From the following details, calculate the missing figure:

	Rs
Capital as on 1st April, 2017	2,50,000
Capital as on 31st March, 2018	2,75,000
Additional capital introduced during the year	30,000
Profit for the year	15,000
Drawings during the year	?

State the procedure for calculating profit or loss through statement of affairs.

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 annual subscription is dealt with in the final accounts of not–for–profit organisation?

How will the following appear in the final accounts of Vedaranyam Sports club?

	Rs.
Opening stock of bats and balls	3,000
Purchase of bats and balls during the year	17,000
Sale of old bats and balls	2,000
Closing stock of bats and balls	4,000

A and B contribute Rs. 4,00,000 and Rs. 2,00,000 respectively as capital. Their respective share of profit is 3:2 and the profit before interest on capital for the year is Rs. 27,000. 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 @ 3% is allowed as per the partnership deed
(iii) if the partnership deed allows interest on capital @ 5% p.a.

State the features of partnership.

From the following balance sheets of Rajan and Devan who share profits and losses 2:1, calculate interest on capital at 6% p.a. for the year ending 31st December, 2018.

Balance sheet as on 31st December, 2018

Liabilities	Rs.	Rs.	Assets	Rs.
Capital accounts:			Sundry assets	2,20,000
Rajan	1,00,000
Devan	80,000	1,80,000
Profit and loss appropriation A/c		40,000
		2,20,000		2,20,000

On 1st April, 2018, Rajan introduced an additional capital of Rs. 40,000 and on 1st September, 2018, Devan introduced Rs. 30,000. Drawings of Rajan and Devan during the year were Rs. 20,000 and Rs. 10,000 respectively. Profit earned during the year was Rs. 70,000. 

Explain the procedure for preparation of final accounts of a partnership firm.

The following are the profits of a firm in the last five years:
2014: Rs. 4,000; 2015: Rs. 3,000; 2016: Rs. 5,000; 2017: Rs. 4,500 and 2018: Rs. 3,500
Calculate the value of goodwill at 3 years purchase of average profits of five years.

Calculate the value of goodwill at 5 years purchase of super profit from the following information:
(a) Capital employed: Rs. 1,20,000
(b) Normal rate of profit: 20%
(c) Net profit for 5 years:
2014: Rs. 30,000; 2015: Rs. 32,000; 2016: Rs. 35,000; 2017: Rs. 37,000 and 2018: Rs. 40,000
(d) Fair remuneration to the partners Rs. 2,800 per annum.

How is the value of goodwill calculated under the capitalisation method?

How is goodwill calculated under the weighted average profit method?

Amudha and Bhuvana are partners who share profits and losses in the ratio of 5:3. Chithra joins the firm on 1st January, 2019 for 3/8 share of profits and brings in cash for her share of goodwill of Rs. 8,000. 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.

Deepak, Senthil and Santhosh are partners sharing profits and losses equally. They admit Jerald into partnership for 1/3 share in future profits. The goodwill of the firm is valued at Rs.45,000 and Jerald brought cash for his share of goodwill. The existing partners withdraw half of the amount of their share of goodwill. Pass necessary journal entries for adjusting goodwill on the assumption that the fluctuating capital method is followed.

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.

Rajan, Suman and Jegan were partners in a firm sharing profits and losses in the ratio of 4:3:2. Suman retired from partnership. The goodwill of the firm on the date of retirement was valued at Rs. 45,000. Pass necessary journal entries for goodwill on the assumption that the fluctuating capital method is followed.

Muthu was holding 20 equity shares of Rs.10 each on which he paid Rs.2 on application but could not pay Rs.3 on allotment and Rs.1 on first call. Directors forfeited the shares after the first call. Give journal entry for recording the forfeiture of shares.

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

From the following particulars of Kumar Ltd, prepare a common-size income statement for the year ended 31^st March, 2018.

Particulars	2017-18
	Rs.
Revenue from operations	5,00,000
Other income	20,000
Expenses	3,00,000

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

Write a short note on
a) Comparative statement
b) Common-size statement

From the given information calculate the inventory turnover ratio and inventory conversion period (in months) of Sania Ltd.

Particulars	Rs.
Revenue from operations	1,90,000
Inventory at the beginning of the year	40,000
Inventory at the end of the year	20,000
Purchases made during the year	90,000
Carriage inwards	10,000

What is Credit payment period?

Mention the commonly used voucher types in Tally.ERP 9.