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प्रश्न
Show the following items in the balance sheet as per the provisions of the Companies Act, 2013 in Schedule III:
| Particulars | Rs. | Particulars | Rs. |
| Preliminary Expenses | 2,40,000 | Good will | 30,000 |
| Discount on issue of shares | 20,000 | Loose tools | 12,000 |
| 10% Debentures | 2,00,000 | Motor Vehicles | 4,75,000 |
| Stock in Trade | 1,40,000 | Provision for tax | 16,000 |
| Cash at bank | 1,35,000 | ||
| Bills receivable | 1,20,000 |
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उत्तर
Extract of Balance Sheet
as at March 31, 2013
|
Particulars |
Note No. |
Amount (Rs) |
|
I. Equity and Liabilities |
|
|
|
1. Shareholders’ Funds |
|
|
|
a. Share Capital |
|
|
|
b. Reserves and Surplus |
|
|
|
2. Non-Current Liabilities |
|
|
|
1 |
2,00,000 |
|
3. Current Liabilities |
|
|
|
|
|
| b. Short-term Provisions |
2 |
16,000 |
|
II. Assets |
|
|
|
1. Non-Current Assets |
|
|
|
|
|
| i. Tangible Assets |
3 |
4,75,000 |
| ii. Intangible Assets |
4 |
30,000 |
| b. Non-Current Investments |
|
|
|
2. Current Assets |
|
|
|
5 |
1,52,000 |
| b. Trade Receivables |
6 |
1,20,000 |
| c.Cash and Cash Equivalents |
7 |
1,35,000 |
| d. Other Current Assets |
8 |
2,60,000 |
Notes to Accounts
|
Particulars |
Amount (Rs) |
||
|
1. Long Term Borrowings |
|
||
|
10% Debentures |
2,00,000 |
||
|
2. Short Term Provisions |
|
||
|
Provision for Tax |
16,000 |
||
|
3. Tangible Assets |
|
||
|
Motor Vehicles |
4,75,000 |
||
|
4. Intangible Assets |
|
||
|
Goodwill |
30,000 |
||
|
5. Inventory |
|
||
|
Loose Tools |
12,000 |
|
|
|
Stock |
1,40,000 |
1,52,000 |
|
|
|
1,52,000 |
||
|
6. Trade Receivables |
|
||
|
Bill Receivable |
1,20,000 |
||
|
7. Cash and Cash equivalents |
|
||
|
Cash at Bank |
1,35,000 |
||
|
8. Other Current Assets |
|
||
|
Preliminary Expenses |
2,40,000 |
|
|
|
Discount on Issue of Shares |
20,000 |
2,60,000 |
|
|
|
2,60,000 |
||
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|
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| Particulars | (₹) | Particulars | (₹) |
| To Interest on Capital | By Profit & loss account (After manager’s commission) | __(2)__ | |
| Richa | ______ | ||
| Anmol | ______ | ||
| To Anmol’s Salary A/c | 12,500 | ||
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| Anmol’s Capital A/c | ______ | ||
| ______ | ______ |
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Richa and Anmol are partners sharing profits in the ratio of 3 : 2 with capitals of ₹ 2,50,000 and ₹ 1,50,000 respectively. Interest on capital is agreed @6% p.a. Anmol is to be allowed an annual salary of ₹ 12,500. During the year ended 31st March 2023, the profits of the year prior to calculation of interest on capital but after charging Anmol’s salary amounted to ₹ 62,000. A provision of 5% of this profit is to be made in respect of manager’s commission.
Following is their Profit & Loss Appropriation Account:
| Particulars | (₹) | Particulars | (₹) |
| To Interest on Capital | By Profit & loss account (After manager’s commission) | ___(2)___ | |
| Richa | ______ | ||
| Anmol | ______ | ||
| To Anmol’s Salary A/c | 12,500 | ||
| To Profit transferred to: | |||
| Richa’s Capital A/C (1) | ___(1)___ | ||
| Anmol’s Capital A/c | ______ | ||
| ______ | ______ |
The amount to be reflected in blank (2) will be:
|
Rudra, Dev and Shiv were partners in a firm sharing profits in the ratio of 5 : 3 : 2. Their fixed capitals were ₹ 6,00,000, ₹ 4,00,000 and ₹ 2,00,000 respectively. Besides his capital Shiv had given a loan of ₹ 75,000 to the firm. Their partnership deed provided for the following:
During the year Rudra withdrew ₹ 50,000 at the end of each quarter; Dev withdrew ₹ 50,000 in the beginning of each half year and Shiv withdrew ₹ 70,000 at the end of each half year. The profit of the firm for the year ended 31-3-2022 before allowing interest on Shiv's loan was ₹ 7,06,750. |
How much amount of net profit will be transferred to Profit and Loss Appropriation A/c?
Richa and Anmol are partners sharing profits in the ratio of 3 : 2 with capitals of ₹ 2,50,000 and ₹ 1,50,000 respectively. Interest on capital is agreed @6% p.a. Anmol is to be allowed an annual salary of ₹ 12,500. During the year ended 31st March 2023, the profits of the year prior to calculation of interest on capital but after charging Anmol’s salary amounted to ₹ 62,000. A provision of 5% of this profit is to be made in respect of manager’s commission.
Following is their Profit & Loss Appropriation Account:
| Particulars | (₹) | Particulars | (₹) |
| To Interest on Capital | By Profit & loss account (After manager’s commission) | __(2)__ | |
| Richa | ______ | ||
| Anmol | ______ | ||
| To Anmol’s Salary a/c | 12,500 | ||
| To Profit transferred to: Richa’s Capital A/C (1) | __(1)__ | ||
| Anmol’s Capital A/c | ______ | ||
| ______ | ______ |
The amount to be reflected in blank (2) will be:
