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### Mohit Had Been Allotted For 600 Shares by a Govinda Ltd on Pro Rata Basis Which Had Issued Two Shares For Every Three Applied - Bzziii.com

Mohit had been allotted for 600 shares by a Govinda Ltd on pro rata basis which had issued two shares for every three applied. He had paid application money of ₹3 per share and could not pay allotment money of ₹5 per share. First and final call of ₹2 per share was not yet made by the company. His shares were forfeited. the following entry will be passed:

 Date Particulars L.F. Amount (Rs.) Amount (Rs.) Equity Share Capital A/c X To share Forfeited A/c Y To Equity Share Allotment A/c z

Here X, Y and Z are:

(A) ₹ 6,000; ₹2,700; ₹3,000 respectively.
(B) ₹ 9,000; ₹2,700; ₹4,500 respectively.
(C) ₹ 4,800; ₹2,700; ₹2,100 respectively.
(D) ₹ 7,200; ₹2,700; ₹4,500 respectively.

(C) ₹ 4,800; ₹2,700; ₹2,100 respectively.

### Explain the Role of ‘Justice Party’ in Boycotting of Council Elections | bzziii.com

Arun and Vijay are partners in a firm sharing profits and losses in the ratio of 5:1.  Balance Sheet (Extract)  Liabilities Amount (Rs.) Assets Amount (Rs.) Machinery 40,000 If the value of machinery reflected in the balance sheet is overvalued by 33 1/3%, find out the value of Machinery to be shown in the new Balance Sheet:  (A) ₹ 44,000  (B) ₹48,000  (C) ₹ 32,000  (D) ₹30,000  SOLUTION (D) ₹30,000  Explanation: Machinery is overvalued Value by 33 1/3% of 40,000 Here, 33 1/3% as a fraction = \frac{33\frac{1}{3}}{100} Converting the mixed fraction to an improper fraction, we get = \frac{\frac{100}{3}}{100}  = 100/300 Simplifying this, we get = 100/300 = 1/3 = 100/300 of z = 40,000-z Because, 40,000 is overvalued Value, we will minus the real value from 40,000. = "100x"/"300" + "300z"/"300" = 40,000 = "400z"/"300" = 40,000 = 40,000 \times 300/400 = z ∴ z = 30,000 4 5