Dinesh, Yasmine and Faria are partners in a firm, sharing profits and losses in 11 : 7 : 2 respectively. The Balance Sheet of the firm as on 31st Dec. 2001 was as follows:

On the same date, Annie is admitted as a partner for on-sixth share in the profits with Capital of Rs.4,500 and necessary amount for his share of goodwill on the following items:-
a. Furniture of Rs.2,400 were to be taken over by Dinesh, Yashmine and Faria equally.
b. A Liability of Rs.1,670 be created against Bills discounted.
c. Goodwill of the firm is to be valued at 2.5 years purchase of average profits of 2 years. The profits are as under.
2000 - Rs.2,000 and 2001 - Rs.6,000
d. Drawings of Dinesh, Yasmine, and Faria were Rs.2,750; Rs.1,750; and Rs.500 Respectively.
e. Machinery and Public Deposits are revalued to Rs.2,000 and Rs.1,000 respectively
Prepare Revaluation Account, Partners Capital Accounts and Balance Sheet of the new firm.

X and Y are partners as they share profits in the proportion of 3 : 1 their balance sheet as at 31.03.07 as follows.

On the ame date, Z is admittedf into partnership for 1/5^th share on the following terms
a. Goodwill is to be valued at 31/2 years purchase of average profits of last for year which were Rs.20,000 Rs.17,000 Rs.9,000 (Loss) respectively.
b. Stock is fund to be overvalue by Rs.2,000 Furniture is reduced and Land to be appreciated by 10% each, a provision for Bad Debts @ 12% is to be created on Debtors and a Provision of Discount of Creditors @ 4% is to be created.
c. A liability to the extent of Rs.1,500 should be created for a claim against the firm for damages.
d. An items of Rs.1,000 included in Creditors is not likely to be claimed, and hence it should be written off.
Prepare Revaluation Account, Partners: Capital Accounts and Balance Sheet of the new firm if Z is to contribute proportionate capital and goodwill. The capital partners are to be in profit sharing ratio by opening current Accounts.

Rashmi and Pooja are partners in a firm. They share profits and losses in the ratio of 2 : 1. They admit Santosh into partnership firm on the condition that she will bring Rs. 30,000 for Goodwill and will bring such an amount that her capital will be 1/3 of the total capital of the new firm. Santosh will be given 1/3 share in future profits. At the time of admission of Santosh, the Balance Sheet of Rashmi and Pooja was as under:

It was decided to:
a. revalue stock at Rs. 45,000.
b. depreciated furniture by 10% and machinery by 5%.
c. made provision of Rs. 3,000 on sundry debtors for doubtful debts. Prepare Revaluation Account, Partners: Capital Accounts and Balance Sheet of the new firm. Give full workings.

A, Band C were partners in a firm sharing profits equally: Their Balance Sheet on.31.12.2007 stood as:

It was mutually agreed that C will retire from partnership and for this purpose following terms were agreed upon) Goodwill to be valued on 3 years’ purchase of average profit of last 4 years which were 2004 : Rs.50,000 (loss); 2005 : Rs. 21,000; 2006: Rs.52,000; 2007 : Rs.22,000.
ii) The Provision for Doubtful Debt was raised to Rs. 4,000.
iii) To appreciate Land by 15%.
iv) To decrease Plant and Machinery by 10%.
v) Create provision of Rs;600 on Creditors.
vi) A sum of Rs.5,000 of Bills Payable was not likely to be claimed.
vii) The continuing partners decided to show the firm’s capital at 1,00,000 which would be in their new profit sharing ratio which is 2:3. Adjustments to be made in cash
Make necessary accounts and prepare the Balance Sheet of the new partners.

6 Anil, Jatin and Ramesh were sharing profit in the ratio of 2 : 1 : 1. Their Balance Sheet as at 31.12.2001 stood as follows:-

Ramesh died on 31st March 2002. The following adjustments were agreed upon-
(a) Building be appreciated by Rs. 2,000
(b) Investments be valued at 10% less than the book value.
(c) All debtors (except 20% which are considered as doubtful) were good.
(d) Stock be increased by 10 %
(e) Goodwill be valued at 2 years’ purchase of the average profit of the past five years.
(f) Ramesh’s share of profit to the death be calculated on the basis of the profit of the preceding year. profit for the years 1997, 1998, 1999 and 2000 were Rs. 26,000, Rs. 22,000, Rs. 20,000 and Rs. 24,000 respectively.

Journalise the following transactions: 
(a) 10 debentures issued at Rs.100 repayable at rs. 100.
(b) 10 debentures issued at Rs.95, repayable at rs. 100.
(c) 10 debentures issued at Rs.105, repayable at rs. 100.
(d) 10 debentures issued at Rs.100, repayable at rs. 105.
(e) 10 debentures issued at Rs.95, repayable at rs. 105.

X Ltd made a profit of Rs.1,00,000/- after changing depreciation of Rs.20,000/- on assests and a transfer to General Reserve of Rs.30,000/-. The Goodwill written off was Rs.7,000/-and the gain on sale of machinary was Rs.3,000/-. The other information avaiable to you (changes in the value of assests and current liblities) is as follows:
At the end of the year Debtors showed an increase of Rs.6, 000/-, creditors an increase of Rs.10, 000/-, prepaid expenses an increase of Rs.200/-, Bills Receivable a decrease of Rs.3, 000/-, Bills Payable a decrease of Rs.4, 000/- and outstanding expenses a decrease of Rs.2, 000/-. Ascertain the cash flow from the operating activities

From the following Balance Sheets of Ranjan Ltd. prepare Cash Flow Statement:

Depreciation charged on plant was Rs. 10000 and building Rs.60000.

From the following Balance Sheet of India Ltd. and the additional information given made out the Cash Flow Statement:

Additional information:
(1)Depreciation of Rs.1,000/- and Rs.20,000/- has been charged on Plant and Land & Building respectively in 2006-07.
(2)The interim dividend of Rs.20, 000/- has been paid in 2007-08
(3) Income Tax of Rs.35,000/- was paid during the year 2007-08

From the following prepare cash flow statement as per AS-3

Additional information:
(i) During the year a part of the machinery costing Rs. 40,000 was sold for Rs. 20,000.
(ii) Depreciation provided during the year Rs. 80,000.
(iii) Interim Dividend paid during the year Rs. 20,000