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Charge is a ___________ from the amount of profits. Appropriation is ____________ of profits.

Following Receipt and Payment Account was prepared from the cash book of Delhi CharitableTrust for the year ending December 31, 2007.


Prepare Income andexpenditure account for the year ended December 31, 2007, and balance sheet as on that date after the following adjustments:
(a) It was decided to treat one-third of the amount received on account of donation as income.
(b) Insurance premium was paid in advance for three months. (c) Interest on investment Rs1,100 accrued was not received.
​​​​​​​(d) Rent Rs600: salary Rs900 and advertisement expenses Rs1,000 outstanding as on December 31, 2007.

Debentures can be bought and sold in the market for a _______________

Ram & Mohan withdrew for private use Rs 48,000 & Rs 36,000 respectively during the year evenly in the middle of every month. Interest is chargeable 10% p.a. on drawings. What is the total interest?

Does court has authority to give order to dissolve the firm?

From the following details, calculate interest coverage ratio: Net Profit after tax Rs. 60,000; 15% Long-term debt 10,00,000; and Tax rate 40%.

What is the number of major heads of the current liabilities in a balance sheet?

In what ratio does the outgoing partner be compensated by remaining partners for the goodwill contributed by him?

General reserve shows a balance of 30,000. The profit sharing ratio of X, Y and Z is 3:2: 1. The capital ratio is 2:3:1. The amount transferred to realisation A/c is -

Distinguish between Receipt and Payment Account ana Income and Expenditure Account.

A company offered 1,00,000 shares of Rs 10 each payable as Rs 3 on application, Rs 2.50 on allotment, Rs 2.50 on 1st call and Rs 2 on the final call.

The public applied for 1,52,000 shares. The shares were allotted on a pro-rata basis to the applicants of 1,50,000 shares. All shareholders paid the allotment money excepting one shareholder who was allotted 200 shares. These shares were forfeited. The first call was made thereafter. The forfeited shares were re-issued Rs 9 per share Rs 8 paid up. The final call was not yet made.

You are required to pass journal entries.

Balance of Income and Expenditure Account shows ____

A company has offered for subscription to the public 10,000 shares of Rs 10 each. It has received applications for 15,000 shares. Company has decided to allot shares on prorata basis. Gunakshi holding 200 shares failed to pay

allotment money and first call money. Her shares were forfeited :

Amount payable was as under :

Rs 2 per share on application.

Rs 3 per share on allotment.

Rs 5 per share on call.

Calculate the amount unpaid on allotment.

A, B and C enter into a partnership of Rs.8200. If A invests Rs. 2000 more than B and B invests Rs. 400 more than C. Find the investment of B.

The depreciation value can be decreased due to :

The capital employed of a business is 1,20,000. The normal rate of return is 10%. A firm is able to earn an average profit of 15,000. Calculate Super Profits.

Working capital turnover ratio can be determined by:

Salman bought 40 chairs at rupess 175 each. He sold one-fourth of them at a loss of 8 percent. At what price each must he sell the remaining chairs so as to gain 10 percent on the whole deal.

What is the difference between ex-ante investment and ex-post investment?

All the shares subscribed and the company received all the money due. With the exception of the allotment and call money on 150 shares. These shares were forfeited and reissued to Neha as fully paid share of Rs.120 each.

Give journal entries in the books of the company.

Old ratio of A,B & C is 5:4:1. If C acquires 1/5th Share from A, the new profit sharing ratio will be

A, B and C were partners in a firm sharing profits in 3 : 2 : 1 ratio. They admitted D for 10% profits. Calculate the new profit sharing ratio.

On what occasions sacrificing ratio is used?

Naresh, Raj Kumar and Bishwajeet are equal partners. Raj Kumar decides to retire. On the date of his retirement,the Balance Sheet of the firm showed the following General Reserves Rs. 36,000 and Profit and Loss Account (Dr) Rs.15,000.

Pass the necessary journal entries to the above effect.

In normal trading circumstances, which of the following would not be found in a partner’s current account?

On January 1, 2001, Satkar Transport Ltd purchased 3 buses for Rs.10,00,000 each.On July 1, 2003, one bus was involved in an accident and was completely destroyed and Rs,7,00,000 were received from the Insurance Company in full settlement. Depreciation is written off 15% per annum on diminishing balance method. Prepare Bus account from 2001 to 2004. Books are closed on December 31st every year.

The main source of income of NPO is from _____

At what figures the value of assets and liabilities appear in the books of the firm after revaluation has been due. Show with the help of an imaginary balance sheet.

Explain the meaning of cash reserve ratio and statutory liquidity ratio.

What is 'Capital Reserve'?

Donations received in cash for Rs. 5,000 for promoting objectives of organisation are shown on ______________

A & B are partners sharing profits & losses in the ratio of 3:2 having capital of Rs 80,000 & Rs 50,000 resp. They are entitled to 9% p.a. interest. During the year firm earned Rs 7,800 after providing interest on capital. Profits apportioned between A & B shall be:

From the following information supplied by Sanjay, prepare his bank reconciliation statement as on 31st December, 2016.

$\begin{array}{ccc}& & \text{Amt (Rs.)}\\ \left(i\right)& \text{Bank overdraft as per passbook}& 16,500\\ \left(ii\right)& \text{Cheques issued but not presented for payment}& 8,750\\ \left(iii\right)& \text{Cheques deposited with the bank but not collected}& 10,500\\ \left(iv\right)& \text{Cheques recorded in the cash book but not sent to the bank for collection}& 2,000\\ \left(v\right)& \text{Payment received from customers directly by the bank}& 3,500\\ \left(vi\right)& \text{Bank charges debited in the passbook}& 200\\ \left(vii\right)& \text{Premium on life policy of Sanjay paid by the bank on standing advice}& 1,980\\ \left(viii\right)& \text{A bill for Rs. 3,000 (discounted with the bank in November)},& \\ & \text{dishonoured on 31st December, 2016 and noting charges paid by the bank}& 100\end{array}$

Mr. Nair gets Rs.6,455 at the end of one year of 14 % p. a. in a recurring deposit account. Find the monthly instalment.

Amit and Bhola are partners in a firm. They share profits in the ratio of 3 : 2. As per their partnership agreement, interest on drawings is to be charged 10% pa. Their drawings during 2006 were Rs 24,000 and Rs 16,000 respectively. Calculate interest on drawings based on the assumption that the amounts were withdrawn evenly, throughout the year.

The Debentures Suspense Account will appear on the ___side of the balance sheet.

Under which capital method, there are 2 accounts opened for each partner?

Two statements have been given followed by some conclusions. Choose the conclusion(s) that follow from both the statements.

Statements:

All aged people have Experience.

All Directors are aged.

Conclusions:

A. Some experienced people may not be aged.

B. Experienced aged people are Directors.

When amount received from debentureholders on allottment is more than their face value/nominal value, they are said to be issued at ___

When debentures are issued at premium & redeemed at premium, the securities premium account is credited with ___

Is increase in share capital due to bonus issue shown in cash flow statement?

Which of the following is not a part of shareholders' funds in the balance sheet?

When loan amount is shown in the assets side of the balance sheet, the amount of loan will be transferred to ____________.

Excess of issue price of shares over its face value is termed as ___

Accumulated losses are transferred to Capital Accounts in _____________

If the debentures are to be redeemed in instalments, the redemption is made out of ___