VRS Ltd. started its business on 1 April 2007. On 31 March 2010, its balance sheet in a summarized from was as follows:
|
Liabilities |
Rs. | Rs. | |
|
Assets |
|||
|
Share Capital |
3,00,000 |
Fixed Assets (Less |
9,00,000 |
|
3,000, 10% |
Depreciation) |
||
|
Preference |
Current Assets |
12,00,000 |
|
|
Shares of Rs. 100 |
Preliminary |
15,000 |
|
|
Each, Fully Paid |
Expenses |
||
|
90,000 Equity |
9,00,000 |
||
|
Shares of Rs. 10 |
|||
|
Each Fully Paid |
|||
|
Capital Reserve |
7,500 |
||
|
P&L A/c |
1,65,000 |
||
|
13% Debentures |
1,50,000 |
||
|
Sundry Creditors |
5,40,000 |
||
|
Provision for |
51,500 |
||
|
Income Tax |
|||
|
21,15,000 |
21,15,000 |
The company is yet to declare its main dividend on 31 March 2010. The fixed assets are revalued at Rs.9,60,000. You are required to calculate the value of two classes of shares.