Find out credit sales from the following information:

	Rs.
Debtors on 1st January 2018	40,000
Cash received from debtors	1,00,000
Discount allowed	5,000
Sales returns	2,000
Debtors on 31st December 2018	Debtors on 31st December 2018

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

What is a statement of affairs?

How will the following appear in the final accounts of a club for the year 2017 – 2018?

Particulars	Rs.
Prize fund on 1.4.2017	60,000
Prize fund investment on 1.4.2017	60,000
Interest received on prize fund investment	6,000
Prizes distributed	8,000
Donation received for prize fund	12,000

Write a short note on life membership fees.

Can the balance in receipts and payments account be treated as income of the period? If it shows credit balance  what does it mean?

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.

What is drawing?

Salary or commission paid to a partner is debited to profit and loss appropriation account and not to profit and loss account. Why?

The following are the profits of a firm in the last five years:
2014: Rs. 10,000; 2015: Rs. 11,000; 2016: Rs. 12,000; 2017: Rs. 13,000 and 2018: Rs. 14,000
Calculate the value of goodwill at 2 years purchase of average profit of five years.

What is Annuity?

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.

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

Vimala and Kamala are partners, sharing profits and losses in the ratio of 4:3. Vinitha enters into the partnership and she acquires 1/14 from Vimala and 1/14 from Kamala. Find out the new profit sharing ratio and sacrificing ratio.

Aparna and Priya are partners who share profits and losses in the ratio of 3:2. Brindha joins the firm for 1/5 share of profits and brings in cash for her share of goodwill of Rs.10,000. Pass necessary journal entry for adjusting goodwill on the assumption that the fluctuating capital method is followed and the partners withdraw the entire amount of their share of goodwill.

What is meant by admission of a partner?

What is gaining ratio?

Sudha Ltd. offered 1,00,000 shares of Rs.10 each to the public payable Rs.3 on application, Rs.4 on share allotment and the balance when required. Applications for 1,40,000 shares were received on which the directors allotted as:
Applicants for 60,000 shares - Full
Applicants for 75,000 shares - 40,000 shares (excess money will be utilised for allotment)
Applicants for 5,000 shares - Nil
All the money due was received. Pass journal entries upto the receipt of allotment.

What is prorata allotment?

From the following balance sheet of Chandra Ltd, prepare comparative balance sheet as on 31st March 2016 and 31^st March 2017.

Particulars	31st March 2016	31st March 2017
	Rs.	Rs.
I EQUITY AND LIABILITIES
Shareholders’ fund	1,00,000	2,60,000
Non-current liabilities	50,000	60,000
Current liabilities	25,000	30,000
Total	1,75,000	3,50,000
II ASSETS	1,00,000	2,00,000
Current assets	75,000	1,50,000
Total	1,75,000	3,50,000

Following is the balance sheet of Magesh Ltd. as on 31st March, 2019:

Particulars	Rs.
I EQUITY AND LIABILITIES
1. Shareholders’ funds
Equity share capital	2,00,000
2. Non-current liabilities
Long term borrowings	50,000
3. Current liabilities
(a) Short-term borrowings	17,000
(b) Trade payables	25,000
(c) Other current liabilities
Expenses payable	3,000
(d) Short-term provisions	5,000
Total	3,00,000
II ASSETS	Rs.
1. Non-current assets
Fixed assets
(a) Tangible assets	1,50,000
(b) Trade receivables	70,000
(c) Cash and cash equivalents	30,000
(d) Other current assets
Prepaid expenses	5,000
Total	3,00,000

Calculate:
(i) Current ratio
(ii) Quick ratio

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

How does ratio analysis become less effective due to does ratio changes?

What is Accounting Information System (AIS)?

What is MIS?