Professional Documents
Culture Documents
AMOUNT
xxx
(Amoiunt Received on Application on 100 Share X Rs. 10 Per. Share ) (2) When Application Money is Transferred to Share Capital Share Application A/C Dr. To share capital A/C (No. of Share Attotted X Application Money per Shares) (3) When for Refund of Application Money or Rejuted Share Application A/c Dr. To Bank A/c ( No. of Share Rejucted X Application Money per Share ) (4) when Adjustment of Excess Application Money or Prorata to share Share Application A/c Dr. To Share Allotment A/c [ Application Money Received - ( Application Money Transferred to Share capital + Money Refunded )] (5) when Allotment Money is due premium & discount to share Share Allotment A/C Dr. Discount on issue of share A/c Dr. To securities premium A/C To Share Capital A/C (No. of Share Alloted X Allotment Amount per share) (6) when Allotment Money is received Bank A/c Dr. To Share Allotment A/C ( No. of Application Money Received X Allotment Amount per Share )
xxx
xxx
xxx
xxx xxx
xxx
PARTICULARS
(7) When Any Call is made on the Share: Share Call A/c To Share Capital A/C ( No. of Share X Call Amount per Share ) (8) When Calls Money is Received : Bank A/c To Share Call A/C ( No. of Application Money Received X Call Amount Per Share ) (9) when Forfeiture of Share Reissued at premium & Discount : Share Capital A/C Securities Premium A/C To Share Forfeited A/C To Share Allotment A/C TO Discount on issue of Share A/c Dr. Dr. Dr. Dr.
Amount
xxx
xxx
xxx xxx
working notes:
particulars
(1) Over Subscription / pro-rata Allotment :
Number of Application receeived Less: Transferred to share capital Excess application money Less: Refunded Excess money to be adjusted towards allotment money
No.of Share
XXX XXX XXX XXX xXX
PREMIUM :
AMOUNT
Share Capital:
BALANCE SHEET OF .. AS ON ..
LIABILITIES
Authorised share capital xxx Issued share capital Subscribed share capital Called up share capital paid up : Called up share xxx less: Call in Arrears Add: Forfeited Share Reserves And Surplus: Securitiess premium Capital Reserves xxxx XXXX xxxx xxxx xxxx xxxx xxxx xxxx xxxx
Amount
Current Assets : xxxx xxxx xxxx xxxx
ASSETS
Cash at Bank Miscellaneous Expenditure: Discount on issue of share
xxx
xxx xxx
xxx
Amount
xxx
xxx
Amount
XXXX XXXX XXXX XXXX XXXX
..
Amount
xxxx xxxx xxxx
XXXX
BANK ACCOUNT
PROFIT / LOSS ACCOUNT FOR THE YEAR ENDED .
Schedule No.
1
Amount C.Y
Amount P.Y
13 14
PROFIT / LOSS: Net profit/Loss (-) for the year Profit / LOSS (-) brought forward Total
APPROPRIATIONS: Transfer to Statutory reserves Transfer to other reserves Transfer to Government / proposed Dividend Balance Carried over to Balanced sheet Total
SCHEDULE 1 - CAPITAL
Issued and subscribed share capital Authorised capital called up and paid up capital
SCHEDULE 3 - DEPOSITS
Fixed deposits Saving bank deposite Current account Demand Deposits from others
SCHEDULE 4 - BORROWING
Short loan
SCHEDULE 7 - Balance with banks and money at call and short notice
Money at call and short notice Cash with other banks
SCHEDULE 8 - INVESTMENT
Investment Government bonds gold Bullion Investment in Government securities provident fund investment Reserve fund investment
SCHEDULE 9 - ADVANCES
Bills discounted and purchase Loans cash credits and overdraft Loans and Advances Overdrafts Bills purchased Secured loans Cash credits Owing by Foreign correspondents Less: Provision for doubtful debts
Schedule No.
Amount C.Y
Amount P.Y
ASSETS
Cash and balance with RBI Balance with banks and money at call and short notices Investment Advances Fixed Assets Other Assets 7 8 9 10 11 6
Total
Contingent Liabilities 12
FINAL ACCOUNT OF LIFE INSURANCE COMPANY FORM A - RA REVENUE ACCOUNT FOR THE YEAR ENDED 31ST MARCH. particulars
Premium Earned - Net: (a) Premium Received (b) Reinsurance Ceded (C) Reinsurance Accepted Income from invesstment : (a) Interest and Dividend (Gross ) Other income ( To be Specified ) : (a) policy renewal fee (b) Assignment fee (c) Endowment fee (d) Transfer fee (e)consideration for annuities granted (f) Fines for revival of policies TOTAL (A) Commission Operating Expenses Benefit Paid (Net) TOTAL (B) Surplus ( C) = (A) - (B) Appropriaions : Transfer to Shareholders Account Transfer to other resrves Balance being for futung future Appropriations TOTAL (D) xxxx
Schedu No.
1
Amount
xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxxx
2 3 4
Schedule No.
Amount
5 6 7
8 9 10
Current Asset : Cash and bank balance Advance and other Assets
SUB TOTAL ( C)
11 12 xxxx 13 14
Schedules : 1
Premium Received Add: Less: Outstanding Premium Further Bonus in reduction of Premium first year premium Renewal premium Single Premium Add: Less: Reinsurance Accepted Reinsurance Ceded
Schedules : 2
Commission paid Direct - First year Premium Renewal Premium Single Premium Add: Less: Commission on Reinsurance Accepted Commission on Reinsurance Ceded
Commission Expenses
Schedule : 7 Borrowing
Debentures / Bonds Banks Financial institutions
Schedules : 8 Investment
State, central government Securities leasehold ground rents Debenturesss of public bodies Shares in limited companies Deposit with RBI ( Central Govt. Securities )
Schedules : 9 Loans
Loans on mortgages Loans on policies Mortgages : India, out of india lLoan on life Policies / Companies policies Loan on Govt. Securities Less: Surrenders adjusted
Schedules : 14 Provisions
Reserve for unexpired Risk Proposed Dividends For Dividend , Distribution Tax Less: Tax deducte and rentd at source on interest, dividend
plus
LIQUIDATION OF COMPANIES LIQUIDATOR'S FINAL STATEMENT OF A ACCOUNT FOR THE YEAR ENDED .. RECEPITS
To Cash in hand To Assets Reealised: Debtors Stock Furniture Plant & Machinery patents Land & Building Freehold Property Motor Vehicles Cal in arrearsl To Surplus from Secured Creditors To Recepit of unpaid Calls on Shares.
AMOUNT
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX
PAYMENT
By Legal Charges BY Liquidation Expenses BY Liquidation Remunerations % on Assets Realised amount XXXX % on Preferential Creditor XXXX % on Unsecured Creditor XXXX By Debentures Holders: Debentures XXXX Interest Accured XXXX Interest on from Date XXXX By Preferential Creditors BY Unsecured creditors: Bank overdraft Creditors xxxx Less: Discount xxxx BY Preference Shareholders: Preferencce Dividend Securities Premium By Equity Shareholders XXXX XXXX XXXX XXXX
XXXXX
WORKING NOTES: Calculation of amount payable to Preference Share (or) Equity Shareholders:
Total share capital ( paid up capital ) Less: Balance available after payment to Expensess, Liquidator Remuneration, Debenture holders, preference Creditors, secured creditor Deficiency (or) Loss to be Borne by Share holders XXXX XXXX XXXX
Loss to be borne by Share holders = Defifiency / No.Of. Share Share ( A ) Paid up value per share Less: Loss per Share Amount payable on each shares XXXX XXXX XXXX
R ENDED .. AMOUNT
XXXX XXXX XXXX XXXX XXXX
XXXX XXXX
XXXX
XXXX XXXX
XXXXX
areholders:
XXXX XXXX XXXX XXXX to
DEBENTURES
JOURNSL ENTRIES FOR ISSUE OF DEBENTURES AT PAR , DISCOUNT, PREMIUM :
PARTICULARS (1) When Applicationh Money is Received Bank A/c Dr. To Debenture Applicaion A/C (Being the Received on Application money ) (2) When Application Money is Transferred to Debenture Account Debentures Application A/C Dr. To Debenture A/C (No. of Share Attotted X Application Money per Shares) (3)Refund of Application Money or Rejuted due to over subscription Debentures Application A/c Dr. To Bank A/c ( No. of Share Rejucted X Application Money per Share ) (4) when Adjustment of Excess Application Money or Prorata to share Debentures Application A/c Dr. To Debentures Allotment A/c [ Application Money Received - ( Application Money Transferred to Share capital + Money Refunded )] (5) when Allotment Money is due premium & discount to share Debentures Allotment A/C Dr. Discount on issue of Debentures A/c Dr. To securities premium A/C To Debentures A/C (No. of Share Alloted X Allotment Amount per share) (6) when Allotment Money is received Bank A/c Dr. To Debentures Allotment A/C ( No. of Application Money Received X Allotment Amount per Share ) AMOUNT AMOUNT xxx xxx
xxx xxx
xxx xxxx
xxx xxx
xxx xxx
PARTICULARS (7) When Any Call is made on the Share: Debentures Call A/c Dr. To Debentures A/C ( No. of Share X Call Amount per Share ) (8) When Calls Money is Received : Bank A/c Dr. To Debentures Call A/C ( No. of Application Money Received X Call Amount Per Share ) (9)DEBENTURES ISSUED FOR CONSIDERATION OTHER THAN CASH (A) When Purchase of Fixed assets or business is Finalized. Business Purchase A/C Dr. (with the Rs. Of purchase Consideration) Fixed Assets A/C Dr. To Vendors A/C ( Being Fixed assets Purchased ) (B) On payment of purchase Consideration by issuing debentures. Vendor A/C Dr. (with the Rs. Of purchase Consideration) To Debentures A/c (Being issue of debenture as consideration for purchase of fixed assets) ( C) When payment is made for purchase of fixed asset by issuing debentures at premium. Vendor A/C Dr. (with the Rs. Of purchase Consideration) To Debentures A/c To premium on issue of debenture A/c (Being issue of debenture as consideration for purchase of fixed assets) (D) When payment is made for purchase of fixed asset by issuing debentures at premium. Vendor A/C Dr. (with the Rs. Of purchase Consideration) Discount on issue of Debentures A/c Dr. To debenture A/c (Being issue of debenture as consideration for purchase of fixed assets)
Amount xxx
Amount
xxx
xxx xxx
xxx xxx
REDEMPITION OF DEBENTURES
PARTICULARS (1) When debeentures are issued at par and redeemable at per (A) For issue of debentures: Bank A/c Dr. To Debentures A/C (B) On redeemable of debentures : Debentures A/c Dr. To Bank A/C (2) When debeentures are issued at discount and redeemable at per (A) For issue of debentures: Bank A/c Dr. Discount on issue of debentures A/C Dr. To Debentures A/C (B) On redeemable of debentures : Debentures A/c Dr. To Bank A/C (3) When debeentures are issued at Premium and redeemable at per (A) For issue of debentures: Bank A/c Dr. To Debentures A/C To Premium on issue of debentures A/C (B) On redeemable of debentures : Debentures A/c Dr. To Bank A/C (4) When issued at Par and redeemable at Premium. (A) For issue of debentures: Bank A/c Dr. ( with actual money received ) Loss on issue of debentures A/C Dr. To Debentures A/C ( Nominal value ) To Premium on redeemable of debentures A/C (B) On redeemable of debentures : Debentures A/c Dr. Premium on redeemable of debentures A/C Dr. Amount Amount
To Bank A/C
xxx
Particulars
(5) When issued at discount and redeemable at Premium. (A) For issue of debentures: Bank A/c Dr. ( with actual money received ) Loss on issue of debentures A/C Dr. To Debentures A/C ( Nominal value ) To Premium on redeemable of debentures A/C (B) On redeemable of debentures : Debentures A/c Dr. Premium on redeemable of debentures A/C Dr. To Bank A/C
Amount Amount
VALUATION OF SHARES
(1) Net Assets method (or) Intrinsic value (or) Break up value (or) Assets backing method :
Intrinsic value of each Share = Net Assets No. of Equity Share
( 2 ) Fair Value
Intrinsic + yield Value 2
( 3 ) Yield Method :
(A) Expected rate of return = Profit available for Equity dividend paid up equity capital Expected rate of return Normal rate of return X 100
(B)
chase
CHAPTER = 4
FINAL STATEMENT OF COMPANIES
TRADING ACCOUNT OF M/S FOR THE YEAR ENDING ...
Particular
To Opening Stock To Purchase Less: Purchase Return or outward To Carriage Inward To freight inward To Wages To Factory expenses To Store consumed To Royalties To Motive power To Coal and coke To Water To Oil To Primary Packing To Octroi To Dock xharges To Custom Duty To gross profit Transferred to P & L A/C
Amount
xxx xxx
Particular
Amount
xxx xxx
XXX By Sales Less: Sales Return or inward XXX BY Closing Stock XXX By Gross loss transferred to XXX p & l A/c ( IF there is a loss ) XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXXX
PROFIT AND LOSS ACCOUNT OF M/S FOR THE YEAR ENDING Particular
To Gross loss transferred from trading
Amount
xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx x xx
Particular
By Gross profit transferred from trading A/C BY Rent from tenants By Discount received or Cr. BY Commission Received or Cr. By Income frpm investment By Interest on Drawing By Interest Received By Provision for discount on Creditors (New) less: Old Provision
Amount
To Salary To Rent, rates and taxes To printing and stationary ToPostage and telegram To Audit fee To Insurance To Discount allowed or Dr. To Packing charges To Trade expenses To Depreciation To Interest on Capital To Travelling expenses To Bad Debt ( old) Add: Bad Debt Written off (New) Add: Provision for bad & doubtful debts (New) Less: (old ) Provision To Provision for discount on debtor (New) Less: (old ) Provision
xxx xxx
xxx
Amount
xxx xxx xxx xxx xxx xxx
Assets
cash in hand cash in bank Bills Receivable Accounts eceivable Sundry debtors Less: New bad debts lesss: New provision for bad & doubtful debts less: provision for discount on debtors premises freehold premises Lose tools Furniture Less: Depreciation plant & machinery Land & Building Investment on share computer fixture and fittings Office equipment Accrued income prepaid exp. Or unexpaid Good will Copy right , patents preliminary exp. Trade mark Closing stock
Amount
xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx
xxx xxx
xxx
...
Amount
XXX XXX XXX
XXXXX
NG Amount
xxx
xxx
Amount
Amount
xxx xxx xxx xxx
xxx
xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx
ADJUSTMENT
Closing Stock Outstanding Exp. Prepaid Exp. Accrued Income Income Received in Advance Interest on Capital Interest on Drawing Interest on Investment Interest on Loan Depreciatuion Bad Debts
TRADING ACCOUNT
Cr. Side Only Dr. Side Add With Exp. Dr. Side Less With Exp.
Dr. Side Add With Exp. Dr. Side Less With Exp. Cr. Side Add With Income Cr. Side Less From Income Dr. Side Only Cr. Side Only Cr. Side Add With Interest Dr. Side Add With Interest Dr. Side Only Dr. Side Only Dr. Side Only Dr. Side Only Cr. Side Only
Provision for Bad And Doubtful Debts Provision for Bad And Discount on Dr. Provision for Bad And Discount on Cr.
BALANCE SHEET
Assets Side Only Liabilities Side Only Assets Side Only Assets Side Only Liabilities Side Only Liabilities Add Capital Liabilities Less Capital Assets Side Only Liabilities Side Only Assets Less from Depreciation Assets Less With Bad Debt Assets Less From Debtor Assets Less From Debtor Labilities Less From Debtor
Particulars
Gross profit EXPENSES: Time Ratio Salaries Rent & Taxes Stationery Postage Depreciation Bank charges Intrest & Loan Office expenses Insurance premium Electicity Charges Auditors Fees Establishment Expenses Carriage inwards Ligitings Interest Received Rent Received Sales Ratio Selling Expenses Advertising Salesman commission Sales promotion expenses Carriage outwords Bad debts Discount allowed Commission Travellers Commission , Exp. Provition discount on debts Underwriting commission (A)
Basis of Apportionment
Sales Ratio
Total
xxxx
pre incorporation
xxx
Time Ratio Time Ratio Time Ratio Time Ratio Time Ratio Time Ratio Time Ratio Time Ratio Time Ratio Time Ratio Time Ratio Time Ratio Time Ratio Time Ratio Time Ratio Time Ratio Saless Ratio Saless Ratio Saless Ratio Saless Ratio Saless Ratio Saless Ratio Saless Ratio Saless Ratio Saless Ratio Saless Ratio Saless Ratio
xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx
xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx
Particulars
Allocation: Formation expenses Directors fee Managing Directors Salary Preliminary expenses campany Secretary Salary Debentures Interest Total Expenses Net Profit (A-B) (B)
Basis of Apportionment
Allocation Allocation Allocation Allocation Allocation Allocation
Total
pre incorporation
xxxx xxxx xxxx xxxx xxxx xxxx XXXX XXXX XXXX XXXX
ON
N PROFIT OF ..
No. Of Shares X Y
xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxxx xxx xxx xxx xxx xxx xxx (-)xxx xxx xxx xxx xxxx
Gross liability Less: Marked Application ( Received application) Less: firm underwriting Less: Unmarked Application ( in the ratioof gross liability)
xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx
Less: Y's Suplus transferred to X,Z in the ratio Net Liability Add: Firm underwriting Total liability of underwriting
Post incorporation
ENTURES
RWRITERS Total
o. Of Shares Z
xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxxx
xxxx xxxx xxx xxx xxx xxx xxx xxx xxx xxx xxxx