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प्रश्न
Net Assets minus Capital Reserve is ______.
पर्याय
Purchase consideration
Goodwill
Total assets
Liquid assets
उत्तर
Net Assets minus Capital Reserve is purchase consideration.
Explanation:
| Journal Entry | ||||
| Date | Particulars | L.F | Dr. (₹) | Cr. (₹) |
| (i) | Assets A/c ...Dr. | |||
| To Capital Reserve A/c | ||||
| To Purchase Consideration A/c | ||||
APPEARS IN
संबंधित प्रश्न
On 1st April, 2012; Vivek Ltd. Was formed with an authorized capital of Rs.1,00,00,000 divided into 2,00,000 equity shares of Rs.50 each. The company issued prospectus inviting applications for 1,80,000 shares. The issue price was payable as under:
On Application: Rs.15
On Allotment: Rs.20
On Call: Balance amount
The issue was fully subscribed and the company allotted shares to all the applicants. The company did not make the call during the year.
Show the following:
a. Share capital in the Balance Sheet of the company as per revised Schedule-VI, Part-I of the Companies Act, 1956.
b. Also prepare 'Notes to Accounts' for the same.
'Sangam Woolens Ltd.', Ludhiana, are the manufacturers and exporters of woollen garments. The company decided to distribute free of cost woollen garments to 10 villages of Lahaul and Spiti District of Himachal Pradesh. The company also decided to employ 50 young persons from this village in its newly established factory. The company issued 40,000 equity shares of Rs 10 each and 1,000 9% debentures of Rs 100 each to the vendors for the purchase of machinery of Rs 5,00,000. Pass necessary Journal Entries. Also, identify anyone value that the company wants to communicate to the society.
Following is the Balance Sheet of J.M. Ltd. as at 31.3.2016:
|
J.M. Ltd. Balance Sheet as at 31.3.2016 |
|||
|
Particulars |
NoteNo. |
31.03.2016 (Rs) |
31.03.2015 (Rs) |
|
I. Equity and Liabilities : (1) Shareholder's Funds: |
|||
|
(a) Share Capital |
2,25,000 |
1,75,000 |
|
|
(b) Reserves and Surplus |
1 |
62,500 |
25,000 |
|
(2) Non-current Liabilities: |
|||
|
Long-Term Borrowings |
2 |
1,12,500 |
87,500 |
|
(3) Current Liabilities: |
|||
|
(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 |
|
|
II. Assets: |
|||
|
(1) Non-current Assets: |
|||
|
(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 |
|
|
(2) Current Assets: |
|||
|
(a) Current Investments |
|
10,000 |
17,500 |
|
(b) Inventories |
7 |
30,500 |
18,000 |
|
(c) Cash and Cash Equivalents |
18,250 |
10,750 |
|
|
Total |
4,87,500 |
3,37,500 |
|
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 |
|
|
|
62,500 | 25,000 |
|
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|
|
|
|
(2) |
Long-term Borrowings |
|
|
|
|
12% Debentures |
1,12,500 |
87,500 |
|
|
|
1,12,500 |
87,500 |
|
|
|
|
|
|
(3) |
Short-term Borrowings |
|
|
|
|
Bank overdraft |
37,500 | 18,750 |
|
|
|
37,500 | 18,750 |
|
|
|
|
|
|
(4) |
Short-term Provisions |
|
|
|
|
Proposed Dividend |
50,000 | 31,250 |
|
|
|
50,000 | 31,250 |
|
|
|
|
|
|
(5) |
Tangible Assets |
|
|
|
|
Machinery |
4,18,750 | 2,63,750 |
|
|
Accumulated Depreciation |
(52,500) | (35,000) |
|
|
|
3,66,250 | 2,28,750 |
|
|
|
|
|
|
(6) |
Intangible Assets |
|
|
|
|
Goodwill |
25,000 | 37,500 |
|
|
|
25,000 |
37,500 |
|
|
|
|
|
|
(7) |
Inventories |
|
|
|
|
Stock in Trade |
30,500 | 18,000 |
|
|
|
30,500 | 18,000 |
|
|
|
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State whether you agree or disagree with following statement:
In case of Pro-rata allotment the excess application money received must be refunded.
Answer in one sentence only.
What is Paid-up Capital?
__________ form of business organisation in which Capital is raised through the issue of shares.
Directors issued 20000 equity shares of ₹ 100 each at par. These were fully subscribed and called up. All money were received except one shareholder holding 100 equity shares failed to pay final call of ₹ 20 per share. Calculate the amount of paid-up capital of the company
Vijay Ltd. was registered with an authorised capital of ₹ 15,00,000 divided into 1,50,000 equity shares of ₹ 10 each.
Company issued 1,00,000 equity shares of ₹ 10 each at a premium of ₹ 2 per share.
Company received applications for 80,000 equity shares and were allotted the shares.
Company received application money ₹ 3 per share, allotment money ₹ 4 per share (Including premium), and first call money ₹ 3 per share.
The Directors have not made final call of ₹ 2 per share. All money were received except one shareholder holding 500 shares did not pay first call.
Show Authorised Capital, Issued Capital, Subscribed Capital, Called-up Capital, Paid-up Capital, Calls in Arrears, and Share Premium amount in company balance sheet.
Sucheta Company Limited issued ₹ 20,00,000 new capital divided into ₹ 100 equity shares at a Premium of ₹ 20 per share payable as ₹ 10 on Application ₹ 40 on Allotment and ₹ 10 premium ₹ 50 on Final call and ₹ 10 premium.
The issue was oversubscribed to the extent of 26000 equity shares. The applicants on 2000 shares were sent letter of regret and their application money was refunded. Remaining applicants were alloted share on pro-rata basis. All the money due on Allotment and Final call was duly received.
Make necessary Journal entries in the books of Sucheta Company Ltd.
In which of the following situation Companies Act 2013 allows for issue of shares at discount?
Attire Ltd. issued a prospectus inviting applications for 12,000 shares of ₹ 10 each payable ₹ 3 on application, ₹ 5 on allotment and balance on a call. Public had applied for a certain number of shares and application money was received. Which of the following application money, if received restricts the company to proceed with the allotment of shares, as per SEBI guidelines?
Pass necessary journal entries in the books of Z Ltd. for the following transaction:
The company has a balance of ₹ 60,000 in securities premium reserve account. Loss on issue of debentures ₹ 1,00,000 was written off as per the provisions of the Companies Act. 2013.
When a company issues shares at a premium, the company can collect securities premium along with the following :
Saraswati Ltd. has an authorised capital of ₹ 10,00,000 divided into equity shares of ₹ 10 each. Subscribed and fully paid-up share capital of the company was ₹ 4,00,000. To meet its new financial requirements, the company issued 20,000 equity shares of ₹ 10 each which were payable as follows : ₹ 3 on application; ₹ 3 on allotment, ₹ 2 on first call and ₹ 2 on second and final call. The issue was fully subscribed. The allotment money was payable on 1st May 2021, first call money on 1st August 2021 and final call on 1st October 2021. X whom 1,000 shares were allotted, did not pay the allotment and call money; Y an allotee of 600 shares, did not pay the two calls; and Z whom 400 shares were allotted, did not pay the final call. Present the share capital in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013. Also prepare Notes to Accounts for the same.
Which of the following statements is true?
Vani Limited invited applications for issuing 1,00,000 equity shares of ₹ 10 each at a premium of 10%. The amounts were payable as under: On Application and Allotment - ₹ 4 per share (including premium ₹ 1)
On first call -₹ 4 per share
On second and final call - ₹ 3 per share
Applications for1,50,000 shares were received and pro-rata allotment was made to all the applicants. Excess application money was adjusted towards sums due on calls. Parth, a shareholder who had applied for 600 shares did not pay the first call. His shares were forfeited. The second and final call was not yet made. Half of the forfeited shares were reissued at ₹ 8 per share fully paid-up.
Journalise the above transactions in the books of Vani Limited by opening calls in arrears and calls in advance account wherever necessary.
Shaktimaan Ltd. invited applications for issuing 1,00,000 Shares of ₹ 10 each at a premium of ₹ 2 per share. The amount was payable as ₹ 4 on application (including premium); ₹ 5 on Allotment and balance on call. Applications were received shares for 1,80,000 of which Applications for 30,000 shares were rejected and remaining applicants were allotted on pro-rata basis. Manthan, holding 5,000 shares failed to pay call money and his shares were forfeited. Out of these 2,000 shares were re-issued at premium of ₹ 3 per share. Prepare Cash Book and pass necessary entries.
Subscription received in current year is ₹ 1,20,000. Current year's outstanding subscription is ₹ 20,000 and subscription received in advance is ₹ 10,000. Find out net subscription amount of current year
Parth Company Limited was registered with an authorised capital of ₹ 30,00,000 divided into 3,00,000 equity shares of ₹ 10 each. Company issued 2,00,000 equity shares of ₹ 10 each at a premium of ₹ 2 per share. Company received applications for 1,60,000 equity shares and were allotted the shares.
Company received application money ₹ 3 per share, allotment money ₹ 4 per share (including premium) and first call money ₹ 3 per share.
The Directors have not made final call of ₹ 2 per share. All money were received except one shareholder holding 1,000 shares did not pay the first call.
Show Authorised capital, Issued capital, Subscribed capital, Called-up capital, Paid-up capital, Calls-in-Arrears and Share Premium amount in company Balance Sheet.
