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Consider the following information pertaining to E Ltd.
On September 4, 2005, the company issued 12,000 7% Debentures having a face value of Rs. 100 each at a discount of 2.5%. on September 12, the company issued 25,000, 8% Preference share of Rs. 100 each. On September 29, the company redeemed 30,000, 6% Preference shares of Rs. 100 each at a premium of 5% together with one month dividend thereon. Bank balance as on August 31, 2005 was Rs. 29,25,000.
After effecting the above transactions, the Bank balance as on September 30, 2005 =?
On September 4, 2005, the company issued 12,000 7% Debentures having a face value of Rs. 100 each at a discount of 2.5%. on September 12, the company issued 25,000, 8% Preference share of Rs. 100 each. On September 29, the company redeemed 30,000, 6% Preference shares of Rs. 100 each at a premium of 5% together with one month dividend thereon. Bank balance as on August 31, 2005 was Rs. 29,25,000.
After effecting the above transactions, the Bank balance as on September 30, 2005 =?
- a)Rs. 33,15,000
- b)Rs. 33,30,000
- c)Rs. 33,45,000
- d)Rs. 34,30,000
Correct answer is option 'D'. Can you explain this answer?
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Consider the following information pertaining to E Ltd.On September 4,...
Calculation of Bank Balance as on September 30, 2005
Issuance of 7% Debentures:
- Face value of debentures = 12,000 x Rs. 100 = Rs. 12,00,000
- Discount on debentures = 2.5% of Rs. 12,00,000 = Rs. 30,000
- Cash received = Rs. 11,70,000 (Rs. 12,00,000 - Rs. 30,000)
Issuance of 8% Preference Shares:
- Face value of preference shares = 25,000 x Rs. 100 = Rs. 25,00,000
- Cash received = Rs. 25,00,000
Redemption of 6% Preference Shares:
- Face value of preference shares redeemed = 30,000 x Rs. 100 = Rs. 30,00,000
- Premium on redemption = 5% of Rs. 30,00,000 = Rs. 1,50,000
- One month dividend on redeemed shares = 1/12 x 6% x Rs. 30,00,000 = Rs. 15,000
- Cash paid = Rs. 31,65,000 (Rs. 30,00,000 + Rs. 1,50,000 + Rs. 15,000)
Bank Balance as on September 30, 2005:
- Opening bank balance = Rs. 29,25,000
- Cash received from issuance of debentures = Rs. 11,70,000
- Cash received from issuance of preference shares = Rs. 25,00,000
- Cash paid for redemption of preference shares = Rs. 31,65,000
- Bank balance as on September 30, 2005 = Rs. 34,30,000 (Rs. 29,25,000 + Rs. 11,70,000 + Rs. 25,00,000 - Rs. 31,65,000)
Therefore, the correct answer is option 'D' Rs. 34,30,000.
Issuance of 7% Debentures:
- Face value of debentures = 12,000 x Rs. 100 = Rs. 12,00,000
- Discount on debentures = 2.5% of Rs. 12,00,000 = Rs. 30,000
- Cash received = Rs. 11,70,000 (Rs. 12,00,000 - Rs. 30,000)
Issuance of 8% Preference Shares:
- Face value of preference shares = 25,000 x Rs. 100 = Rs. 25,00,000
- Cash received = Rs. 25,00,000
Redemption of 6% Preference Shares:
- Face value of preference shares redeemed = 30,000 x Rs. 100 = Rs. 30,00,000
- Premium on redemption = 5% of Rs. 30,00,000 = Rs. 1,50,000
- One month dividend on redeemed shares = 1/12 x 6% x Rs. 30,00,000 = Rs. 15,000
- Cash paid = Rs. 31,65,000 (Rs. 30,00,000 + Rs. 1,50,000 + Rs. 15,000)
Bank Balance as on September 30, 2005:
- Opening bank balance = Rs. 29,25,000
- Cash received from issuance of debentures = Rs. 11,70,000
- Cash received from issuance of preference shares = Rs. 25,00,000
- Cash paid for redemption of preference shares = Rs. 31,65,000
- Bank balance as on September 30, 2005 = Rs. 34,30,000 (Rs. 29,25,000 + Rs. 11,70,000 + Rs. 25,00,000 - Rs. 31,65,000)
Therefore, the correct answer is option 'D' Rs. 34,30,000.
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Consider the following information pertaining to E Ltd.On September 4, 2005, the company issued 12,000 7% Debentures having a face value of Rs. 100 each at a discount of 2.5%. on September 12, the company issued 25,000, 8% Preference share of Rs. 100 each. On September 29, the company redeemed 30,000, 6% Preference shares of Rs. 100 each at a premium of 5% together with one month dividend thereon. Bank balance as on August 31, 2005 was Rs. 29,25,000.After effecting the above transactions, the Bank balance as on September 30, 2005 =?a)Rs. 33,15,000b)Rs. 33,30,000c)Rs. 33,45,000d)Rs. 34,30,000Correct answer is option 'D'. Can you explain this answer?
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Consider the following information pertaining to E Ltd.On September 4, 2005, the company issued 12,000 7% Debentures having a face value of Rs. 100 each at a discount of 2.5%. on September 12, the company issued 25,000, 8% Preference share of Rs. 100 each. On September 29, the company redeemed 30,000, 6% Preference shares of Rs. 100 each at a premium of 5% together with one month dividend thereon. Bank balance as on August 31, 2005 was Rs. 29,25,000.After effecting the above transactions, the Bank balance as on September 30, 2005 =?a)Rs. 33,15,000b)Rs. 33,30,000c)Rs. 33,45,000d)Rs. 34,30,000Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Consider the following information pertaining to E Ltd.On September 4, 2005, the company issued 12,000 7% Debentures having a face value of Rs. 100 each at a discount of 2.5%. on September 12, the company issued 25,000, 8% Preference share of Rs. 100 each. On September 29, the company redeemed 30,000, 6% Preference shares of Rs. 100 each at a premium of 5% together with one month dividend thereon. Bank balance as on August 31, 2005 was Rs. 29,25,000.After effecting the above transactions, the Bank balance as on September 30, 2005 =?a)Rs. 33,15,000b)Rs. 33,30,000c)Rs. 33,45,000d)Rs. 34,30,000Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following information pertaining to E Ltd.On September 4, 2005, the company issued 12,000 7% Debentures having a face value of Rs. 100 each at a discount of 2.5%. on September 12, the company issued 25,000, 8% Preference share of Rs. 100 each. On September 29, the company redeemed 30,000, 6% Preference shares of Rs. 100 each at a premium of 5% together with one month dividend thereon. Bank balance as on August 31, 2005 was Rs. 29,25,000.After effecting the above transactions, the Bank balance as on September 30, 2005 =?a)Rs. 33,15,000b)Rs. 33,30,000c)Rs. 33,45,000d)Rs. 34,30,000Correct answer is option 'D'. Can you explain this answer?.
Consider the following information pertaining to E Ltd.On September 4, 2005, the company issued 12,000 7% Debentures having a face value of Rs. 100 each at a discount of 2.5%. on September 12, the company issued 25,000, 8% Preference share of Rs. 100 each. On September 29, the company redeemed 30,000, 6% Preference shares of Rs. 100 each at a premium of 5% together with one month dividend thereon. Bank balance as on August 31, 2005 was Rs. 29,25,000.After effecting the above transactions, the Bank balance as on September 30, 2005 =?a)Rs. 33,15,000b)Rs. 33,30,000c)Rs. 33,45,000d)Rs. 34,30,000Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Consider the following information pertaining to E Ltd.On September 4, 2005, the company issued 12,000 7% Debentures having a face value of Rs. 100 each at a discount of 2.5%. on September 12, the company issued 25,000, 8% Preference share of Rs. 100 each. On September 29, the company redeemed 30,000, 6% Preference shares of Rs. 100 each at a premium of 5% together with one month dividend thereon. Bank balance as on August 31, 2005 was Rs. 29,25,000.After effecting the above transactions, the Bank balance as on September 30, 2005 =?a)Rs. 33,15,000b)Rs. 33,30,000c)Rs. 33,45,000d)Rs. 34,30,000Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following information pertaining to E Ltd.On September 4, 2005, the company issued 12,000 7% Debentures having a face value of Rs. 100 each at a discount of 2.5%. on September 12, the company issued 25,000, 8% Preference share of Rs. 100 each. On September 29, the company redeemed 30,000, 6% Preference shares of Rs. 100 each at a premium of 5% together with one month dividend thereon. Bank balance as on August 31, 2005 was Rs. 29,25,000.After effecting the above transactions, the Bank balance as on September 30, 2005 =?a)Rs. 33,15,000b)Rs. 33,30,000c)Rs. 33,45,000d)Rs. 34,30,000Correct answer is option 'D'. Can you explain this answer?.
Solutions for Consider the following information pertaining to E Ltd.On September 4, 2005, the company issued 12,000 7% Debentures having a face value of Rs. 100 each at a discount of 2.5%. on September 12, the company issued 25,000, 8% Preference share of Rs. 100 each. On September 29, the company redeemed 30,000, 6% Preference shares of Rs. 100 each at a premium of 5% together with one month dividend thereon. Bank balance as on August 31, 2005 was Rs. 29,25,000.After effecting the above transactions, the Bank balance as on September 30, 2005 =?a)Rs. 33,15,000b)Rs. 33,30,000c)Rs. 33,45,000d)Rs. 34,30,000Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
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Here you can find the meaning of Consider the following information pertaining to E Ltd.On September 4, 2005, the company issued 12,000 7% Debentures having a face value of Rs. 100 each at a discount of 2.5%. on September 12, the company issued 25,000, 8% Preference share of Rs. 100 each. On September 29, the company redeemed 30,000, 6% Preference shares of Rs. 100 each at a premium of 5% together with one month dividend thereon. Bank balance as on August 31, 2005 was Rs. 29,25,000.After effecting the above transactions, the Bank balance as on September 30, 2005 =?a)Rs. 33,15,000b)Rs. 33,30,000c)Rs. 33,45,000d)Rs. 34,30,000Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Consider the following information pertaining to E Ltd.On September 4, 2005, the company issued 12,000 7% Debentures having a face value of Rs. 100 each at a discount of 2.5%. on September 12, the company issued 25,000, 8% Preference share of Rs. 100 each. On September 29, the company redeemed 30,000, 6% Preference shares of Rs. 100 each at a premium of 5% together with one month dividend thereon. Bank balance as on August 31, 2005 was Rs. 29,25,000.After effecting the above transactions, the Bank balance as on September 30, 2005 =?a)Rs. 33,15,000b)Rs. 33,30,000c)Rs. 33,45,000d)Rs. 34,30,000Correct answer is option 'D'. Can you explain this answer?, a detailed solution for Consider the following information pertaining to E Ltd.On September 4, 2005, the company issued 12,000 7% Debentures having a face value of Rs. 100 each at a discount of 2.5%. on September 12, the company issued 25,000, 8% Preference share of Rs. 100 each. On September 29, the company redeemed 30,000, 6% Preference shares of Rs. 100 each at a premium of 5% together with one month dividend thereon. Bank balance as on August 31, 2005 was Rs. 29,25,000.After effecting the above transactions, the Bank balance as on September 30, 2005 =?a)Rs. 33,15,000b)Rs. 33,30,000c)Rs. 33,45,000d)Rs. 34,30,000Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of Consider the following information pertaining to E Ltd.On September 4, 2005, the company issued 12,000 7% Debentures having a face value of Rs. 100 each at a discount of 2.5%. on September 12, the company issued 25,000, 8% Preference share of Rs. 100 each. On September 29, the company redeemed 30,000, 6% Preference shares of Rs. 100 each at a premium of 5% together with one month dividend thereon. Bank balance as on August 31, 2005 was Rs. 29,25,000.After effecting the above transactions, the Bank balance as on September 30, 2005 =?a)Rs. 33,15,000b)Rs. 33,30,000c)Rs. 33,45,000d)Rs. 34,30,000Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Consider the following information pertaining to E Ltd.On September 4, 2005, the company issued 12,000 7% Debentures having a face value of Rs. 100 each at a discount of 2.5%. on September 12, the company issued 25,000, 8% Preference share of Rs. 100 each. On September 29, the company redeemed 30,000, 6% Preference shares of Rs. 100 each at a premium of 5% together with one month dividend thereon. Bank balance as on August 31, 2005 was Rs. 29,25,000.After effecting the above transactions, the Bank balance as on September 30, 2005 =?a)Rs. 33,15,000b)Rs. 33,30,000c)Rs. 33,45,000d)Rs. 34,30,000Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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