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Priya, Karam and Anna were partners of a firm sharing profits in the ratio of 3 : 2 : 1. Their Balance Sheet on 31st March, 2014 was as follows :

$\begin{array}{ccccc}\text{Capital and Liabilities}& & \text{Rs}& \text{Assets}& \text{(Rs)}\\ \text{Bills Payable}& & 1,20,000& \text{Cash in Hand}& 20,000\\ \text{Creditors}& & 1,40,000& \text{Debtors}& 1,40,000\\ \text{Karam's Loan at}5\%& & 1,00,000& \text{Bills Receivable}& 70,000\\ \text{Reserve}& & 1,80,000& \text{Stock}& 1,70,000\\ \text{Capital A/cs :}& \text{Priya}2,00,000& & \text{Investment}& 1,30,000\\ & \text{Karam}1,20,000& & \text{Advertisement Suspense A/c}& 1,20,000\\ & \text{Anna}\underset{–}{80,000}& \underset{–}{4,00,000}& \text{Building}& 2,90,000\\ & & \underset{–}{\underset{–}{9,40,000}}& & \overline{\underset{–}{\underset{–}{9,40,000}}}\end{array}$

Karam died on 12th June, 2014 and according to the Partnership Deed his executors were entitled to be paid as under :

(a) His share in the profits of the firm till the date of his death which will be calculated on the basis of average profits of last three completed years.

(b) His share in the goodwill of the firm which will be calculated on the basis of two years' purchase of total profits of last three years.

(c) Profits for the last three years were : Rs 30,000, Rs 70,000 and Rs 80,000.

Prepare Karam's Capital A/c to be rendered to his executors.

A company with a debt-to-equity ratio of 2.5:1 and Rs 15,00,000 of shareholders' funds has debt of ________

Describe briefly the role of achievement motivation in entrepreneurship.

Share application money is ulimately transferred to ___

_________________ shows the effect of the material consumed, the purchases of stock in trade and the changes in inventory of work in progress and finished goods.

The cash and bank balance show a balance of 50,000 and 30,000 respectively. The balance to be transferred to Realisation A/c is _____________

Shiv and Hari entered into partnership on 1st April, 2015, contributing Rs 5,00,000 and Rs 2,00,000 respectively. Hari also introduced Rs 1,00,000 as additional capital on 1st July, 2015. They agreed to share profits and losses in the ratio of 3:2. The following information is provided regarding the partnership :

(i) Shiv and Hari, each are allowed a salary of Rs 5,000 per quarter.

(ii) Interest is to be allowed on Capitals at 8% p.a. and charged on drawings at 10% p.a.

Drawings of Shiv and Hari during the year were Rs 12,000 and Rs 10,000 respectively. Profit as at 31st March, 2016 before the above mentioned adjustments was Rs 1,96,000.

Prepare :

(i) Necessary journal entries relating to appropriation of profits,

(ii) Profit and Loss Appropriation A/c, and

(iii) Partner's Capital A/cs.

Under which capital method, the capital in the beginning of the year shall be always different from that in the end of the year?

From the following information, prepare a balance sheet of Mr. Raghav as at 31st March, 2016.

(i) In order permanence.

(ii) In order of liquidity

$\begin{array}{cccc}\text{Particulars}& \text{Amt (Rs.)}& \text{Particulars}& \text{Amt (Rs.)}\\ \text{Plant and Machinery}& 2,00,000& \text{Furniture and Fixtures}& 40,000\\ \text{Prepaid Expenses}& 2,000& \text{Accrued Income}& 4,000\\ \text{Income Received in Advance}& 4,000& \text{Outstanding Expenses}& 2,000\\ \text{Bills Payable}& 6,000& \text{Bills Receivables}& 4,000\\ \text{Sundry Debtors}& 2,00,000& \text{Sundry Creditors}& 1,98,000\\ \text{Bank Overdraft}& 20,000& \text{Investments in Shares of Raghav Ltd.}& 20,000\\ \text{Long-term Loan from Bank}& 2,00,000& \text{Closing Stock}& 1,70,000\\ \text{Capital}& 4,00,000& \text{Building}& 2,00,000\\ \text{Land}& 20,000& \text{Goodwill}& 20,000\\ \text{Drawings}& 20,000& \text{Net Profit}& 1,20,000\\ \text{Cash in Hand}& 10,000& \text{Cash at Bank}& 38,000\\ \text{Income Tax Paid}& 2,000& & \end{array}$

Following is the
Receipt and Payment Account of Women’s Welfare Club for the
year ended December 31, 2007:

Additional
Information:

Prepare Income and
Expenditure Account for the year ended December 31, 2007 and Balance
Sheet as on that date.

A.Ltd. purchased for cancellation Rs.50,000 of its 15% debentures at Rs.98. The expenses of purchase amounted to Rs.50.

Which account is credited while making the payment of redemption money to the debentureholders?

From the following Balance Sheet and other information, calculate following ratios:

(i) Debt-Equity Ratio (ii) Working Capital Turnover Ratio (iii) Trade Receivables Turnover Ratio

Additional Information: Revenue from Operations Rs. 18,00,000

"Income and Expenditure Account of a Not-for-Profit Organisation is akin to Profit and Loss Account of a business concern". Explain the statement.

Explain various methods of valuation of goodwill.

Explain the process of
dissolution of a partnership firm?

From the following Receipt and Payment Account prepare final accounts of a Unity Club for the year ended March 31, 2017.

Additional Information:

What journal entries
would be recorded for the following transactions on the dissolution
of a firm after various assets (other than cash) on the third party
liabilities have been transferred to Reliasation Account.

1. Arti took over the
Stock worth Rs 80,000 at Rs 68,000.

2. There was unrecorded
Bike of Rs 40,000 which was taken over By Mr. Karim.

3. The firm paid Rs
40,000 as compensation to employees.

4. Sundry creditors
amounting to Rs 36,000 were settled at a discount of 15%.

5. Loss on Realisation
Rs 42,000 was to be distributed between Arti and Karim in the ratio
of 3:4.

A , D and K are partners sharing profits and losses in the ratio of 5 : 5 : 2 respectively. A sacrifices 1/4 of his share and D sacrifices 1/4 of his share in favour of K .What will be the sacrificing ratio between partners.