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DG Ltd Purchased assets of Rs 2,50,000 from VG Ltd . DG Ltd issued equity shares of Rs 50 each fully paid in consideration. Which of the following is true ?

Whenever securities premium is not received and the shares are forfeited, what will be the treatment to Securities Premium A/c?

Following is the
Receipt and Payment account of Rohatgi Trust :

Prepare Income and
expenditure account for the year ended December 31, 2006, and a
balance sheet as on that date after the following adjustments:
Subscription for 2006, still owing were Rs 7,000. Interest due on
defence

bonds was Rs7,000, Rent
still owing was Rs 1,000. The Book value of investment sold was Rs
80,000, Rs 30,000 of the investment were still in hand. Subscription
received in 2006 included Rs 400 from a life member. The total
furniture on January 1, 2006 was worth Rs 12,000. Salary paid for the
year 2007 is Rs 2,000.

Amit, Sumit, and Punit share profit and losses in the ratio of 2:3:1, respectively. Amit retires and the remaining partners decide to take Amit’s share equally. Calculate the new ratio.

Leela and Meeta were partners in a firm sharing profits and losses in the ratio of 5:3. On Is Jan. 2017 they admitted Om as a new partner. On the date of Om’s admission the balance sheet of Leela and Meeta showed a balance of Rs 16,000 in general reserve and Rs 24,000 (Cr) in Profit and Loss Account. Record necessary journal entries for the treatment of these items on Om’s admission. The new profit sharing ratio between Leela, Meeta and Om was 5:3:2.

Mathew invested 30000 rupees and Stephen, 50000 rupees to start a business. In one month they made a profit of 2400 rupees. Mathew took 900 rupees and Stephen took 1500 rupees as their shares of the profit. What is the ratio of their investments? What is the ratio of their shares of the profit? Are the shares proportional to the investments?

Describe
how debits and credits are used to analyse transactions.

State clearly the conditions under which a company can issue shares at a discount.

Pro-rata allotment is done in case of-

In case of death of partner, interest on drawings is charged up to the ____________

Handa Limited has stock of Rs. 20,000. Total liquid assets are Rs. 1,00,000 and quick ratio is 2 : 1, Calculate current ratio.

_______ expresses relationship of proprietor’s (shareholders) funds to total assets.

On dissolution of the firm, partner’s capital accounts are closed through _________

State the meaning of 'Debentures issued as a Collateral Security'.

Calculate Cash Flow from Investing Activities from the following information:
$$\begin{array}{ccc}\text{Particulars}& \text{31st March,}& \text{31st March,}\\ & 2015& 2014\\ \text{Investment in shares of Miko. Ltd.}& 18,00,000& 8,00,000\\ 12\%\text{Long Term Investments}& 1,50,000& 5,00,000\\ \text{Plant and Machinery}& 6,00,000& 4,00,000\\ \text{Goodwill}& 1,20,000& 40,000\end{array}$$
Additional Information:

(i) 9% dividend was received from Miko Ltd.
(ii) A machine costing Rs. 50,000 (depreciation provided thereon Rs. 15,000) was sold for Rs. 40,000. Depreciation charged during the year was Rs. 55,000.

A, B and C are partners sharing profits in 2:2:1 ratio admitted D for
1/8 share which he acquired entirely from A. Calculate new profit
sharing ratio?

Meeta purchased a book of Rs 375 and took the cash memo. Later, she found that the original price of a book is Rs 275, but the local bookseller had put a sticker of Rs 375. What actions can be taken by her in this case?

Ramesh and Suresh were partners in a firm sharing profits in the ratio of their capitals contributed on commencement business which were Rs 80,000 and Rs 60,000 respectively. The firm started business on April 1, 2005. According to the partnership agreement, interest on capital and drawings are 12% and 10% pa respectively. Ramesh and Suresh are to get a monthly salary of Rs 2,000 and Rs 3,000 respectively.

The profits for year ended March 31, 2006 before making above appropriations was Rs 1,00,300. The drawings of Ramesh and Suresh were Rs 40,000 and Rs 50,000 respectively. Interest on amounted to Rs 2,000 for Ramesh and Rs 2,500 for Suresh. Prepare profit and loss appropriation account and partners' capital accounts, assuming that their capitals are fluctuating.

X and Y are partners sharing profits in 5:3 ratio admitted Z for 1/10
share which he acquired equally for X and Y. Calculate new profit
sharing ratio?

From the following, calculate operating profit ratio:

Operating cost is Rs. 1,75,000 and Revenue from Operations is Rs. 3,85,000.

Land and Building (book value) Rs. 1,60,000 sold for Rs. 3,00,000 through a broker who charged 2% commission on the deal. Journalise the transaction, at the time of dissolution of the firm.

A and B are partners sharing profits in the ratio of 3:2. They admit C with 1/8 share in the profits. The new profit sharing ratio between Aand B is 4:3. The new profit sharing ratio and sacrificing ratio will be:

___________________ account is prepared to find out the net effect of realisation on various assets and payment of various liabilities in case of dissolution of firm.

Can a partner be admitted into the partnership firm with the consent of majority partners?

An honorarium of Rs. 5,000 has been paid by the club. Where will it be shown in the financial statement of NPO?

What do you understand by analysis and interpretation of financial statements? Discuss its importance.

The receipts and payments account is the summary of cash and bank transactions which helps in the preparation of ___

While calculating Gross Profit, if net profit is given,___

The balancing figure at the end of receipts & payments account is ___

Securities Premium Reserve Account is debited by the amount of premium that has not been received on forfeited shares. Is it correct and why?

From the following information of Astha Ltd. for the year ended 31st March 2015, prepare Notes to Accounts on Employee Benefit Expenses:

(i) Wages Rs. 5,20,000

(ii) Medical Expenses Rs. 30,000

(iii) Salaries Rs. 7,40,000

(iv) Printing and Stationery Rs. 15,000

(v) Business Promotion Expenses Rs. 50,000

(vi) Gratuity Paid Rs. 1,50,000

(vii) Contribution to Provident Fund Rs. 1,10,000