List of practice Questions

Identify the components required to calculate goodwill using the Capitalisation of Average Profits Method.
Explain the term 'cell referencing' in an electronic spreadsheet.
A company took a loan of ₹10,00,000 at 12% p.a. and offered ₹15,00,000 in 8% Debentures as collateral security. Calculate the finance cost for the year.
Calculate Cash from Operations from the following: Net Profit for the year is ₹10,000 after providing for depreciation of ₹2,000; Trade Creditors decreased by ₹15,000; Outstanding Expenses increased by ₹3,000.
Gokul Ltd. forfeited 1,000 shares of ₹10 each (₹8 called-up) for non-payment of ₹5 allotment (including ₹2 premium). If ₹3,200 was transferred to Capital Reserve after reissuing some shares at ₹7, how many shares were reissued?
Ajay is admitted as a partner. The firm's Balance Sheet shows a Workmen Compensation Reserve of ₹80,000. If a claim of ₹90,000 arises, how is the extra ₹10,000 recorded?