the liquidation ofthe company FS BR Foi vouch discount per sare exm i altos For ssi {) None of the above Ge ofshares by ADC lu. : Bs. 3 on application Rs.3 en altoument Feall . A holding S00 shares paid only application an ls in arrear will be: (A 3.800 ominal value ofthe share. The shares M000 shares ata price lower than the face equity shares ByFirst issue of equity shares C)reissve of Foeeited Fg ity share Forfeited 2,000 shares of 20 ach forthe nox-payment ofthe Final eal of RS per share filly paid up. Find out the amount of eapital reserve, * a) etiam) ave been ealled and ding premium is paid is forfeited, the capital account should be debited by sa) RS.10 6) Rs. 7) 7) Working Capital is the : 'A) Capital borrowed from the Banks. _B) Difference between Current Assets and Current Liabilities Terence between Current Assets and Fixed Assets, D) Cash and Bank Balance 8) Equity or Shareholders fund is equal to__. ference share capital A) Equity share capital + Pr 8) Equity share capital + Revenues and Surplus. ©) Baquity share capi 1D) None of the options are corre. ance share capital Revenues and Surplus. I) ANSWER THE FOLLOWING(4X3=12) 49) Ii-tech L1d, was registered with an authorised capital of RS *$0,00,000 divided into Equity Shares of RS” 100 cach . The company offered for public subscription all the shares . Public appfed for 45,000 shares and allotment was made to all the applicants. AU the ealls were made and were duly received except the final call of RS_20 per share on S00 st hect of the company’ showing the difTerent types of share capita Prepare the Balan in the following e: Pass journal entri Ram for non-payment of the final call of RS * 3 per share . OF these , 100 shares Pass the Journal entre 3,60, to Narender at a discount of RS * 4 per-share >3,00,000 3,00,000 ares of RS “100 share on fered wih be authorized api of RS 2,000 divided ita 00 ythe public, Amount payable as RS “30 per share on application RS 40 per Ufare qn first and final call These shaces were fully subscribed and all money was sh Lid, purchased a running business from Sanchar Li. for fs15.00,000 payable bythe issue of lly paid Equity Shares of 09 cach a ren ium of 2 fies consisted ofthe following: Book Value (() ved Value C) 3,00,000 2,30,000) “e00,a00] 5.00.00 280,000 00 Trade Payables 7.80.00 [200,000 i Pass the necessary Journal entries in the books of Sandesh Lid 15) From the following compute Current Ratio: Frade Receivable (Sundry Debtors) 3,60,000 | Bills Payable 40,000 Prepaid Fxpenses 80,000 | Sundry Creditors 2,00,000 8,00,000 100,000 | Debentures 1,00,000 | Inventories 10,00,000 | Expenses Payable Cash and Cash Equivalents Marketable See Jand and Building My {60,000 0,000 ( | VJANSWER THE FOLLOWING (3X6=18) 1 Lad, forfeited 500 Equity Shares of RS * 100 each for no payment of Gist call of RS 30 per shar RS 0 per share was not yet made, Cut ofthese 60% sires WIE reissued for RS * 39,000 hurnalise the forfeiture an reissue of shares. 1 aySta The final eal {uly paid. 0 give necessary journal entries Hoe ecors of Devena Lid relied on st Janay 2010 that Equity Shaw all of RS” 2, On Ist February, 60 oF these of RS? 10 each, RSS wares were Teissied pe000 was applied to the amount All the shareholders paid the eal! due on May 01. mber 29, 2015 and ‘as a matter of policy, does not ember 1, 2015. The company. entries to record these share capital transaction sof ns in the boo! tions for 4,00,000 of its equity shares of Rs.10 each on the following terms er share Payable On allotment Rs.3 per share Payable on first and final call Rs.2 per allotment to the applicants for 000 : ‘shares were received. It was decided : (a) to refuse allot the balance of the available shares" lot in full to applicants for 80,000 shares: (c) 10 applicants: and and (d) to utilise excess application money in part as payment of allotment applicant, whom shar y fes had been allotted on pro-rata basis, did not pay the amount due on allotment and his 400 shares were forfeited. T 1e shares were reissued @ Rs.9 per share. SI are. Show the journa 1, Wepar