In which order should the following items be shown in the Balance Sheet of a company:
1. Fixed Assets
2. Share held as permanent investments
3. Current Assets
4. Profit and Loss (Dr.)
Select your answer:

Match the following:
List-I List-II
a. Compulsory Dissolution 1. Section 44
b. Dissolution by Court 2. Section 41
c. Dissolution by Notice 3. Section 42
d. Contingent Dissolution 4. Section 43

X and Y are partners sharing the profit in the ratio of 3 : 2. They take Z as the new partner who is supposed to bring Rs. 25,000 against capital and Rs. 10,000 against goodwill, New profit sharing ratio is 1 : 1 : 1. Z is able to bring only his share of capital. How this will be treated in the books of the firm?

A company pays to its sundry creditors a sum of Rs. 10,000. This transaction will:

A and B sharing profits in the ratio of 3 : 2 took out a joint-life policy of Rs. 20,000 on 1st January 2000 for 20 years, paying annual premium of Rs. 1000. The surrender values of the policy were: 2000 - nil, 2001 - Rs. 550, 2002 - Rs. 970.
On 8th march 2002 B was dead. What will be the amount to be paid to the policy holders-