Practice question
Question
From the following information, compute Proprietary Ratio:
Equity share capital - 20,00,000
10% Preference share capital - 20,00,000
Reserves & surplus - 11,00,000
Fictitious Assets - 1,00,000
Fixed Assets - 55,00,000
Stock - 1,75,000
Debtors - 3,50,000
Bills receivable - 50,000
Cash - 2,25,000.
Explanation
0.79 ∶ 1 company accounts correct; share issue forfeiture pro-rata per Companies Act.
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