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please someone solve it as soon as possible Following is the balance sheet of Aayush Ltd. For the year ended 31 March 2019. Liabilities Amount
please someone solve it as soon as possible
Following is the balance sheet of Aayush Ltd. For the year ended 31 March 2019. Liabilities Amount Assets Amount Capital -10000 shares of Rs 10 100,000 Buildings 100,000 each Reserves and Surplus 10,000 Machinery 30,000 Current assets 20,000 7% Debentures 80,000Debtors 50,000 Trade payables 40,000 Stock 40,000 Other Current Liabilities 70,000 Cash 60,000 Total 300,000 Total 300,000 The Net Profits after tax for the last 4 years were Rs.25,000; Rs.24,000; Rs.26,000 and Rs. 20,000. Normal rate of return on average capital employed is 10%. Find out the value of goodwill on the basis of 2 years purchase of super profits and also capitalisation of super profit. Buildings are revalued at Rs.150000 and machinery at Rs.40,000. All other assets are worth their book values. 3 Part-B (Answer any one question) Questions Marks C No 5 20 Sunrise Company Ltd. is a company with an authorized capital of Rs 5,00,000 divided into 5,000 equity shares of Rs 100 each 2,500 were called and fully-paid gives you the following ledger balances as on 31.3.2019. Amount Particulars (Rs) Stock (1.4.2018) 50,000 Sales 4, 25,000 Purchases 3,00,000 Wages 70,000 Discount allowed 4, 2001 Discount received 3, 1501 Insurance paid (up to 30.06.2019) 6,720 Salaries 18,500 Rent 6, 000 General expenses 8,950 Profit and loss account (cr.) 6.220 Printing and stationary 2, 400 Advertisement 3, 800 Bonus 10, 500 Debtors 38, 700 Creditors 35, 2000 Plant and machinery 80, 500 Furniture 17, 1000 Cash at bank 1, 34,700 Reserves 25,000 Loan from M.D 15, 700 Bad debts 3, 200 Calls in arrears 5 000 Loan from M.D 15, 700 Bad debts 3,200 Calls in arrears 5.000 You are required to prepare the income statement and balance sheet for the year ended 31.3.2019. The following further information is also given for adjustments: 1. Closing stock as on 31.3.2019 Rs 91,500 2. Provide a 15% depreciation on plant and machinery 10% on furniture. 3. Outstanding liabilities were wages Rs 5,200, salary Rs 1,200 and rent Rs 600 I 4. Dividend at 5% on paid-up capital is to be providedStep by Step Solution
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