| List I | List II | ||
| A. | Super Profit | I. | Actual Average Profit - Normal Profit |
| B. | Normal Profit | II. | Super Profit × \(\frac{100}{\text{Normal rate of return}}\) |
| C. | Goodwill | III. | Total Assets - Outside Liabilities |
| D. | Capital Employed | IV. | \(\frac{\text{Capital Employed × Normal Rate of Return }}{100}\) |
Which of the following is a part of Asset group ‘Current Assets’ in account group of Assets?
(A) Duties and Taxes
(B) Miscellaneous Expenditures
(C) Reserves & Surplus
(D) Direct Expenses
Pass necessary journal entries for the following transactions on dissolution of the firm of Sachin, Virat, and Rohit after various assets (other than cash) and third-party liabilities have been transferred to Realisation Account:
(i) Sachin took over stock of book value of ₹ 80,000 at a discount of 10%.
(ii) Virat agreed to take over the firm's creditors of the book value of ₹ 70,000 at a valuation of ₹ 65,000.
(iii) Rohit took over his wife's loan of ₹ 3,00,000.
(iv) There was an old typewriter which had been written off completely from the books. It realised ₹ 10,000.
(v) Land and Building of the book value of ₹ 50,00,000 was sold for ₹ 70,00,000 through a broker who charged 5% commission on the deal.
(vi) Loss on realisation ₹ 30,000 was to be distributed between Sachin, Virat, and Rohit equally.
Rearrange the following parts to form a meaningful and grammatically correct sentence:
P. a healthy diet and regular exercise
Q. are important habits
R. that help maintain good physical and mental health
S. especially in today's busy world