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The revaluation profit is ____ to the capital accounts of all partners.

Where a company is engaged in running multiple businesses, the operating cycle could be ___ for each line of business.

Raj Ltd. decided to bear the higher education cost of five brilliant students belonging to the weaker section of the society. Following is the Statement of Profit & Loss of Raj Ltd for the year ended 31-03-2018:

$\begin{array}{cc}\text{Particulars}& \text{Amount}\\ & \text{Rs}\\ \text{Income :}& \\ \text{Revenue from Operations}& 2,00,000\\ \text{Other Incomes}& 15,000\\ \text{Total Revenue}& \overline{\underset{–}{2,15,000}}\\ & \\ \text{Expenses:}& \\ \text{Cost of Materials Consumed}& 1,10,000\\ \text{Other Expenses}& 5,000\\ \text{Total Expenses}& \overline{1,15,000}\\ \text{Tax}& 40,000\end{array}$

You are required to :

(a) Prepare a common size Statement of Profit & Loss of Raj Ltd. for the year ended 31.03.2018.

(b) Identify the value involved.

What is goodwill? What
are the factors that effect goodwill?

Rina and Tina have the habit of saving a part of their pocket money in a common piggy bank. Their mom gave Rs. 30 each as pocket money. Rina bought chocolates worth Rs. 12.75 and saved the remaining in the piggy bank. Tina, being the studious girl bought a book worth Rs. 15. 50. The amount saved by the twins is Rs. ______.

Partner’s current accounts are transferred to respective Partners’ ___ Accounts.

Retirement and death of a partner is _________________.

On March 31, 2017 the balance in the capital accounts of Eluin, Monu and Ahmed, after making adjustments for profits, drawing, etc; were Rs 80,000, Rs 60,000 and Rs 40,000 respectively. Subsequently, it was discovered that interest on capital and interest on drawings had been omitted. The partners were entitled to interest on capital 5% p.a. The drawings during the year were Eluin Rs 20,000; Monu, Rs 15,000 and Ahmed, Rs 9,000. Interest on drawings chargeable to partners were Eluin Rs 500, Monu Rs 360 and Ahmed Rs 200. The net profit during the year amounted to Rs 1,20,000. The profit sharing ratio was 3 : 2 : 1. Pass necessary adjustment entries.

Following is the Balance Sheet of Prateek, Rockey and Kushal as on March 31,2007.

$\begin{array}{ccccccc}& & & & & & \\ & & & & \text{Balance Sheet}& & \\ \text{Dr}& & & & \text{as on March 31, 2007}& & \text{Cr}\end{array}\begin{array}{cccccc}\text{Capital and Liabilities}& & \text{Amt.(Rs)}& \text{Assets}& & \text{Amt.(Rs)}\\ \text{Sundry Creditors}& & \text{16,000}& \text{Bills Receivable}& & \text{16,000}\\ \text{General Reserve}& & \text{16,000}& \text{Furniture}& & \text{22,600}\\ \text{Capital Accounts}& & & \text{Stock}& & \text{20,400}\\ \text{Prateek}& \text{30,000}& & \text{Sundry Debtors}& & \text{22,000}\\ \text{Rockey}& \text{20,000}& & \text{Cash at Bank}& & \text{18,000}\\ \text{Kushal}& \underset{–}{20,000}& \text{70,000}& \text{Cash in Hand}& & \text{3,000}\\ & & \overline{\underset{–}{\underset{–}{1,02,000}}}& & & \overline{\underset{–}{\underset{–}{1,02,000}}}\end{array}$

Rockey died on June 30, 2007. Under the terms of the partnership deed, the executors of a deceased partner were entitled to

(a) Amount standing to the credit of the Partner's capital account.

(b) Interest on capital at 5% per annum.

(c) Share of goodwill on the basis of twice the average of the past three years' profit.

(d) Share of profit from the closing date of the last financial year to the date of death on the basis of last year's profit

Profits for the year ending on March 31, 2005, March 31, 2006 and March 31, 2007 were Rs.12,000, Rs. 16,000 and Rs.14,000 respectively. profits were shared in the ratio of capitals.

Pass the necessary journal entries and draw up Rockey's capital account to be rendered to his executor.

Which of the following is the base for common size balance sheet?

On receipt of application money, which account is credited ?

Sangeeta, Saroj and Shanti are partners sharing profit in the ratio of 2 : 3 : 5. Goodwill is appearing in the books at a value of Rs.60,000. Sangeeta retires and goodwill is valued at Rs.90,000. Saroj and Shanti decided to share future profits equally. Record necessary journal entries.

From the following
receipts and payments and information given below, Prepare Income and
Expenditure Account and opening Balance Sheet of Adult Literacy
Organisation as on December 31, 2006.

Information:

Share capital is shown on which side of balance sheet in company`s accounts?

The profits and losses for the last years are 2001-02. Loss Rs. 10,000; 2002-03 Loss Rs. 2,500; 2003-04 Profit Rs. 98,000 & 2004-05 Profit Rs. 76,000. The average capital employed in the business is Rs. 2,00,000. The rate of interest expected from capital invested is 12%. Calculate the value of goodwill on the basis of two years purchase of super profits based on the average of four years.

___________ are profits of the company that are agreed to be distributed to the shareholders of the company

Describe the steps for creating Sinking Fund for redemption of debentures.

From the following Balance Sheet and information of Sun Ltd., prepare Cash Flow Statement:

Find the maximum profit that a company can make, if the profit
function is given by

p(x) = 41 − 24x − 18x²

RR Ltd. decided to set up a manufacturing unit in the rural area of Jharkhand where people have few job opportunities. Prepare a comparative Balance Sheet of RR Ltd.

$\begin{array}{ccc}\text{Particulars}& \text{31st March, 2016}& \text{31st March,2017}\\ \text{Share Capital}& 2,00,000& 3,00,000\\ \text{Reserve and Surplus}& 50,000& 40,000\\ \text{Long Term Borrowings}& 4,20,000& 3,00,000\\ \text{Trade Payables}& 1,35,000& 1,50,000\\ \text{Tangible Assets}& 3,00,000& 2,00,000\\ \text{Inventory}& 3,00,000& 4,00,000\\ \text{Cash and Cash Equivalents}& 2,05,000& 1,90,000\end{array}$

How will you treat sale of old newspapers while preparing the final accounts of a non-profit organisation?

The matching concept means ____________.

Full form of NPO is

For admitting a new partner, what should be done with the profit sharing ratio?

On 1st April, 2018 , they admitted Z as a partner for 1/6th share on the following terms:

Why is there need for
the revaluation of assets and liabilities on the admission of a
partner?