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Which of the following capital can be increased or decreased as per the procedure laid down in the Companies Act.

Distinguish between
Receipts and Payments Account and Income and Expenditure Account.

Ram & Mohan withdrew for private use Rs. 1,20,000 & Rs. 80,000 respectively Interest is chargeable 6% p.a. on drawings. What is the total interest?

If all the partners, but one are insolvent it is __________

(a) From the following calculate 'Trade Receivables Turnover Ratio'.

Total Revenue from operation for year Rs 8,40,000.

Cash Revenue from operation-40% of credit revenue from operation.

Closing Trade Receivable over Opening Trade Receivable by Rs 80,000. Opening Trade Receivables in 20% of credit Revenue from operation.

(b) From the following, calculate Interest Coverage Ratio.

Profit after Interest and Tax Rs 4,97,000.

Rate of Income Tax 30%.

12% Debentures Rs 6,00,000.

A company forfeited 100 shares of Rs 10 each, Rs 7.50 per share called up on which Rs 5 per share had been paid. Directors decided to re-issue all the forfeited shares to B as Rs 7.50 paid up for Rs 7 each. Pass the necessary Journal entries.

Usama Ali Khan Company experienced the following at end of year, December 2017:

Required: Calculate the Net Cash Flow From Financing Activities.

Retiring Partner's share of goodwill is debited to remaining partners in their:

Digvijay, Brijesh and Parakaram were partners in a firm sharing profits in the ratio of 2 : 2 : 1. Their Balance Sheet as on March 31, 2007 was as follows

$\begin{array}{ccccc}\text{Capital and Liabilites}& & \text{Amt.(Rs)}& \text{Assets}& \text{Amt.(Rs)}\\ \text{Creditors}& & \text{49,000}& \text{Cash}& \text{8,000}\\ \text{Reserves}& & \text{18,500}& \text{Debtors}& \text{19,000}\\ \text{Digvijay's Capital}& & \text{82,000}& \text{Stock}& \text{42,000}\\ \text{Brijesh's Capital}& & \text{60,000}& \text{Buildings}& \text{2,07,000}\\ \text{Parakaram's Capital}& & \text{75,500}& \text{Patents}& \text{9,000}\\ & & \underset{–}{\underset{–}{\overline{2,85,000}}}& & \underset{–}{\underset{–}{\overline{2,85,000}}}\end{array}$

Brijesh retired on March 31, 2007 on the following terms

(i) Goodwill of the firm was valued at Rs. 70,000 and was not to appear in the books.

(ii) Bad debts amounting to Rs. 2,000 were to be written off.

(iii) Patents were considered as valueless.

Prepare revaluation account, partners' capital accounts and the balance sheet of Digvijay and Parakaram after Brijesh's retirement.

Examine the nature of relationship between entrepreneurship and economic development.

A, B and C are partners sharing profits and losses in the ratio of 3 : 2 : 1. With effect from 1st April, 2015, it was decided to change the profit sharing ratio to 4 : 3 : 2. Goodwill already appearing in the books as Rs 40,000. Goodwill is to be valued at 2 years' purchase of average of 3 years profit. The profits were Rs 95,000, Rs 85,000 and Rs 90,000. Pass necessary journal entry for goodwill without opening goodwill account assuming that the firm adopted fixed capital method.

If a fixed amount is withdrawn on the last day of every month, the interest on the total amount of drawings shall be calculated for:

Subscription received during the year Rs. 1,80,000; Subscriptions outstanding at the end of the year Rs. 20,000; Subscriptions received in advance at the end of the year Rs. 10,000. Subscription outstanding at the end also includes 2,000 pertaining to previous year. The amount of subscription to be credited to Income and Expenditure A/c will be-

Refer the data in the table below:

$\begin{array}{ccc}\text{Particulars}& 2004-05& 2005-06\\ \text{Shareholders' funds}& 10,00,000& 10,00,000\\ \text{Trade payables}& 2,40,000& 1,80,000\\ \text{Short term debt}& 8,00,000& 6,00,000\\ \text{Long term debt}& 9,02,000& 7,74,000\\ & 29,42,000& 25,54,000\\ \text{Fixed Assets}& 26,20,000& 22,50,000\\ \text{Trade Receivables}& 2,50,000& 2,75,000\\ \text{Cash}& 72,000& 29,000\\ & 29,42,000& 25,54,000\end{array}$

Calculate the absolute change in Shareholders' Funds ?

Interest on the loan is _______________

Arti and Bharti are partners in a firm sharing profits in 3:2 ratio,
They admitted Sarthi for 1/4 share in the profits of the firm. Sarthi
brings Rs. 50,000 for his capital and Rs. 10,000 for his 1/4 share of
goodwill. Goodwill already appears in the books of Arti and Bharti at
Rs. 5,000. the new profit sharing ratio between Arti, Bharti and
Sarthi will be 2:1:1. Record the necessary journal entries in the
books of the new firm?

Under this method of calculating goodwill, we calculate the super profits and then assess the capital needed for earning such super profits on the basis of normal rate of return. This method is___

Which ratio shows the proportion of equity and debt a company is using to finance its assets and the extent to which shareholder's equity can fulfill obligations to creditors in the event of a business decline?

The following particulars are extracted from the Balance Sheet of Goodwill Enterprises Ltd. as at 31st March, 2018 :

$\begin{array}{cc}\text{Particulars}& \text{Rs.}\\ \text{Equity Share Capital}& \text{3,00,000}\\ \text{10 \% Preference Share Capital}& \text{1,20,000}\\ \text{Capital Reserve}& \text{60,000}\\ \text{Profit \& Loss Balance}& \text{1,20,000}\\ \text{12 \% Debentures}& \text{50,000}\\ \text{10 \% Mortgage Loan}& \text{1,50,000}\\ \text{Current Liabilities}& \text{2,80,000}\\ \text{Non Current Assets}& \text{4,80,000}\\ \text{Current Assets}& \text{6,00,000}\end{array}$

Showing the full working, calculate the following ratios :

(i) Debt-Equity Ratio

(ii) Proprietary Ratio

(iii) Interest Coverage Ratio

Net Profit after interest and tax amounted to Rs. 63,000

Rate of Income Tax was 50%

Which of the following statements are true?

Subscription received by a school for organising annual function is treated as :

List the
items which may be debited or credited in the capital accounts of the
partners when:

(i) Capitals are fixed

(ii) Capitals are fluctuating

It is a statement which shows the comparison of the total income earned and expenses incurred during two or more accounting periods.