10. A Ltd. had 1,50,000 shares of common stock outstanding on 1 April, 2023. Additional 50,000 shares were issued on 1 November, 2023 and 32,000 shares were bought back on 1 February, 2024. Calculate the weighted average number of shares outstanding at the year ended on 31 March, 2024 is:
Options
A1,34,500 shares
B1,65,500 shares
C1,76,167 shares
D1,23,833 shares
Case Scenario 3
Jay Ltd. submits the following data extracted from the Final Accounts as on 31
March, 2023:
Equity Share Capital
Equity shares of ` 10 each
50,000
Profit & Loss (Dr. balance)
(50,000)
9% Debentures
2,00,000
Loan from Bank
3,00,000
Advance given to suppliers of goods
45,000
Provision for tax
14,000
Plant & Machinery
4,50,000
Furniture & Fixtures
85,000
Investment in Star Ltd.
10,000 equity shares of 10 each
1,25,000
Sundry Debtors
70,000
Cash & Bank Balance
65,500
Additional information given by Jay Ltd.:
On 31 March, 2023 Jay Ltd. decided to reconstruct the company for which
necessary resolution was passed. Accordingly, it was decided that:
(a)
9% Debentures to be settled in full by issuing them 15,000 Equity shares of
10 each.
(b)
Equity shareholders will give up 40% of their capital in exchange for
allotment of new 11% Debentures of ` 1,00,000.
(c)
Balance of Profit & Loss to be written off.
(d)
Equity shares issued for ` 1,00,000.
In addition to above, following information was also presented by Jay Ltd. on 1st
April, 2023:
(a)
Interest is received on advances given to suppliers of goods` 3,000.
(b)
Taxation liability is settled at ` 14,000.
(c)
A debtor of ` 40,000 is insolvent, only 40% of his dues are recovered from
his estate.
(d)
Dividend is received on Investment in Star Ltd. ` 1 per equity share invested.
(e)
Part of Plant and Machinery is sold at a loss of` 3,000 (book value
` 15,000)
Based on the information given in above Case Scenario, answer the following
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