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On the basis of the following information, credit following ratios A. Operating ratio B. Liquidity ratio C. Proprietor ratio Information.:- Cash revenue from operations rs 400000, credit revenue from operations rs 275000, revenue from operations return rupees 27000 cost of revenue from operations rupees 390000 sailing and its distribution expenses rupees 7000 administration expenses rupees 3000 current liabilities rupees 195000, current assets rupees 394000, closing inventory rupees 23000 ,equity share capital rupees 437000 , 6% preference share capital rs 174000, fixed assets rs 430000

Posted by Priyanshu Tiwari 6 years, 10 months ago

CBSE > Class 12 > Accountancy

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B and C are partner sharing profit in the ratio 3 2. Goodwill appears in the book at Rs3000 DIs admitted into partnership on payment of 2000 for 1/4, share as goodwill .B and C between themselves.Sharing future profit and loses equally given journal.

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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Posted by Shashank Shukla 1 year, 4 months ago

CBSE > Class 12 > Accountancy

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Posted by Munni Lal 1 year, 5 months ago

CBSE > Class 12 > Accountancy

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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, 2 months ago

CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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