Q: What journal entry would be passed for profit distribution of Rs. 9,000 among Mr. A, Mr. B and Mr. C with the ratio of 1:3:5 respectively? Show complete working.
Q: Briefly explain the cash system of accounting with the help of example.
Q: ABC Inc. had the following positive and negative cash flows during the year
Positive cash flows:
Rec from custom 250,000
Interest and dividend 50,000
Sale of plant asset 350,000
Issued stock 500,000
Negative Cash Flows:
Paid to suppliers and employees 130,000
Purchase of inventory 40,000
Purchase of treasury stock 35,000
Payment of interest 20,000
Paid cash dividend 50,000
Q: Determine the amount of cash provided by or used for operating act?
Q: If accounts receivable at beginning: 250,000
Account receivable at the end: 190,000
Credit sales: 300,000
Then you are required to calculate the cash receipts from sales by preparing the accounts receivable account.
Q: What do you know about the fluctuating capital in a partnership?
What is gen ledger? List down the comp of standard gen ledger?
Q: If the capitals of the partners are fixed, pass journal entries for the following:
Drawing made by partner
Excess drawn amount is returned by partner
Profit distribution among partner

Q: Listed below are corporations that receive cash from customers prior to earning revenue:
ABC group of colleges (for profit comm. College)
Model town club
XYZ incorporation (health insurance)
Listed below are the accounts used by these corporations to report unearned revenues
(I was unable to note remaining part of this question)

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