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305999570-Accounts 4 PDF
305999570-Accounts 4 PDF
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On 1st April, 2015, the company has made a final call @ ` 2.50 each on 1,80,000 equity
shares. The call money was received by 30th April, 2015. Thereafter the company
decided to capitalize its reserves by issuing bonus shares at the rate of one share for
every three shares held. Capital reserve includes ` 60,000 being profit on revaluation of
plant and machinery.
Show necessary Journal Entries in the books of the company and prepare the extract of
the Balance Sheet after bonus issue. Necessary assumption, if any, should form part of
your answer.
Internal Reconstruction of a Company
5.
The summarised Balance Sheet of M/s. Hema Ltd. as on 31-03-2015 is given below:
Particulars
1.
2.
3.
10,00,000
4,00,000
Arrear interest
Current liabilities
Trade payables
Directors loan
14,00,000
4,00,000
24,000
4,24,000
1,01,000
3,00,000
4,01,000
22,25,000
Assets
1. Non- current Assets
Fixed assets: Tangible assets
Freehold property
Plant and machinery
Trade investment (at cost)
2. Current assets
Trade receivables
3.
Inventories
Other assets
Profit and loss account
5,50,000
2,00,000
2,00,000
9,50,000
4,50,000
3,00,000
7,50,000
5,25,000
22,25,000