M/s Saniya sport equipment does not keep proper records. From the following information, find out profit or loss and also prepare balance sheet for the year ended 31^st December 2017.

Drawings Rs. 10,000 per month for personal use, additional capital introduced during the year Rs. 2,00,000. A bad debts Rs. 2,000 and a provision of 5% it to be made on debtors. Outstanding salary 2,400, prepaid insurance Rs. 700, depreciation charged on furniture @ 10% per annum.

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

Kala is a partner in a partnership firm. As per partnership deed, interest on drawings is charged at 12% p.a. During the year ended 31^stDecember 2018. She drew as follows.

Calculate the amount of interest on drawings by using produce method

The profit and losses of a firm for the last four years were as follows:
2015: Rs.20,000; 2016; Rs. 25,000;
2017; Rs.3,000(loss) 2018; Rs.18,000
You are required to calculate the amount of goodwill on the basis of 5 years purchase of average profit of the last 4 years.

Kokila and Mala were sharing profits in the ratio of 4:3. Chandra was admitted in the business as a partner with \(\frac{3}{7}\)th share in the profits of the firm which she takes \(\frac{2}{7}\) th from Kokila and \(\frac{1}{7}\) th from Mala. Find out New profit Ratio and the sacrificing ratio.

Mukil, Mohit and Sonu are partners sharing profit in the ratio 3:2: 1. Mukil retires from the partnership.
In order to settle his claim, the following revaluation of assets and liabilities was agreed upon:
(i) The value of Machinery is increased by Rs. 25,000.
(ii) The value of Investment-is-increased by Rs 2,000.
(ill) A Provision for outstanding bill standing in the books at Rs.1,000 is now not required.
(iv) The value of Land and Building is decreased by Rs.12,000.
Give journal entries and prepare Revaluation account

Thai Ltd. issued 50,000 equity shares of Rs.10 each, payable Rs.5 on application, Rs.2 on allotment, first call and n on final call. All the shares are subscribed and amount was duly received. Pass Journal entries.

Prepare common-size statement of financial position of Raheem Ltd as on 31^st March 2016 and 31^st March 2018.

From the following Balance Sheet of Ambika Ltd. as on 31.03.2017 calculate
(i) Debt-equity ratio
(ii) Proprietary ratio
(iii) Capital gearing ratio