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Corporate Acc 6.2.22
Corporate Acc 6.2.22
Corporate Acc 6.2.22
1.Non-Current Investments (Face value Rs 10,00,000) appeared in the Balance Sheet at Rs 20,00,000. The Investments of the face value
of Rs 4,00,000 are sold at the market price which was 150% of the face value.Pass the necessary Journal Entries.
2. 12%, 40000 Debentures of Rs 100 each were outstanding.60% Debentures are redeemed at a premium of 10%.Pass the necessary
Journal Entries.
Redeemable Preference Shares was made and received and Preference Shares were redeemed at a premium of 10%. Pass the
necessary Journal Entries.
4. Equity Share Capital (Fully paid up shares of Rs. 10 each) Rs 2,600 lacs were outstanding. 60 lac equity shares @ 15 per share were
bought back.Pass the necessary Journal Entries.
shareholders to pay any thing. Equity Share Capital (Fully paid up shares of Rs. 10 each) Rs 2,000 lacs were outstanding. General
Reserve of Rs 700 lac, Securities Premium of Rs 10 lac, Capital Redemption Reserve of Rs 700 lac , Capital Reserve (including
50,000. The company decided to convert the partly paid equity shares into fully paid shares by way of bonus and to issue fully
paid-up Bonus Shares to the holders of fully paid up shares in the same ratio. Pass the necessary Journal Entries.
Prepare Cash Flow Statement as per AS–3 issued by ICAI.
(a) 50% of Tangible Fixed Assets are taken over at 100% more than the book value and the remaining Tangible Fixed Assets are
taken over at 20% less than the book value.
` 52,500.
(c) Inventories are taken over at book value less 10% and Trade Receivables are taken over at book value subject to an allowance of
10% to cover doubtful debts.
` 38,500 to be discharged by P
(iv) The balance in the form of equity shares of ` 10 each, ` 8 paid up at a premium of ` 7 per share. The market value of an equity
` 100.
` 10,000. Actual Expenses amounted to
` 12,000.
Show the calculation and discharge of Purchase Consideration.
9.There is Conversion of ` 5 lakh fully paid equity shares of ` 10 each into stock of ` 3,00,000 and balance as 12% fully convertible
Debentures.Pass the necessary Journal Entries.
10.There is Consolidation of ` 50 lakh fully paid equity shares of ` 2 each into 5 lakh fully paid equity share of `10 each.Pass the
necessary Journal Entries.
11.There is Sub-division of 5 lakh fully paid 10% preference shares of ` 50 each into 25 lakh fully paid 10% preference shares of ` 10
each.Pass the necessary Journal Entries.
12.There is Conversion of 10% preference shares of ` 10 lakh into ` 4,00,000,12% preference shares and remaining balance as 14%
Non cumulative preference shares.Pass the necessary Journal Entries.
the same number of equity shares of ` 5 each, ` 2.50 paid up.Pass the necessary Journal Entries.
from 6% to 15% but revalued in a manner in which the total return on them remains unaffected. Four equity shares of ` 5 each, `
2.50 paid up to be issued for each ` 100 of arrears of preference dividend. Dividend on Preference Shares are in arrears for three
years.Pass the necessary Journal Entries.
15.10% First Debentures of ` 120 lac. 10% Second Debentures of ` 200 lac. Debentures Interest outstanding `
` 80 lacs and 10% second debentures for ` 120 lacs. He is also a creditor for ` `
120 lacs of his total debt and to pay `
` ` 60
lacs of his total debt and to accept new 12% Debentures for the balance amount.Pass the necessary Journal Entries.
16.Trade Creditors ` ` `
and Y) are given the option of either to accept equity shares of ` 5, ` 2.50 paid up each, for the amount due to them or to accept
80% of the amount due in cash. 40% Creditors accepted equity shares whereas the balance accepted cash in full settlement.Pass
the necessary Journal Entries.
stood at Rs. 3,00,000 on 1.4.2020, was considered as worth of Rs. 7,00,000 on 1.7.2020 for which necessary adjustments are
stood at Rs. 3,00,000 on 1.4.2020, was considered as worth of Rs. 1,00,000 on 1.7.2020 for which necessary adjustments are yet
dividend @ 20% on equity shares for the year 2020–2021.Pass the necessary Journal Entry as to the receipt of dividend in the
24.
Required:Prepare
(a) If no other information is given.
issued 2 shares for every 5 shares held, as bonus shares but no accounting effect has yet been given.During June 2021, goods costing
` 23,500 were destroyed against which the insurer paid only `