Page 127 - MA12

Model Test Papers M.33

Ratnakar Ltd.
BALANCE SHEET as at ...
Particulars Note No. `
I. EQUITY AND LIABILITIES
Shareholders’ Funds
(a) Share Capital 1 49,92,000
(b) Reserves and Surplus 2 64,000
Total 50,56,000
II. ASSETS
Current Assets
Cash and Cash Equivalents 3 50,56,000
Total 50,56,000

Note to Accounts
Particulars ` `
1. Share Capital
Authorised Capital
... Equity Shares of ` 100 each ...
Issued Capital
50,000 Equity Shares of ` 100 each 50,00,000
Subscribed Capital
Subscribed and fully paid-up
49,800 Equity Shares of ` 100 each 49,80,000
Add: Forfeited Shares A/c [` 60,000 – ` 48,000 (Capital Reserve)] 12,000 49,92,000
2. Reserves and Surplus
Capital Reserve 48,000
Securities Premium Reserve 16,000
64,000
3. Cash and Cash Equivalents
Cash at Bank* 50,56,000

*` 15,00,000 – ` 5,00,000 + ` 19,60,000 + ` 10,30,000 + 9,70,000 + ` 96,000 = ` 50,56,000.
5.
Dr. REVALUATION ACCOUNT Cr.
Particulars ` Particulars `
To Stock A/c 22,500 By Building A/c 25,000
To Furniture A/c 12,500 By Provision for Doubtful Debt A/c:
To Gain (Profit) on Revaluation transferred to: Existing 5,000
Deepika’s Capital A/c 10,500 Less: Required (5% of ` 50,000) 2,500 2,500
Rajshree’s Capital A/c 7,000 17,500 By Bad Debts Recovered A/c 20,000
By Accrued Income A/c 5,000
52,500 52,500