Question : Show how will you deal with the following items in the final accounts of a club :Rs.

Sports Fund 15,000

Sports Fund Investments 30,000

Income from Sports Fund Investments 1500

Donations for Sports Fund 12,000

Sports Prizes awarded

Question : Information:

Capital accounts of partners N and V = Rs  5,00,000 each. Balance in the current account of N and V Rs 50,000 and Rs 40,000 respectively. Bank loan = Rs 10,00,000. Goodwill Rs 50,000 investment Rs 25,000. Advertisement suspense = Rs 15,000. Based

Question : Hari, Mohan and Sohna were partners sharing profit and losses in the ratio of 2:2:1. They decided to share future profit in the ratio of 7:5:3 with effect from 1st April 2021. Their balance sheet as on that date showed a balance of Rs 45,000 in an advertisement suspense

Question : At the time of admission of a partner, what will be the effect of the following information? Balance in Workmen compensation reserve Rs. 1,40,000. Claim for workmen compensation Rs. 1,10,000.

Question : On 1st April 2013, a Limited Company issued 11% Rs. 10,00,000 debentures at a discount of 6%, repayable at the end of 5 years at par. Assume that the accounts are closed on 31st March each year. Calculate the amount of discount to be written off at the end of March