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M.500 An Aid to Accountancy—CBSE XII

Average Future Maintainable Profit
Capitalised Value of the Firm = ¥ 100
Normal Rate of Return
` 3,00,000
= × 100 = ` 20,00,000
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Goodwill (Capitalisation of Average Profit)
= Capitalised Value of the Firm – Capital Employed
= ` 20,00,000 – ` 10,00,000 = ` 10,00,000.
(ii) Super Profit = Average Profit – Normal Profit
= ` 3,00,000 – ` 1,50,000 (i.e., ` 10,00,000 × 15/100) = ` 1,50,000
Goodwill (Capitalisation of Super Profit)
100
= Super Profit ×
Normal Rate of Return
100
= ` 1,50,000 × = ` 10,00,000.
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8. Out of total applications of 80,000 shares, allotment was made as follows:
Category Shares Applied Shares Allotted
(a) 20,000 Nil
(b) 20,000 20,000
(c) 40,000 30,000
Calculation of Total Amount Received on Allotment (including Calls-in-Advance):
Particulars `

Total allotment money due (50,000 shares × ` 3 per share) 1,50,000
Less: Excess application money adjusted on allotment [(40,000 – 30,000) × ` 2)] 20,000
Amount due but not paid by Mohan (20,000 × ` 3) 60,000 80,000
Amount received on allotment 70,000
Add: Calls-in-Advance received from Sohan (3,000 × ` 5) 15,000
Total Amount received on allotment including Calls-in-Advance 85,000
9. BALANCE SHEET OF RADHIKA TEXTILES LTD. (An Extract) as at 31st March, 2017
Particulars Note No. `
I. EQUITY AND LIABILITIES
Shareholders’ Funds
Share Capital 1 9,70,000

Note to Accounts
Particulars `
1. Share Capital
Authorised Capital
2,50,000 Equity Shares of ` 10 each 25,00,000
Issued Capital
2,00,000 Equity Shares of ` 10 each 20,00,000
Subscribed Capital
Subscribed but not fully Paid-up
2,00,000 Equity Shares of 10 each; ` 5 Called-up 10,00,000
Less: Calls-in-Arrears (15,000 × ` 2) 30,000 9,70,000