When shall accounting entries be taken by a company if it goes for merger i.e. on transfer date or effective date (i.e. when proposal was filed to ROC)
ruchika more (practise) (48 Points)
12 August 2008When shall accounting entries be taken by a company if it goes for merger i.e. on transfer date or effective date (i.e. when proposal was filed to ROC)
CA Naveen Kumar Agrawal
(Chartered Accountant / MBA)
(939 Points)
Replied 19 August 2008
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BALANCE SHEET AS ON 31.03.????
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LIABILITIES
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Amount
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Amount
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Assets
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Amount
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Amount
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Share Captial:
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W. N. - 10
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200000.00
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Fixed Assets
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(Bal. Fig.)
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225000.00
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Reserve & Surplus:
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Given
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100000.00
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Current Assets:
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W.N.- 2(ii)
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175000.00
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Cash & Receivables
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W. N. - 12
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46000.00
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Current Liabilities:
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W.N.- 2(i)
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100000.00
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Stock
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W. N. - 11
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129000.00
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Bank Over Draft
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Given
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60000.00
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Other Current Liabilities
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W.N.- 3
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40000.00
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400000.00
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400000.00
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1
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Current Ratio =
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CA/CL
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1.75 =
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CA/CL
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CA =
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1.75*CL
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2
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Working Capital =
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CA - CL
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75000 =
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1.75*CL - CL
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75000 =
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0.75*CL
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CL =
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75000/0.75
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(i) CL =
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100000.00
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CA =
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1.75*CL
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CA =
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1.75*100000
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(ii) CA =
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175000.00
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3
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Other Current Liabilities = Total Current Liabilities - Bank Over Draft
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= 100000 - 40000
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= 60000
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4
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Total Assets = Total Liabilities
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5
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Proprietary Ratio =
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Proprietors' Fund/ Total Assets
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6
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Proprietary Ratio =
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Proprietors' Fund/ Total Liabilities
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From 4 & 5
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7
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Total Liabilities =
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Proprietors' Fund + Current Liabilities
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as per the given information
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8
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Proprietary Ratio =
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Proprietors' Fund/(Proprietors' Fund + Current Liabilities)
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From 6 & 7
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9
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0.75 =
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PF/(PF + 100000)
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PF =
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0.75*PF + 0.75*100000
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PF - 0.75*PF =
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75000
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0.25*PF =
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75000
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PF =
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75000/0.25
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PF =
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300000
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10
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PF =
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Share Capital + R & S
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300000 =
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Share Capital + 100000
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Share Capital =
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300000-100000
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Share Capital =
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200000
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Liquid Liabilities =
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Current Liabilities - B.O.D.
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Liquid Liabilities =
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100000 - 60000
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Liquid Liabilities =
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40000
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Liquid Assets =
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Current Assets - Stock
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Liquid Assets =
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175000 - Stock
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11
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Liquid Ratio =
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Liquid Assets/Liquid Liabilities
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1.15 =
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(175000 - Stock)/40000
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40000*1.15 =
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175000 - Stock
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Stock =
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175000 - 46000
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Stock =
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129000
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12
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Liquid Assets =
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175000 - Stock
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Liquid Assets =
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175000 - 129000
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Liquid Assets =
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46000
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CA Naveen Kumar Agrawal
(Chartered Accountant / MBA)
(939 Points)
Replied 19 August 2008
| Originally posted by :Guest | ||
| " | I HAVE TO PREPARE BALANCE SHEET AS PER DETAILS GIVEN BELOW 1 WORKING CAPITAL 75000 2 RESERVE & SURPLUS100000 3 BANK OVERDRAFT 60000 4 CURRENT RATIO 1.75 5 LIQUID RATIO 1.15 6 PROPRITOR FUND 0 .75 |
" |
Here it comes the Balance Sheet with Detailed working as attached file.
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