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X Ltd purchased 70% of the shares of Y Ltd at a price of Rs. 1,00,000. The share capital of Y Ltd was Rs. 70,000, and its accumulated profits amounted to Rs. 90,000. What would be the amount of minority interest in the consolidated balance sheet?

Correct Answer: Rs. 1,00,000

X Ltd. purchased 70% of the shares of Y Ltd. at a price on 1,00,000. Share capital of Y Ltd. was of Rs. 70,000 and its accumulated profits amounted to Rs. 90,000. What would be the amount of Minority Interest in the consolidated balance sheet?

Ram of Allahabad filed a petition in the court for adjudication as insolvent. At that time one month's salary due to five clerks amounted to Rs. 2,000, one month's wages due to ten workers amounted to Rs. 1,500, rent and rates due amounted to Rs. 500. Income tax due amounted to Rs. 1,200 and one month's rent due amounted to Rs. 1,000. The amount of preferential creditors would be:

The Share Capital, General Reserve and Profit and Loss Account (Cr.) of B. Ltd. stood at Rs. 6,00,000 (divided into 60,000 shares of Rs. 10 each), Rs. 1,20,000 and Rs. 1,80,000 respectively. A majority of 40,000 shares had been acquired by A. Ltd. and at the time of acquisition undistributed profit and General Reserve amounted to Rs. 1,00,000. The present value of the minority interest would be:

Rashna Company collected the following data in its accounting records in 2014 : From the income statement : Depreciation expense Tk. 1,000 Loss on sale of equipment 3,000 From the comparative balance sheet : Beginning balance , equipment Tk. 12,500 Ending balance , equipment 8,000 Beginning balance , accumulated depreciation 2,000 Ending balance , accumulated depreciation 2,400 No new equipment was purchased during the year. The equipment was sold at the end of the year. What was the cash in -flow from the sale of equipment in 2014?

X Ltd. forfeited 20 shares of Rs. 10 each (Rs. 8 called up) on which John had paid application and allotment money of Rs. 5 per share. Of these, 15 shares were reissued to Parker as fully paid up for Rs. 6 per share. What is the balance in the share forfeiture account after the relevant amount is transferred to the capital reserve account?

A company issued 1,00,000 equity shares of the face value of Rs. 100 each at Rs. 100 per share. So far Rs. 75 per share has been called up including Rs. 25 on allotment and Rs. 25 on first call. X to whom 200 shares were issued failed to pay the first call. His shares were forfeited and re-issued to Y at Rs. 70 per share as fully paid-up. The amount to be transferred to Capital Reserve a/c would be:

The Balance Sheet of a company includes, among other item, 10% Redeemable Preference Share of Rs. 1,60,000 fully paid, share premium Rs. 1,000 and a revenue reserve of Rs. 1,31,000. The company decided to redeem the above shares at a premium of 5% by issue of new shares. If the new issue of shares is to be at a premium of 20%, the minimum amount of new issue will be

ABC Ltd., forfeited 20 shares of Rs. 10 each on which Rs. 6 per share were paid. If out of these shares 8 shares were reissued to Hari as fully paid up on payment of Rs. 5.50 per share, the amount that will stand to the credit of Share Forfeited A/c will be

If Tk. 4,500 was invested in a share when the price per share was Tk. 9 and Tk. 3,000 was invested in another share when the price per share was Tk. 10. What was the average price per share purchased?

X Ltd. forfeited 20 shares of Rs. 10 each on which Rs. 6 per share were paid. Out of these shares, 8 shares were reissued as fully paid up on payment of Rs. 5.50 per share. The amount to be transferred to capital reserve account will be: