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HOW TO SCORE ATLEAST 7080 MARKS IN ACCOUNTS IN CLASS 12TH WHEN YOU ARE NOT GOOD IN ACCOUNTS ?

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When there is need of calculating goodwill

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Goodwill is calculated at the time of reconstitution of partnership. It is also calculated at the time of sale of a business enterprise to another business/individual, i.e., when the ownership of the firm/company changes.
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When there is need of calculating goodwill

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The valuation of the Goodwill of a sole proprietorship is done when the business is being sold, but in case of a partnership firm and a joint stock company goodwill can be sold to some another business entity without selling the whole business. Hence when you are going to sell the goodwill of your business, you should be assured of the value of your goodwill at that particular time.
In case of a Partnership firm, there is a need for the valuation of Goodwill of the Firm in the following cases:
 In the case of a change in the profit sharing ratio of the firm
 In case of admission of a new partner;
 Incase of retirement or death of an old partner;
 In case of Sale / amalgamation of the firm.
In case of a Joint Stock Company, Goodwill is valued in the following circumstances:
 In case of amalgamation of two or more companies;
 In case of taking over of business of a company by another company;
 In case of taking over the business of the company by Government;
 Incase of conversion of shares of one class into another;
 If a company wants to acquire conrol of another company;
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Please give me answer
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X, Y and Z are partners sharing profit 2:3:5 goodwill is apearing in books X rituires of the X retires goodwill is valued 45000 Y and Z Dissed future profit equaly pass necessary journal entry

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Y A/c..................Dr 9000
To X A/c 9000
(Being Goodwill shared betweem Y and Z in their gaining ratio)
Working Notes
Gaining Ratio
Y = 1/2  3/10 = 2/10
Z = 1/2  5/10 = NIL
Assumption: No Goodwill is raised in the books of accounts of Y and Z. If this assumption changes, then the answer will be
Goodwill A/c.............Dr 45000
To X A/c 9000
To Y A/c 13500
To Z A/c 22500
(Being Goodwill raised in the books of accounts of Y And Z)
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Y A/c..................Dr 9000
To X A/c 9000
(Being Goodwill shared betweem Y and Z in their gaining ratio)
Working Notes
Gaining Ratio
Y = 1/2  3/10 = 2/10
Z = 1/2  5/10 = NIL
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A and B are partners are share in profit ratio 3:2,they admit C for 1/4 th share as new partner.the new profit share in ratio A and B are 2:1.calculation sacrificing ratio of A and B

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Let us assume profit = 1
Remaining Share = 1 1/4 = 3/4
New Share of A = 3/4 x 2/3 = 6/12 and B = 3/4 x 1/3 = 3/12 and C 1/4 Or 3/12
New Share = 6:3:3 OR 2:1:1
Sacrifice = A = 3/5  2/4 = 2/20 and B 2/5  1/4 = 3/20
Sacrifice 2:3
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A and B are partners share in profit ratio 3:2.They admit C, 1/4 th share of profit as new partner.The new profit share in ratio A and B are 2:1. Calculation Sacrificing ratio A and B

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Let us assume profit = 1
Remaining Share = 1 1/4 = 3/4
New Share of A = 3/4 x 2/3 = 6/12 and B = 3/4 x 1/3 = 3/12 and C 1/4 Or 3/12
New Share = 6:3:3 OR 2:1:1
Sacrifice = A = 3/5  2/4 = 2/20 and B 2/5  1/4 = 3/20
Sacrifice 2:3
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A and B are partner share in profit ratio 3:2,they admit C as new partner.A give 1/3 th of his share while B gives 1/10 from his share .Calculation new profit sharing ratio.

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A's old share = {tex}{3\over 5}{/tex};
A surrender in favour of C ={tex} {3\over 5} \times {1\over 3}={ 1\over 5}{/tex}
A's new share ={tex}{3\over5}  {1\over 5} ={2\over 5}{/tex}
B's old share = {tex}2\over 5{/tex};
B surrender in favour of C = {tex}{2\over 5} \times {1\over 10 }={1\over 25}{/tex}
B's new share = {tex}{2\over 5} { 1\over 25}= {9\over 25}{/tex}
C's old share = 0
C's new share = {tex}0+{1\over 5}+{1\over 25}= {6\over 25}{/tex}
New ratio = {tex}{2\over 5}:{9\over 25}:{6\over 25}{/tex}= 10:9:6
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What is Goodwill

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Goodwill is an intangible asset that arises as a result of the acquisition of one company by another for a premium value. The value of a company's brand name, solid customer base, good customer relations, good employee relations and any patents or proprietary technology represent goodwill.
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A,B and C are partners share in profit ratio 3:2:1.A surrender 1/3 th of his share and B surrender 1/4 th of his profit in favore of C .calculation new profit Sharing ratio.

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A's old share = {tex}{3\over 6}{/tex};
A surrender in favour of C ={tex} {3\over 6} \times {1\over 3}={ 1\over 6}{/tex}
A's new share ={tex}{3\over6}  {1\over 6} ={2\over 6}{/tex}
B's old share = {tex}2\over 6{/tex};
B surrender in favour of C = {tex}{2\over 6} \times {1\over 4 }={1\over 12}{/tex}
B's new share = {tex}{2\over 6} { 1\over 12}= {1\over 4}{/tex}
C's old share = {tex}1\over 6{/tex}
C's new share = {tex}{1\over 6}+{1\over 6}+{1\over 12}= {5\over 12}{/tex}
New ratio = {tex}{2\over 6}:{1\over 4}:{5\over 12}{/tex}= 4:3:5
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A,B and C are partners share in profit and loss ratio 3:2:1.A surrender 1/3 th of his share and B surrender 1/4 th of his profit. Calculation new profit sharing ratio

Plz solve this problem ASAP
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A's old share = {tex}{3\over 6}{/tex};
A surrender ={tex} {3\over 6} \times {1\over 3}={ 1\over 6}{/tex}
A's new share ={tex}{3\over6}  {1\over 6} ={2\over 6}{/tex}
B's old share = {tex}2\over 6{/tex};
B surrender = {tex}{2\over 6} \times {1\over 4 }={1\over 12}{/tex}
B's new share = {tex}{2\over 6} { 1\over 12}= {1\over 4}{/tex}
C's share = {tex}1\over 6{/tex}
New ratio = {tex}{2\over 6}:{1\over 4}:{1\over 6}{/tex}= 4:3:2
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Ram and shyam were partners in ratio of 2:1 . mohan was admitted as a partner . ram and shyam surrender their 1\2 share to mohan . find new profit sharing ratio ?

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NPSR of
Ram 2/6
Sohan 1/6
Mohar 3/6
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A and B are partners share in profit and loss ratio 3:2,they admited C as a new partner. A gives 1/3th of his share while B gived 1/10 th of his share. Calculate new profit sharing ratio.

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Answers:

A:B= 3:2
A gives 1/3 of his share, which implies, 3/5x1/3= 3/15
3/53/15= 6/15 or 30/75
B gives 1/10 of his share, which implies, 2/5x1/10=2/50 or 1/25 or
2/51/25= 9/25 or 27/75
C= 3/15+1/25=15/75+3/75=18/75
30/75:27/75:18/75
30:27:18
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What is joint venture

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A joint venture (JV) is a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or any other business activity.
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Sir patents/copyrights/workmen compensation fund/premises
Inko samjha dijiye
Inka meaning kya hota hai in accounts

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Sorry that was previous question answer here posted by mistake. I apologise.
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Combination 
Cao+h2o=ca(oh)2
C+o2=co2
2mg+o2=2mgo
2h2+o2=2h2o
2co+o2=2co2
Decomposition 
Caco3=cao+co2
2agbr=2ag+br2
2agcl=2ag+cl2
2feso4=fe2o3+so2+so3
2h2o=2h2+o2
Displacement
Mg+cuso4=mgso4+cu
Fe+cuso4=feso4+cu
Zn+cuso4=znso4+cu
Cuo+mg=mgo+cu
2na+2h2o=2naoh+h2
Double displacement 
Na2so4+bacl2=2nacl+baso4
Naoh+hcl=nacl+h2o
Agno3+nacl=nano3+agcl
Bacl2+cuso4=baso4+cucl2
Cuso4+h2s=cus+h2so4
Redox
h2s+cl2=s+2hcl
Cuo+h2=cu+h2o
So2+2h2s=2h2o+3s
H2s+I2=2hi+s
2pbo+c=2pb+co2
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Rs. 2000 out of total creditors rs 20000 are not to be paid

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Creditors are a liability, thus having credit balance. Since here they are not to be paid Rs. 2,000, the liability stands reduced by Rs. 2,000. To reduce a liability, we must debit it to reduce its balance. Also, this is a gain to the firm, thus revaluation account should be credited (being a nominal account in nature). Hemce the folowing journal entry:
Creditors a/c Dr. 2,000
To Revaluation a/c 2,000
(Being creditors of 2,000 not to be paid)
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What is the concept behind making partner capital account

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To know the perfect and particular amount of each partners .
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L and M are partners in a firm sharing profits in the ratio of 5:3. They admit N and decide that the profit  sharing ratio between M and N shall be same as existing between L and M. Calculate new profit sharing ratio and sacrificing ratio

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As there is mentioned that M and N will be sharing profit as it is between L and M so L and M ratio is 5:3. Then M and N will share 5:3 so for 5 share Mhas 3 then for 3 share how much for N by cross multiplication it will come to 3/5*3=1.8
5:3:1.8=25:15:9 is the new ratio and sacrifice will be old ratio  new ratio
L= 5/825/49 =(245200)/392=45/392
M=3/815/49 = (147120)/392 = 27/392
sacrifice is 45:27=5:3
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dissolution of partnership firm

Please, elaborate your question. Do you want notes or something else.

Please, elaborate your question. Do you want notes or something elase.
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why preare revaluation accont

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Ans. Revaluation account is prepared on historic cost concept and present value is not taken for consideration. but when a partner is admitted old partners need to show through revaluation account the assets and liability at present value.
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 Why goodwill already appeared in the bòoks is debited to old partners capital account ?

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Goodwill is debited so as to write off the goodwill. As it shouldn't have to be shown in the current year balance sheet. For the same, goodwill should be distributed among the partner.
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Is Profit and Loss appropriation account particularly made for partners or firm??

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Final accounts is always prepared for Firm. The P&L appropriation account is nothing but distribution of final profit among partners and some profit is also diverted towards Reserves.
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Final accounts is always made for Firm. The P&L appropriation account is nothing but distribution of final profit among partners and some profit is also diverted towards Reserves.
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Net decrease in working capital will increase/decrease / not change cash flow from operating activities? Give reason

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Increase
because WC =CACL
To reduce the WC either CA have to be reduced or CL have to be increased
So in both the cases amt is added to the cash flow statement
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The paper today was lenghty as well as tricky...the paper was not according to blue print...the debenture which carries a weightage of 7 marks only came out for 16 marks today
One question of debenture was out of course
The thing i just wanted to know that is there a provision of bonus marking or easy checking?
According to the student community the paper was really lenghty

which question was out of syllabus
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List the categories of individuals who cannot be admitted by existing partners ?

insolent person and those who are mentally unsound
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when it is given in the partnership deed that to allow interest on partners' capital .But rate of interest is not given. The firm is incurring loss. Whether interest will be allowed or not.If yes at what percentage?

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Yes . Interest will be given. Percentage will be 6%.
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Under which sub head and major head will bill discounted but not matured will come?

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What is meant by securities premium?

securities premium is an account which is credited at the time of issue of share of debenture at price more than its face value.
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What share of profit would a sleeping partner who has contributed 75%of tha totalcapital get in absence of a deed

he will get equal share
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What is mean by Partner's Loan Account?

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It is cumpolsry to make accountancy formats with the help of pencil during exams?

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Yes it is
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