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If the business becomes illegal & firm is dissolved, it is known as ___

From the following Balance Sheet of Global Ltd., you are required to calculate Return on Investment for the year 2018-19:

Additional Information: Net Profit before Tax for the year 2018-19 is rs 9,72,000.

Ram, Raj and George are partners sharing profits in the ratio 5 : 3 : 2. According to the partnership agreement George is to get a minimum amount of Rs 10,000 as his share of profits every year. The net profit for the year 2013 amounted to Rs 40,000. Prepare the Profit and Loss Appropriation Account.

What is meant by the cost of equity?

Himanshu withdrews Rs 2,500 at the end Month of each month. The Partnership deed provides for charging the interest on drawings 12% p.a. Calculate interest on Himanshu’s drawings for the year ending 31st December, 2017.

What made the lawyer stand out from the others at Gemini Studios?

On March 31, 2017 after the close of accounts, the capitals of Mountain, Hill and Rock stood in the books of the firm at Rs 4,00,000, Rs 3,00,000 and Rs 2,00,000, respectively. Subsequently, it was discovered that the interest on capital 10% p.a. had been omitted. The profit for the year amounted to Rs 1,50,000 and the partner’s drawings had been Mountain: Rs 20,000, Hill Rs 15,000 and Rock Rs 10,000. Calculate interest on capital.

The net profit for the year 31.3.2018 is Rs. 1,35,000 Trade Payables and Trade Receivables for 31.3.2018 is Rs. 70,000 and Rs. 31,000 respectively and Trade Payables and Trade Receivables for 31.3.2017 is Rs. 50,000 and Rs. 21,000. What is the cash flow from operating activities?

Ajanta Company Limited having a normal capital of Rs 3,00,000, divided into shares of Rs 10 each offered for public subscription of 20,000 shares payable at Rs 2 on application; Rs 3 on allotment and the balance in two calls of Rs 2.50 each. Applications were received by the company for 24,000 shares. Applications for 20,000 shares were accepted in full and the shares allotted. Applications for the remaining shares were rejected and the application money was refunded.

All moneys due were received with the exception of the final call on 600 shares which were forfeited after legal formalities were fulfilled. 400 shares of the forfeited shares were reissued at Rs 9 per share.

Record necessary journal entries and prepare the balance Sheet showing the amount transferred to capital reserve and the balance in Share forfeiture account.

From the following information, calculate Operating Ratio and Quick Ratio.

Revenue from operations Rs 3,00,000; Opening Inventory Rs 10,000; Purchases Rs 1,20,000; Wages Rs 30,000 ; Closing Inventory Rs 30,000; Selling and Distribution Expenses Rs 10,000; Currnet Assets Rs 2,00,000 and Current Liabilities Rs 1,20,000.

A company invited applications for 20,000 shares and received the applications for 25,000 shares. The directors rejected the applications for 5,000 shares. Amount paid on application was Rs 10 per share. How much amount shall be refunded?

Companies Act requires the names of Public Limited Companies to be followed by the word ____________

On January 01, 2012, X. Ltd. issues 5,000, 8% Debentures of Rs 100 each repayable at par at the end of three years. It has been decided to set up a cumulative sinking fund for the purpose of their redemption. The investments are expected to realise 4% net. The Sinking Fund Table shows that Rs 0.320348 amounts to one rupee 4% per annum in three years. On December 31, 2015 the balance at bank was Rs 2,42,360 and the investments realised Rs 3,25,000. The debentures were paid off.

Give journal entries and show ledger account.

A and B are partners sharing profits and losses in the ratio of 3 : 2 having capital of Rs 50,000 and Rs 40,000 on 1-4-2007. On 1st July 2017, A introduced Rs 10,000 as his additional capital whereas B introduced only Rs 1,000. If the interest on capital is allowed to partners at 10% p.a., calculate interest on capital if the financial year closes on 31st March every year.

Loan taken from bank will be classified as -

Asha and Lata are partners with Capitals of Rs 5,00,000 and Rs 4,00,000 respectively, on which they are entitled to interest at 10% p.a. They divide profits in the ratio of 2:1. They take Sudha, Manager of the business for the past 15 years, as partner in the firm with $\frac{1}{4}$th share of profits and guaranteed that her share of profits will not be less than Rs 2,00,000. Sudha brought Rs 3,00,000 as her capital. Any excess profits received by Sudha over her $\frac{1}{4}$th share will be borne by Asha and Lata in the ratio of 4:1. Profits at the end of the year before allowing interest on capitals amounted to Rs 7,20,000. Distribute the profits. What value has been fulfilled by Asha and Lata?

Pass journal entries for the following transactions :

(i) Realisation expenses amounted to Rs. 5,000.

(ii) Realisation expenses amounted to Rs. 8,000 were paid by partner X.

(iii) Realisation expenses amounted to Rs. 10,000 were paid by the firm on behalf of a partner.

(iv) Realisation expenses amounted to Rs. 15,000 were paid by the firm. Mr. X, one of the partners, has to bear these expenses.

(v) Realisation expenses amounted to Rs. 20,000 were paid by the firm. Rs. 8,000 were to be borne by the firm and the balance by Maruti, a partner.

A, T and R were partners in a firm sharing profits in the ratio of 5 : 6 : 7 respectively. Their capitals were Rs. 5,00,000; Rs. 6,00,000 and Rs. 7,00,000 respectively. State the ratio in which the goodwill of the firm amounting to Rs. 16,00,000 will be adjusted in the capital accounts of A and T in case of R’s death.

How many
significant figures are present in the following?

(i) 0.0025

(ii) 208

(iii) 5005

(iv) 126,000

(v) 500.0

(vi) 2.0034

Following is the Financial Statement of Garima Ltd., prepare cash flow statement.

Notes to Accounts

Additional Information:

1. Interest paid on Debenture Rs 600


2. Dividend paid during the year Rs 4,000


3. Depreciation charged during the year Rs 32,000

Companies decide to split their entire capital into units each of which carries ___________ value

Identify the major heads and sub-heads under which the following items will be shown in the Balance Sheet of a company as per Schedule III of Companies Act, 2013:

(i) Provision for Tax.

(ii) Loan payable on demand.

(iii) Computer and related equipment.

(iv) Goods acquired for trading.

M.Ltd. took over assets of Rs 9,00,00,000 and liabilities of Rs 70,00,000 of S.Ltd. and issued 8%Debenture of Rs 100 each. Record necessary entries in the books of M. Ltd.

R Ltd is a real estate company which was formed in 1950. In about 56 years of its existence, the company has managed to carve out a niche for itself in this sector. Lately, this sector is witnessing a boom due to the fact that the Indian economy is on the rise. The incomes of middle class are rising. More people can afford to buy homes for themselves due to easy availability of loans and accompanying tax concessions.

To expand its business in India and abroad, the company weighs various options to raise money through equity offerings in India. Whether to tap equity or debt market, whether to raise money from domestic market or international market or combination of both? When to raise the necessary finance from the money market or capital market? It is also planning to list itself in New York Stock Exchange to raise money through ADRs. To make its offerings attractive, it is planning to offer the host of financial plans and products to its stakeholders and investors and also expand its listing at NSE after complying with the regulations of SEBI.

How does the SEBI exercise control over 'R' Ltd in the interest of investors?

These are the statements which indicate the relationship of different items of a financial statement with a common item by expressing each item as a percentage of that common item.

Find the principal
value of