The Balance Sheet of A Ltd. as at 31-3-2016 is as follows : $ I. Equity and Liabilities (1) Shareholders' Funds (a) Share Capital : Authorised Share Capital 1,50,000 Equity Shares of $ 10 each 15,00,000 Issued, Subscribed and Paid-up Capital 80,000 Equity Shares of $10 each, $ 7.50 each called up and paid up (b) Reserves and Surplus Ca ital Redemption Reserve Plant Revaluation Reserve Securities Premium Reserve A/c Development Rebate Reserve Investment Allowance Reserve 6,00,000 1,50,000 20,000 1,50,000 2,30,000 2,50,000
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- Following are the Balance Sheets of A Ltd. and its subsidiaries B Ltd. and C Ltd. as on 31st March, 2016: C Ltd. A Ltd. $ B Lta. $ $ I. Equity and Liabilities (1) Shareholders' Funds (a) Share Capital Shares of 100 each 12,50,000 | 10,00,000 6,00,000 (b) Reserves and Surplus : 1,80,000 1,60,000 1,00,000 20,000 72,000 51,000 Reserves Surplus Account (2) Current Liabilities Sundry Creditors 1,03,000 1,20,000 Total Equity and Liabilities 16,93,000 | 12,40,000 7,23,000 II. Assets (1) Non-current Assets Fixed Assets 2,80,000 5,50,000 3,75,000 (2) Current Assets 5,30,000 Investments at Cost Stock in Trade 10,30,000 1,20,000 2,63,000 Sundry Debtors 1,60,000 3,48,000 Total Assets 16,93,000| 12,40,000 7,23,000 (a) The break-up of investments, which were all made on 30th September, 2015, is as under: (i) A Ltd. held- 7,500 shares in B Ltd. at a cost of 8,50,000 and 1,500 shares in C Ltd. at a cost of 1,80,000. (ii) B Ltd. held- 4,000 shares in C Ltd. at a cost of 5,30,000. (b) (i) Sundry…Balance Sheet taken from the books of Agency Limited as on 31st March, 2016 was as under: $ Equity and Liabilities (1) Shareholders' Funds (a) Share Capital 10,000 6% Preference Shares of $10 each 1,00,000 20,000 Equity Shares of $10 each 2,00,000 (b) Reserves and Surplus : Reserve 10,000 Surplus Account 20,000 (2) Non-current Liabilities 6% Debentures 1,20,000 (3) Current Liabilities Sundry Creditors 50,000 Total Equity and Liabilities 5,00,000 I. Assets (1) Non-current Assets Fixed Assets 3,00,000 Intangible Asset : Goodwill 35,000 Current Assets Stock 80,000 Debtors 70,000 Bank Balance 15,000 Total Assets 5,00,000 A new company, Principal Limited, was formed to acquire the business of Agency be wound up. Principal Limited acquired the assets of Agency Limited with the exception of book debts cash, but took over no liabilities except 6% Debentures, agreeing however, to collect the debts and pay creditors as an agent of Agency Limited. The purchase consideration was to be satisfied as…Given below are the Balance Sheets of A Ltd. and P Ltd. as on 31st March. 2016. On this date A Ltd. absorbs P Ltd. A Ltd. P Ltd. I. Equity and Liabilities (1) Shareholders' Funds (a) Share Capital : 10% 1,000 Pref. Shares of $ 100 each Equity Shares of $ 10 each fully paid (b) Reserves and Surplus : Dividend Equalisation Reserve General Reserve Surplus A/c (subject to payment of dividend on equity and preference shares) 1,00,000 10,00,000 8,00,000 1,00,000 80,000 20,000 1,90,000 (2) Non-current Liabilities Debentures 1,20,000 (3) Current Liabilities Bills Payable- 20,000 Other Liabilities 1,80,000 1,80,000 Total Equity and Liabilities 14,00,000 13,90,000 п. Аssets (1) Non-eurrent Assets Fixed Assets 6,00,000 8,00,000 Investments at Cost : 2,000 Equity Shares of P Ltd. @ $ 12 each Debentures of P Ltd. (Face Value $ 40,000) 24,000 36,000 20,000 7,20,000 Other Investments (2) Current Assets 10,000 5,80,000 Bills Receivable Others Totał Assets | 14,00,000 13,90,000 The whole of the…
- Balance Sheet of BCR Ltd. as on 31st March, 2016 appears as below: 1. Equity and Liabilities (1) Shareholders' Funds (a) Share Capital : 1,50,000 Equity Shares of $10 each fully paid 15,00,000 5,000 11% Preference Shares of $100 each fully paid 5,00,000 (b) Reserves and Surplus: Surplus A/c (Dr. Balance) | (-) 16,40,000 (2) Non-current Liabilities Secured Loans : 11% Debentures 5,00,000 Bank Overdraft 6,30,000 Unsecured Loans 5,00,000 (3) Current Liabilities 5,00,000 Other Current Liabilities : Interest Accrued on Debentures 1,10,000 Interest Accrued on Unsecured Loans 1,50,000 Total Equity and Liabilities 27,50,000 II. Assets (1) Non-current Assets Fixed Assets less Depreciation Reserve 15,00,000 5,00,000 (2) Current Assets Stock and Stores 6,00,000 Receivables 14,50,000 Other Current Assets 2,00,000 Total Assets 27,50,000 A scheme of reconstruction has been agreed amongst the shareholders and the creditors with the following salient features : (a) Interest due on unsecured loans…4B. The following is the Summarized Balance Sheet of A Ltd. as at 31st March 2012. Particulars (1) Note. No (2) A Ltd (3) I. EQUITY AND LIABILITIES 1. Share holder’s Funds: a. Share Capital – (i) 8,000 Equity shares of Rs. 100 each b. Reserves and Surplus : General Reserve 8,00,000 80,000 2. Share Application Money Pending Allotment: ----- 3. Non –Current Liabilities : (i) 10 % debentures (ii) Loan from A 4,00,000 1,60,000 4. Current Liabilities: (i)Trade Payables – Trade Creditors 3,20,000 Total 17,60,000 (ii)Assets (i) Non – Current Assets: (a) Fixed Assets (i) Tangible Assets: Land and Buildings Machinery (ii) Intangible Assets – Goodwill 3,40,000 6,40,000 1,30,000 2. Current Assets: (a) Inventories (b) Trade Receivables (c) Other Current assets – Cash at Bank (d) Share issue Expenses 2,20,000 2,60,000 1,36,000 34,000 Total 17,60,000…Following was the Balance Sheet of X Ltd. as on 31 March, 2008. f Equity and Liabilities 3) Share Capital 40,000 Equity Share of 20 each 8,00,000 1,80,000 40,000 2,00,000 General Reserve Staterment of P&L 12% Debentures Current Liabilities 2,60,000 Total 14,80,000 Assets (2) Fixed Assets 10,00,000 Current Assets 4,00,000 Goodwill 80,000 14,80,000 On 31" March, 2008, Fixed Assets were valued as R 7,00,000 and the goodwill at R 1,00,000. The net profits for the past three years were; 2005-06: 1,03,200, 2006-07: 1,04,000, and 2007-08: 1,03,300. 20% of profits are transferred to reserves. The proportion is reasonable for company. Fair investment return may be taken at 10%o. Ignore taxation. Calculate the value of share as per (i) Net Assets Method, (ii) Yield Method.
- From the following particulars pertaining to Assets and Liabilities of a company calculate and interpret: a. Current Ratio; b. Liquidity Ratio; c. Proprietary Ratio; d. Debt-Equity Ratio; e.Capital Gearing Ratio. Balance Sheet as on 31st December 2020 Liabilities Amount (Rs) Assets Amount (Rs) 5,000 Equity Shares of Rs 10 each 5,00,000.00 Land & Building 5,00,000.00 8%, 2000 Preference Shares of Rs 100 each 2,00,000.00 Plant & Machinery 6,00,000.00 9 % Debentures of Rs 100 each 4,00,000.00 Sundry Debtors 2,00,000.00 Reserves & Surplus 3,00,000.00 Stock 2,40,000.00 Sundry Creditors 1,50,000.00 Cash in hand 55,000.00 Bank Overdraft 50,000.00 Prepaid Expenses 5,000.00 TOTAL 16,00,000.00 TOTAL 16,00,000.00 don't give hand written answersFollowing are the Balance Sheets of X Ltd. for the year 2014 and 2015. 2014 2015 sin '000 sin '00 L Equity and Liabilities (1) Shareholders' Funds (a) Share Capital : Equity Share Capital 8% Redeemable Preference Share Capital (b) Reserves and Surplus : General Reserve Surplus Account (2) Non-current Liabilities 200 320 150 90 40 70 15 38 Debentures 100 90 (3) Current Liabilities Creditors 55 83 Bills Payable Proposed Dividend (Treating it as non-current liability) Provision for Tax (NCL) 20 16 42 50 40 50 Total Equity and Liabilities 662 807 II. Assets (1) Non-current Assets Fixed Assets: Land & Building Plant & Machinery Intangible Asset : Goodwill 200 80 170 200 80 100 (2) Current Assets Stock Debtors B/R Cash & Bank Balances 59 250 30 18 87 150 20 25 Total Assets 662 807 Additional Information: (1) (1) (I) (IV) An interim dividend of $ 20,000 has been paid in 2015. $ 35,000 income tax was paid during the year 2015. Dividend of $ 28,000 was paid during the year 2015. During the year…The following are the balance sheet of X Ltd. And Y Ltd., as on 31 st march 2005 Liabilities Rs. Rs. Assets Rs. Rs. Share capital Equity shares of Rs.10 14 % preference shares of Rs.100 General reserve Export profit Reserve (required under Income Tax Act) Investment Allowance Reserve (statutory) P & L A/c 13% debentures of Rs.100 Trade creditors Other current liabilities 50,00,000 22,00,000 5,00,000 3,00,000 -- 7,50,000 5,00,000 4,00,000 2,00,000 30,00,000 17,00,000 -- 2,50,000 2,00,000 1,00,000 5,00,000 3,50,000 1,50,000 Land & building Plant& machinery Furniture & fittings Investments Stock Sundry debtors Cash and Bank 25,00,000 32,50,000 5,75,000 7,00,000 12,50,000 9,00,000 7,25,000 15,50,000 17,00,000 3,50,000 5,00,000 9,50,000 10,30,000 5,20,000 99,00,000 66,00,000 99,00,000 66,00,000 XY Ltd., is formed to take over X Ltd. and Y Ltd., for the following consideration. X Ltd. Issue of 4,80,000…
- QUESTION I Below are the balances available for Delima Berhad as at 31 December 2015: Statement of Financial Position of Delima Berhad as 31 December 2015 RM 170,000,000 115,000,000 150,000,000 435,000,000 Non-current assets Current assets (except cash at hank) Cash at bank Issued share capital 100,000,000 ordinary shares Retained profits Non-current liability 50,000,000 5% redeemable preference shares Current liabilities Additional information: On 1 January 2016, the directors decided on the following matters 100,000,000 3. To redeem 5% redeemable preference shares at a premium of 10% 240,000,000 55,000,000 20,000,000 435,000,000 1. To issue bonus shares of one (1) ordinary shares for every ten (10) shares held to the existing shareholders. 2. To repurchase 2,000,000 ordinary shares at RM1.50 each for cancellation. (u 4 To issue 30,000,000 ordinary shares at RM1. The application were paid and fully subscribed Required: a) Prepare journal entries to record above transactions b) Prepare…QUESTION I Below are the balances available for Delima Berhad as at 31 December 2015: Statement of Financial Position of Delima Berhad as 31 December 2015 RM 170,000,000 115,000,000 150,000,000 435,000,000 Non-current assets Current assets (except cash at hank) Cash at bank Issued share capital 100,000,000 ordinary shares Retained profits Non-current liability 50,000,000 5% redeemable preference shares Current liabilities Additional information: On 1 January 2016, the directors decided on the following matters 100,000,000 3. To redeem 5% redeemable preference shares at a premium of 10% 240,000,000 55,000,000 20,000,000 435,000,000 1. To issue bonus shares of one (1) ordinary shares for every ten (10) shares held to the existing shareholders. 2. To repurchase 2,000,000 ordinary shares at RM1.50 each for cancellation. (u 4 To issue 30,000,000 ordinary shares at RMI. The application were paid and fully subscribed Required: a) Prepare journal entries to record above transactions b) Prepare…Following was the Balance Sheet of X Limited as on 31-03-2016 1. Equity and Liabilities (1) Shareholders' Funds (a) Share Capital 4,80,000 8,000 Equity Shares of $100 each, $60 per share paid up 14% 4,000 Preference Shares of $100 each fully paid 4,00,000 (b) Reserves and Surplus: Surplus A/c (Negative Balance) (-) 2,40,000 (2) Non-current Liabilities Secured Loans : 2,30,000 (i) 14% Debentures (having a floating charge on all assets) Interest Accrued on Debentures (also having a floating charge as above) 32,200 (ii) Loan on Mortgage of Land and Building 1,50,000 (3) Current Liabilities Sundry Creditors 1,17,800 Total Equity and Liabilities 11,70,000 II. Assets (1) Non-current Assets Fixed Assets: Land 40,000 Buildings 1,60,000 Plant and Machinery 5,40,000 Intangible Asset : Patents 40,000 (2) Current Assets Stock at cost 1,00,000 Debtors 2,30,000 Cash at Bank 60,000 Total Assets 11,70,000 On 31-3-2016 the company went into voluntary liquidation. The dividend on 14% preference shares…