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Arti and Bharti are partners in a firm sharing profits in 3 : 2 ratio. They admitted Sarthi for $\frac{1}{4}$ share in the profits of the firm. Sarthi brings Rs.50,000 for his capital and Rs. 10,000 for his 1/4 share of goodwill. Goodwill already appears in the books of Arti and Bharti at Rs.5,000. The new profit sharing ratio between Arti, Bharti and Sarthi will be 2 : 1: 1. Record the necessary journal entries in the books of the new firm.

Net Sales + Beginning Accounts Receivables − Closing Accounts Receivables is equal to ___

___ = 100% - Operating ratio

Pawan Ltd. invited applications for 30,000 shares of Rs.10 each.Payments were to be made as follows -- Rs.3 on Application; Rs.3 on Allotment; Rs.2 on First call and Rs.2 on Final call.

All the shares were applied. You are required to prepare journal entries.

Subscription received in cash during the year amounted to Rs. 40,000; subscription outstanding at the end of the previous year was Rs. 1,500 and outstanding at the end of the current year was Rs. 2,000. Subscription received in advance for next year was Rs. 800. The amount credited to Income and Expenditure Account will be:

A company has sold 10,000 tonnes of steel to its customer. The sale contract provides for a normal credit period of three months. The company’s operating cycle is six months. However, the company does not expect to receive the payment within twelve months from the reporting date. it shall be classified as___

If Income is Rs 16,000 & amount of deficit debited to capital fund is Rs 4,300, then expenditure is___

Neetu, Meetu and Teetu were partners in a firm. On 1st January, 2018, Meetu retired. On Meetu's retirement the goodwill of the firm was valued at Rs 4,20,000. Pass necessary Journal entry for the treatment of goodwill on Meetu's retirement.

A limited company offered for subscription 10,000 Equity Shares of Rs 10 each at a premium of Rs 2 per share and 5,000, 10% Preference Shares of Rs 10 each at par.

The amount on equity shares was payable as thus:

On Application Rs 3 per share

On Allotment Rs 5 per share (including a premium)

On First Call Rs 4 per share

The amount of preference shares was payable as follows:

On Application Rs 3 per share

On Allotment Rs 4 per share

On First Call Rs 3 per share

All the shares were fully subscribed, called-up and paid.

Record these transactions in the cash book of the company.

Which technique used for figures of two or more periods are placed side by side to facilitate easy and meaningful comparisons?

Forfeited shares are sold by way of __________.

Pinky, Qumar and Roopa, partners in a firm sharing profits and losses in the ratio of 3:2:1. Seema is admitted as a new partner for $\frac{1}{4}$ share in the profits of the firm which he gets $\frac{1}{8}$ from Pinky and $\frac{1}{16}$ each from Qumar and Roopa. The total capital of the new firm after Seema's admission will be Rs. 2,40,000. Seema is required to bring in cash equal to $\frac{1}{4}$ of the total capital of the new firm. The capitals of the old partners also have to be adjusted in the proportion of their profit sharing ratio. The capitals of Pinky, Qumar, and Roopa after all adjustments in respect of goodwill and revaluation of assets and liabilities have been made are Pinky Rs. 80,000, Qumar Rs. 30,000 and Roopa Rs. 20,000. Calculate the capitals of all the partners and record the necessary journal entries for doing adjustments in respect of capitals according to the agreement between the partners.

A company X Ltd. is setting up a new plant in India for manufacturing auto components. India has a highly competitive and cost-effective production base in this sector. Many reputed car manufacturers source their auto components from here. X Ltd. is planning to capture about 40% of the market share in India and also export to the tune of at least $ 5 million in about 2 years of its planned operations. To achieve these targets it requires a highly trained and motivated workforce. You have been retained by the com pany to advise it in this matter. While giving answer keep in mind the sector, the company is operating.

Which methods of training and development should company initiate? Explain giving reasons.

That portion of the subscribed capital which has not yet been called up is known as ___