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Pari and neha are partners firm …

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Pari and neha are partners firm sharing profit and losses are equally on 1 st april 2017 they decide to share future profit ratio in the 2:1 .on the day of implementation of the decisions the profit and losses account showed a debit balance 30,000 and a general reserve of 18,000.record the nrcessary journal entries for the distribution of the balance in profit and losses account and general reserve for the changing in profit sharing ratio

Posted by Saloni Singh 2 years, 10 months ago

CBSE > Class 12 > Accountancy

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Preeti Bajaj 4 years, 4 months ago

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Archana Singh 2 years, 5 months ago

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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Posted by Tanishk Kabra 1 year, 5 months ago

CBSE > Class 12 > Accountancy

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Posted by Riya Chandan 1 year, 4 months ago

CBSE > Class 12 > Accountancy

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Posted by Palak Sharma 1 year, 4 months ago

CBSE > Class 12 > Accountancy

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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, 4 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

0 answers

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Posted by Palak Kumari 3 months, 2 weeks ago

CBSE > Class 12 > Accountancy

0 answers

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