From the following figures extracted out from the books of Shri Govind , you are required to prepare a trading and profit & loss account for the year ended 31st march 2012 and a balance sheet as on the date after making the necessary adjustments :
Shri govinds capital = 228800
Shri govinds drawings = 13200
plant and machinery = 99000
freehold property = 66000
purchases = 110000
returns outward = 1100
salaries = 13200
office expenses = 2750
office furniture = 5500
discount a/c ( Dr.) = 1320
sundry debtors = 29260
loan to Shri krishna @ 10% p.a. balance on 1.4.2011 = 44000
cash at bank = 29260
bill payable = 5500
stock on 1.4.2012 = 38500
wages = 35200
sundry creditors = 44000
postage and telegrams = 1540
insurance = 1760
gas and fuel = 2970
bad debts = 660
office rent = 2860
frieght = 9900
loose tools = 2200
factory lighting = 1100
provision for doubtful debts = 880
interest on loan to shri krishna = 1100
cash in hand = 2640
sales = 231440
ADJUSTMENTS :
a. stock on 31st march 2012 was valued at rs. 72600
b. a new machine was installed during the year costing Rs.15400 but it was not recorded in the books as no payment was made for it. Wages Rs.1100 paid for erection have been debited to wages account.
c. depreciation plant and machinery by 33-1/3 %
furniture by 10 %
freehold property by 5 %
d. loose tools were valued at rs.1760 on 31.3.2012
e. of the sundry debtors Rs.660 are bad and should be written off.
f. maintain a provision of 5% on the sundry debtors for doubtful debts.
g. the manager is entitled to a commission of 10% of the net pofits after charging such commision.
what is commune system of farming??
Integrate Log(1+x)/ 1+x2 dx
Upper Limit 1
Lower limit 0
a company whose accounting year is the calendar year , purchased on 1st april , 2008 , machinery costing 30000 . it purchased further machinery on 1st october , 2008 , costing 20,000 and on 1st july ,2009,costing 10,000 .
on 1st jan ,2010 , one-third of the machinery which was installed on 1st april , 2008 become obselete and was sold for 3,000 .
show how the machinery account would appear in the books of the company , it being given that machinery was depreciated by fixed instalment at 10 per p.a.(make full working ) .
In context of the above case:
(a) Name the function of management described in he above paragraph.
(b) Identify and explain the various steps involved in process the function of management as identified in part (a) by quoting lines from the paragraph.
All calls were made and were duly received except the final call of Rs 3 per share on 2,000 shares. These shares were forfeited.
(a) Present the share capital in the Balance Sheet of the company as per Schedule III of the Companies Act, 2013.
(b) Also prepare 'Note to Accounts' for the same.
Identify the concept of management highlighted in the given statement and give any four points of its importance.
reputed business school.
During his induction training, he was informed that he would be working in
production department. The
company wanted to achieve 30% increase in output in the next quarter. His
general manager, a man with
decades of experience, also said that management is a complex activity. He
expected Vineet to make production plans, identify incentive schemes for workers to make their
strengths effective and ensure
that there is no disruption due to technical glitch. Vineet realised very quickly
that his job is a series of
continuous tasks. After one month, he was informed by the general manager
that due to increase in
international demand, production targets have been raised.
He called an urgent meeting of his supervisors and senior workers. He offered
them an opportunity to
realise their potential and earn more by working overtime and in multiple shifts.
He was delighted that at
the end of the quarter, he was able to meet the targets, workers were happy and
there was no chaos.
Identify and explain any three characteristics of management referred in above case
Pass the necessary journal entries and present the share capital as per Schedule III of Companies Act, 2013.
From the following figures extracted out from the books of Shri Govind , you are required to prepare a trading and profit & loss account for the year ended 31st march 2012 and a balance sheet as on the date after making the necessary adjustments :
Shri govinds capital = 228800
Shri govinds drawings = 13200
plant and machinery = 99000
freehold property = 66000
purchases = 110000
returns outward = 1100
salaries = 13200
office expenses = 2750
office furniture = 5500
discount a/c ( Dr.) = 1320
sundry debtors = 29260
loan to Shri krishna @ 10% p.a. balance on 1.4.2011 = 44000
cash at bank = 29260
bill payable = 5500
stock on 1.4.2012 = 38500
wages = 35200
sundry creditors = 44000
postage and telegrams = 1540
insurance = 1760
gas and fuel = 2970
bad debts = 660
office rent = 2860
frieght = 9900
loose tools = 2200
factory lighting = 1100
provision for doubtful debts = 880
interest on loan to shri krishna = 1100
cash in hand = 2640
sales = 231440
ADJUSTMENTS :
a. stock on 31st march 2012 was valued at rs. 72600
b. a new machine was installed during the year costing Rs.15400 but it was not recorded in the books as no payment was made for it. Wages Rs.1100 paid for erection have been debited to wages account.
c. depreciation plant and machinery by 33-1/3 %
furniture by 10 %
freehold property by 5 %
d. loose tools were valued at rs.1760 on 31.3.2012
e. of the sundry debtors Rs.660 are bad and should be written off.
f. maintain a provision of 5% on the sundry debtors for doubtful debts.
g. the manager is entitled to a commission of 10% of the net pofits after charging such commision.
what is commune system of farming??
Q36. The Balance Sheet of Madan and Mohan who share profits and losses in the ratio of 3:2, as at 31st March, 2010 was as follows:
Workmen's Compensation Fund
General Reserve
Capital A/cs:
Madan 60,000
Mohan 40,000
12,000
20,000
1,00,000
Debtors 65,000
Less: Reserve for Doubtful Debts 5,000
Stock
Investments
Patents
60,000
30,000
50,000
10,000
They decided to admit Gopal on 1st April, 2010 for 1/4th share on the following terms :
(i) Gopal shall bring Rs.20,000 as his share of premium for goodwill.
(ii) That unaccounted accrued income of Rs.1,000 be provided for.
(iii) The market value of investments was Rs.45,000.
(iv) A debtor whose dues of Rs. 5,000 were written off as bad debts paid Rs.4,000 in full settlement.
(v) A claim of Rs.3,000 on account of workmen's compensation to be provided for.
(vi) Patents are overvalued by Rs.2,000.
(vii) Gopal to bring in capital equal to 1/4th of the total capital of the firm after all adjustments.
Prepare Revaluation Account, Capital Accounts of the partners and Balance Sheet of the new firm.
Integrate Log(1+x)/ 1+x2 dx
Upper Limit 1
Lower limit 0
a company whose accounting year is the calendar year , purchased on 1st april , 2008 , machinery costing 30000 . it purchased further machinery on 1st october , 2008 , costing 20,000 and on 1st july ,2009,costing 10,000 .
on 1st jan ,2010 , one-third of the machinery which was installed on 1st april , 2008 become obselete and was sold for 3,000 .
show how the machinery account would appear in the books of the company , it being given that machinery was depreciated by fixed instalment at 10 per p.a.(make full working ) .
(a) Identify the consumer right that has been violated by Kajal Machinery Pvt. Ltd.
(b) Suggest the appropriate forum where Anchal can file her complaint.
(c) Can she appeal to the Supreme Court if she is not satisfied with the order of the appropriate forum? Give reason in support of your answer. (3)