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What is bad debts?
What is surplus?
What are Noting Charges?
What is Gain Ratio?
What do you mean by Analysis of Financial Statement?
Expenses which are paid before due.
Excess of expenditure over income of 'not for profit' concerns.
Payment of the bill before due date.
An account opened to find out the profit or loss on sale of assets and settlement of liabilities.
A statement similar to balance sheet.
If shares are issued at its face value, it is called as issue at
A person who accepts the bill is called __________
The capital in the beginning of the accounting year is ascertained by preparing ______________
The proportion in which old partners make a sacrifice is called ___________ ratio.
The interest on capital is an income of the firm.
The inland bill which is drawn in and payable in the same country.
The debenture holder is owner of the company.
Purchase of fixed asset is operating cash flow.
Noting charges are payable to the Notary public, in case of honour of a bill.
What are the components of 'Current Ratio'?
What are the different cash inflows and cash outflows of investing activities?
Rani and Geeta are partners sharing profits and losses 3:2 respectively. Their position on 31st March, 2013 was as follows
Balance sheet as on 31st March, 2013.
(1) Suvarna should bring in cash Rs. 1,00,000 as capital for 1/5 th share in future profit and Rs. 25,000 as goodwill.
(2) Building should be revalued at Rs. 1,25,000.
(3) Depreciate furniture @ 12.5 % and stock @ 10% p.a.
(4) R.D.D. should be maintained as it is.
(5) The Capital Accounts of partners should be adjusted in their new profit sharing ratio through bank account.
Plant and machinery
(2) The goodwill of the retiring partner is to be valued at Rs. 8,000 and the remaining partners decided that goodwill be written back in their new profit sharing ratio which will be 5:3.
(3) Amount due to Pankaj is to be transferred to his loan account.
Prepare : (a) Profit and Loss adjustment account
(b) Capital account of partners.
(c) Balance sheet of new firm.
On due date, Pradhan finds himself unable to make payment of the bill and requests Raja to renew it. Raja accepted a proposal on the condition that, Pradhan should pay Rs. 1,000 on account along with interest Rs. 250 in cash and should accept new bill for the balance at 2 months. These arrangements were carried through. Afterwards, one month before due date of new bill Pradhan retired his acceptance by paying Rs. 4,850.
Give Journal entries in the books of Raja of Nagpur.
Balance sheet as on 31st March, 2013
Profit and Loss A/c
A’s Loan Account
On the above date, the partners decided to dissolve the firm.
(1) Assets were realised as -
(2) Dissolution expenses were Rs. 1,500.
(3) Goodwill of the firm realised Rs. 12,000
Pass the necessary journal entries int he books of the firm.
Pass journal entries to record these transactions assuming that call - in - arrears and interest money received from Mr. D. Kapse in the books of Kisan Co Ltd. Miraj.
Marathi Vishwa Kosha Centre, Wai, has given you the following information from which, you are required to prepare. (i) Income and Expenditure Account for the year ending on 31.03.2013, (ii) Balance Sheet as on 31.03.2013.
To Balance b/d
Cash in hand
[Purchased on 01.01.2013]
To Locker Rent
To Entrance Fees
By Expenses of Drama
To Sale of old newspapers
By Postage and telegram
To Receipts from Drama
By Magazines and Newspapers
To Miscellaneous Receipts
By Balance c/d
Cash in Hand
Cash at bank
Trial Balance as on 31.03.2013
Purchases and Sales
Sundry Debtors and Creditors
Bills Receivable and Bills Payable.
Postage and Telegrams
Plant and machinery
Cash in hand