TYB.

Com Sem V Financial Accounting Assignment Problems

Problem No. 01

Following is the summarized Balance Sheet of Nirma Ltd. as on 31.03.2022

You are required to prepare Balance Sheet of Nirma Ltd. As on 31st March, 2022 as per provisions of
the Companies Act. Ignore previous year figures.
(Ans : Bal. Sheet Total Rs. 44,14,500)
Problem No2
From the following information of Aayush Ltd. Prepare a Statement of Profit & Loss for the year
ended 31.3.2022

(Ans : Surplus Rs. 30,00,00)

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 TYB.Com Sem V Financial Accounting Assignment Problems
Problem No. 03

(Ans : Cap. Res. Rs. 7,47,950)

Problem No. 04
Following is the summary Balance Sheet of Ajanta Ltd. as on 31st March, 2022.
Particulars Rs. Particulars Rs.
Equity Shares of Rs. 10 each 5,00,000 Goodwill 1,00,000
10% Preference Shares of Rs. 10 each 2,50,000 Fixed Assets 5,00,000
10% Debentures 1,00,000 Investments 2,50,000
Sundry Creditors 1,00,000 Stock 2,00,000
Other Liabilities 3,50,000 Publicity Campaign Expenses 2,00,000
Preliminary Expenses 50,000
13,00,000 13,00,000
The scheme of reconstruction approved by the authority was as under:
1] Each Equity Share is to be written down from Rs. 10 to Rs. 6 fully paid up.
2] Each 10% Preference Share is to be written down from Rs. 10 to Rs. 8 fully paid up. These
Preference Shares are to be converted into 12% Preference Shares of Rs. 2 each and remaining into
Equity Shares of Rs. 6 each.
3] 10% Debenture holders agreed to waive 20% of their claims.
4] Fixed Assets are to be revalued as Rs. 7,50,000 and Stock is to be reduced by 20%.
5] Creditors are to be settled as follows:
a) For 30% - immediate payment is to be made.

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 TYB.Com Sem V Financial Accounting Assignment Problems
b) For 50% - 10% Debentures are to be issued
c) 20% - are to be cancelled.
6) All Intangible and Fictitious Assets are to be written off.
7) 5,000 Equity shares of Rs. 6 each were issued to public for cash.
You are required to :- a) Pass journal Entries b) Prepare Capital Reduction A/c c) Balance
Sheet after Reconstruction in the books of Anjali Ltd.
(Ans : Cap. Res. Rs. 50,000, Bal. Sheet Total Rs. 10,60,000)

Problem No. 05

(Ans : Max. BB No. of Shares = 10,000)

Problem No. 06

(Ans : Max. BB No. of Shares = 62,500, Off. Price Rs. 20, Bal. Sht. Total Rs. 82,50,000)
Problem No. 07
On 1st April, 2021; Mr. Dhana Balu held 500, 6% Central Government Bonds of ₹ 100 each at a cost
of ₹ 48,000. Interest is payable on 30th June and 31st December every year. He entered into
following transactions in respect of 6% Central Government Bonds during the year ending on
31 March, 2022.

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 TYB.Com Sem V Financial Accounting Assignment Problems
Purchases :
a) On 1 May, 2021 Face Value of ₹ 10,000 at ₹ 102 Cum-Interest.
b) On 1 September 2021, Face Value of ₹ 30,000 at ₹ 105 Ex-Interest.
Sales :
a) On 1 August 2021, Face Value of ₹ 15,000 at ₹ 104 Cum-Interest.
b) On 1 February 2022, Face Value of ₹ 15,000 at ₹ 102 Ex-Interest.
Show 6% Central Government Bonds Account in the books of Mr. Dhana Balu for the year ended
31 March 2022. (Investments are to be valued at weighted average cost).
(Ans : Int. Bal trsnf. to P & L A/c Rs. 3,850, Closing Cost of Invst. Rs. 60,000)
Problem No. 08
On 1st April, 2019; Mr. Mayur had 30,000 equity shares in Jai Ltd. At a book value of ₹ 4,50,000 (face
value ₹ 10 per share). On 22nd June, 2019; he purchased another 5,000 shares of the company
for ₹ 80,000.
The directors of Jai Ltd. Announced a bonus issue of equity shares in the ratio of one share for
seven shares held on 16th August 2019.
On 31st August, 2019; the company made a right issue in the ratio of three shares for 8 shares held
on payment of ₹ 15 per share. Due date for the payment was 30th september, 2019. Mr. Mayur
subscribed to 2/3rd of the right shares and sold remaining of his entitlement to vinayak for a
consideration of ₹ 2 per share.
On 31st October, 2019; received dividends from Jai Ltd. @ 20% for the year ended 31st March,
2019. Dividend for shares acquired by him on 22nd June, 2019 are to be adjusted against the cost of
purchase.
On 15th November, 2019; mayur sold 30,000 equity shares at a premium of ₹ 5 per share.
You are required to prepare investments account in the book of Mr. Mayur. Assume that the books
of accounts are closed on 31st March, 2020 and shares valued at weighted average cost.

(Ans : Pre. Acqn. Dividend Rs. 10,000; Post acqn. Dividend Rs. 60,000; Closing Cost of Invst. Rs. 2,68,000)

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