Arjun carries on grocery business and does not keep his books on double entry basis. The following particulars have been extracted from his books:

Other information for the year ending 31-3-2019 showed the following

Total sales during the year were Rs. 85,000. Purchases returns during the year were Rs. 2,000 and sales returns were Rs.1,000. Depreciate plant and machinery by 5%. Provide Rs. 300 for doubtful debts. Prepare trading and profit and loss account for the year ending 31st March, 2019 and a balance sheet as on the date.

From the following particulars of Vellore Recreation Club, prepare Receipts and Payments account for the year ended 31^st March, 2017.

Durai and Velan entered into a partnership agreement on 1st April 2018, Durai contributing Rs. 25,000 and Velan Rs. 30,000 as capital. The agreement provided that:
(a) Profits and losses to be shared in the ratio 2:3 as between Durai and Velan.
(b) Partners to be entitled to interest on capital @ 5% p.a.
(c) Interest on drawings to be charged Durai: Rs. 300 Velan: Rs. 450
(d) Durai to receive a salary of Rs. 5,000 for the year, and
(e) Velan to receive a commission of Rs. 2,000
During the year, the firm made a profit of Rs. 20,000 before adjustment of interest, salary and commission. Prepare the Profit and loss appropriation account.

A partnership firm earned net profits during the last three years as follows:
2016 : Rs. 20,000; 2017 : Rs. 17,000 and 2018 : Rs. 23,000
The capital investment of the firm throughout the above mentioned period has been Rs. 80,000. Having regard to the risk involved, 15% is considered to be a fair return on capital employed in the business. Calculate the value of goodwill on the basis of 2 years purchase of super profit.

Sai and Shankar are partners, sharing profits and losses in the ratio of 5:3. The firm’s balance sheet as on 31st December, 2017, was as follows:

On 31st December, 2017 Shanmugam was admitted into the partnership for 1/4 share of profit with Rs. 12,000 as capital subject to the following adjustments.
(a) Furniture is to be revalued at Rs. 5,000 and building is to be revalued at Rs. 50,000.
(c) Provision for doubtful debts is to be increased to Rs. 5,500
(d) An unrecorded investment of Rs. 6,000 is to be brought into account
(e) An unrecorded liability Rs. 2,500 has to be recorded now.
Pass journal entries and prepare Revaluation Account and capital account of partners after admission.

Muthu, Murali and Manoj are partners in a firm and sharing profits and losses in the ratio 3 : 1 : 2. Their balance sheet as on 31^st December, 2018 is given below:

Manoj retires on 31^st December, 2018 subject to the following conditions:
(i) Muthu and Murali will share profits and losses in the ratio of 3 : 2
(ii) Assets are to be revalued as follows:
Machinery Rs. 43,000, stock Rs. 27,000, debtors Rs. 28,000.
(iii) Goodwill of the firm is valued at Rs. 30,000
(iv) The final amount due to Manoj is not paid immediately
Prepare necessary ledger accounts and the balance sheet immediately after the retirement of Manoj.

Shero Health Care Ltd. invited applications for 3,00,000 equity shares of Rs.10 each at a premium of Rs.2 per share payable as follows:
Rs.3 on application
Rs.5 (including premium) on allotment
Rs.4 on first and final call
There was over subscription and applications were received for 4,00,000 shares and the excess applications were rejected by the directors. All the money due were received. Pass the journal entries.

Calculate trend percentages for the following particulars of Palai Ltd

Prepare Common-size balance sheet of Meena Ltd. as on 31st March, 2018.

Calculate quick ratio: Total current liabilities Rs. 2,40,000; Total current assets Rs. 4,50,000; Inventories Rs. 70,000; Prepaid expenses Rs. 20,000.