What will be the current ratio of a company whose Net Working Capital is Zero? (C.B.S.E. Sample Paper. 2020) Post category:Accountancy Reading time:1 mins read SOLUTION 1: 1 Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous Post‘Sale of goods Rs. 3,000 for cash will increase the Gross Profit Ratio.’ Is this statement correct? Give reason in support of your answer. (C.B.S.E. 2020. Kolkata, Lucknow) Next PostCurrent ratio of Reliance Textiles Ltd. is 1.5 at present. In future it wants to improve this ratio to 2. Suggest any two accounting transactions for improving the current ratio. You Might Also Like Premio Ltd. issued 50,000 Equity Shares of 7100 each at a premium of 750 per share, payable as follows:Rs. 100 per share on application; and Balance on Allotment. The issue was subscribed and shares were issues to the applicants. Pass the necessary Journal entries. July 13, 2022 Competent Ltd. issued a prospectus inviting applications for 50,000 Equity Shares of Rs. 10 each, payable Rs. 5 as per application (including Rs. 2 as premium), Rs. 4 as per allotment and the balance towards first and final call. Applications were received for 65,000 shares. Application money received on 5,000 shares was refunded with letter of regret and allotments were made on pro rata basis to the applicants of 60,000 shares. Money overpaid on applications including premium was adjusted on account of sums due on allotment. Mr. Sharma to whom 700 shares were allotted failed to pay the allotment money and his shares were forfeited by the Directors on his subsequently failure to pay the call money. All the forfeited shares were subsequently sold to Mr. Jain credited as fully paid-up for Rs. 9 per share. You are required to set out the Journal entries and the relevant entries in the Cash Book. July 15, 2022 XYZ Ltd. is registered with an authorised capital of Rs. 2,00,000 divided into 2,000 shares of Rs. 100 each of which, 1,000 shares were offered for public subscription at a premium of Rs. 5 per share, payable as: July 15, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Premio Ltd. issued 50,000 Equity Shares of 7100 each at a premium of 750 per share, payable as follows:Rs. 100 per share on application; and Balance on Allotment. The issue was subscribed and shares were issues to the applicants. Pass the necessary Journal entries. July 13, 2022
Competent Ltd. issued a prospectus inviting applications for 50,000 Equity Shares of Rs. 10 each, payable Rs. 5 as per application (including Rs. 2 as premium), Rs. 4 as per allotment and the balance towards first and final call. Applications were received for 65,000 shares. Application money received on 5,000 shares was refunded with letter of regret and allotments were made on pro rata basis to the applicants of 60,000 shares. Money overpaid on applications including premium was adjusted on account of sums due on allotment. Mr. Sharma to whom 700 shares were allotted failed to pay the allotment money and his shares were forfeited by the Directors on his subsequently failure to pay the call money. All the forfeited shares were subsequently sold to Mr. Jain credited as fully paid-up for Rs. 9 per share. You are required to set out the Journal entries and the relevant entries in the Cash Book. July 15, 2022
XYZ Ltd. is registered with an authorised capital of Rs. 2,00,000 divided into 2,000 shares of Rs. 100 each of which, 1,000 shares were offered for public subscription at a premium of Rs. 5 per share, payable as: July 15, 2022
