1. Define business. Briefly enumerate various types of business organization?

Explain about sole proprietorship, and its merits, demerits? 2. The following is the balance sheet of XYZ Ltd. As on 31-12-2010 Liabilities Share capital Preference dividend 10% long term loan 14% debenture Sundry creditors Bills payable Bank overdraft Total Calculate the following ratios i) Current Ratio; ii) Quick Ratio; iii) Debtors turnover ratio; IV) Stock turnover ratio Amount 300000 500000 325000 150000 75000 30000 25000 1405000 Asset Investment Stock as on 1-1-2010 Sundry Debtors Cash Prepaid Expenses Cost of good sold Stock on 31-12-2010 Total Amount 100000 144000 175000 10000 15000 600000 256000 1405000

3) From the following trial balance prepare Trading, profit &loss account and Balance sheet
Trail Balance as on 30.9.2010 Particulars capital loans sales Bills payables Account payable Purchase returns Interest received Plant and machinery buildings receivables purchases Commission paid wages Discount allowed salaries freight charges insurance travelling Expenses bank repairs investment on loans opening stock Debit amount Credit amount 25000 5000 35000 5000 4000 2000 3000

13000 17000 9650 18000 100 7000 1200 3000 300 300 750 1600 500 600 6000

Total

79,000

79,000

Additional Information: 1. Closing Stock 8,000/2. Write off depreciation on plant and machinery at15% &buildings 10% 3. Prepaid Insurance 50/4. Outstanding rent 50/5 Interest to be received 500/4) Pass the journalize entries from the following in the books of Suresh. I) Suresh commenced business with 200000/ii) Deposit into bank 50000/Iii) Purchased good worth 10000/IV) Sold goods worth 12000/V) Received interest from the bank 2000/vi) Paid rent 1000/vii) Sold good to Ravi 6000/viii) Purchased goods from Ravan 7000/ix) Check received from Ravi 5000/x) Cash with drawn from Bank for office use 3000/-

5. Different Pricing Strategies?