Ipcc paper: 1 accounting vol. i study material chapter 2
This query is : Resolved
01 May 2012
Pls any give the answer to the problem;
(Page 2.81 Q 12 July 2010 edition ipcc paper I, Vol I)
Bee Ltd. had the following Balance 0n 31.3.2006:
6% Pre. Share of Rs. 25 e.f.p 200000
Eq. Share of Rs. 100 e.f.p 100000
Share Premium A/c 200000
Capital Red. Res. A/c 100000
Gen. Res. 300000
P & L A/c 80000
On the date, Land and Building whcih stood at Rs. 500000 in the books were revalued at Rs. 800000. it was decided to i. consolidate the pr.shar into shares of 100 each. ii. subdivide the equ.sha. of Rs, 1 each iii. adopt the revaluation of land and building and iv. issue fully paid up bonus shares to eq. shar hol. equal to 50% of present e.s.capital revenue reserve and profit being used only if necessary for the purpose.
Give junal entries , MY DOUBT IS WHETHER IT IS INTERNAL RECONSTRUCION CHAPTER?
(Page 2.81 Q 12 July 2010 edition ipcc paper I, Vol I)
Bee Ltd. had the following Balance 0n 31.3.2006:
6% Pre. Share of Rs. 25 e.f.p 200000
Eq. Share of Rs. 100 e.f.p 100000
Share Premium A/c 200000
Capital Red. Res. A/c 100000
Gen. Res. 300000
P & L A/c 80000
On the date, Land and Building whcih stood at Rs. 500000 in the books were revalued at Rs. 800000. it was decided to i. consolidate the pr.shar into shares of 100 each. ii. subdivide the equ.sha. of Rs, 1 each iii. adopt the revaluation of land and building and iv. issue fully paid up bonus shares to eq. shar hol. equal to 50% of present e.s.capital revenue reserve and profit being used only if necessary for the purpose.
Give junal entries , MY DOUBT IS WHETHER IT IS INTERNAL RECONSTRUCION CHAPTER?
Guest
Guest
(Expert)
01 May 2012
Yes you will have to pass entries related to internal reconstruction and journal entries related bonus shares.
01 August 2024
https://docs.google.com/document/d/1L9NCj1bCB7KH0MANdUYL6f7O6RJOecUCLXHJaqxwTgs/edit?usp=sharing
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