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Required:
Trading Account
A company Ltd. issued 4,000 debentures of Rs. 100 each at par. These debentures were redeemed after 5 years at 10% premium.
Required:
Entries for issue and redemption of debentures.
A company purchased the following assets at an agreed price of Rs. 5,50,000:
Plant: Rs. 2,60,000
Building: Rs. 3,65,000
The company paid the agreed price by issuing shares of Rs. 100 each at 10% premium.
Required:
Entries for purchase of assets and issue of shares.
A company issued 5,000 shares of Rs. 100 each at a discount of 10%.
On application: Rs. 30 per share
On allotment: Rs. 40 per share
On first and final call: Rs. 20 per share
Applications were received for 7,000 shares and allotment was made as follows:
Applicants for 2,000 shares were allotted 2,000 shares
Applicants for 4,000 shares were allotted 3,000 shares
Applicants for 1,000 shares were allotted nil
It is resolved that the excess amount paid on applications is to be adjusted against the amount due on allotment.
All money was duly received except a shareholder holding 300 shares, who failed to pay the first and final call money.
Required:
Entries for Application, Allotment and First and Final Call.
If number of order is 6 times and Economic order quantity is 3,000 kg. Find out annual requirement.
Mention the meaning of fixed overhead.
Write any two limitations of financial accounting.
List any two items of fixed assets.
Prepare the adjustment entry of pre-paid rent expired of Rs. 5,000.
State any two advantages of time rate system of wages payment.
What is statutory company?
State any two types of preference share.
Write about MS-Excel.
Calculate the amount of cash from financing activities from the following information.
Particulars | 2015 (Rs.) | 2016 (Rs.) |
|---|---|---|
Share Capital | 2,00,000 | 4,00,000 |
Debentures | 1,00,000 | 50,000 |
Dividend Paid | – | 20,000 |
The two years balance sheet and other information of a company are as follows:
Particulars | Year I (Rs.) | Year II (Rs.) |
|---|---|---|
Capital | 3,80,000 | 4,95,000 |
Debentures | 1,50,000 | 90,000 |
Creditors | 30,000 | 62,500 |
Outstanding expenses | 5,000 | 7,500 |
Retained earnings | 35,000 | 35,000 |
Total | 6,00,000 | 6,90,000 |
Assets
Particulars | Year I (Rs.) | Year II (Rs.) |
|---|---|---|
Equipments | 1,50,000 | 1,35,000 |
Investments | 2,50,000 | 3,75,000 |
Stock | 75,000 | 90,000 |
Debtors | 45,000 | 70,000 |
Cash | 80,000 | 20,000 |
Total | 6,00,000 | 6,90,000 |
Additional Information:
i) Sales for the year II: Rs. 4,65,000
ii) Cost of goods sold: Rs. 2,10,000
iii) Operating expenses: Rs. 1,45,000
iv) Additional purchase of investment: Rs. 1,25,000
v) Tax paid: Rs. 35,000
vi) Equipment sold: Rs. 30,000 and purchased: Rs. 45,000
vii) Dividend paid: Rs. 45,000
Required:
Cash Flow Statement using direct method
On reconciliation of cost and financial account following facts were located:
Heads of Expenses | Financial Account (Rs.) | Cost Account (Rs.) |
|---|---|---|
Depreciation | 65,000 | 85,000 |
Closing stock | 25,000 | 20,000 |
Dividend received | 5,000 | – |
Profit as per cost account | – | 95,000 |
Required:
Reconciliation statement of cost and financial account
Write the meaning of software in accounting. Explain any three advantages of software system.
Required:
Cost Sheet of previous year
Required:
Tender price for next lot
The following information are given:
Hourly production: 4 units
Hourly wage rate: Rs. 200
Total production: 800 units
Required:
Total wages payable