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01.02.2021, adminTime allowed: 3Hours M. Since the manufacturing of tyres results in air pollution, the company had installed a plant for its effective control. Pass necessary journal entries for the redemption of debentures. Also identify the value observed by Maharana Ltd. It is assumed that the company has adequate balance in Debenture Redemption Reserve Account.
Applications for 48, shares were received. All calls were made and were duly received except the final call of Rs. All these shares were forfeited and later on re-issued at Rs. Net profit for the year ended Showing your workings clearly, pass necessary adjustment entry for the above. On 1st October, , due to illness B died.
As per the agreement :. Also identify any one value which the partners wanted to communicate to the society. Ram and Shyam were partners in a firm sharing profits in the ratio of 2 : 3 respectively. They become old and no one was there to look after their business.
Therefore, they decided to dissolve the business and donate the amount available to an NGO who are providing service for growing trees in urban areas to control pollution. On 31st January, their Balance Sheet was as follows :. Expenses on realisation Rs. Also identify any one value which the partners communicated to the society.
Final call of Rs. Out of these shares were reissued at Rs. Pass necessary journal entries for the above transactions in the books of L Ltd. R Ltd. The amount was payable as follows :. Applications were received for 9, shares and allotment was made to all the applicants.
All amounts due were received except the first and. These shares were forfeited. Out of the forfeited shares, shares were reissued at a payment of Rs. Your email address will not be published. About Vision Website Inauguration Function. Secondary Hindi Sr. Secondary Punjab Sr. Paper No. It is also a very good platform for teachers 10th Ncert Class Book 0x1 who want to share their valuable knowledge.
Last Date of Apply 31 December Leave a Reply Cancel reply Your email address will not be published. Quick Links. Download Our Educational Android Apps. Hindi Sr.
Letter Writing Write an application to the Principal complaining about the behaviour of a Teacher. Write an application to the Principal giving some suggestions for the improvement of the school. Write an application to the Class 10th Ncert Ki Book Value Principal requesting him to allow you to play a friendly match.
Write an application to the Principal explaining why you could not take the test. Vocational Edu. Partnership, Share Capital and Debentures. The partnership deed is silent on payment of salary to partners. Amita, a partner, claimed. Is she. Under what circumstance will the premium for goodwill paid by the incoming partner not.
Name the asset that is not transferred to the debit side of Realisation account, but brings. P, Q and R were partners in a firm sharing profits in the ratio of 5 : 4 : 3 respectively. State the ratio in which. At what rate interest on calls-in-advance is paid by the company according to Table A of. A business earned average profits of Rs. The normal. The total value of assets and liabilities.
Calculate the value of. The issue was fully subscribed. Interest will be paid at the. A Ltd. You are required to pass necessary journal entries for the above transactions in the books.
The new profit sharing ratio will. Determine the new profit sharing ratio of the partners. The company invited applications for the issue of 50, shares. State under which major headings the following items will be presented in the Balance. Following information is extracted from the Statement of Profit and Loss for the years.
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