Land and Building (book value) ₹ …

Land and Building (book value) ₹ 1,60,000 sold for ₹ 3,00,000 through a broker who charged 2% commission on the deal. Journalise the transaction, at the time of dissolution of the firm. 1 2 Why is it necessary to revalue assets and liabilities of a firm in case of admission of a partner? 1 Or State aŶLJ tǁo ƌeasoŶs foƌ the pƌepaƌatioŶ of ͚ReǀaluatioŶ AĐĐouŶt͛ at tiŵe of adŵissioŶ of a partner. 3 State the ďasis of aĐĐouŶtiŶg oŶ ǁhiĐh ͚ReĐeipt aŶd PaLJŵeŶt AĐĐouŶt͛ is pƌepaƌed iŶ case of Not-for Profit Organisation. 1 Or What ǁill ďe the tƌeatŵeŶt of ͚SuďsĐƌiptioŶ ƌeĐeiǀed iŶ adǀaŶĐe͛ duƌiŶg the ĐuƌƌeŶt year in the Balance Sheet of a Not-For-Profit Organisation? 4 One of the partners in a partnership firm has withdrawn ₹ 9,000 at the end of each quarter, throughout the year. Calculate interest on drawings at the rate of 6% per annum. 1 5 A, B and C are partners in a firm sharing profit and losses in the ratio of 3:2:1. B died on 1 st April, 2018. C, soŶ of B, is of the opiŶioŶ that he is the ƌightful oǁŶeƌ of his fatheƌ͛s share of profits, and the profits of the firm should be now shared between A and C equally. A does not agree. Settle the dispute between A and C by giving reason. 1 6 DiffeƌeŶtiate ďetǁeeŶ ͚EƋuitLJ Shaƌe͛ aŶd ͚DeďeŶtuƌe͛ oŶ the ďasis of ƌisk iŶǀolǀed. 1 Or What is ŵeaŶt ďLJ ͚EŵploLJee StoĐk OptioŶ PlaŶ͛?

Mohan is admitted as a partner for 1/5th share on the following terms: (a) He is to contribute 14,000 as his share of capital which includes his share of premium for goodwill. (b) Goodwill is valued at 2 years' purchase of the average profits of the last 4 years, which were 10,000; 9,000; 8,000 and 13,000 respectively. (c) Plant to be written down to 25,000 and patents written up by * 8,000. Prepare the Revaluation Account, Partners' Capital Account and the Balance Sheet of the new firm.

Illustration 62. Given below is the Balance Sheet of Krishna & Suresh who are partners in a firm sharing profits in the ratio of 3 : 2: Liabilities Amount Creditors Bank Overdraft Investment Fluctuation Fund Contingency Reserve Capital A/c : Krishna Suresh 30,000 20,000 21,000 2,000 6,000 5,000 50,000 84,000 Assets Plant Patents Furniture Investments (Market value Stock Debtors Cash 14,000) Amount (₹) 30,000 5,000 3,000 15,000 13,000 17,000 1,000 84,000 Mohan is admitted as a partner for 1/5th share on the following terms: (a) He is to contribute 14,000 as his share of capital which includes his share of premium for goodwill. (b) Goodwill is valued at 2 years' purchase of the average profits of the last 4 years, which were 10,000; 9,000; 8,000 and 13,000 respectively. (c) Plant to be written down to 25,000 and patents written up by * 8,000. Prepare the Revaluation Account, Partners' Capital Account and the Balance Sheet of the new firm.​

What is bad depts and how we can show in journal and ledger

Features of accounting ?

Started business with cash RS 90000 stock 30,000 Purchase परचेज फर्नीचर परचेज फर्नीचर फॉर कैश फॉर कैश 15000 में चेक पैड कैरिंग चार्ज रुपीस 1000 इन कैश सोल 1 की 2 का अबोव स्टॉक तो राम ऑन क्रेडिट रिसीव फ्रॉम राम आफ्टर ए डिस्काउंट का 200 रेंट पैड रुपीस 7000 आउट ऑफ़ व्हिच 2000 इस प्रिपेयर्ड

Accounting equation practical problem so Accounts

Paid cash to kamlesh rs 15000

Chapter 3 question number 21

Goods of the selling price of 3000 are further withdrawn by Sonia for personal use 20% of cost is added to fix up the selling price

Show the Accounting equation for the following transaction (i)Gopinath started business with cash