Accounting Questions

________ is the amount received as per the will of a deceased person.

Extract of Receipt and Payment Account for the year ended on March 31, 2021 is given.Calculate the amount of Stationery to be shown in Income and Expenditure A/c.Payments for Stationery: Rs. $23,000$
Additional Information:

Match List I with List II

Choose the correct answer from the options given below:

How will you deal with the following items while preparing for the Bombay Women Cricket Club, its Income and Expenditure Account for the year ending 31st March 2021, and its Balance Sheet, on the same date : Donation for the Pavilion construction Rs. $12,25,000$, Expenditure incurred Rs. $10,80,000$, Total estimate Rs. $25,00,000$.

Case StudyRead the following information to answer.Arun and Ram are partners in a restaurant business sharing profits and losses in capital ratio. Their fixed capital from the beginning of the firm was Rs. $2,00,000$ and Rs. $1,50,000$ respectively.The profit for the year ended 31 March 2022 before the appropriation of Salary and Interest on Capital was Rs. $2,20,000$. Ram is allowed a salary of Rs. $2,000$ per quarter and interest on capital @ $10\%$ p.a.Due to the further expansion of the business, they decided to enter Sanjeev as a new partner for $\frac{1}{5}$ share in profits. It was agreed that Sanjeev will bring Rs. $1,00,000$ as capital and Rs. $50,000$ as his share of Goodwill. It was decided that he will give Rs. $1,00,000$ as loan to the firm for 3 years.Interest on capital will be shown on the Dr. side of Profit and Loss Appropriation A/c and ________ side of Partner's ________ A/c.

From the following information, calculate interest on Capital of C, a partner for the year ended 31st March, 2022.C's Capital on 31/3/2022: Rs. $12,00,000$ Profit credited to C for the year ended 31/3/2022: Rs. $3,00,000$ Drawings made during the year: Rs. $1,00,000$ Additional Capital introduced on 1/10/21: Rs. $5,00,000$ Rate of Interest = $12\%$ p.a.

Case StudyRead the following information to answer.Arun and Ram are partners in a restaurant business sharing profits and losses in capital ratio. Their fixed capital from the beginning of the firm was Rs. $2,00,000$ and Rs. $1,50,000$ respectively.The profit for the year ended 31 March 2022 before the appropriation of Salary and Interest on Capital was Rs. $2,20,000$. Ram is allowed a salary of Rs. $2,000$ per quarter and interest on capital @ $10\%$ p.a.Due to the further expansion of the business, they decided to enter Sanjeev as a new partner for $\frac{1}{5}$ share in profits. It was agreed that Sanjeev will bring Rs. $1,00,000$ as capital and Rs. $50,000$ as his share of Goodwill. It was decided that he will give Rs. $1,00,000$ as loan to the firm for 3 years.Rate of Interest on loan given by Sanjeev will be:

If Amit, a partner, withdrew Rs. $10,000$ per month in the end, what will be the amount of interest on drawing if it is calculated @ $8\%$ p.a.?

If the total income earned by Saket Club, a Not-for-Profit organisation is Rs. $2,60,000$ and surplus earned is Rs. $85,000$, then total expenditure incurred will be: