applications for 8,000 shares were rejected and their money was refunded. Money overpaid on application was applied towards sums due on allotment. All the money were duly received except from one shareholder holding 500 shares who failed to pay the final call money. |
What is the amount to be received on the Allotment of shares?
