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By what amount Bank A/c is to be credited while redemption when 10,000 debentures of Rs. 100 each are isued at premium of Rs. 20 and to be redeemed at par ?

Stock is-

Debentures can be issued ___

We close the temporary account like interest on drawings account by transferring it to ___________ account.

In some cases, the items presented under the “non-current” head of the Balance Sheet do not have a corresponding “current” head especially for Assets.

G Ltd issued 75,00,000, 6% Debentures of Rs.50 each at par payable Rs.15 on application and Rs. 35 on allotment, redeemable at par after 7 years from the date of issue of debentures. Record necessary entries in the books of company.

Chandra Ltd. issued 15,000 Preference shares of Rs 100 each at a premium of $5\%$. Payments were to be made as --- Rs 25 on Application; Rs 45 on Allotment and Rs 35 on First and Final Call.

The Applications for 14,000 shares were received and all were accepted. All the money was duly received except the first and final call on 200 shares.

Give the necessary Journal Entries and prepare Cash Book of the Company.

Which of the following is not a financing activity:

A company purchased assets of the book value of Rs 10,00,000 from Best Ltd. It was agreed that the purchase consideration would be paid by issuing 13% Fully paid Debentures of Rs 40 each. If Debentures are issued at par then how many such Debentures would be issued by the company to Best Ltd.?

'Interest received and paid' is considered as which type of activity by a finance company while preparing a Cash Flow Statement ?

Classify the following activities into (i) Operating Activities, (ii) Investing Activities, and (iii) Financing Activities in case of (a) a Financial Enterprise, and (b) a Non-Financial Enterprise:
1. Purchase of securities fo a company.
2. Brokerage paid for the purchase fo securities.
3. Sale of securities of a Company.
4. Loans and advances made.
5. Receipts from the repayments of loans and advances.
6. Interest received on securities.
7. Dividend received on securities.
8. Interest paid on borrowings.
9. Dividend paid to shareholders.

Cash Revenue from Operations (Cash Sales) Rs. 2,00,000

Credit Revenue from Operations (Credit Sales) Rs. 4,00,000

Gross Profit Rs. 1,00,000

Inventory Turnover Ratio 5 Times

Calculate the value of Opening and Closing Inventory in eash of the following alternative cases :

Case I If closing inventory was Rs. 80,000 in excess of opening inventory.

Case II If closing inventory was 3 times that in the beginnning.

Case III If closing inventory was 3 times more than that in the beginning.

Case IV If opening inventory was $\frac{1}{3}$ rd of inventory at the end.

Disclosure of cost of materials consumed expense is required only in case of ___

There are instances when applications for more shares of a company are received than the number offered to the public for subscription. It is known as ___

Donation received for specific objective will be shown :

X, Y, and Z are partners in a firm. At the time of division of profit for the year, there was a dispute between the partners. Profits before interest on partner's capital was 24,000 and Z demanded minimum profit of 10,000 as his financial position was not good. However, there was no written agreement on this profit. Show how profit will be distributed amongst the partners.

What will be the operating profit ratio, if operating ratio is 83.64%?

Premium on redemption of debentures is a ________.

Distinguish between Firm's Debts and Partner's Private Debts.

In what sense can defence and security services provided by the government be treated as intermediate services?

The ratio of cost of goods sold to accounts payable is called _______________.

$\begin{array}{ccc}\text{Opening cash balance}& & \\ \text{Opening bank balance}& & \text{Rs. 500}\\ \text{Subscriptions collected for}& & \text{Rs. 3600}\\ \text{Subscriptions collected for}& & \text{Rs. 3600}\\ 2016-17& \text{Rs.250}& \\ 2017-18& \text{Rs.3800}& \\ 2018-19& \text{Rs.450}& \\ \text{Sale of refreshments}& & \text{Rs. 4500}\\ \text{Entrance fees}& & \text{Rs. 500}\\ \text{Sale of old sports materials}& & \text{Rs. 500}\\ \text{Donation received}& & \text{Rs. 600}\\ \text{Rent paid}& & \text{Rs. 2300}\\ \text{Sports materials purchased}& & \text{Rs. 1500}\\ \text{Purchase of refreshments}& & \text{Rs. 2400}\\ \text{Expenses for maintenance}& & \text{Rs. 300}\\ \text{Salary paid}& & \text{Rs. 1000}\\ \text{Tournament expenses}& & \text{Rs. 1250}\\ \text{Furniture purchased}& & \text{Rs. 1200}\end{array}$

Calculate the closing cash & bank balance.

If there are lesser profits, then the amount of dividend is _________.

Mention three points that are to be kept redeeming the debentures.

An example of cash flow from investing activity is :

S, T and U were partners in a firm sharing profits in the ratio of 1 : 2 : 2. On 15-2-2015 S died and the new profit sharing ratio of T and U was 3 : 2. On S's death the goodwill of the firm was valued at Rs 60,000.

Calculate the gaining ratio and pass necessary journal entry on S's death for the treatment of goodwill.

From the following Receipt and Payment Account of a club, prepare Income and Expenditure Account for the year ended December 31, 2013 and the Balance Sheet as on that date.


Additional Information:
(a) The club has 100 members each paying an annual subscription of Rs 900. Subscriptions outstanding on December 31, 2012 were Rs 3,600.
(b) On December 31, 2013 , salary outstanding amounted to Rs 1,000, Salary paid included Rs 1,000 for the year 2012.
(c) On January 1, 2013 the club owned land and building Rs 25,000, furniture Rs 2,600 and books Rs 6,200.

Manoj, Sahil and Dipankar are partners in a firm sharing profits and losses equally. They have omitted interest on Capital 10% per annum for three years on following capitals:

Manoj - 3,00,000

Sahil - 2,00,000

Dipankar - 1,00,000

Whose current account is to be debited?

Which account resembles the cash book?

Under ___ method , the capital account may have either debit or credit balances.

The _________ ratios are primarily measures of returns.

Whenever securities premium is received and the shares are forfeited, what will be the treatment in Share Forfeiture A/c?

Profits of last four years are 12,000, 16,000, 23,000, 27,000 respectively. Calculate goodwill based on average profits of 2 years purchase

Which account is to be debited to transfer interest on investment to debenture redemption fund?

Which of the following is a category or element of the balance sheet?

Gaining partners capital accounts are debited in the ____________ ratio to give effect to treatment of goodwill.

What is forward exchange rate?

Azad and Babli are partners in a firm sharing profits & losses in the ratio of 2 :1. Chintan is admitted in to the firm with $\frac{1}{4}$ Share in profits. Chintan will bring in 30,000 as his capital and :ttie Capitals of Azad and Babli are to be adjusted in the profit sharing ratio. The Balance Sheet of Azad and Babli as on December 31, 2006 (Before Chintan's admission) was as follows

$\text{Balance Sheet of A and B}$
$\text{as on 31.12.2016}$
$\begin{array}{cccc}\text{Capital and Liabilities}& \text{Amt. (Rs)}& \text{Assets}& \text{Amt. (Rs)}\\ \text{Creditors}& 8,000& \text{Cash in hand}& 2,000\\ \text{Bills Payable}& 4,000& \text{Cash at bank}& 10,000\\ \text{General Reserve}& 6,000& \text{Sundry Debtors}& 8,000\\ \text{Capital Accounts}& & \text{Stock}& 10,000\\ \text{Azad}50,000& & \text{Furniture}& 5,000\\ \text{Babli}\underset{–}{32,000}& 82,000& \text{Machinery}& 25,000\\ & & \text{Buildings}& 40,000\\ & \overline{\underset{–}{\underset{–}{1,00,000}}}& & \overline{\underset{–}{\underset{–}{1,00,000}}}\end{array}$

It was agreed that :

(i) Chintan will bring in Rs. 12,000 as his share of good will premium.

(ii) Buildings were valued at Rs. 45,000 and machinery at Rs. 23,000.

(iii) A provision for doubtful debts is to be created 6% on debtors.

(iv) The capital accounts of Mad and Babb are to be adjusted by opening current accounts.

Record necessary journal entries, show necessary ledger accounts and prepare the balance sheet after admission.

Sunrise Ltd. was registered with a capital of Rs 4,00,000 in shares of Rs 100 each. It issued 2,000 of such shares payable Rs 25 per share on application; Rs 25 on allotment; Rs 20 on first call; and the balance as and when required.

All moneys payable on application and allotment were duly received, but when the first call of Rs 20 per share was made, one shareholder holding 100 shares failed to pay the amount due and another shareholder holding 200 shares paid them in full.

Record these transactions in the journal of the Company.

Calculate Trade Receivable Turnover Ratio and Average Collection Period from the following :

$\begin{array}{cc}& \text{Rs.}\\ \text{Total Revenue from Operations for the year (Total Sales)}& 4,00,000\\ \text{Closing Trade Receivable}& \text{1,00,000}\\ \text{Excess of Closing Trade Receivables over Opening Trade Receivables}& \text{40,000}\end{array}$

Cash Revenue from Operations (Cash Sales):
Being 25 % of Credit Revenue from Operations

Comparative analysis is also known as ________ analysis.

Non-operating gains like gain on sale of non-current assets are _________ under indirect method.

A ______ debt-to-equity ratio indicates a lower amount of financing by debt via lenders versus funding through equity via shareholders.

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

XYZ limited has issued 20,000 debentures of Rs 100 each redeemable after 4 years of which Rs 40 need to be paid at application stage and Rs 60 rupees need to be paid at allotment stage. Let’s say the public has subscribed for 30,000 debentures. If the company decides to refund the excess application money. How much money should be refunded?

When the amount due to retiring partner is paid by cheque, which account is credited?

Receipts and Payments Account generally shows: