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Meaning of prudence of conservatism

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Meaning of prudence of conservatism

    • Posted by Disha Dhiman 5 years, 2 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    ANSWER
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    Q43. Vikram Ltd. issued 50,000 shares of Rs. 10 each at a premium of Rs. 1 per share payable as follows: Rs. 3 on Application Rs. 4 on Allotment (including premium) Rs. 2 on First Call Balance when required Applications were collected for 46,000 shares and all of these were accepted. Directors did not make final call. A shareholder holding 800 shares did not pay the (Rs.) pending on first call. The shares were forfeited and re-issued at Rs. 7 per share, Rs. 8 per share paid. Pass Cash Book and Journal Entries

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    Kuldeep, general merchant, keeps his accounts on that informatio the results of his business on alat March, 2023 and for that following information is ava 1st April, 2022 (1) 1,50,000 31st March, 2023 1,75,000 Cash in Hand 7,50,000 Bank Balance Furniture Stock 6,50,000 Creditors 3,50,000 Debtors 2.50,000 3,00.005 During the your, he had withdrawn ₹5,00,000 for his personal use and as additional capital. Calculate his profits on 31st March, 2023 and Stateme of Affairs as on that date. invested ₹25000円 (Profit - 74 ,75,000)

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