HOLLYDAY HOME WORK FOR 12TH ACCOUNTS
SHARE CAPITAL
1. Anish Limited issued 30,000 equity shares of Rs.100 each payable at Rs.30 on application, Rs.50 on allotment and Rs.20 on Ist and final call. All money was duly received. Record these transactions in the journal of the company.
2. The Adersh Control Device Ltd. was registered with the authorised capital of Rs.3, 00,000 divided into 30,000 shares of Rs.10 each, which were offered to the public. Amount payable as Rs.3 per share on application, Rs.4 per share on allotment and Rs.3 per share on first and final call. These shares were fully subscribed and all money was dully received. Prepare journal and Cash Book.
3. Software Solution India Ltd invited applications for 20,000 equity share of Rs.100 each, payable Rs.40 on application, Rs.30 on allotment and Rs.30 on call. The company received applications for 32,000 shares. Application for 2,000 shares was rejected and money returned to Applicants. Applications for 10,000 shares were accepted in full and applicants for 20,000 shares allotted half of the number of shares applied and excess application money adjusted
into allotment. All money received due on allotment and call. Prepare journal and cash book.
4. Rupak Ltd. issued 10,000 shares of Rs.100 each payable Rs.20 per share on application, Rs.30 per share on allotment and balance in two calls of Rs.25 per share. The application and allotment money were duly received. On first call, all members paid their dues except one member holding 200 shares, while another member holding 500 shares paid for the balance due in full. Final call was not made. Give journal entries and prepare cash book.
5. Mohit Glass Ltd. issued 20,000 shares of Rs.100 each at Rs.110 per share, payable Rs.30 on application, Rs.40 on allotment (including Premium), and Rs.20 on first call and Rs.20 on final call. The applications were received for 24,000 shares and allotted 20,000 shares and reject 4,000 shares and amount returned thereon. The money was duly received. Give journal entries.
6. A limited company offered for subscription of 1, 00,000 equity shares of Rs.10 each at a premium of Rs.2 per share. 2, 00,000 10% Preference shares of Rs.10 each at par. The amount on share was payable as under : Equity Shares Preference Shares On Application Rs.3 per share Rs.3 per share On Allotment Rs.5 per share Rs.4 per share (including premium) On First Call Rs.4 per share Rs.3 per share All the shares were fully subscribed, called-up and paid. Record these transactions in the journal and cash book of the company:
DEBENTURE CAPITAL
1. G.Ltd. issued 75, 00,000, 6% debentures of Rs.50 each at par payable Rs.15 onapplication and Rs.35 on allotment, redeemable at par after 7 years from the dateof issue of debentures. Record necessary entries in the books of Company.
2. Y.Ltd. Issued 2,000, 6% debentures of Rs.100 each payable as follows: Rs.25 onapplication; Rs.50 on allotment and Rs.25 on first and final call.
3. A.Ltd. Issued 10,000, 10% Debentures of Rs.100 each at a premium of 5% payableas follows:Rs.10 on Application;Rs.20 along with premium on allotment and balance on first and final call. Record necessary Journal Entries.
4. A. Ltd. issued 90, 00,000, 9% Debenture of Rs.50 each at a discount of 8%,redeemable at par any time after 9 years. Record necessary entries in the books ofA. Ltd.
5. A.Ltd. Issued 4,000, 9% Debentures of Rs.100 each on the following terms: Rs.20 on Application;Rs.20 on Allotment;Rs.30 on First call; andRs.30 on Final call.The public applied for 4,800 debentures. Applications for 3,600 debentures wereaccepted in full. Applications for 800 Debentures were allotted 400 debenturesand applications for 400 Debentures were rejected.
6. T. Ltd. offered 2,00,000, 8% debenture of Rs.500 each on June 30, 2002 at apremium of 10% payable as Rs.200 on application (including premium) and balanceon allotment, redeemable at par after 8 years. But application are received for3, 00,000 debentures and the allotment is made on pro-rata basis. All the moneydue on application and allotment is received. Record necessary entries regardingissue of debentures.
7. X.Ltd. invites application for the issue of 10,000, 14% debentures of Rs.100 eachpayable as to Rs.20 on application, Rs.60 on allotment and the balance on call TheCompany receives applications for 13,500 debentures, out of which applicationsfor 8,000 debentures are allotted in full, 5,000 only 40% and the remaining rejected.The surplus money on partially allotted applications is utilized towards allotment.All the sums due are duly received.
8. R.Ltd. offered 20, 00,000, 10% debentures of Rs.200 each at a discount of 7%redeemable at premium of 8% after 9 years. Record necessary entries in the booksof R. Ltd.
9. M.Ltd. took over assets of Rs.9, 00, 00,000 and liabilities of Rs.70, 00,000 of S.Ltd.and issued 8% debentures of Rs.100 each. Record necessary entries in the booksof M. Ltd.
10. B.Ltd. purchased assets of the book value of Rs.4, 00,000 and took over the liabilityof Rs.50, 000 from Mohan Bros. It was agreed that the purchase consideration,settled at Rs, 3, 80,000, be paid by issuing debentures of Rs.100 each.What Journal entries will be made in the following three cases, if debentures areissued: (a) at par; (b) at discount; (c) at premium of 10%? It was agreed that anyfraction of debentures be paid in cash.
11. X.Ltd. purchased Machinery from Y ltd. at an agreed purchase consideration ofRs.4, 40,000 to be satisfied by the issue of 12% debentures of Rs.100 each at a premium of Rs.10 per debenture. Journalise the transactions.
12. X.Ltd. issued 15,000, 10% debentures of Rs.100 each. Give journal entries in thebalance sheet in each of the following cases:(i) The debentures are issued at a premium of 10%;(ii) The debentures are issued at a discount of 5%;(iii) The debentures are issued as a collateral security to bank against a loan ofRs.12, 00,000; and(iv) The debentures are issued to a supplier of machinery costing Rs.13, 50,000.
13. Journalise the following:(i) A debenture issued at Rs.95, repayable at Rs.100;(ii) A debenture issued at Rs.95, repayable at Rs.105; and(iii) A debenture issued at Rs.100, repayable at Rs.105;the face value of debenture in each of the above cases is Rs.100.
14. A.Ltd. Issued 50, 00,000, 8% debentures of Rs.100 at a discount of 6% on April 01,2000 redeemable at premium of 4% by draw of lots as under:20, 00,000 debentures on March, 2002
10, 00,000 debentures on March, 200420, 00,000 debentures on March, 2005Compute the amount of discount to be written-off in each year till paid. Also prepare discount/loss on issue of debenture account.
HOLLYDAY HOME WORK FOR 12TH BUSINESS STUDIES
1. What is working capital /how is it calculated? Discuss five importantdeterminants of working capital requirement.
2. “Capital structure decision is essentially optimisation of risk-returnrelationship.” Comment.
3. “A capital budgeting decision is capable of changing the financial fortunesof a business.” Do you agree? Give reasons for your answer?
4. Explain the factors affecting the dividend decision.
5. Explain the term ‘Trading on Equity’. Why, when and how it can be used by a company.
6. Explain the various Money Market Instruments.
7. What are the methods of floatation in Primary Market?
8. Explain the recent Capital Market reforms in India.
9. Explain the objectives and functions of the SEBI
10. Explain the various segments of the NSE.
11 Explain the rights and responsibilities of a consumer.
12 What are various ways in which the objective of consumer protection can be achieved? Explain the role of consumer organisations and NGOs in this regard.
13 Explain the redressal mechanism available to consumers under the Consumer Protection Act, 1986.
14. Explain the various steps involved in the process of control.
15. Explain the techniques of managerial control.
16. Explain the importance of controlling in an organisation. What are the problems faced by the organisation in implementing an effective control system?
17. Discuss the relationship between planning and controlling.
HOLLYDAY HOME WORK FOR 11th ACCOUNTS
1. Explain the concept of depreciation. What is the need for chargingdepreciation and what are the causes of depreciation?
2. Discuss in detail the straight line method and written down value methodof depreciation. Distinguish between the two and also give situations wherethey are useful.
3. Describe in detail two methods of recording depreciation. Also give thenecessary journal entries.
4. Explain determinants of the amount of depreciation.
5. On July 01, 2010 Ashwani purchased a machine for Rs. 2, 00,000 on credit.Installation expenses Rs. 25,000 are paid by cheque. The estimated life is 5years and its scrap value after 5 years will be Rs. 20,000. Depreciation is tobe charged on straight line basis. Show the journal entry for the year 2010and prepare necessary ledger accounts for first three years.
6. On October 01, 2000, a Truck was purchased for Rs. 8, 00,000 by LaxmiTransport Ltd. Depreciation was provided at 15% p.a. on the diminishingbalance basis on this truck. On December 31, 2003 this Truck was sold forRs. 5, 00,000. Accounts are closed on 31st March every year. Prepare aTruck Account for the four years.
7. Kapil Ltd. purchased machinery on July 01, 2010 for Rs. 3, 50,000. Itpurchased two additional machines, on April 01, 2002 costing Rs. 1, 50,000 and on October 01, 2002 costing Rs. 1, 00,000. Depreciation is provided
@10% p.a. on straight line basis. On January 01, 2003, first machinery becomes useless due to technical changes. This machinery was sold for Rs.1, 00,000. Prepare machinery account for 4 years on the basis of calendar year.Briefly explain the effects of dishonour and noting of a bill of exchange.
8. Explain briefly the procedure of calculating the date of maturity of a billof exchange? Give example.
9. Distinguish between bill of exchange and promissory note.
10. Briefly explain the purpose and benefits of retiring a bill of exchange tothe debtor and the creditor.
11. Explain briefly the purpose and advantages of maintaining of a BillsReceivable Book.
12. Briefly explain the benefits of maintaining a Bills Payable Book andstate how is its posting is done in the ledger?
13. On Jan 01, 2011 Rao sold goods Rs.10, 000 to Reddy. Half of the paymentwas made immediately and for the remaining half Rao drew a bill ofexchange upon Reddy payable after 30 days. Reddy accepted the bill
and returned it to Rao. On the due date Rao presented the bill to Reddyand received the payment.Journalise the above transactions in the books Rao and prepare ofRao’s account in the books of Reddy.
14. On Jan 01,2011, Shankar purchased goods from Parvati for Rs.8,000and immediately drew a promissory note in favour of Parvati payableafter 3 months. On the date of maturity of the promissory note, the
Government of India declared holiday under the Negotiable InstrumentAct 1881. Since, Parvati was unaware about the provision of the lawregarding the date of maturity of the bill, she handed over the bill toher lawyer, who duly presented the bill and received the payment. Theamount of the bill was handed over by the lawyer to Parvati immediately.Recore the necessary Journal entries in the books of Parvati andShankar.
15. Vishal sold goods for Rs.7,000 to Manju on Jan 05, 2011 and drew uponher a bill of exchange payable after 2 months. Manju accepted Vishal’sdraft and handed over the same to Vishal after acceptance. Vishalimmediately discounted the bill with his bank@12% p.a. On the duedate Manju met her acceptance.Journalise the above transactions in the books of Vishal and Manju.
16. On Feb 01, 2011, John purchased goods for Rs.15,000 from Jimmi. Heimmediately made a payment of Rs.5,000 by cheque and for the balanceaccepted the bill of exchange drawn upon him by Jimmi. The bill ofexchange was payable after 40 days. Five days before the maturity ofthe bill, Jimmi sent the same to his bank for collection. The bank dulypresented the bill to John on the due date who met the bill. The bankinformed the same to Jimmi.Prepare John’s account in the books of Jimmi and Jimmi account inthe books of John.
HOLLYDAY HOME WORK FOR 11TH BUSINESS STUDIES
1. What are services? Explain their distinct characteristics?
2. Explain the functions of commercial banks with an example of each.
3. Write a detailed note on various facilities offered by Indian Postal Department.
4. Describe various types of insurance and examine the nature of risks protected by each type of insurance.
5. Explain in detail the warehousing services.
6. Explain briefly the principles of insurance with suitable examples.
7. What are e-business and outsourcing referred to as the emerging modes of business? Discuss the factors responsible for the growing importance of these trends.
8. Elaborate the steps involved in on-line trading.
9. Evaluate the need for outsourcing and discuss its limitations.
10. Build up arguments for and against social responsibilities.
11. Discuss the forces which are responsible for increasing concern of business enterprises toward social responsibility.
12. ‘Business is essentially a social institution and not merely a profit making activity’. Explain.
13. Why do the enterprises need to adopt pollution control measures?
14. What steps can an enterprise take to protect the environment from the dangers of pollution?
15. Explain the various elements of business ethics.
16. Explain trade credit and bank credit as sources of short-term finance for business enterprises.
17. Discuss the sources from which a large industrial enterprise can raise capital for financing modernisation and expansion.
18. What advantages does issue of debentures provide over the issue of equity shares?
19. State the merits and demerits of public deposits and retained earnings as methods of business finance.
20. Discuss the financial instruments used in international financing.
21. What is a commercial paper? What are its advantages and limitations?