What is meant by ‘Profitability of Business’? Post category:Accountancy Reading time:1 mins read SOLUTION ‘Profitability of Business’ refers to the earning capacity of the business. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostWhat is Working Capital? Next PostWhat is meant by Profitability Ratios? You Might Also Like X Ltd. forfeited 100 shares of Rs. 10 each (Rs. 8 called-up) issued at a premium of Rs. 2 per share to Mr. R, on which he had paid applications money of Rs. 5 per share, for non-payment of allotment money of Rs. 5 per share (including premium). Out of these, 70 shares were reissued to Mr. Sanjay as Rs. 8 called-up for Rs. 7 per share. Give necessary journal entries relating to forfeiture and reissue of shares. July 15, 2022 In case Operating Cycle cannot be determined, what is the time period of operating cycle assumed? September 30, 2022 Give necessary journal entries:(i) The Directors of Devendra Ltd. resolved on 1st January, 2010 that Equity Shares of Rs. 10 each, Rs. 8 paid-up be forfeited for non-payment of final call of Rs. 2. On 1st February, 60 of these shares were reissued @ Rs. 7 per share as fully paid-up.(ii) Virender Limited forfeited 20 shares of Rs. 100 each (Rs. 60 called-up) issued at par to Mukesh on which he had paid Rs. 20 per share. Out of these, 15 shares were reissued to Sanjeev as Rs. 60 paid-up for Rs. 45 per share. July 14, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
X Ltd. forfeited 100 shares of Rs. 10 each (Rs. 8 called-up) issued at a premium of Rs. 2 per share to Mr. R, on which he had paid applications money of Rs. 5 per share, for non-payment of allotment money of Rs. 5 per share (including premium). Out of these, 70 shares were reissued to Mr. Sanjay as Rs. 8 called-up for Rs. 7 per share. Give necessary journal entries relating to forfeiture and reissue of shares. July 15, 2022
In case Operating Cycle cannot be determined, what is the time period of operating cycle assumed? September 30, 2022
Give necessary journal entries:(i) The Directors of Devendra Ltd. resolved on 1st January, 2010 that Equity Shares of Rs. 10 each, Rs. 8 paid-up be forfeited for non-payment of final call of Rs. 2. On 1st February, 60 of these shares were reissued @ Rs. 7 per share as fully paid-up.(ii) Virender Limited forfeited 20 shares of Rs. 100 each (Rs. 60 called-up) issued at par to Mukesh on which he had paid Rs. 20 per share. Out of these, 15 shares were reissued to Sanjeev as Rs. 60 paid-up for Rs. 45 per share. July 14, 2022