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Journalise the following transactions in the books of Apoorva.
- Prashant’s acceptance for 60 days ₹ 12,750 deposited into bank for collection.
- Apoorva sold goods to Kirti for ₹ 20,000 and received her acceptance for the same amount for 2 months. The bill was endorsed to Rekha.
- Received 30% of the amount due from the private estate of Mukta who was declared insolvent. Mukta had dishonoured her acceptance of ₹ 23,850 and noting charges paid were ₹ 150.
- Apoorva renews her acceptance of ₹ 36,000 to Anuradha by paying cheque of ₹ 6,000 and accepting a new bill for 2 months for balance along with interest @ 14.5% p. a.
Concept: Honouring and Dishonouring of Bill of Exchange
Journalise the following transactions in the books of Apoorva.
- Prashant’s acceptance for 60 days ₹ 12,750 deposited into bank for collection.
- Apoorva sold goods to Kirti for ₹ 20,000 and received her acceptance for the same amount for 2 months. The bill was endorsed to Rekha.
- Received 30% of the amount due from the private estate of Mukta who was declared insolvent. Mukta had dishonoured her acceptance of ₹ 23,850 and noting charges paid were ₹ 150.
- Apoorva renews her acceptance of ₹ 36,000 to Anuradha by paying cheque of ₹ 6,000 and accepting a new bill for 2 months for balance along with interest @ 14.5% p. a.
Concept: Honouring and Dishonouring of Bill of Exchange
Find the odd one:
Concept: Honouring and Dishonouring of Bill of Exchange
Find the odd one:
Concept: Honouring and Dishonouring of Bill of Exchange
The debentures which are convertible into shares.
Concept: Concept of Debentures
Joshi - Patil Ltd. issued 2,000, 10% debentures of Rs. 100 each, payable Rs. 20 on application and the balance on allotment. Company received applications for 2,500 debentures, out of which applications for 2,000 were alloted fully and remaining applications were rejected and the money refunded.
Journalise the above transactions, assuming that all the sums were received.
Concept: Terms of Issue of Debentures> Issue of Debentures at Par
The issue of debenture more than the face value is termed as an issue of debenture at par.
Concept: Terms of Issue of Debentures> Issue of Debentures at Par
Give the word / term or phrase which can substitute the following statement.
The debentures which are converted into shares.
Concept: Concept of Debentures
Answer the following question in one sentence.
What are ‘convertible debentures’?
Concept: Concept of Debentures
Concept: Concept of Debentures
State whether you agree or disagree with following statement:
Directors can re-issue forfeited shares.
Concept: Forfeiture of Shares
State whether you agree or disagree with following statement:
Directors can re-issue forfeited shares.
Concept: Forfeiture of Shares
Vraj Ltd. issued 40,000 equity shares of ₹ 20 each payable as follows:
On Application: ₹ 4
On Allotment: ₹ 6
On First Call: ₹ 6
On Second Call: ₹ 4
The company received applications for 50,000 equity shares. Allotment of shares was made on pro-rata basis. Share allotment and calls were made and as also received except Ravi holding 100 shares failed to pay both the calls. His shares were forfeited after second call.
Record the above transactions in the books of Vraj Ltd.
Concept: Forfeiture of Shares
Vraj Ltd. issued 40,000 equity shares of ₹ 20 each payable as follows:
On Application: ₹ 4
On Allotment: ₹ 6
On First Call: ₹ 6
On Second Call: ₹ 4
The company received applications for 50,000 equity shares. Allotment of shares was made on pro-rata basis. Share allotment and calls were made and as also received except Ravi holding 100 shares failed to pay both the calls. His shares were forfeited after second call.
Record the above transactions in the books of Vraj Ltd.
Concept: Forfeiture of Shares
The Subscribed Capital of Parag Limited is 30,000 equity shares of ₹ 100 each and 50,000 preference shares of ₹ 100 each. On both of these shares ₹ 80 per share were called-up.
The Directors forfeited 500 equity shares held by Ashish who failed to pay First and Second Call each of ₹ 20 per share. They also forfeited 500 preference shares of Ashok who failed to pay ₹ 20 per share on Allotment, ₹ 20 per share on First call and ₹ 20 per share on Second call.
The Director re-issued these forfeited shares of Ashish at ₹ 60 per share, ₹ 80 paid up and those of Ashok at ₹ 72 per share ₹ 80 paid up. All re-issued shares were taken up by Anagha.
Pass Journal entries to record the forfeiture and re-issue of shares in the books of Parag Ltd.
Concept: Forfeiture of Shares
The Subscribed Capital of Parag Limited is 30,000 equity shares of ₹ 100 each and 50,000 preference shares of ₹ 100 each. On both of these shares ₹ 80 per share were called-up.
The Directors forfeited 500 equity shares held by Ashish who failed to pay First and Second Call each of ₹ 20 per share. They also forfeited 500 preference shares of Ashok who failed to pay ₹ 20 per share on Allotment, ₹ 20 per share on First call and ₹ 20 per share on Second call.
The Director re-issued these forfeited shares of Ashish at ₹ 60 per share, ₹ 80 paid up and those of Ashok at ₹ 72 per share ₹ 80 paid up. All re-issued shares were taken up by Anagha.
Pass Journal entries to record the forfeiture and re-issue of shares in the books of Parag Ltd.
Concept: Forfeiture of Shares
Balance sheet is a nominal account.
Concept: Concept of Financial Statement Analysis
State the objectives of financial statements from the view point of a business concern.
Concept: Concept of Financial Statement Analysis
What do you mean by Analysis of Financial Statement?
Concept: Concept of Financial Statement Analysis
State and explain any 'four objectives' of financial statement analysis from the business point of view.
Concept: Concept of Financial Statement Analysis
