Following is the Profit and Loss Account of Erick Ltd. for the year ended 31st March, 2023: Amount (₹) Income: Gross Profit26,20,500 Profit on Sale of Land1,20,000 Subsidy received from State Government3,00,000 Total30,40,500 Expenses: Administrative and Selling Expenses58,500 Salaries and Wages5,80,000 Director's Fees32,000 Development Rebate Reserve15,000 Depreciation4,80,000 Managerial Remuneration1,25,000 Income Tax2,40,000 Interest on Debentures90,000 Total16,20,500 Net Profit c/f14,20,000 Total30,40,500 Additional Information: (i) Administrative and selling expenses include the cost of construction of new office building amounting to ₹8,000. (ii) Depreciation as per Companies Act, 2013 was ₹3,95,000. You are required to calculate the maximum limits of the managerial remuneration as per Companies Act, 2013.

Z Ltd. decides to increase its existing share capital by making right issue to its existing shareholders. The company is offering 2 new shares for every 5 existing shares held by the shareholders. The market value of shares is ₹420 per share. Company is offering each share at ₹245 per share. Calculate the value of right and the ex-right market price of a share.

List down the applicable criteria under the companies (Accounting Standards) Rule, 2021, to classify a company as Small and Medium Sized Company (SMC).

Vision Ltd. was incorporated on 1st June, 2022 to take over the running business of Dwar Brothers with effect from 1st April 2022. The following information for the year ended 31st March, 2023 is provided: Amount (₹) Gross Profit32,63,000 Expenses: Rent, Rates and Taxes6,72,000 General expenses10,96,000 Carriage outward1,92,400 Share issue expenses55,000 Additional information: • Monthly sales from 1st April, 2022 to 30th September, 2022 were evenly spread and monthly sales thereafter increased by two third during rest of the year. • General expenses include ₹1,96,000 towards sales promotion. • All investments were sold on 15th June, 2022 at a profit of ₹63,000. Profit on the sale of investment was inadvertently included in gross profit. You are required to: (i) Calculate the time ratio and the sales ratio. (ii) Prepare a Statement ascertaining Pre-incorporation and Post-Incorporation Profits/Losses for the year ending 31-03-2023.