A company offers 30,000 shares of Rs. 100/- to the public for the subscription at Rs. 15/- per share. Bank received full subscription. Give journal entries and the balance sheet of the company.
XYZ Ltd. was registered with an authorized capital of Rs. 2,000,000 divided into 200,000 ordinary shares of Rs. 10/- The minimum subscription stated in the memorandum was Rs. 600,000. The company offered 80,000 shares of Rs. 10/- at par value. Record the transactions in the books of a company and show how it will be shown in the balance sheet of the company if:
I. Applications for 55,000 shares were received
II. Applications for 65,000 shares were received
III. Applicants submitted exactly 60,000 shares applications and bank received a same amount.
A company offers 10,000 shares of Rs. 100/- at a discount 20% to the public for subscription. Applications were exactly received in full amount. Make journal and balance sheet of the company.
On 1st January, 2012 Z Company Ltd. Issued 4,000 shares 10% debentures of Rs. 100 each. What journal entries would be passed in each of the following cases?
I. They are issued at par
II. At 10% premium
III. At 10% discount
Ali Industries Ltd. issued 5,000 shares 10% debentures of Rs. 100/- Pass journal entries & Prepare balance sheet in each of the following cases:
I. Debentures are issued at par & redeemable at par.
II. Debentures are issued at 7% discount and redeemable at par.
III. Debentures are issued at 8% premium and redeemable at par.
IV. Debentures are issued at par and redeemable 4% premium.
V. Debentures are issued at 5% discount and redeemable at 4% premium.
Sales Rs. 150,000, Gross Profit Rs. 30,000, CGS Rs. 120,000, Opening Stock Rs. 29,000, Closing Stock Rs. 31,000, Debtors Rs. 160,000, Net Profit Rs. 14,000 & Net Fixed Assets Rs....