Please help me out with these problems...
1.Mr.X was a holder of 700 shares of RS.100 each in Z Ltd. upon which 50% share had been called up but he had paid only Rs.25 per share thereon. The company forfeited his shares and afterwards sold them to Mr.Y , credited as Rs.50 per share paid for rs.25000. The amount to be transfer to capital reserve is..
a) Rs.7500 b) Rs.25000 c) Rs.35000 d) Rs.70000
2.Sundry debtors on 31st march 2010 are Rs.105000. further bad debts are Rs.5000, sales return recorded in books Rs.10000. Old provision for bad debts is Rs. 4000. Provision for doubtful debts is to be made on debtors @ 10% and also provision of discount is to be made on debtors @ 3%. What will be the amt. of bad debts charged in P&L a/c after considering provisions for bad debts?
a) Rs.2700 b) Rs.10500 c) Rs.12700 d) Rs.6000
3.Books of Ram shows on 1st January 2010 furniture Rs.20000. During the year a part of the furniture whose book value on 1st jan. 2010 is Rs.1200 has been exchanged with another furniture by paying additional Rs.500. Ram charge depreciation @ 10% p.a. The net amt. of the furniture to be shown in the balance sheet will be
a)Rs.18478 b)Rs.18600 c)Rs.18504 d)Rs.18784
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