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E ltd. had allotted 10,000 shares to the applicants of 14,000 shares on pro-rata basis. The amount payable on application was Rs. 2 and balance on allotment. F applied for 420 shares. The number of shares allotted and the amount carried forward for adjustment against allotment money due from F will be :

On April 01, 2014 a company issued 15% debentures of Rs 10,00,000 at par. The debentures were redeemable at par after three years from the date of Issue. A sinking fund was set up to raise funds for redemption of debentures. The amount for the purpose was invested in 6% Government securities of Rs 100 each available at par. The sinking fund table shows that if investments earn 6% per annum, to get Re.1 at the end of 3 years, one has to invest Rs 0.31411 every year together with interest that will be earned. On March 31, 2017, all the Government securities were sold at a total loss of Rs 6,000 and the debentures were redeemed at par.

Prepare Debentures Account Sinking Fund Account, Sinking Fund Investment Account and Interest on Sinking Fund Investment Company closes its books of accounts every year on March 31.

Two number are in the ratio 3 : 5. If 9 is subtracted from each, the new numbers are in the ratio 12 : 23. The smaller number is:

Why did the author appear to be doing nothing at the studios?

Union Health and Family Welfare Ministry awarded the certificate of Miniratna Category-I status to Hospital Services Consultancy Corporation (I) Ltd (HSCC) for its consistency in excellent performance in top and bottom-line growth along with its turnover, particularly for the last five years.

1) These statuses are granted by the Department of Public Enterprises under Union Ministry of Heavy Industries and Public Enterprises.

2) The company boards are entitled to invest up to 300 crore rupees or up to 50 percent of their net worth, whichever is lower without seeking government permission to achieve Category-I status.

Which of the above statement(s) is/are correct?

All the increases or decreases in the value of assets and liabilities are then recorded into which account?

Which of the following items would be subtracted from net income when using the indirect method of calculating cash flows provided by operating activities?

Do we show legacies in income and expenditure account?

How will you deal with a change in the profit sharing ratio among existing partners?

Take imaginary figures to illustrate your answer?

The other terms agreed upon were:

(a) Goodwill of the firm was valued at ₹ 24,000.

(b) Land and Building were valued at ₹ 65,000 and Plant and Machinery at ₹ 60,000.

(c) Provision for Doubtful Debts was found in excess by ₹ 400.

(d) A liability of ₹ 1,200 included in Sundry Creditors was not likely to arise.

(e) The capitals of the partners be adjusted on the basis of C's contribution of capital to the firm.

(f) Excess of shortfall , if any, be transferred to Current Accounts.

Prepare Revaluation Account , Partners' Capital Accounts and Balance Sheet of the new firm.

Explain the nature of the financial statements.

Identify various
matters that need adjustments at the time of admission of a new
partner.

Q12. The pillars of the human development are:

1. Equity 2. Sustainability

3. Productivity 4. Empowerment

Select the correct answer using the codes given:

The outgoing partners` capital account is credited with the ______________ according to the profit sharing ratio

On what account Realisation Account differs from Revaluation Account?

X and Y are partners sharing profits and losses in the ratio of 3:2 having the capital of Rs. 1,60,000 and Rs. 1,00,000 respectively. They are entitled to 9% p.a. interest on capital before distributing the profits. During the year, the firm earned Rs. 15,600 before allowing any interest on capital. Profits apportioned among X and Y is :

What Is The Basic Accounting Equation

What is
matching concept? Why should a business concern follow this concept?
Discuss?

The following balances appeared in the books of Z Ltd on January 1,2004.

$\begin{array}{cc}\text{Items}& \text{Rs.}\\ \text{12\% Debentures}& 1,50,000\\ \text{Debentures Redemption Reserve Fund}& 1,25,000\\ \text{Debentures Redemption Fund Investment}& 1,25,000\\ \text{(Represented by Rs. 1,47,500, 3 \% Govt. Securities )}& 1,25,000\end{array}$

The annual installment added to the fund is Rs. 20,575. On December 31,2004, the bank balance after the receipt of interest on the investment was Rs. 39,100. On that date, all the invesment were sold at 83% and the debentures were duly redeemed.
Show the necessary ledger accounts for the year 2004.

What
is cash book? Explain the types of cash book.

Which account is credited on receipt of the share call money ?

Amit, Babita and Sona form a partnership firm, sharing profits in the ratio of 3 : 2 : 1, subject to the following :

You are required to show Profit and Loss Appropriation Account (after giving effect to the alone).

How will you deal with the accumulated profits and losses and reserves on the admission of a new partner?

Ram and Shyam were partners in a firm sharing profits in the ratio of 2 : 3 respectively. They become old and no one was there to look after their business. Therefore, they decided to dissolve the business and donate the amount available to a NGO who is providing service for growing trees in urban areas to control pollution. On 31st January, 2014 their Balance Sheet was as follows :

BALANCE SHEET

as on 31st January, 2014

$\begin{array}{cccc}\text{Liabilities}& \text{Amount}& \text{Assets}& \text{Amount}\\ & \left(\text{Rs}\right)& & \left(\text{Rs}\right)\\ \text{Creditor}& 65,000& \text{Land}& 1,20,000\\ \text{Bills Payable}& 35,000& \text{Machinery}& 65,000\\ \text{Capitals:}& & \text{Goodwill}& 10,000\\ \text{Ram}& 75,000& \text{Stock}& 25,000\\ \text{Shyam}& 75,000& \text{Debtors}& 20,000\\ & & \text{Cash}& 10,000\\ & \overline{2,50,000}& & \overline{2,50,000}\end{array}$

Ram paid the creditors at a discount of 15$\%$ and Shyam paid bills payable in full. Assets realised as follows : Land at 20$\%$ less, Machinery Rs 35,000. Stock at 25$\%$ less and Debtors Rs 12,500. Expenses on realisation Rs 1,750 were paid by Shyam. Prepare Realisation Account, Partner's Capital Accounts and Bank Account.

OR

Alfa and Beta were partners in a firm. They were trading in artifical limbs. On 1st April, 2013 they admitted Gama, a good friend of Beta into the partnership. Gama lost his one hand in an accident and Alfa and Beta decided to give one artifical hand free of cost to Gama. The Balance Sheet of Alfa and Beta, as on 31st March, 2014 was as follows :

BALANCE SHEET OF ALFA AND BETA

As on 31st March, 2013

$\begin{array}{cccc}\text{Liabilities}& \text{Amount}& \text{Assets}& \text{Amount}\\ & \left(\text{Rs}\right)& & \left(\text{Rs}\right)\\ \text{Provision for Doubtful Debts}& 40,000& \text{Cash}& 1,00,000\\ \text{Workmen's Compensation Fund}& 56,000& \text{Sundry Debtors}& 8,00,000\\ \text{Outstanding Expenses}& 30,000& \text{Stock}& 2,00,000\\ \text{Creditors}& 3,00,000& \text{Machinery}& 3,86,000\\ \text{Capitals:}& & \text{Profit and Loss A/c}& 40,000\\ \text{Alfa}5,00,000& & & \\ \text{Beta}\underset{–}{6,00,000}& \underset{–}{11,00,000}& & \\ & 15,26,000& & \overline{15,26,000}\end{array}$

Gama was admitted in the firm on the following terms :

(i) Gama will bring in Rs 4,00,000 as his share of capital, but he was unable to bring any amount for goodwill.

(ii) The new profit sharing ratio between Alfa, Beta and Gama will be 3 : 2 : 1.

(iii) Claim on account of workmen's compensation was Rs 30,000.

(iv) To write off bad debts amounting Rs 40,000

(v) Creditors were paid Rs 20,000 more.

(vi) Outstanding expenses be brought down to Rs 12,000.

(vii) Rs 20,000 be provided for an unforeseen liability.

(viii) Goodwill of the firm was valued at Rs 1,80,000.

Prepare Revaluation Account, Capital Accounts of Partners and the operating Balance Sheet of the new firm.