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Difference between capital reserve and reserve

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Difference between capital reserve and reserve

Posted by Tripathi Creations 4 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Amit Kushwaha 4 years, 6 months ago

Reserve is a part of profit and capital reserve is abnormal profit

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Related Questions

A, B and C were partners in a firm having capitals of ₹2,00,000; ₹2,00,000 and ₹80,000 respectively on 1st April, 2022. Their Current Account balances were A : *20,000; B: ₹10,000 and C: ₹5,000 (Dr.). According to the partnership deed the partners were entitled to interest on capital @ 10% p.a. B being the working partner was also entitled to a salary of ₹6,000 per quarter. The profits were to be divided as follows: (a) The first ₹60,000 in proportion to their capitals. (b) Next 1,00,000 in the ratio of 4: 3: 1. (c) Remaining profits to be shared equally. The firm made a profit of ₹2,80,000 for the year ended 31st March, 2023 before charging any of the above items. Prepare the Profit & Loss Appropriation Account and pass necessary journal entry for apportionment of profits.

Posted by Lakshay Agarwal 5 days, 14 hours ago

CBSE > Class 12 > Accountancy

0 answers

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Posted by Chhavi Jain 1 week, 4 days ago

CBSE > Class 12 > Accountancy

1 answers

Calculate the interest on drawings of X @ 10% p.a. for the year ended 31st March, 2018 in each of the following cases:- 1. If his drawings during the year were Rs. 12,000 2. If he withdrew Rs. 1,000 p.m. at the beginning of every month. 3. If he withdrew Rs. 1,000 p.m. at the end of every month. 4. If he withdrew Rs. 1,000 p.m. In the middle of each month. 5. In he withdrew the following amounts; April 30th Rs. 3,000, June 30th Rs. 2,000, October 1st Rs. 4,000, December 31st Rs. 1,500, February 1st 2,500 6. If he withdrew Rs. 3,000 at the beginning of each quarter 7. If he withdrew Rs. 3,000 at the end of each quarter. 8. If he withdrew Rs. 3,000 during the middle of each quarter.

Posted by Soniya Yadav 2 weeks, 1 day ago

CBSE > Class 12 > Accountancy

0 answers

On 1 April 2021 x, y and z starded a business un partnership contribute 90000 at first

Posted by Shivangi Shivi 1 week, 2 days ago

CBSE > Class 12 > Accountancy

0 answers

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Posted by Tanvi Chogale 2 days, 21 hours ago

CBSE > Class 12 > Accountancy

2 answers

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Posted by Prachi Yadav 2 days, 21 hours ago

CBSE > Class 12 > Accountancy

0 answers

On 1st April, 2015 X, y and X started a business in partnership. X contribute rupees 90,000 at first but withdraws rupees 30,000at the end of six months. Y introduces rupees 75,000 at first and increases it to rupees 90,000 at the end of four months, but withdraws it by rupee 60,000 at end of seven months. During the year ended 31st March 2016, they make a net profit of rupees 42,000. Show how the partners should divided this amount on the basis of effective capital employed by each partner.

Posted by Sushant Kamboz. 2 weeks, 2 days ago

CBSE > Class 12 > Accountancy

0 answers

This content has been hidden. One or more users have flagged this content as inappropriate. Once content is flagged, it is hidden from users and is reviewed by myCBSEguide team against our Community Guidelines. If content is found in violation, the user posting this content will be banned for 30 days from using Homework help section. Suspended users will receive error while adding question or answer. Question comments have also been disabled. Read community guidelines at https://mycbseguide.com/community-guidelines.html

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Posted by Prachi Yadav 2 weeks ago

CBSE > Class 12 > Accountancy

0 answers

how to find sacrificing ratio and gaining ratio

Posted by Vansh Saini 1 week ago

CBSE > Class 12 > Accountancy

0 answers

Rajesh and Rakesh are partners in a firm sharing profit and loss in the ratio 3:2 there their balance sheet as 31st March 2023 students follows

Posted by Srinivas Srinivas 1 week, 4 days ago

CBSE > Class 12 > Accountancy

1 answers

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