solve account question
Answers
11(a)
Capital =asset - liabilities
=65000-6000
=59000
closing capital = opening capital + profit
59000= 50000+profit
profit = 59000-50000
=9000
Ans : profit = 9000
closing capital =59000
11(b)
closing capital = opening capital + additional capital + profit - drawings
59000 =50000+5000+profit -2000
59000=53000+profit
profit =59000-53000
=6000
11(c)
closing capital = opening capital - drawings+profit
59000=50000-3000+profit
profit = 59000-47000
=12000
Hope its useful..!!
Answer:Prepare a consolidated Balance Sheet on 31st March, 2018 for H Ltd. from the following Balance Sheets of H Ltd. and S Ltd.:
Balance Sheet of H Ltd. and S. Ltd. as
on 31st March, 2018
Particulars
1. Equity and Liabilities:
H Ltd.
S Ltd.
(3)
10,000
5,000
Shareholder's Funds:
Share Capital in 1 fully paid share
Reserve and Surplus:
General Reserve Statement of Profit & Loss Current Liabilities:
3,000
3,000
2,000
1,000
Trade Payables
10,500
25,500
3,000
12,000
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http://www.prsunotes.com
II. Assets:
Sundry Assets
Investment: 5000 shares in
20,000
12,000
S Ltd. at cost
5,500
25,500 12,000
(a)
Shares were acquired by H Ltd. on 1st October, 2017.
(b) There as a balance of 2,000 in the general reserve of S Ltd. On 1st April, 2017, S Ltd. transferred? 1,000 to general reserve from statement of P & L on 31st March, 2018. There was a no balance in the statement of P & L of S Ltd. on 1st April, 2017.
Explanation: