Evaluate market value of shares
Course:- Cost Accounting
Reference No.:- EM13298387

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Ahsan seeds limited was incorporated with a nominal capital of Rs. 10,00,000 composed of equity shares of Rs. 10 each. The following trial balance was extracted from the books as on 31st December 1993.

                                                                                 Dr                                   Cr

                                                                                 Rs                                   Rs

Share capital (fully called-up)                                                                     4,00,000

Stock????????..                                 1,00,000

Gross profit??????                                                                          2,00,000

Sundry debtors and creditors?                          1,45,000                           30,000

Fixed assets (at cost):

Furniture????                                              60,000

Motorcar????                                              21,000

Premises????                                               2,00,000

Depreciation provision up to

31st December , 1992:

furniture?????.                                                                                    10,000

motorcar?????                                                                                    6,000

premises?????                                                                                     5,000

salaries??????                                       35,000

printing & stationary???                              1,000

postage & telegrams???.                              1,500

motor car expenses???...                               4,500

investments in shares (at cost)                            15,000

dividends                                                                                                            1,500

audit fee                                                                750

directors fee                        &nbõnsx.øi5nbsp;                             1200

profit and loss account 31-12-1992?.                                                               26.000

cash at bank???????                             91.680

cash in hand???????                             1.870

TOTAL                                                              6, 78,500                                6, 78,500           

The following further particulars are available:

1. market value of shares as on 31st December 1993 Rs. 16,000.

2. depreciation to be provided on furniture at 10% motor car at 0%. Premises at 2.5%

3. provision to be made for :taxation Rs.70,000: proposed dividens at 15% you are reuired to draw up the:

(a) profit and loss account for the year 1993

(b) profit & loss appropriation account

(c) balance sheet as at December 1993

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