Question

17. Alpha Manufacturing Company Ltd. was registered with a nominal capital of Rs. 6,00,000 in equity shares of Rs. 10 each. Following is the Trial Balance as on 31-3-2015. P.T.O
Subscribed and called up capital 4,00,000 Furniture​ 7,200
Calls in arrears 7,500 Plant and Machinery 3,30,000
6% debentures 3,00,000 Business premises 3,00,000
Profit and Loss A/C (Cr) 14,500​ Interim dividend 37,500
Bills Payable 38,000 Sundry Debtors 87,000
Stock 1-4-2014 75,000 Goodwill 25,000
Creditors 50,000​ Cash in hand​ 750
Sales 4,15,000​ Cash at bank​ 39,900
General Reserve 25,000 Purchases 1,85,000
Bad debt Reserve (1-4-2011) 3,500 Freight and Carriage 13,115
Salaries 14,500 Preliminary Expenses 5,000
Directors fee 5,725 Wages​ 84,865
Bad debt 2,110 Debenture interest 9,000
General expenses 6,835 Advertising​ 10,000

The following adjustments are to be made:
1. Depreciation plant and machinery by 5%, business premises
by 2% and write off Rs. 1,200 from furniture.
2. Write off Rs. 2,000 from preliminary expenses.
3. Provide for half year’s debenture interest.
4. Reserve for bad debt should be equal to 2% on sales.
5. Outstanding salary Rs. 500 and directors’ fees outstanding Rs.275.
6. Stock on 31-3-2015 was valued at Rs. 95,000.
You are required to prepare the final accounts in vertical form.
18.The Balance Sheet of Nithin Ltd, as on 31-3-2014 was as under:
Liabilities Rs. Assets Rs.
Share capital:​ Plant and Machinery 4,00,000
15,000, 5% Redeemable Furniture 42,000
preference shares of Vehicles 48,000
Rs. 10 each 1,50,000​ Investments 1,00,000
30,000 equity shares Stock 2,10,000
of Rs. 10 each​​ 3,00,000 Debtors 1,10,000
General Reserve ​ 1,60,000 Bank 90,000
Profit and Loss A/C ​ 55,000
Securities premium ​ 1,35,000
Creditors 2,00,000
10,00,000 10,00,000
On 31-3-2014 the company decided to redeem the preference shares at a premium of 5%, for this purpose it decided to utilize the general reserve. All the investments were sold for Rs. 97,500.
Give the journal entries and redraft the Balance Sheet

Answer 1

Answer:

I don't know sorry for

Explanation:

I hope you are understand that

Answer 2

Answer:

The answer is shown below as files

Explanation:

Financial Statements which includes P& L A/c & Balance Sheet are prepared from Trail Balance. Journal is prepared to record financial transaction & from which Ledger accounts are maintained. Balances of each account is transferred to Balance Sheet.

The finding are attached as files in the attachment