1. Answer the following question (give workings): (1) Babbu and Dabbu are partners, sharing profit or loss in the ratio 3:2. They admit Kachari for 1/6th share of profits in the firms of which she takes 2/3rd from Babbu and 1/3rd from Dabbu. Find the new profit sharing ratio. (ii) How will you deal with the following as per AS-2? On 31st March, 2014, the closing stock of X Ltd. includes 13000 units costing *14 per unit. But the current market price as on that date was 12 per unit. (iii) Following informations are obtained from the books of a club: (a) Subscription received during the year ending 31st March, 2014 2,56,000, out of which 8,000 was for the year 2014-15 and 11,000 for the year 2012-13. (b) Subscription was outstanding on 01.04.2013 18,000 and on 31.03.2014 for 2013-14 21.000. Calculate the amount of subscription to be credited to Income and Expenditure Account for the year ending 31.03.2014. (iv) Shiva's debtors ledger include 18,000 due from Mayank & Co. whereas creditors ledger include 13,000 due to Mayank & Co. Give the transfer entry to set-off the suitable amount in the books of Shiva. (v) Prabhu, lessee of a coal mine with rent of 15,000 a year and with a rate of royalty at 5 per ton of coal extracted. If the production in the first year is 2000 tons, find rent payable. (vi) Bholu sold 2500, 9% debenture (Face value 100 each) of Madhu Ltd. at 135 Ex-interest on 01.04.2014. Interest is payable on 30th June and 31st December in every year. Find out the actual amount creditable to the investment account.