Time 1 1/2 hour Accountancy - Il Practical June 2021 1. A partner withdraw 3000 1) (in the begining 2) in the middle 3 at the end of each month. Calculate inton drawings rate of 6% Pa 2) From the following information Prepare a comparative income statement. Particulars 2007 2008 Sales 400000 600000 Direct Expenses 200000 300000 Indirect expenses 100000 120000 Provision for tax 60000 80000 3) Balance Sheet Liabilities 2005 2006 Assest 2005 2006 Share Capital 350000 370000 Goodwill 40000 30000 12% Debenture 20000 10000 Land & building 300000 250000 Profit and Loss A/c 40000 50000 Debtors 10000 35000 Bill Payable 10000 15000 Stock 50000 90000 Creditors 45000 50000 Machinery 50000 70000 Cash 15000 20000 465000 495000 465000 495000 Calculate cash flow from operating Activities from the above balance sheet 4) Calculate the commission received during the year 2012-2013 from the following information 1-4-2012 31-3-2013 30000 20000 Commission received in advance 20000 15000 Accrued commission Trading commission earned during the year = 500000 5) A firm earns 80000. The normal rate of return is 10 %. The asset as the firm amounted 900000 and liabilities to 200000.. Calculate the value th goodwill by capitalization as average profit