Question : A, B and C are partners sharing profits in the ratio of 3: 2: 1. On March 31, 2018, C died and a new profit-sharing ratio was agreed upon at 3: 1. They also decided to record the effect of the following without affecting their book values: 
General Reserve 1,00,000
Profit and  Loss Account 45,000
Advertisement Suspense Account 25,000
Adjustment entry will be 

Option 1: Debit A’s Capital A/c by Rs.30,000; Credit B’s Capital A/c by Rs.10,000 and C’s Capital A/c by Rs.20,000.

Option 2: Debit B’s Capital A/c by Rs.30,000; Credit A’s Capital A/c by Rs.10,000 and C’s Capital A/c by Rs.20,000.

Option 3: Debit A’s Capital A/c by Rs.20,000; Credit B’s Capital A/c by Rs.10,000 and C’s Capital A/c by Rs.10,000

Option 4: None of the above

Question : Aman and Varun are partners sharing profits in the ratio of equally. Their Balance Sheet showed a balance of Rs 62,000 in the General Reserve Account and a debit balance of 20,000 in the Profit and Loss Account. They now decided to share the future profits 4:3. Instead of closing the General Reserve Account and Profit and Loss Account, it is decided to pass an adjustment entry for the same. In adjustment entry :
 

Option 1: Dr. Aman by Rs 3,000; Cr. Varun  by Rs 3,000

Option 2: Dr. Aman by Rs 5,000; Cr. Varun  by Rs 5,000

Option 3: Cr. Aman by Rs 5,000; Dr. Varun by Rs 5,000

Option 4: Cr. Aman by Rs 3,000; Dr. Varun by Rs 3,000

Question : Puran  Store Ltd., an Unlisted Company, is to redeem 5000,8% Debentures of Rs. 100 each on 30th June 2020. It has a balance of Rs. 10,000 in Debentures Redemption Reserve. It decides to set aside the amount to Debentures Redemption Reserve on 31st March 2020 on which date it has

following Reserves and Surplus:   Rs.
Securities Premium Reserve 25,000
Capital reserve Rs 20,000
General Reserve 30,000; and
Surplus, i.e., Balance in Statement of Profit and Loss 30,000
Balance Rs. 40,000 can be set aside to Debentures Redemption Reserve from:

Option 1: Capital Reserve and General Reserve

Option 2:  Capital Reserve and Securities Premium Reserve

Option 3: General Reserve and Surplus, i.e., Balance in Statement of Profit and Loss

Option 4: Securities Premium Reserve and Surplus, i.e., Balance in Statement of Profit and Loss

Question : A, B and C are partner sharing profits in the ratio of equally On 1-4-2020 they decided to share the profits 2:4:6. On the date there was a credit balance of  Rs 1,00,000 in their Profit and Loss Account and a balance of  Rs 2,00,000 in General Reserve Account. Instead of closing the General Reserve Account and Profit and Loss Account, it is decided to record an adjustment entry for the same. In the necessary adjustment entry to give effect to the above arrangement:
 

Option 1: Dr A by Rs 50,000; Cr. B by Rs 50,000

Option 2: Cr. A by Rs 50,000; Dr B by Rs 50,000

Option 3: Dr A by Rs 50,000; Cr. C by Rs 50,000

Option 4: Cr. A by Rs 50,000; Dr C by Rs 50,000

Question : Banwari, Girdhari and Murari are partners in a firm sharing profits and losses in the ratio of 4: 5: 6. On 31st March, 2014, Girdhari retired. On that date the capitals of Banwari, Girdhari and Murari before the necessary adjustments stood at Rs. 2,00,000, Rs. 1,00,000 and Rs. 50,000 respectively. On Girdhari's retirement, goodwill of the firm was valued at Rs. 1,14,000. Revaluation of assets and reassessment of liabilities resulted in a profit of Rs. 6,000. General Reserve stood in the books of the firm at Rs. 30,000 .

The amount payable to Girdhari was transferred to his Loan Account. Banwari and Murari agreed to pay Girdhari two yearly instalments of Rs. 75,000 each including interest @10% p.a. on the outstanding balance during the first two years and the balance including interest in the third year. The firm closes its books on 31st March every year
Question:
Interest charged on March 31, 2015 is

Option 1: Rs 7,500

Option 2: Rs 10,000

Option 3: Rs 15,000

Option 4: None of the above