Problem Relating to Managerial Remuneration

Following particulars are available from the books of Royal Ltd. :
Net profit before provision for income-tax and managerial remuneration, but after depreciation and - provision for repairs 98,04,000
Depreciation provided in the books 35,00,000
Provision for repairs of machinery during the year 2,50,000
Depreciation allowable under Schedule XIV of the Companies Act, 1956 30,00,000
Actual expenditure incurred on repairs during the year 1,60,000
You are required to calculate the managerial remuneration in the following cases:
(i)If there is one whole-time director; and
(ii)If there are two whole-time directors, a part-time director and a manager.
" India Accounting
1/13/2012 0:56:08 Resmi Redemption "Liabilities Rs Assets RS
10,000 Equity Share of Rs.10 each fully paid 100000 Fixed Assets 262000
Debtors 90,000
11% Preference Shares of Rs.100 each 1,00,000 Stock 30,000
Investments 30,000
Less: Calls-in-arrear @ Rs.20 per share 6000 Bank 4,000
10% Preference Shares of
Rs.10 each fully paid 100000
General Reserve 40,000
Profit & Loss Account 20,000
Securities Premium Account 5,000
Capital Reserve 30,000
Creditors 27,000
416000 416000

11% preference shares were due for payment on 1st April, 2008 at a
premium of 10%. The company sent the reminders for the final call on
the remaining 300-11% preference shares and could collect money from
shareholders holding 200 shares @ Rs.20 per share and forfeited the
defaulting 100 shares. The company sold all investments at 90% of the
cost of such investments. The Company issued adequate number of new
equity shares at par, to the extent that available profits were insufficient
to back-up the redemption
Resmi  from India


If you want to solve above problem, please use following comment box.
Share above Content to Your Friends


accounting Accounting Concepts Accounting Course Accounting Education accounting equation Accounting Solutions Algebra Answer the Questions and Become Master Balance Sheet bank Bodybuilding Education Business Business Education Business Environment Business Solutions CA Calculus cameras car Car Driving Course Career Solutions carpentry Class 10 Maths Class 9 Maths Computer Computer Basics Computer Hardware Computer Networking Computer Software Computer Solutions cooking education Corporate Accounting Corporate Law cost cost accounting CSE Dailymotion depreciation determinant drawing Driving Education e-accounting earn money Economics Education Education Education Solutions Electronics Email Events Examination Finance Education Finance Solutions financial Financial Accounting FIR Football Gambling Gambling Addiction Goldsmith Google Adsense GST Guest Writers Health Education Help History Home Building Home Maintenance amp; Repair Index Number India Indian Language Inspiration insurance internal audit Internet Internet Forum Jobs amp; Careers Journal journal entries journal entry Kenya Laptop Basics Law Education Law Solutions Learning Lecture Legal Education Linear algebra Linear Programming Malaysia Management Accounting Management Education Management Solutions Marketing Education Mathematics Education matrices Medical and Surgery Education Mobile motivation MS Excel Nepal Nigeria organisation Other Pakistan Personal Finance Philippines Photography Photoshop Software Picture Plumbing Education Probability Profiles provision real estate rectification Relationships amp; Family Religious Studies Result Sahas Saudi Arabia Science Education Self-Learning Skating Slideshow Solution Spiritual Education Sports Statistics Statistics Education stock Story svtuition Tablet Education Tally Tally Solutions Tally.ERP 9 tax Tax Solutions teaching Teaching Education Tech Simplify Test Testimonials Travel Trigonometry tuition TV Shows UK USA variance analysis VAT vector Video Video on Demand videos Vocational Education Web design website Welding Skills Wife Window Movie Maker Wordpress working capital Youth youtube
Svtuition: Problem Relating to Managerial Remuneration
Problem Relating to Managerial Remuneration
Not found any lecture VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES Lectures View All RECOMMENDED FOR YOU Category ARCHIVE SEARCH ALL Lectures Not found any lecture match with your request, please help to write it and send it to our email at for making this website free accounting and finance encyclopedia. Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock