From the following details of Abdul who maintains incomplete records, prepare Trading and Profit and Loss account for the year ended 31^st March, 2018 and a Balance Sheet as on the date.

Particulars	1.4.2017 Rs.	31.3.2018 Rs.
Stock	1,00,000	50,000
Sundry debtors	2,50,000	3,50,000
Cash	25,000	40,000
Furniture	10,000	10,000
Sundry creditors	1,50,000	1,75,000

Other details:

	Rs.		Rs.
Drawings	40,000	Cash received from debtors	5,35,000
Discount received	20,000	Sundry expenses	30,000
Discount allowed	25,000	Capital as on 1.4.2017	2,35,000
Cash paid to creditors	4,50,000

From the following particulars of Chennai Sports Club, prepare Receipts and Payments account for the year ended 31^st March, 2018.

Particulars	Rs.	Particulars	Rs.	Rs.
Opening cash balance as on 1.4.2017	10,000	Subscriptions received
Opening bank balance as on 1.4.2017	15,000	2016 – 2017	4,500
Interest paid	5,000	2017 – 2018	65,000
Depreciation	7,000	2018 – 2019	5,000	74,500
Upkeep of grounds	22,500	Tournament expenses		12,500
Life membership fees received	5,500	Tournament fund receipts		15,000
Bats and balls purchased	13,000	Closing balance of cash (31.3.2018)		5,000

Mayiladuthurai Recreation Club gives you the following details. Prepare Receipts and Payments account for the year ended 31^st March, 2019.

Particulars	Rs.	Particulars	Rs.
Opening cash balance	15,000	Salary of watchman	12,000
Opening bank balance	25,000	Club annual day expenses	15,000
Donations received	48,000	Lighting charges	16,500
Sale of old equipment	26,000	Entertainment expenses	13,500
Refreshment charges	13,000	Billiards table purchased	5,000
Club annual day collections	18,000	Expenses of charity show	3,000
Construction of tennis court	7,000	Sale of investments	12,000
Receipts from charity show	4,000	Closing cash balance	12,000
Rent paid	1,000

Bragathish and Naresh are partners who maintain their capital accounts under fixed capital method. From the following particulars, prepare capital accounts of partners.

Particulars	Bragathish Rs.	Naresh Rs.
Capital on 1st April 2018	4,00,000	6,00,000
Current account on 1st April 2018	20,000(Cr.)	15,000(Dr.)
Additional capital introduced during the	50,000	Nil
Drawings made during the year	45,000	60,000
Interest on drawings	2,000	3,000
Share of profit for the year	80,000	1,20,000
Interest on capital	20,000	30,000
Commission	17,000	Nil
Salary	Nil	38,000

From the following information, compute the value of goodwill by capitalising super profit:
(a) Capital employed is Rs. 4,00,000
(b) Normal rate of return is 10%
(c) Profit for 2016: Rs. 62,000; 2017: Rs. 61,000 and 2018: Rs. 63,000

Charles, Muthu and Sekar are partners, sharing profits in the ratio of 3 : 4 : 2. Their balance sheet as on 31^st December, 2018 is as under:

Liabilities	Rs.	Rs.	Asset	Rs.
Capital accounts:			Furniture	20,000
Charles	30,000		Stock	40,000
Muthu	40,000		Debtors	30,000
Sekar	20,000	90,000	Cash at bank	42,000
Workmen compensation fund		27,000	Profit and loss A/c (loss)	18,000
Sundry creditors		33,000
		1,50,000		1,50,000

On 1.1.2019, Charles retired from the partnership firm on the following arrangements.
(i) Stock to be appreciated by 10%
(ii) Furniture to be depreciated by 5%
(iii) To provide Rs. 1,000 for bad debts
(iv) There is an outstanding repairs of Rs. 11,000 not yet recorded
(v) The final amount due to Charles was paid by cheque
Prepare revaluation account, partners’ capital account and the balance sheet of the firm after retirement.

Saranya Ltd. issued 20,000 equity shares of  Rs.10 each to the public at par. The details of the amount payable on the shares are as follows:

On application	Rs.3 per share
On allotment	Rs.4 per share
On first and final call	Rs.3 per share

Application money was received on 30,000 shares. Excess application money was refunded immediately. Pass journal entries to record the above.

From the following information, calculate trend percentages for Mullai Ltd

Particulars	Rs.in lakhs
	2015-16	2016-17	2017-18
Revenue from operations	100	120	160
Other income	20	24	20
Expenses	20	14	40
Income tax	30%	30%	30%

Following is the statement of profit and loss of Maria Ltd. for the year ended 31st March, 2018. Calculate the operating cost ratio.

Statement of Profit and Loss

Particulars	Note No.	Amount Rs.
I. Revenue from operations		8,00,000
II. Other Income		20,000
III. Total revenue (I +II)		8,20,000
IV. Expenses:
Purchases of stock-in-trade		4,50,000
Changes in inventories		-40,000
Employee benefits expenses	1	22,000
Other expenses	2	68,000
Total expenses		5,00,000
V. Profit before tax (III-IV)		3,20,000

Notes to Accounts

Particulars	Amount Rs.
1. Employee benefits expenses
Wages (direct)	10,000
Salaries	12,000
Total	22,000
2. Other expenses	20,000
Selling and distribution expenses	28,000
Loss on sale of fixed asset	20,000
Total	68,000

From the following figures obtained from Arjun Ltd, calculate the trade payables turnover ratio and credit payment period (in days).

Particulars	Rs
Credit purchases during 2018 – 2019	9,50,000
Trade creditors as on 1.4.2018	60,000
Trade creditors as on 31.3.2019	50,000
Bills payable as on 1.4.2018	45,000
Bills payable as on 31.3.2019	35,000