From the following particulars calculate total purchases

Particulars	Rs
Sundry creditors on 1st April, 2017	75,000
Bills payable on 1st April, 2017	60,000
Paid cash to creditors	3,70,000
Paid for bills payable	1,00,000
Purchases returns	15,000
Cash purchases	3,20,000
Creditors on 31st March, 2018	50,000
Bills payable on 31st March, 2018	80,000

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, calculate total sales

Particulars	Rs.	Particulars	Rs.
Debtors on 1st April 2018	2,50,000	Bills receivable dishonoured	15,000
Bills receivable on 1st April 2018	60,000	Returns inward	50,000
Cash received from debtors	7,25,000	Bills receivable on 31st March, 2019	90,000
Cash received for bills receivable	1,60,000	Sundry debtors on 31st March, 2019	2,40,000
Bad debts	30,000	Cash sales	3,15,000

Compute capital fund of Karur Social Club as on 31.03.2018

Particulars as on 31.03.2018	Rs.
Furniture	50,000
Buildings	40,000
Subscription outstanding for 2017-18	10,000
Subscription received in advance for 2018-19	5,000
Loan borrowed	10,000
Investments	20,000
Cash in hand	4,000
Cash at bank	6,000

How will the following appear in the final accounts of Karaikudi sports club for the year ending 31^st March, 2019?

Particulars	Rs.
Tournament fund on 1st April 2018	90,000
Tournament fund investment on 1st April 2018	90,000
Interest received on tournament fund investment	9,000
Donation to tournament fund	10,000
Tournament expenses	60,000

From the following balance sheets of Brindha and Praveena who share profits and losses in the ratio of 3:4, calculate interest on capital at 6% p.a. for the year ending 31^st December 2017.

Balance sheet as on 31st December 2017

Liabilities	Rs.	Assets	Rs.
Capital accoun		Sundry assets	80,000
Brindha	30,000
Praveena	40,000
Profit and loss appropriation A/c	10,000
	80,000		80,000

 On 1^st July 2017, Brindha introduced an additional capital of Rs. 6,000 and on 1st October 2017, Praveena introduced Rs. 10,000. Drawings of Brindha and Praveena during the year were Rs. 5,000 and Rs. 7,000 respectively. Profit earned during the year was Rs. 31,000.

Anbu is a partner in a partnership firm. As per the partnership deed, interest on drawings is charged at 12% p.a. During the year ended 31st December 2018 he drew as follows:

Date	Rs
March 1	6,000
June 1	4,000
September 1	5,000
December 1	2,000

Calculate the amount of interest on drawings by using product method. 

Write a brief note on the applications of the provisions of the Indian Partnership Act, 1932 in the absence of partnership deed.

Ahamad and Basheer contribute Rs. 60,000 and Rs. 40,000 respectively as capital. Their respective share of profit is 2:1 and the profit before interest on capital for the year is Rs. 5,000. Compute the amount of interest on capital in each of the following situations:
(i) if the partnership deed is silent as to the interest on capital
(ii) if interest on capital @ 4% is allowed as per the partnership deed
(iii) if the partnership deed allows interest on capital @ 6% per annum.

From the following information relating to Arul enterprises, calculate the value of goodwill on the basis of 2 years purchase of the average profits of 3 years.
(a) Profits for the years ending 31^st December 2016, 2017 and 2018 were Rs. 46,000, Rs. 44,000 and Rs. 50,000 respectively.
(b) A non-recurring income of Rs. 5,000 is included in the profits of the year 2016.
(c) The closing stock of the year 2017 was overvalued by Rs. 10,000.

From the following information relating to Sridevi enterprises, calculate the value of goodwill on the basis of 4 years purchase of the average profits of 3 years.
(a) Profits for the years ending 31st December 2016, 2017 and 2018 were Rs. 1,75,000, Rs. 1,50,000 and Rs. 2,00,000 respectively.
(b) A non-recurring income of Rs. 45,000 is included in the profits of the year 2016.
(c) The closing stock of the year 2017 was overvalued by Rs. 30,000.

Rathna Kumar and Arockia Das are partners in a firm sharing profits and losses in the ratio of 3:2. Their balance sheet as on 31st March, 2017 is as follows:

Liabilities	Rs.	Rs.	Assets	Rs.
Capital accounts:			Buildings	30,000
Rathna Kumar	30,000		Plant	60,000
Arockia Das	50,000	80,000	Furniture	20,000
Profit and loss appropriation A/c		20,000	Debtors	10,000
General reserve		5,000	Stock	15,000
Workmen compensation fund		15,000	Cash at bank	15,000
Sundry creditors		30,000
		1,50,000		1,50,000

David was admitted into the partnership on 1.4.2017. Pass journal entry to distribute the accumulated profits and reserve on admission.

What are the adjustments required at the time of admission of a partner?

Hari, Madhavan and Kesavan are partners, sharing profits and losses in the ratio of 5:3:2. As from 1st April 2017, Vanmathi is admitted into the partnership and the new profit sharing ratio is decided as 4:3:2:1. The following adjustments are to be made.
(a) Increase the value of premises by Rs. 60,000.
(b) Depreciate stock by Rs. 5,000, furniture by Rs. 2,000 and machinery by Rs. 2,500.
(c) Provide for an outstanding liability of Rs. 500.
Pass journal entries and prepare revaluation account. 

Ramya, Sara and Thara are partners sharing profits and losses in the ratio of 5:3:2. On 1^st April 2018, Thara retires and on retirement, the following adjustments are agreed upon:
(i) Increase the value of premises by Rs. 40,000.
(ii) Depreciate stock by Rs. 3,000 and machinery by Rs. 6,500.
(iii) Provide an outstanding liability of Rs. 500
Pass journal entries and prepare revaluation account.

Vinoth, Karthi and Pranav are partners sharing profits and losses in the ratio of 2:2:1. Pranav retires from partnership on 1^st April 2018. The following adjustments are to be made.
(i) Increase the value of land and building by Rs. 18,000
(ii) Reduce the value of machinery by Rs. 15,000
(iii) A provision would also be made for outstanding expenses for Rs. 8,000.
Give journal entries and prepare revaluation account.

Maruthu Ltd. forfeited 150 equity shares of  Rs.10 each for non payment of final call of Rs.4 per share. Of these 100 shares were reissued @ Rs.9 per share. Pass journal entries for forfeiture and reissue.

Write a brief note on calls in advance.

From the following particulars of Siva Ltd, prepare common size income statement for the years ended 31st March, 2016 and 31st March, 2017.

Particulars	2015-16	2016-17
	Rs.	Rs.
Revenue from operations	2,00,000	3,00,000
Other income	25,000	75,000
Expenses	2,50,000	1,50,000
Income tax %	40	40

How is operating profit ascertained?

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.

Explain how to view profit and loss statement in Tally.ERP 9.