(i) State any two uses of Securities Premium as stated in Section 78 of the Companies Act, 1956.
(ii) In a Cost Sheet, how would you treat :
(a) Primary packing material.
(b) Secondary packing material.
(iii) Give two differences between Sacrificing Ratio and Gaining Ratio.
(iv) In case of a Joint Venture business, how is abnormal loss of goods which have been insured, treated in the books of accounts ?
(v) List two instances when a partner ‘s Fixed Capital may change.
(vi) List any two objectives of stock valuation.
(vii) Why is a Journal Ledger Adjustment Account opened ?
(viii) Assuming that the Debt-Equity Ratio of a company is 2 : 1, state whether this ratio would increase, decrease or not change in the following cases :
(a) Issue of new shares for cash.
(b) Repayment of a long-term bank loan.
(ix) What are trade investments ?
(x) The firm with X. Y and Z as partners earned a profit of ? 3,00,000 during the year ended 31st March. 2011. 20% of this profit w as to be transferred to General Reserve. Pass the necessary- journal entry for the same.