Accounting Ratios — Accountancy STD 12 Commerce — Question

Authorised Capital 2,50,000 equity shares of ₹ 10 each to public. All amounts have been receives in lump sum. pass necessary jounral entries in the books of the company.

Under what heads and sub-heads will the following items appear in the Balance Sheet of a company as per Revised Schedule VI Part I of the Companies Act 1956:

1. Debentures;
2. Loose tools;
3. Calls-in-advance.

From the following information, calculate Change in inventory of Stock-in-Trade:
Opening and Closing Stock-in-Trade ₹ 5,00,000 and ₹ 4,00,000 respectively.

Total Debt ₹ 60,00,000; Shareholders' Funds ₹ 10,00,000; Reserves and Surplus ₹ 2,50,000; Current Assets ₹ 25,00,000; Working Capital ₹ 5,00,000. Calculate Total Assets to Debt Ratio.
[Hint: Reserves and Surplus are already included in Shareholders' Funds.]

Explain how common size statements are prepared giving an example.

Describe the purposes for which a company can use ‘Securities Premium Account’.

Pass journal entries in the following cases:
A Co.Ltd. issued ₹ 40,000; 12% Debentures at a premium of 5% redeemable at par.

R.Ltd. offered 20,00,000, 10% Debenture of ₹ 200 each at a discount of 7% redeemable at premium of 8% after 9 years. Record necessary entries in the books of R. Ltd.

Light Lamps Ltd. issued 50,000 shares of ₹ 10 each as fully paid-up to the promoters for their services to set-up the company. It also issued 2,000 shares of ₹ 10 each credited as fully paid-up to the underwriters of shares for their services. journalise these transactions.

Give the major headings under which the following items will be shown' in a Company's Balance Sheet as per Schedule VI Part I of Companies Act, 1956:

1. Sundry Creditors.
2. Provision for Tax.
3. Preliminary Expenses
4. Loose Tools.
5. Interest accrued on investments and.
6. Goodwill.