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Read the following news item of ITC Ltd. and answer the question that follows:
| The company’s board declared an interim dividend of ₹ 6.25 per share for the financial year ending March, 2024. The dividend will be paid between February 26-28, 2024, to the eligible shareholders. |
Which of the following are the attributes of interim dividend?
P: It is a charge against profits.
Q: It is an appropriation of profits.
R: Its declaration and payment will decrease the company’s Current Ratio.
S: Its declaration and payment will increase the company’s Debt Equity Ratio.
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Bajaj Hindustan Sugar, one of the largest sugar and ethanol producers, in order to revive the company, has offered to invest ₹ 2,500 crore as fresh equity of which ₹ 1,000 crore has already been infused.
What will be the effect of this decision of Bajaj Hindustan Sugar on its DebtEquity Ratio?
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From the following Balance Sheets of Ronald Ltd., you are required to prepare a Cash Flow Statement (as per AS 3) for the year 2023-24.
| Balance Sheets of Ronald Ltd. As at 31st March, 2024 and 31st March, 2023 |
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| Particulars | Note No. | 31.03.2024 (₹) | 31.03.2023 (₹) |
| I. EQUITY AND LIABILITIES | |||
| 1. Shareholder's Funds | |||
| (a) Share Capital | 6,00,000 | 6,00,000 | |
| (b) Reserves and Surplus (Statement of P & L) | 80,000 | (60,000) | |
| 2. Non-Current Liabilities | |||
| Long Term Borrowings | 1,00,000 | 1,50,000 | |
| 3. Current Liabilities | |||
| (a) Short-term borrowings (Bank overdraft) | 1,75,000 | 22,000 | |
| (b) Short Term Provisions (Provision for Tax) | 15,000 | 28,000 | |
| Total | 9,70,000 | 7,40,000 | |
| II. ASSETS | |||
| 1. Non-Current Assets | |||
| (a) Property, Plant & Equipment & Intangible Assets | |||
| (i) Property, Plant & Equipment (Plant & Machinery) | 5,50,000 | 6,40,000 | |
| (b) Non- Current Investments (7% Debentures of Violet Ltd.) | 1,40,000 | 50,000 | |
| 2. Current Assets | |||
| Cash & Bank Balance (Bank) | 2,80,000 | 50,000 | |
| Total | 9,70,000 | 7,40,000 | |
Additional information:
- The Debentures of Violet Ltd. were purchased on 31st March, 2024.
- During the year 2023-24:
- Tax of ₹ 20,000 was paid.
- Interest on all borrowings due and paid was ₹ 25,000.
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A company had Current Assets of ₹ 3,00,000 and Current Liabilities of ₹ 1,50,000, having a current Ratio of 2 : 1. What will be its revised Current Ratio after it endorses a bills receivable of ₹ 40,000 to one of its creditors?
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From the following particulars of NB Ltd., calculate its Cost of Revenue from Operations for the year 2023-24.
| Particulars | |
| Current Assets | ₹ 6,80,000 |
| Current Liabilities | ₹ 3,40,000 |
| Quick Ratio | 1.5 : 1 |
| Inventory Turnover Ratio | 4 times |
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Mention the symbol which specifies the fixed columns or rows in a formula.
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Give the shortcut that is used to select a row in Excel.
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Why is database testing important?
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List any two types of storage devices in DBMS.
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What is meant by date-transfer rate?
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The following balances have been extracted from the books of Nirvana Ltd, as at 31st March, 2024:
| Particulars | (₹) | Particulars | (₹) |
| Security deposit for electricity for ten years | 30,000 | Uncalled amount on partly paid-up shares | 8,00,000 |
| Underwriting commission | 20,000 | 10% Debentures | 5,00,000 |
| General Reserve | 70,000 | Statement of P/L (Dr.) | 10,000 |
| Fixed Deposits | 2,00,000 | Calls-in arrears @ ₹ 1 per share | 40,000 |
| Premium on redemption of Debentures | 20,000 | Securities Premium | 2,00,000 |
| Equity Share Capital (1,00,000 shares of ₹ 10 each) |
10,00,000 |
You are required to show the above items in Notes to Accounts accompanying the Balance Sheet of Nirvana Ltd. prepared as per Schedule III of the Companies Act 2013 as at 31st March, 2024.
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Answer briefly of the following question :
Mention whether the following Trade Payables are current liabilities or non-current liabilities:
Operating Cycle Expected period of Payment
(a) 12 months 14 months
(b) 15 months 12 months
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From the following information, prepare a Common Size Statement of Profit and Loss of Prudence Ltd. for the
year ending 31st March, 2017:
Particulars 31.03.2017
Revenue from Operations 20,00,000
Purchases 15,00,000
Changes in inventories 1,00,000
Other Income (Dividend received) 40,000
Depreciation and Amortization expenses 60,000
Tax Rate @ 40%
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Calculate the Net Profit Ratio (up to two decimal places) from the following information:
Particulars Rs.
Gross profit 80,000
Salary and rent 30,000
Interest on Debentures 5,000
Gain on sale of furniture 2,000
Revenue from Operations 4,00,000
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Sales Information of Asha Traders
| A | B | C | D | E | F | |
| 1. | Particulars | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Total |
| 2. | Unit sold (in kg) | 3500 | 4300 | 3100 | 4700 | |
| 3. | ||||||
| 4. | ||||||
| 5. | ||||||
| 6. | Electricity Expenses | 18000 | 16000 | 22000 | 76000 | |
| 7. | Advertisement Expenses | 22000 | 26000 | 18000 | 28000 | |
| 8. | Total Cost | |||||
| 9. | Net Profit | |||||
| 10. | Selling price per unit | 50 | 50 | 50 | 50 | |
| 11. | Cost price per unit | 35 | 35 | 35 | 35 |
Based on the information given in the spread sheet above, write the formula for calculating each of the following:
(a) Sales Revenue for Quarter 1 in cell B3.
(b) Cost of Goods Sold for Quarter 2 in cell C4.
(c) Total Advertisement Expenses incurred in cell F7.
(d) Gross Profit for Quarter 4 in cell E5.
(e) Electricity Expenses for Quarter 3 cell D6.
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List the models into which the development of database technology is divided.
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Mention the heading and sub-heading under which Vehicles are shown in the Balance Sheet of a company prepared as per Schedule III of the Companies Act, 2013.
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Greg and Rohit are partners in a firm sharing profits and losses in the ratio of 2 : 3.
Their Balance Sheet as at 31st March, 2022, is given below:
| Balance Sheet of Greg and Rohit As at 31st March, 2022 |
|||||
| Liabilities | (₹) | Assets | (₹) | ||
| Sundry Creditors | 15,000 | Goodwill | 10,000 | ||
| Outstanding Salary | 5,000 | Office Equipment | 37,000 | ||
| General Reserve | 8,000 | Sundry Debtors | 6,400 | 6,000 | |
| Capital Accounts: | Less: Provision for doubtful debts |
400 | |||
| Greg | 25,000 | 35,000 | Cash | 10,000 | |
| Rohit | 10,000 | ||||
| 63,000 | 63,000 | ||||
On 1st April, 2022, they admit Kunal as a new partner on the following terms:
- The new profit-sharing ratio of Greg, Rohit and Kunal is to be 5 : 3 : 2.
- Kunal to bring his share of capital of ₹ 25,000 and his share of goodwill of ₹ 5,000 in cash.
- Office Equipment to be valued at ₹ 42,000.
You are required to prepare Partners' Capital Accounts.
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Calculate Trade Payables Turnover Ratio (up-to two decimal places) from the following information:
| Particulars | (₹) |
| Trade Payables at the beginning of the year | 70,000 |
| Trade Payables at the end of the year | 80,000 |
| Payment to Trade Payables | 3,20,000 |
| Returns to Credit suppliers | 30,000 |
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On the admission of Adil as a partner, the capitals of Rohan and Pavan, after all adjustments, were ₹ 50,000 and ₹ 40,000. Their capitals before Adil’s admission were ₹ 45,000 and ₹ 48,000.
The capital account of the partner having surplus capital was adjusted through his current account by passing the journal entry:
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