CBSE 2025, Set 2 Solutions
CBSE Accountancy (2025)

Gupta, Jain and Singh were partners in a firm sharing profits and losses in the ratio of 3:2:1. On 31st March, 2020, Gupta retired. On the date of retirement ₹4,80,000 became due to him. Jain and Singh agreed to pay Gupta in four equal yearly instalments plus interest @ 10% p.a. on the unpaid balance starting from 31st March, 2021. The firm closes its books on 31st March every year.
Prepare Gupta's Loan Account till it is fully paid.

(b) Arti, Bharti and Gayatri were partners in a firm sharing profits and losses in ratio of 5:3:2. Their Balance Sheet as at 31st March, 2024 was a follows:

(a) Radhika Ltd. invited applications for issuing 40,000 equity shares of ₹100 each at a premium of ₹50 per share. The amount was payable as follows:
On Application and Allotment: ₹40 per share (including ₹10 premium)
On First call: ₹45 per share (including ₹5 premium)
On Second and final call: Balance

Applications for 39,000 shares were received. Allotment was made in full to all the applicants. Dinu, to whom 100 shares were allotted, failed to pay the first call money. His shares were immediately forfeited. The forfeited shares were re-issued thereafter at ₹70 per share fully paid up. The second and final call was not yet made.
Pass necessary journal entries for the above transactions in the books of Radhika Ltd.

(b) Sona Ltd. invited applications for issuing 60,000 equity shares of ₹50 each. The amount was payable as follows:
On Application: ₹20 per share
On Allotment: ₹25 per share
On First and final call: Balance

Applications for 90,000 shares were received. Applications for 10,000 shares were rejected and application money refunded. Shares were allotted on pro-rata basis to the remaining applicants. Excess money received with applications was adjusted towards sums due on allotment. Rahul, to whom 600 shares were allotted, failed to pay the allotment money and his shares were forfeited immediately. Afterwards, the first and final call was made. Mona, to whom 1,000 shares were allotted, failed to pay the first and final call. Her shares were also forfeited.

Pass necessary journal entries in the books of Sona Ltd. for the above transactions.

ABC Ltd. was registered with authorised capital of ₹ 1,00,00,000 divided into 10,00,000 equity shares of ₹10 each. On 1st April, 2024, the company offered to the public for subscription, 1,00,000 shares. Applications for 99,000 shares were received and allotment was made in full to all the applicants. A shareholder holding 9,000 shares failed to pay the final call of ₹3 per share.

Answer the following questions:
(i) The authorised capital of the company is :
(A) ₹10,00,000 (B) ₹9,90,000 (C) ₹1,00,00,000 (D) ₹99,45,000

(ii) The issued capital of ABC Ltd. is:
(A) ₹1,00,000 (B) ₹99,000 (C) ₹94,500 (D) ₹10,00,000

(iii) The amount of calls-in-arrears will be :
(A) ₹27,000 (B) ₹90,000 (C) ₹2,97,000 (D) Nil

(iv) The 'subscribed and fully paid up capital' of ABC Ltd. will be :
(A) ₹10,00,000 (B) ₹9,00,000 (C) ₹99,00,000 (D) ₹98,73,000

(v) 'Subscribed but not fully paid up capital' of ABC Ltd. will be :
(A) ₹98,73,000 (B) ₹8,73,000 (C) ₹90,000 (D) ₹63,000

(vi) The amount of 'Share Capital' presented in the Balance Sheet of ABC Ltd. will be:
(A) ₹9,63,000 (B) ₹98,73,000 (C) ₹9,90,000 (D) ₹1,00,00,000

Statement I: In case of non-financial enterprises, payment of interest and dividends are classified as financing activities, whereas receipt of interest and dividends are classified as investing activities.
Statement II: Investing and financing transactions that require the use of cash or cash equivalents, should be excluded from cash flow statement.

Choose the correct alternative from the following:

(a) The activities that result in changes in the size and composition of the owners' capital and borrowings of the enterprise are called

Ratios that are calculated for measuring the efficiency of operations of business based on effective utilisation of resources are called:

(a) Operating ratio of a company is 63%. Its gross profit ratio is 20%. What will be its operating profit ratio ?

(b) Which of the following transactions will not result in the inflow of cash?

In a graph, the area bounded by different axes is known as:

(a) 'MAJN' for Mangaluru Junction is an example of:

(b) Which of the following is not contained in Account group - Current Liabilities in the Account group of Balance Sheet?

A cell reference that either holds raw or column constant when the formula or function is copied to another location is known as:

(a) Name the accounting information sub-system which deals with payment of wages and salaries of employees.

(a) The following information has been extracted from the books of Ram Lal Ltd.:

Additional Information:
Interim dividend paid during the year was ₹1,20,000.
Calculate Cash Flows from Operating Activities.

(b) When the accumulated data from various sources is processed in one slot it is called:

In an accounting software how many pre-defined account groups exist? State their further division with reference to number and type.

Explain the ways in which accounting software provide data security, safety and confidentiality.

(a) State the steps to prepare a chart.

(b) What is meant by internal margin while using MS Excel ? State the options available.

List any six questions which are often asked when a user wants to be benefited by conditional formatting. Also state how colour scale is used to format cells.

(a) Kishore and Ranjan were partners in a firm sharing profits and losses in the ratio of 3: 2. On 1st April, 2024, their Balance Sheet was as follows:

On the above date, Singh was admitted as a new partner on the following terms:
(i) Singh will bring ₹1,50,000 as his capital and ₹50,000 as his share of goodwill premium.
(ii) The value of stock will be reduced by 10% and Land and Building will be appreciated by 10%.
(iii) Furniture will be revalued at ₹90,000.
(iv) A provision for doubtful debts will be created on sundry debtors at 5%.
(v) Investments worth ₹10,000 not mentioned in the Balance Sheet will be taken into account.
(vi) A creditor of ₹1,000 is not likely to claim his money and is to be written off.

Pass necessary journal entries for the above transactions in the books of the firm on Singh's admission.

(a) Operating ratio is a:

(b) Calculate 'Interest Coverage Ratio' from the following information: Net Profit after Tax: ₹ 6,00,000 Tax Rate: 40% 10% Debentures: ₹ 10,00,000

(b) Which of the following item is shown under the head 'Reserves and Surplus' in the balance sheet of a company?

(b) Which of the following is not a component of Current Assets?

Classify the following items under major heads and sub-heads (if any) in the Balance Sheet of the company as per Schedule-III, Part-I of the Companies Act, 2013:
(i) Loose tools
(ii) Provision for tax
(iii) Computer software

(a) The current ratio of Jack Ltd. is 3.2: 1 and the quick ratio is 1.5: 1. The excess of current assets over quick assets was represented by inventories which were ₹ 68,000. Calculate:
(i) Current Assets
(ii) Quick Assets
(iii) Current Liabilities

VK Ltd. purchased machinery for ₹ 10,00,000 from K Ltd. It paid ₹ 1,00,000 by cheque and the balance was paid by issuing 9% Debentures of ₹ 100 each at a premium of 20%. The number of debentures issued will be:

(a) A company obtained a loan of ₹ 10,00,000 from a bank and issued 12,000, 9% Debentures of ₹ 100 each as collateral security. The company will pass the following journal entry for issue of debentures as collateral security:

(b) Earth Ltd. took over assets of ₹ 8,00,000 and liabilities of ₹ 1,00,000 of Mars Ltd. for a purchase consideration of ₹ 8,00,000. Earth Ltd. issued 9% Debentures of ₹ 100 each at a discount of 20% in full satisfaction of purchase consideration.

Pass necessary journal entries in the books of Earth Ltd.

(b) Radhya Ltd. issued 5,000, 9% debentures of ₹100 each at ₹97 per debenture. The 9% debentures account will be credited by:

(b) From the following information obtained from the books of KVK Ltd., calculate 'Net Assets Turnover Ratio' and 'Debt Equity Ratio':

Assertion (A): A company is a legal entity separate from its members.
Reason (R): A company is an artificial person created by law.

Choose the correct option from the following:

Reeta, Sonu and Ashi were partners in a firm sharing profits and losses in the ratio of 3:2:1. Ashi was guaranteed a minimum profit of ₹ 80,000. Reeta was guaranteed a minimum profit of ₹ 1,50,000. The net profit of the firm for the year ended 31st March, 2024 was ₹ 6,00,000. Any deficiency on account of guarantee was to be borne by Sonu. Ashi's share of profit will be:

Kavi, Naitik and Om were partners in a firm sharing profits in the ratio of 5:3:2. With effect from 1st April, 2024, they decided to share profits equally. On that date, Workmen Compensation Reserve appeared in the books at ₹ 60,000 and the claim on account of workmen compensation was estimated at ₹ 80,000. In the necessary journal entries to record the above, partners' capital accounts will be:

Amit and Sumit were partners in a firm sharing profits in the ratio of 3:2. They admitted Chahat as a new partner for 1/4th share in the profits. Chahat brought ₹ 1,20,000 as her capital and ₹ 40,000 as her share of premium for goodwill. Amit and Sumit withdrew half of their share of premium for goodwill. The amount withdrawn by Amit was:

(b) Debentures where the principal amount is not repayable during the life of the company are known as:

2,000 shares of ₹ 10 each, ₹ 8 called up, were forfeited for the non-payment of first call of ₹ 2 per share. On forfeiture, Share Capital Account will be debited by:

(a) The ratio in which the continuing partners acquire the outgoing partner's share is called:

(b) Decrease in liability at the time of retirement of a partner is credited to:

Anu and Kanu were partners in a firm sharing profits in the ratio of 3:2. Anu withdrew ₹ 10,000 per month at the end of each month and Kanu withdrew ₹ 20,000 per quarter at the beginning of each quarter. Interest on drawings was to be charged @ 10% p.a. The interest charged on Kanu's drawings was:

(a) The primary document for incorporating a company is:

(b) Interest on Calls in Arrears is charged according to Table F of the Companies Act, 2013 at:

A, B and C were partners in a firm sharing profits in the ratio of 2:2:1. C died on 30th June, 2023. According to the partnership deed, C's share of profit till the date of his death was to be calculated on the basis of sales. Sales for the previous year ended 31st March, 2023 was ₹ 10,00,000 and profit was ₹ 1,00,000. Sales from 1st April, 2023 to 30th June, 2023 were ₹ 3,00,000. C's share of profit till the date of his death was:

Which of the following is not transferred to Realisation Account at the time of dissolution of a partnership firm?

Match the items in Column I with those in Column II in the context of Retirement of a partner and select the correct option:

(a) Subscribed capital is:

(b) Maximum discount that can be allowed at the time of reissue of forfeited shares is equal to:

Minimum number of partners in a firm can be:

Nita, Sumit and Punit were partners in a firm sharing profits in the ratio of 5:3:2. Punit retired and his share was acquired by Nita and Sumit in such a way that their new profit sharing ratio became 3:2. The gaining ratio of Nita and Sumit will be:

A and B were partners in a firm sharing profits and losses in the ratio of 3:2. On 1st April, 2024, they admitted C as a new partner for 1/4th share in the profits. C brought ₹ 1,00,000 as his capital and ₹ 50,000 as his share of premium for goodwill in cash. At the time of C's admission, goodwill was appearing in the books of the firm at ₹ 40,000.

Pass the necessary journal entries in the books of the firm on C's admission.

(a) X, Y and Z were partners in a firm sharing profits in the ratio of 5:3:2. X guaranteed that Z's share of profit will not be less than ₹ 50,000 in any year. The firm earned a profit of ₹ 1,50,000 for the year ended 31st March, 2024.

Prepare Profit and Loss Appropriation Account for the year ended 31st March, 2024.

(b) R, S and T were partners in a firm. After the accounts of the partnership had been drawn up and the books closed off, it was discovered that the profit for the year ended 31st March, 2024 amounting to ₹ 3,00,000 had been distributed equally. The partnership deed provided for the following:
(i) Interest on capital was to be allowed @ 10% p.a.
(ii) A salary of ₹ 50,000 p.a. was to be allowed to R.
The capitals of R, S and T on 1st April, 2023 were ₹ 2,00,000, ₹ 1,50,000 and ₹ 1,00,000 respectively.

Pass the necessary adjusting journal entry to rectify the above errors.

The capital of the firm of Rajat and Karan is ₹ 10,00,000 and the market rate of interest is 15%. Annual salary of Rajat and Karan is ₹ 10,000 and ₹ 30,000 respectively. The profits for the last three years were ₹ 2,40,000, ₹ 2,60,000 and ₹ 2,50,000.

Goodwill of the firm is to be valued on the basis of two years purchase of last three years' average super profits. Calculate the goodwill of the firm.

(a) Venus Ltd. took over assets of ₹ 10,00,000 and liabilities of ₹ 2,00,000 of Pluto Ltd. for a purchase consideration of ₹ 7,50,000. Venus Ltd. issued 8% Debentures of ₹ 100 each at a premium of 25% in full satisfaction of purchase consideration.

Pass necessary journal entries in the books of Venus Ltd.

Pass necessary journal entries for issue of debentures for the following transactions:
(i) L Ltd. issued 5,000, 8% debentures of ₹ 100 each at a discount of 5%, redeemable at a premium of 10%.
(ii) M Ltd. issued 4,000, 9% debentures of ₹ 100 each at a premium of 10%, redeemable at a premium of 5%.

A, B and C were partners in a firm sharing profits and losses in the ratio of 3:2:1. B died on 30th June, 2023. At the time of his death, B's capital was ₹ 3,00,000. According to the partnership deed, his legal representatives are entitled to the following:
(i) Interest on capital @ 10% p.a.
(ii) His share in the profit upto the date of death to be calculated on the basis of last year's profit. Last year's profit was ₹ 1,20,000.
(iii) His share of goodwill to be calculated on the basis of 1.5 years purchase of average profits of last three years. The profits for the last three years were ₹ 1,20,000; ₹ 80,000 and ₹ 1,00,000.

Prepare B's Capital Account to be rendered to his executors.

Read the following hypothetical text and answer the questions:

XYZ Ltd. was registered with an authorised capital of ₹ 20,00,000 divided into 2,00,000 equity shares of ₹ 10 each. The company offered 1,50,000 shares to the public for subscription. The amount was payable as follows:
On application: ₹ 3 per share
On allotment: ₹ 4 per share
On first and final call: ₹ 3 per share
Applications were received for 2,10,000 shares. Applications for 30,000 shares were rejected and pro-rata allotment was made to the remaining applicants. Excess application money was adjusted towards sums due on allotment.
Raman, who was allotted 2,400 shares failed to pay the first and final call money. His shares were forfeited. All the forfeited shares were reissued at ₹ 8 per share fully paid up.

Answer the following questions based on the above:
(i) The number of shares applied by Raman was:
(A) 2,400 (B) 3,000 (C) 2,880 (D) 3,200

(ii) The amount of 'Calls in Arrears' on Raman's shares was:
(A) ₹ 8,640 (B) ₹ 7,200 (C) ₹ 9,600 (D) ₹ 4,800

(iii) The amount of share forfeiture on Raman's shares was:
(A) ₹ 7,200 (B) ₹ 24,000 (C) ₹ 16,800 (D) ₹ 12,000

(iv) The amount transferred to 'Capital Reserve Account' was:
(A) ₹ 12,000 (B) ₹ 16,800 (C) ₹ 24,000 (D) ₹ 7,200

(v) The minimum price at which the company must have reissued the forfeited shares was:
(A) ₹ 10 (B) ₹ 8 (C) ₹ 7 (D) ₹ 3

(vi) The maximum discount which the company could have allowed on reissue of forfeited shares was:
(A) ₹ 3 (B) ₹ 7 (C) ₹ 10 (D) ₹ 8

Pass the necessary journal entries for the following transactions on the dissolution of a partnership firm of A, B and C after various assets (other than cash) and external liabilities have been transferred to Realisation Account:
(i) An unrecorded asset of ₹ 40,000 was taken over by A at ₹ 30,000.
(ii) Creditors of ₹ 60,000 accepted machinery of ₹ 50,000 in full settlement of their claim.
(iii) Realisation expenses of ₹ 5,000 were paid by the firm on behalf of partner B.
(iv) Partner C's loan of ₹ 30,000 was paid ₹ 32,000.
(v) Profit on realisation ₹ 45,000 was distributed among the partners A, B and C in the ratio of 2:2:1.

(a) Alpha Ltd. invited applications for issuing 50,000 equity shares of ₹ 10 each at a premium of ₹ 2 per share. The amount was payable as follows:
On application: ₹ 4 per share
On allotment: ₹ 5 per share (including premium)
On first and final call: ₹ 3 per share

Applications were received for 70,000 shares. Applications for 10,000 shares were rejected and pro-rata allotment was made to the remaining applicants. Excess money received on application was adjusted towards sums due on allotment. Mohan, who had applied for 1,200 shares, failed to pay the allotment and call money. His shares were forfeited. All the forfeited shares were reissued at ₹ 9 per share fully paid up.

Pass necessary journal entries in the books of Alpha Ltd.

(b) Pass necessary journal entries for forfeiture and reissue of forfeited shares in the following cases:
(i) Beta Ltd. forfeited 2,000 shares of ₹ 10 each issued at 10% premium for the non-payment of allotment money of ₹ 4 per share (including premium ₹ 1) and first and final call of ₹ 3 per share. Out of these, 1,500 shares were reissued at ₹ 8 per share fully paid up.
(ii) Gamma Ltd. forfeited 5,000 shares of ₹ 10 each on which the first call of ₹ 2 per share was not received and the second and final call of ₹ 2 per share was not yet called. Out of these, 3,000 shares were reissued to Amit as fully paid up for ₹ 9 per share.

(a) Suman and Raman were partners in a firm sharing profits and losses in the ratio of 3:2. Their Balance Sheet on 31st March, 2024 was as follows:

(b) Geeta, Sita and Meeta were partners sharing profits and losses in the ratio of 5:3:2. Their Balance Sheet on 31st March, 2024 was as follows:

Statement-I: Sale of marketable securities at par will not result in any cash flow.
Statement-II: Marketable securities are cash equivalents.

Choose the correct option from the following:

(a) The formula for calculating Interest Coverage ratio is:

(a) Calculate 'Current Ratio' and 'Quick Ratio' from the following information: Working capital: ₹ 2,00,000 Inventories: ₹ 1,20,000 Total Debt: ₹ 9,00,000 Non-Current Liabilities: ₹ 6,00,000

(b) Null value is the special value which represents:

To see all available shape styles which of the following button is clicked?

(a) A piece of information shown in a graph which is assigned to the data series is known as:

(b) Identify the type of code used by a trading company Ms. Ahana Ltd.: Codes: CA005, CA006, CA007. Accounts: Super Ltd., Regina Ltd., Nasir & Sons Ltd.

The software of computerised accounting system can be used for any size of business and type of organization as it enables changing the volume of data processing in tune with the change in the size of business. Which feature of Computerised Accounting System is being highlighted in above lines?

Name the error which occurs when Excel doesn't recognize a 'Text' formula. Give any two solutions to correct it.

State the advantages of 'Pivot Table' report.

(a) Write down the steps to 'Add a field in Pivot Table'.

(b) What is meant by 'Accounting System'? Describe its structural aspects.

Explain the sequence of steps required to add '3-D effects' to an already created Pie chart in Excel.

On 1st April, 2024, the Balance Sheet of Radha and Mohan showed a loan of ₹ 10,000 given by Mohan to the firm. The firm was dissolved on this date. Mohan's loan will be discharged by crediting which of the following account?

Which of the following events does not result in reconstitution of a firm ?

A, B and C were partners in a firm sharing profits and losses in the ratio of 8:5:3. It was decided that with effect from 1st April, 2024, profits and losses will be shared in the ratio of 6:5:5. Due to change in the profit sharing ratio, A's gain or sacrifice will be :

X Ltd. invited applications for issuing 90,000 equity shares of ₹100 each. The amount per share was payable as follows:
On Application: ₹20
On Allotment: ₹50
On First and final call: Balance
Applications for 2,00,000 shares were received. An applicant who had applied for 5,000 shares paid the entire share money with the application. The total application money received by the company was:

(a) On 1st April, 2023, Viya Ltd. issued 20,000, 10% debentures of ₹100 each at a premium of 10%. The total amount of interest on debentures for the year ended 31st March, 2024 will be:

Paratigm Ltd. issued 40,000, 11% debentures of ₹100 each at a discount of 5%, redeemable at a premium. On issue of these debentures 'Loss on Issue of Debentures Account' was debited with ₹4,00,000. The amount of premium on redemption of debentures was:

On the dissolution of the partnership firm of Raman, Hari and Suresh, realisation expenses ₹17,000 were paid by a debtor of ₹75,000 on behalf of the firm. The remaining amount was received from him along with interest of ₹2,000 for delayed payment. Realisation Account will be ________ by ________.

Manoj, Dilip and Rajinder were partners in a firm sharing profits and losses in the ratio of 7:3:5. Their fixed capitals were ₹10,00,000, ₹8,00,000 and ₹6,00,000, respectively. The partnership deed provided for interest on partners' drawings @ 12% p.a. Which of the following accounts will be debited for charging interest on partners' drawings?

(a) Sudha, a partner withdrew ₹12,000 on 31st October, 2023 for her personal use. Interest on drawings is charged @6% p.a. The interest on Sudha's drawings for the year ended 31st March, 2024 will be:

(b) The partnership deed should be prepared as per the provisions of which of the following Acts?

(a) Jeeta Ltd. forfeited 300 shares of ₹100 each for the non-payment of final call of ₹10 per share. The amount credited to share forfeiture account will be :

(b) Meeta Ltd. invited applications for issuing 30,000 equity shares of ₹10 each. Applications for 29,500 shares were received. Allotment was made in full. A shareholder holding 100 shares failed to pay the first call of ₹2 per share. His shares were forfeited. The second call of ₹3 per share was not yet made. The amount debited to share capital account, on the forfeiture of shares will be :

John and Harry were partners in a firm sharing profits and losses in the ratio of 2: 1. On 1st April, 2023, they admitted Dinesh as a new partner 1/4th share in the profits of the firm with a guarantee that his share in the profits shall be at least ₹1,00,000. The net profit of the firm for the year ended 31st March, 2024 was ₹2,80,000. John's share in the profits of the firm after giving the guaranteed amount of profit to Dinesh will be :

On dissolution of a firm, there was an unrecorded asset of ₹15,000 which was taken over by a partner at ₹13,000. Partner's capital account will be debited by:

(a) Rani, Maharani and Laxmi were partners in a firm sharing profits and losses in the ratio of 3:3:2. On 1st April, 2024 they admitted Reena as a new partner for 1/5 share in the profits of the firm. Reena acquired her share from Rani and Maharani in the ratio of 3: 2. The new profit sharing ratio between Rani, Maharani, Laxmi and Reena will be :

The debentures that can be transferred by way of delivery and the company does not keep any record of the debentures holders are called :

(b) Ravita, Savita, Kavita and Babita were partners in a firm sharing profits and losses in the ratio of 5: 3:2:2. On 1st April, 2024 Savita retired and her share was acquired equally by the remaining partners. The new profit sharing ratio between Ravita, Kavita and Babita will be :

There are two statements Assertion (A) and Reason (R):
Assertion (A): The partners' fixed capital accounts always show a credit balance, which shall remain the same (fixed) year after year unless there is any addition or withdrawal of capital.
Reason (R): When capitals are fixed, then various items like share of profit or loss, interest on capital, drawings, interest on drawings, etc. are recorded in partners' capital accounts.

Choose the correct option from the following

Sona and Mona were partners in a firm sharing profits and losses in the ratio of 4: 3. On 1st April, 2024, they admitted Leena as a new partner. The new profit sharing ratio on Leena's admission was 2:3:1. Sona's sacrifice on Leena's admission was:

Daya and Deena were partners in a firm sharing profits and losses in the ratio of 3: 1. On 1st April, 2023, their capital accounts showed balances of ₹5,00,000 and ₹6,00,000 respectively. The partnership deed provided for interest on capital @ 12% p.a. Show the treatment of interest on capital in the following cases if :
(i) During the year ended 31st March, 2024, the firm earned a profit of ₹ 2,00,000.
(ii) During the year ended 31st March, 2024, the firm earned a profit of ₹ 66,000.

(a) Abha and Sara were partners in a firm. Their capitals were: Abha ₹3,00,000 and Sara ₹2,00,000. The normal rate of return in similar business is 10%. The profits of the firm of Abha and Sara for the last three years were: 2021-22 ₹60,000; 2022-23 ₹90,000 and 2023-24 ₹1,20,000.
Calculate goodwill of the firm on the following basis:
(i) Four years purchase of the average profits for the last three years.
(ii) Capitalisation of super-profits.

(b) Vijay, Ravi and Raman were partners in a firm sharing profits and losses in the ratio of 5:3:2. On 1st April, 2024, they admitted Kamal as a new partner for 1/10th share in the profits. It was decided that new profit sharing ratio will be 4:2:3:1. On Kamal's admission, the goodwill of the firm was valued at ₹6,00,000. Kamal brought his share of goodwill premium in cash.
(i) Calculate the sacrificing ratio.
(ii) Pass necessary journal entries for the treatment of goodwill on Kamal's admission.
Show your working notes clearly.

Aman, Govind and Guru were partners in a firm sharing profits and losses in the ratio of 3:2:1. Sudarshan was admitted for 1/4th share in the profits of the firm. The new profit sharing ratio between Aman, Govind, Guru and Sudarshan was agreed at 9:5:4:6. The total capital of the new firm was agreed upon as ₹3,60,000. Sudarshan will bring 1/4th of this as his capital. The capitals of the other partners were also to be adjusted according to the new profit sharing ratio. The capitals of Aman, Govind and Guru after all adjustments stood at ₹60,000, ₹80,000 and ₹45,000 respectively.
Calculate the new capitals of Aman, Govind and Guru. Also pass necessary journal entries for the above transactions in the books of the firm.

Sun and Moon were partners in a firm sharing profits and losses equally. Their fixed capitals were ₹5,00,000 each. After the accounts for the year ended 31st March, 2024 were prepared, it was discovered that interest on capital @ 10% p.a. was not credited to the partners' current accounts as provided in the partnership deed. The rectifying adjustment entry for the same will be :

Dev, Santosh and Arti were partners in a firm sharing profits and losses in the ratio of 1:2:2. On 31st March, 2024, their Balance Sheet was as follows:

Which of the following will result in cash flow from investing activities?

From the following information, calculate Cash flow from Operating Activities:

(b) The following information has been extracted from the books of Lata Ltd.:

(b) Which of the following is not a purpose of analysis of financial statements?

From the following information of VN Ltd., prepare a Comparative Statement of Profit and Loss for the years ended 31st March, 2023 and 31st March, 2024:

From the following Balance Sheet of Vinayak Ltd., prepare a Comparative Balance Sheet.
Balance Sheet of Vinayak Ltd. as at 31st March, 2024

Under which major headings and sub-headings (if any) will the following items be shown in the Balance Sheet of a company as per Schedule III, Part I of the Companies Act, 2013?
(a) Prepaid Insurance
(b) Unpaid Dividend
(c) Public Deposits

On 1st April, 2023, YK Ltd. issued 20,000, 9% debentures of ₹100 each at a premium of 5%, redeemable after five years at par. The company closes its books on 31st March every year. Interest on debentures is payable half yearly on 30th September and 31st March every year.
Pass necessary journal entries in the books of the company for issue of debentures and payment of interest for the year ending 31st March, 2024.

(a) KM Ltd. acquired assets worth ₹7,20,000 and took over liabilities of ₹2,00,000 of LS Ltd. for a purchase consideration of ₹ 9,60,000. KM Ltd. issued 12% debentures of ₹ 100 each at a discount of 4% in favour of LS Ltd. for payment of purchase consideration.
Pass necessary journal entries for the above transactions in the books of KM Ltd.

(b) Varsha Ltd. invited applications for issuing 2,000, 12% debentures of ₹100 each at a premium of ₹30 per debenture. Full amount was payable on application. Applications were received for 5,000 debentures. Applications for 3,000 debentures were rejected and application money was refunded. Debentures were allotted to the remaining applicants.
Pass necessary journal entries for the above transactions in the books of Varsha Ltd.