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### Vishnu Ltd. Forfeited 20 Shares of ₹10 Each, ₹8 Called Up, on Which John Had Paid Application And Allotment Money of ₹5 Per Share - Bzziii.com

Vishnu Ltd. forfeited 20 shares of ₹10 each, ₹8 called up, on which John had paid application and allotment money of ₹5 per share, of these, 15 shares were reissued to Parker as fully paid up for ₹6 per share. What is the balance in the share Forfeiture Account after the relevant amount has been transferred to Capital Reserve Account?

(A) ₹0
(B) ₹5
(C) ₹25
(D) ₹100

(C) ₹25

Explanation:

 Date Particulars L.F. Amount (Rs.) Amount (Rs.) Share Capital A/c 160 To Share Forfeiture A/c 100 To Calls in areal 60 Bank A/c 150 To Share Capital A/c 90 To Share Premium A/c 60 Share Forfeiture A.c 25 To Capital Reserve A/c 25

= "100"/"20 Shares"x 15 Shares

= Rs. 75

= Rs. (100 - 75)

= Rs. 25.

### 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