From the following details, calculate the capital as on 31^st December 2018:

	Rs
Capital as on 1st January, 2018	27,500
Goods taken for the personal use of the proprietor	5,000
Profit for the year	10,000

On 1^st April 2017, Ganesh started his business with a capital of Rs.75,000. He did not maintain proper book of accounts. Following particulars are available from his books as on 31.03.2018

Particulars	Rs	Particulars	Rs
Cash	5,000	Debtors	16,000
Stock of goods	18,000	Creditors	9,000
Bills receivable	7,000	Cash at bank	24,000
Furniture	3,000	Bills payable	6,000
Land and Buildings	30,000

During the year he withdrew Rs. 15,000 for his personal use. He introduced further capital of Rs. 20,000 during the year. Calculate his profit or loss. 

How is the amount of credit sale ascertained from incomplete records?

Following are the balances in the books of Thomas as on 31^st March 2019.

Particulars	Rs.	Particulars	Rs.
Sundry creditors	6,00,000	Bills payable	1,20,000
Furniture	80,000	Cash in hand	20,000
Land and building	3,00,000	Bills receivable	60,000
Sundry Debtors	3,20,000	Stock	2,20,000

Prepare a statement of affairs as on 31^st March 2019 and calculate capital as at that date.

From the following particulars of Trichy Educational Society, prepare Receipts and Payments account for the year ended 31^st December, 2018

Particulars	Rs.	Particulars	Rs.
Opening cash balance as on 1.1.2018	20,000	Locker rent received	12,000
Investments made	80,000	Sale of furniture	5,000
Honorarium paid	3,000	General expenses	7,000
Donation received	80,000	Postage	1,000
Audit fees paid	2,000	Subscription received	10,000

How the following items appear in the final accounts of Thoothukudi Young Pioneers Association?. There are one hundred members in the association each paying Rs. 25 as annual subscription. By the end of the year 10 members had not paid their subscription but four members had paid for the next year in advance.

Yuvan foundation is formed to educate and to provide jobs to unemployed women. Identify the values involved.

John is a partner in a firm. He withdraws Rs.1,000 p.m. regularly. Interest on drawings is charged @ 5% p.a. Calculate the interest on drawings using average period, if he draws
(i) at the beginning of every month
(ii) in the middle of every month
(iii) at the end of every month

Sibi and Manoj are partners in a firm. Sibi is to get a commission of 20% of net profit before charging any commission. Manoj is to get a commission of 20% on net profit after charging all commission. Net profit for the year ended 31st December 2018 before charging any commission was Rs. 60,000. Find the commission of Sibi and Manoj. Also show the distribution of profit.

Explain the classification of goodwill.

Rajesh and Ramesh are partners sharing profits in the ratio 3:2. Raman is admitted as a new partner and the new profit sharing ratio is decided as 5:3:2. The following revaluations are made. Pass journal entries and prepare revaluation account.
(a) The value of building is increased by Rs. 15,000.
(b) The value of the machinery is decreased by Rs. 4,000.
(c) Provision for doubtful debt is made for Rs. 1,000.

Sam and Jose are partners in a firm sharing profits and losses in the ratio of 3:2. On 1st April 2018, they admitted Joel as a partner. On the date of Joel’s admission, goodwill appeared in the books of the firm at Rs. 30,000. By assuming fluctuating capital method, pass the necessary journal entry if the partners decide to
(a) write off the entire amount of existing goodwill
(b) write off Rs. 20,000 of the existing goodwill.

Prabu, Ragu and Siva are partners sharing profits and losses in the ratio of 3:2:1. Prabu retires from partnership on 1^st April 2017. The following adjustments are to be made:
(i) Increase the value of building by Rs. 12,000
(ii) Reduce the value of furniture by Rs. 8,500
(iii) A provision would also be made for outstanding salary for Rs. 6,500.
Give journal entries and prepare revaluation account.

Jenifer Ltd. issued 10,000 equity shares of Rs.10 each at par payable on application Rs.3 per share, on allotment Rs.3 per share, on first call Rs.2 per share and on second and final call Rs.2 per share. The issue was fully subscribed and all the amounts were duly received with the exception of 100 shares held by Subbu, who failed to pay the second and final call. His shares were forfeited and reissued to Hema at Rs.7 per share. Journalise the above transactions.

Write a short note on
(i) Rights issue
(ii) Bonus issue

Prepare common-size balance sheet of Sharmila Ltd. and Sangeetha Ltd. as on 31^st March, 2019.

Particulars	Sharmila Ltd	Sangeetha Ltd
	Rs.	Rs.
I EQUITY AND LIABILITIES
Shareholders’ funds	5,00,000	11,00,000
Non-current liabilities	4,00,00	7,00,000
Current liabilities	1,00,000	2,00,000
Total	10,00,000	20,00,000
II ASSETS
Non-current assets	6,50,000	18,00,000
Current assets	3,50,000	2,00,000
Total	10,00,000	20,00,000

Bring out the limitations of ratio analysis.

From the following information of Ashika Ltd., calculate fixed assets turnover ratio:
(i) Revenue from operations during the year were Rs.60,00,000.
(ii) Fixed assets at the end of the year was Rs.6,00,000.

What do you mean by debt collection period?

Write a brief note on accounting vouchers.