The Balance Sheet of A Ltd. as at 31-3-2016 is as follows : $ I. Equity and Liabilities (1) Shareholders' Funds (a) Share Capital : Authorised Share Capital 1,50,000 Equity Shares of $ 10 each 15,00,000 Issued, Subscribed and Paid-up Capital 80,000 Equity Shares of $10 each, $ 7.50 each called up and paid up (b) Reserves and Surplus Ca ital Redemption Reserve Plant Revaluation Reserve Securities Premium Reserve A/c Development Rebate Reserve Investment Allowance Reserve 6,00,000 1,50,000 20,000 1,50,000 2,30,000 2,50,000
The Balance Sheet of A Ltd. as at 31-3-2016 is as follows : $ I. Equity and Liabilities (1) Shareholders' Funds (a) Share Capital : Authorised Share Capital 1,50,000 Equity Shares of $ 10 each 15,00,000 Issued, Subscribed and Paid-up Capital 80,000 Equity Shares of $10 each, $ 7.50 each called up and paid up (b) Reserves and Surplus Ca ital Redemption Reserve Plant Revaluation Reserve Securities Premium Reserve A/c Development Rebate Reserve Investment Allowance Reserve 6,00,000 1,50,000 20,000 1,50,000 2,30,000 2,50,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The Balance Sheet of A Ltd. as at 31-3-2016 is as follows :
$
I. Equity and Liabilities
(1) Shareholders' Funds
(a) Share Capital :
Authorised Share Capital
1,50,000 Equity Shares of$ 10 each
15,00,000
Issued, Subscribed and Paid-up Capital
80,000 Equity Shares of $10 each, $ 7.50 each called up
and paid up
(b) Reserves and Surplus
Ca ital Redemption Reserve
Plant Revaluation Reserve
Securities Premium Reserve A/c
Development Rebate Reserve
Investment Allowance Reserve
General Re-erve
6,00,000
1,50,000
20,000
1,50,000
2,30,000
2,50,000
3,00,000
Total
17,00,000
II. Assets
Sundry Assets
17,00,000
Total
17,00,000
The Company wanted to issue bonus shares to its shareholders at the rate of one share for every two
shares held. Necessary resolutions were passed; requisite legal requirements were complied with:
(a) You are required to give effect to the proposal by passing Journal Entries in the books of A Ltd.
(b) Show the amended Balance Sheet.
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