Question

The following is the balance sheet of Nokia

ltd. as on 31st March 2018

Liabilities Rs. Assets Rs.

Authorised capital Goodwill 1,50,000

(10,000 shares of Sundry assets 8,99,500

Rs. 100 each) 10,00,000 Cash 500

Issued and Preliminary

subscribed : expenses 25,000

7,000 shares of Profit and

Rs. 100 each Loss a/c 1,95,000

fully paid 7,00,000

Bank overdraft 2,00,000

Creditors 3,70,000

12,70,000 12,70,000

The company having now turned the corner,

the directors expect it to earn good profit in

future. You are asked to submit a scheme of​

Answer 1

Answer:

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