X Ltd. redeemed 100, 6% Debentures of Rs. 100 each by converting them into Equity Shares of Rs. 100 each. The 6% Debentures were redeemable at 10% premium for which the Equity Shares were issued at 25% premium. Pass the necessary Journal entries for the redemption of above-mentioned debentures in the books of X Ltd. 

What is meant by a 'Common Size Statement’? 

Give the meaning of 'Cash Flow'. 

State with reason whether deposit of cash into Bank will result into inflow, outflow or no flow of cash. 

List the items which are shown under the heading current liabilities and provisions as per Schedule VI Part-I of the Companies' Act, 1956. 

Prepare a Comparative Income Statement from the following information.

                                                                                  2009                             2010

                                                                                   Rs.                                 Rs.                                                                        

Sales                                                                           10,00,000                   12,50,000
Cost of goods sold                                                      5,00,000                      6,50,000
Carriage inwards                                                          30,000                         50,000
Operating Expenses                                                     50,000                          60,0000
Income Tax                                                                   50%                              50%

17.

On the basis of the following information, calculate:

(i) Debt-Equity Ratio and

(ii) Working Capital Turnover Ratio

Information:                                                                            Rs.

Net Sales                                                                          60,00,000

Cost of goods sold                                                              45,00,000

Other current assets                                                          11,00,000

Current liabilities                                                             4,00,000

Paid up share capital                                                          6,00,000

6% Debentures                                                                 3,00,000

9% Loan                                                                           1,00,000

Debenture Redemption Reserve                                          2,00,000

Closing Stock                                                                   1,00,000 

Pass the necessary Journal entries for the following transactions on the dissolution of the firm of P and Q after the various assets (other than cash) and outside liabilities have been transferred to Realisation Account.
(i) Bank Loan Rs. 12,000 was paid.
(ii) Stock worth Rs. 16,000 was taken over by partner Q.
(iii) Partner P paid a creditor Rs. 4,000.
(iv) An asset not appearing in the books of accounts realised Rs. 1,200.
(v) Expenses of realisation Rs. 2,000 were paid by partner Q.
(vi) Profit on realisation Rs. 36,000 was distributed between P and Q in 5:4 ratio.

M, N and O were partners in a firm sharing profits and losses equally. Their Balance Sheet on 31-12-2009 was as follows:

N died on 14th March, 2010. According to the Partnership Deed, executors of the deceased partner are entitled to:

(i) Balance of partner's capital account.
(ii) Interest on Capital @ 5% p.a.
(iii) Share of goodwill calculated on the basis of twice the average of past three year's profits and
(iv) Share of profits from the closure of the last accounting year till the date of death on the basis of twice the average of three completed year's profits before death.
Profits for 2007, 2008 and 2009 were Rs. 80,000, Rs. 90,000, Rs. 1,00,000 respectively. Show the working for deceased partner's share of goodwill and profits till the date of his death. Pass the necessary journal entries and prepare N's Capital Account to be rendered to his executors. 

On 31-3-2010 the Balance Sheet of W and R who shared profits in 3:2 ratio was as follows:

On this date B was admitted as a partner on the following conditions:
(a) 'B' will get 4/15th share of profits.
(b) 'B' had to bring Rs. 30,000 as his capital to which amount other Partners capitals shall have to be adjusted.
(c) He would pay cash for his share of goodwill which would be based on 2½ years purchase of average profits of past 4 years.
(d) The assets would be revalued as under:
Sundry debtors at book value less 5% provision for bad debts. Stock at Rs. 20,000, Plant and Machinery at Rs. 40,000.
(e) The profits of the firm for the years 2007, 2008 and 2009 were Rs. 20,000; Rs. 14,000 and Rs. 17,000 respectively.
Prepare Revaluation Account, Partner's Capital Accounts and the Balance Sheet of the new firm.