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What you mean by undervalued and …

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What you mean by undervalued and overvalued ?

Posted by Annu Ashish Lakra 8 years, 3 months ago

CBSE > Class 12 > Accountancy

2 answers

Nisha Deshwal 8 years, 3 months ago

agar apko question me machinery undervalued Diya h to means apne use books me km value se likha h to use aap sahi krne k liye excess me dikha Doge i.e. machinery ki value increase show kr Doge ( write it on Credit. Side of revaluation account with same amount)

Reshma Sree 8 years, 3 months ago

Undervalued is the value which is generally low than expected value and Overvalued is the value which is more than the expected valie

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Q. 120. Risha and Nisha were partners. The partnership deed provides: (1) That the accounts be balanced on 31st December each year. (ii) The profits be divided as follows: Risha one-half, Nisha one-third and carried to Reserve account one-sixth. (ii) That in the event of death of a partner, her executor will be entitled to the following: (a) The capital to her credit at the date of death. (b) Her proportion of profit to date of death based on the average profits of the last three completed years. (c) Her share of goodwill based on three year's purchase of the average profits for the three preceding completed years. On 31st December, 2020 the Trial Balance was as under: Particulars Risha's Capital Nisha's Capital Reserves Bills Receivables Investments Cash Creditors Dr. (3) Cr. (3) 90,000 60,000 30,000 50,000 40,000 1,10,000 20,000 2,00,000 2,00,000 The profits for the three years were: 2018 ₹4,200; 2019 ₹3,900 and 2020 ₹4,500. Nisha died on 31st May, 2021. Draw up the deceased Partner's Capital A/c and Executor's A/c. Ans. Balance due to Nisha's Executor's ₹77,740.]

Posted by Srishti Arya 1 year, 5 months ago

CBSE > Class 12 > Accountancy

0 answers

Q. 46. Ayushi and Shristhi are partners sharing profits in 3 : 2. Their Balance Sheet showed Stock at ₹3,10,000; Machinery at ₹4,95,000; Debtors at ₹6,00,000; Creditors at ₹3,47,000. They admit Tina as a partner and new profit sharing ratio is agreed at 4: 3: 2. Following terms were agreed : (1) Machinery is overvalued by 10%. (ii) Unrecorded debtors of ₹20,000 be brought into books and provision for doubtful debts be created at 10%. (iii) Creditors of ₹27,000 are not likely to be paid. Shristhi's share in loss on revaluation amounted to ₹36,000. You are required to calculate the revalued value of stock

Posted by Shashank Shukla 1 year, 8 months ago

CBSE > Class 12 > Accountancy

0 answers

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Posted by Mahi . 1 year, 8 months ago

CBSE > Class 12 > Accountancy

0 answers

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Posted by Riya Chandan 1 year, 8 months ago

CBSE > Class 12 > Accountancy

0 answers

Ativ, Meha and Nupur were partners in a firm sharing profits and losses in the ratio of 5 : 3:2. On 31-03-2016 their Balance sheet was as under: Liabilities Amount (T) Assets Amount (R) | Trade Creditors 26,500 Bank 23.500 Debtors 1,00,000 Stock 50,000 Fixed Assets 40,000 Advertisement Expenditure 25,000 Employees Provident Fund Ativ's Capital Meha's Capital 30,000 55,000 1,20,000 Nupur's Capital 10,000 2,40,000 2,40,000 Ativ retired on 1-4-2016. For this purpose, the following adjustments were agreed upon: (i) Goodwill of the firm was to be valued at 2 years purchase of the average profits of 3 completed years preceding the date of retirement. The profit for previous years were: 2013-14 55,000; 2014-15 7 65,000; 2015-16 7 60,000.

Posted by Munni Lal 1 year, 8 months ago

CBSE > Class 12 > Accountancy

0 answers

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CBSE > Class 12 > Accountancy

0 answers

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Posted by Tanishk Kabra 1 year, 8 months ago

CBSE > Class 12 > Accountancy

0 answers

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Posted by Mohd Aman Mansoori 1 year, 8 months ago

CBSE > Class 12 > Accountancy

0 answers

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Posted by Annu Sahani 1 year, 8 months ago

CBSE > Class 12 > Accountancy

0 answers

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Posted by Palak Sharma 1 year, 8 months ago

CBSE > Class 12 > Accountancy

0 answers

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