Raghav Rathore carried out the following transactions in connection with his investments during the year ended 31
Question:
Raghav Rathore carried out the following transactions in connection with his investments during the year ended 31 March, 2016:
You are required to record the above transactions in the Ledger of Rathore. Maintain separate account for each category of investment. Ignore tax and brokerage charges. Rathore’s accounting year ends on 31 March.
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2014 April 15 June 1 Purchased 4,00,000, 12% convertible debentures in Salora Ltd at 125.50. Interest is payable on 15 September and 15 March. The debentures are convertible into equity shares of 10 each at the rate of 20 for each equity share. 2016 January 10 March 15 Purchased 10,00,000, 12% debentures in Sumana Ltd for 11,00,000. Interest is due for payment on 1 October and 1 April. June 15 August 25 Received 20% dividend on the equity shares in Salora Ltd. December 15 Salora Ltd made a rights issue of one equity share for every 20 shares held at 16 per share. The market value of shares was * 20. Converted the debentures in Salora Ltd into equity shares. On this date, the market price of the shares was 20. The accrued interest to date was paid. Rathore sold the right for 3 per share. Sold 4,000 equity shares in Salora Ltd at * 25 per share.
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Corporate Accounting As Per The Companies Act 2013 Including Rules 2014 And 2015
ISBN: 9789352605569
2nd Edition
Authors: M Hanif, A Mukherjee
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