X and Y, two partners, drew for private use Rs 2,40,000 and Rs 1,60,000. Interest is chargeable @6% per annum on the drawings. What is the total interest?

P and Q are partners with capitals of Rs.6,00,000 and Rs.4,00,000 respectively. The profit and Loss Account of the firm showed a net Profit of Rs.4,26,800 for the year. Prepare Profit and Loss account after taking the following into consideration:-
(i) Interest on P's Loan of Rs.2,00,000 to the firm
(ii) Interest on 'capital to be allowed @ 6% p.a.
(iii) Interest on Drawings @ 8% p.a. Drawing were; P Rs.80,000 and Q Rs.1000000
(iv) 10% of the divisible profits is to be kept in a Reserve Accounts.

A and C are partners with fixed capitals of the Rs.2,00,000, Rs. 1,50,000 and Rs.1,00,000 respectively. THe ba;ance of current accounts on 1st January, 2004 were A Rs.10,000 (Cr.) and B Rs.4,000 (Cr.) and C Rs.3,000 (Dr.). A gave a loan to the firm of Rs.25,000 on 1st July, 2004. THe Partnership deed provided for the following:-
(i) Interest on Capital at 6%.
(ii) Interest on drawings at 9%. Each partner drew Rs.12,000 on 1st July, 2004.
(iii) Rs.25,000 is to be transferred in a Reserve Account.
(iv) Profit sharing ratio is 5 : 3 : 2 upto Rs.80,000 and above Rs.80,000 equally. Net Profit of the firm before above adjustment was Rs.1,98,360.
From the above information prepare Profit and Loss Appropriation Account, Capital and Current Accounts of the partners.

Yogesh, Ajay and Atul are partners sharing profits in the ratio 4 : 3 : 2. Yogesh withdraw Rs.3,000 in the begining of every month. Ajay withdraws Rs.2,000 in the middle of every month whereas Atul withdraws Rs. 1,500 at the end of every month. Interest on capitals and drawings is to calculated @ 12% p.a. Ajay is also to be allowed a salary of Rs.1,000 per month. After deducting salary but before charging anu type of interest, the profit for the year ending 31st December, 1997 was Rs.1,14,780. Prepare Profit & Looss Appropriation Account, Partners Capital Accounts and Current ccounts fro the additional information given below:

Raghav Limited purchased a running business from Krishna traders for a sum of Rs. 15,00,000 Payable Rs. 3,00,000 by cheque and for the balance issued 9% debentures of Rs. 100 each at par.
The asset and liabilities consisted of the following:
Plant and Machinery         4,00,000
Building                             6,00,000
Stock                                 5,00,000
Debtors                              3,00,000
Creditors                            2,00,000

Journalise the following transactions in the books of Raja Ltd.,
1. 200 12% debentures of Rs.100 each issued it a discount of 10% were converted into 10% preference shares of Rs.100 each issued at a premium of 25%. The debentures were converted at  the option of the debentures-holders before the date of redemption.
2. Issued 1000 12% debentures of Rs.100 each at a discount of 10% redeemable at a premium of 5%.

On January 1st, 2006 S ltd issued 1,000 10% debentures of Rs.500 each at par redeemable after 7 years. However the company gave an option to debenture holder to get debentures However the company gave an option to debenture holder to get debentures converted into equity shares of Rs. 100 each at a premium of Rs. 25 per share any time after the expiry of one 
Arvind the holder of 200 debentures informed on Jan, 2006 that he wanted to excise the option of conversion of debentures into equity shares.
Pass necessary Journal entries to record the issue of debentures on Jan, 2004 and conversion of debentures on Jan, 2006.

Animesh Ltd issued 1,000, 12 % Debenture of 100 each in the following manner:
i) For cash at par Rs. 50,000 nominal
ii) For creditors of Rs. 45,000 against purchase of machinery Rs. 35,000 nominal
iii) To SBI bank against a loan of Rs. 10,000 as collateral security Rs. 15,000 nominal

Dipesh Ltd redeemed its 8,000, 11 % Debentures of Rs. 100 each in the following manner;
i) 4,000 debentures were purchased @ Rs. 95.
ii) 3,000 debentures were purchased @ Rs. 93
iii) 1,000 debentures were purchased @ Rs. 97.50.
The expenses on purchase of own debentures amounted to Rs. 200.
The debentures were purchased for immediate cancellation. Pass journal entries.

Prepare Comparative and Common Size income statement form the following information for the year's enden march 31, 2008 and 2009.