From the following particulars ascertain profit or loss: 

	Rs.
Capital at the beginning of the year (1st April, 2016)	2,00,000
Capital at the end of the year (31st March, 2017)	3,50,000
Additional capital introduced during the year	70,000
Drawings during the year	40,000

From the following particulars, prepare bills receivable account and compute the bills received from the debtors

Particulars	Rs
Opening bills receivable	20,000
Closing bills receivable	30,000
Cash received for bills receivable	60,000
Bills receivable dishonoured	5,000

From the following particulars ascertain profit or loss:

Particulars	Rs.
Capital at the beginning of the year (1st April, 2018)	5,00,000
Capital at the end of the year (31st March, 2019)	8,50,000
Additional capital introduced during the year	1,20,000
Drawings during the year	70,000

Find out credit sales from the following information:

Particulars	Rs.
Debtors on 1st April, 2018	1,00,000
Cash received from debtors	2,30,000
Discount allowed	5,000
Returns inward	25,000
Debtors on 31st March 2019	1,20,000

From the following Receipts and Payment Account of Ooty Recreation Club, prepare Income and Expenditure Account for the year ended 31.03.2018

Receipts	Rs.	Payments	Rs.
To Opening balance		By Sports materials purchased	10,000
Cash in hand	5,000	By Stationery paid	7,000
To Rent received	10,000	By Computer purchased	25,000
To Sale of investments	8,000	By Salaries	20,000
To Subscription received	54,000	By Closing balance
		Cash in hand	15,000
	77,000		77,000

How will the following items appear in the final accounts of a sports club?

Particulars	Rs.
Stock of sports materials (01.04.2018)	3,000
Sports materials purchased during current year	9,000
Sale of old sport materials during current year	500
Stock of sports materials (31.03.2019)	4,000

Write a short note on life membership fees.

From the following particulars, show how the item ‘subscription’ will appear in the Income and Expenditure Account for the year ended 31-12-2018? Subscription received in 2018 is Rs.50,000 which includes Rs.5,000 for 2017 and Rs.7,000 for 2019. Subscription outstanding for the year 2018 is Rs 6,000. Subscription of Rs.4,000 was received in advance for 2018 in the year 2017.

Chennai tennis club had Match fund showing credit balance of Rs. 24,000 on 1^st April, 2018. Receipt to the fund during the year  was Rs. 26,000. Match expenses incurred during the year was Rs. 33,000. How these items will appear in the final accounts of the club for the year ended 31^st March, 2019?

What are the features of not-for-profit organizations?

Write a note on Donations

Income and expenditure account of a not-for-profit organization is akin to profit and loss account of a business concern. Explain the statement.

Antony and Akbar were partners who share profits and losses in the ratio of 3:2. Balance in their capital account on 1^st January 2018 was Antony Rs. 60,000 and Akbar Rs. 40,000. On 1^st April 2018 Antony introduced additional capital of Rs. 10,000. Akbar introduced additional capital of Rs. 5,000 during the year. Calculate interest on capital at 6% p.a. for the year ending 31^st December 2018.

Rajan is a partner who withdrew Rs. 30,000 during the year 2018. Interest on drawings is charged at 10% per annum. Calculate interest on drawings on 31st December, 2018.

What is the journal entry to be passed for providing interest on capital to a partner?

Kumar is a partner in a partnership firm. As per the partnership deed, interest on drawings is charged at 6% per annum. During the year ended 31st December, 2018 he withdrew as follows:

Date	Rs.
March 1	4,000
June 1	4,000
September 1	4,000
December 1	4,000

Calculate the amount of interest on drawings. 

Kevin and Francis are partners. Kevin draws Rs. 5,000 at the end of each quarter. Interest on drawings is chargeable at 6% p.a. Calculate interest on drawings for the year ending 31^st March 2019 using average period.

Suresh and Ramesh are partners in a firm with capitals of Rs. 3,00,000 and Rs. 4,00,000 respectively. The do not have a partnership deed. Ramesh wants to share the profits in the ratio of capitals. State with reason whether the claim is valid

An accountant of the firm has debited interest on partner's loan to the profit and loss appropriation account and credited to the partner's capital account. Is he correct?

From the following information, find out the value of goodwill by capitalisation method:
(a) Average profit = Rs. 60,000
(b) Normal rate of return = 10%
(c) Capital employed = Rs. 4,50,000

What is super profit?

How does the factor's 'quality of product' affect the goodwill of a firm?

Anbu and Raju are partners, sharing profits in the ratio of 3:2. Akshai is admitted as a partner. The new profit sharing ratio among Anbu, Raju and Akshai is 5:3:2. Find out the sacrificing ratio.

Prasanth and Nisha are partners sharing profits and losses in the ratio of 3:2. They admit Ramya as a new partner. Prasanth surrenders 2/5 of his share and Nisha surrenders 2/5 of her share in favour of Ramya. Calculate the new profit sharing ratio and sacrificing ratio.

Ashok and Mumtaj were partners in a firm sharing profits and losses in the ratio of 5:1. They have decided to admit Tharun into the firm for 2/9 share of profits. The goodwill of the firm on the date of admission was valued at Rs. 27,000. Tharun is not able to bring in cash for his share of goodwill. Pass necessary journal entries for goodwill on the assumption that the fluctuating capital system is followed.

Give the journal entry for writing off existing goodwill at the time of admission of a new partner.

Ananth and Suman are partners sharing profits and losses in the ratio of 3:2. They admit Saran for 1/5 share, which he acquires entirely from Ananth. Find out the new profit sharing ratio and sacrificing ratio.

Govind and Gopal are partners in a firm sharing profits in the ratio of 5:4. They admit Rahim as a partner. Govind surrenders 2/9 of his share in favour of Rahim. Gopal surrenders 1/9 of his share in favour of Rahim. Calculate the new profit sharing ratio and sacrificing ratio.

Ambika, Dharani and Padma are partners in a firm sharing profits in the ratio of 5:3:2. They admit Ramya for 25% profit. Calculate the new profit sharing ratio and sacrificing ratio.

The amount of bills payable appearing in the balance sheet is understated by. Rs.10,000 State whether the revaluation account will be debited or credited to restore the amount of bills payable to its actual value. Also give reason for your answer.

Kiran, Vinoth and Vimal are partners sharing profits in the ratio of 5:3:2. Kiran retires and the new profit sharing ratio between Vinoth and Vimal is 2:1. Calculate the gaining ratio.

Rahul, Ravi and Rohit are partners sharing profits and losses in the ratio of 5:3:2. Rohit retires and the share is taken by Rahul and Ravi in the ratio of 3:2. Find out the new profit sharing ratio and gaining ratio.

Suresh, Senthamarai and Raj were partners in a firm sharing profits and losses in the ratio of 3:2:1. Suresh retired from partnership. The goodwill of the firm on the date of retirement was valued at Rs. 36,000. Pass necessary journal entries for goodwill on the assumption that the fluctuating capital system is followed.

What is the journal entry to be passed to transfer the amount due to the deceased partner to the executor of the deceased partner?

Ramu, Somu, Gopu are partners sharing profits in the ratio of 3 : 5 : 7. Gopu retires and the share is purchased by Ramu and Somu in the ratio of 3 : 1. Find the new profit sharing ratio and gaining ratio

How can a partner retire from the firm? (Any two)

Bharath Ltd. issued 1,00,000 equity shares of  Rs. 10 each to the public at par. The details of the amount payable on the shares are as follows:

On application	Rs.5 per share
On allotment	Rs.3 per share
On first and final call	Rs.2 per share

Application money was received for 1,20,000 shares. Excess application money was refunded immediately. Pass journal entries to record the above.

What is over-subscription?

Why are the shares forfeited?

Definition of a Company.

From the following particulars, prepare comparative income statement of Tharun Co. Ltd.

Particulars	2016-17	2017-18
	Rs.	Rs.
Revenue from operations	2,00,000	2,50,000
Other income	50,000	40,000
Expenses	1,50,000	1,20,000

What are financial statements?

What is trend analysis?

Common size statement is also known as 100 % statement. Do you agree?

What is quick ratio?

Calculate quick ratio of Ananth Constructions Ltd from the information given below.

Particulars	Rs.
Total current liabilities	1,00,000
Total current assets	2,50,000
Inventories	50,000
Prepaid expenses	15,000

From the following information, calculate debt equity ratio:

Balance sheet (Extract) as on 31.03.2018

Particulars	Rs.
I EQUITY AND LIABILITIES
1. Shareholders' funds
(a) Share capital
Equity share capital	1,00,000
(b) Reserves and surplus	60,000
2. Non-current liabilities
Long-term borrowings (Debentures)	80,000
3. Current liabilities
(a) Trade payables	50,000
(b) Other current liabilities
Outstanding expenses	30,000
Total	3,20,000

What does high total assets to debt ratio indicates?

The liquidity of a business firm is measured by its ability to satisfy its long-term obligations as they become due. Comments.

A chemist as per the requirement of law makes use of computer for recording the stock of all the medicines including their manufacturing and expiry dates. What benefits he will get from computerised records also tell the values indicated in the question.