Dividends payable are dividends that a company’s board of directors has declared to be payable to its shareholders. Until such time as the company actually pays the shareholders, the cash amount of the dividend is recorded within a dividends payable account as a current liability. Dividend is not payable on the calls in arrear.
Here dividend payable will be 10% of (25,00,000 – 10,000) = Rs. 2,49,000

Sale or return basis is an arrangement by which a retailer pays only for goods sold, returning those that are unsold to the wholesaler or manufacturer. The customer do not pay for the goods until they confirm to buy. If they do not buy, those goods will return to us goods on the ‘sale or return’ basis will not be treated as normal sales and should be included in the closing inventory unless the sales have been confirmed by customer . When goods are sent on approval basis then at the end of the financial year the goods lying with customers will be valued at cost or market price whichever is less.
Here 100 articles were sent on sale or return basis which were recorded as actual sales on that price.
The sale price was made cost plus 25%.
Firstly this should not be recorded as sales and is to be included in the inventory at cost or market price
whichever is less.
Selling price of goods sent = 100 × 200 = Rs. 20,000
Thus cost price = 20,000 × 100/125 = Rs. 16,000
Thus The amount of inventory on approval will be Rs. 16,000

When the shares forfeited are reissued at discount, Bank account is debited by the amount received and Share capital account is credited by the paid up amount. The amount of discount allowed is debited to Share Forfeited Account. This is for adjusting the amount of discount so allowed from the amount forfeited at the time of forfeiture.

Now the amount of discount allowed on reissue of shares at the most can be equal to the forfeited amount on such shares. In that case the share forfeited account after reissue will show a zero balance. But in case, this amount of discount is less than the amount forfeited, the remaining forfeited amount will be profit for the company. This profit is a capital gain to the company and is transferred to Capital Reserve account.

In the above question discount on shares reissued = number of shares reissued × discount allowed per
share = 300 × (100 – 80) = Rs. 6,000

Amount available for the reissued shares in shares forfeiture account = number of shares reissued ×
amount forfeited per share = 300 × (100 – 25) = 300 × 75 = Rs. 22,500

The surplus amount to be transferred to capital reserve account = 22,500 – 6,000 = Rs. 16,500

When shares issued at par are forfeited the accounting treatment will be as follows:
(i) Debit Share Capital Account with amount called up (whether received or not) per share up to the time of forfeiture.
(ii) Credit Share Forfeited A/c. with the amount received up to the time of forfeiture.
(iii) Credit ‘Unpaid Calls A/c’ with the amount due on forfeited shares. This cancels the effect of debit to such calls which take place when the amount is made due.
Forfeited shares account will be credited by the amount which has been received in respect of forfeited shares.
Here total called up value of the shares is 100 × 10 = Rs. 1,000. Thus share capital account will be debited by Rs. 1,000

Total of balance sheet will be 2,00,000 (20,000 × Rs. 10).

When a new partner is admitted in the firm, the existing/old partners have to sacrifice, what is given to the new partner, from their future profits, the reputation they have gained in their past efforts and the side of capital they have taken before. The new partner when admitted, has to compensate for all these sacrifices made by the old ones. The compensation for such sacrifice can be termed as ‘goodwill’. Hence, at the time of admission of the new partner, it is necessary to account the valuation of goodwill in the firm. And this goodwill will be shared by the old partners in their profit sharing ratio.

After making the Trading and Profit and Loss account of a Partnership firm the next step is to divide the profits or losses among the partners and to make other appropriations like interest on capital, salary, commission etc. For this purpose an another account is prepared i.e. profit and Loss appropriation account.