Manoj naresh and Om where commerce …

Manoj naresh and Om where commerce students they had obtained computer as a vocational subject while doing their BCom they decided to start a computer business after doing their become they prepared a partnership deed containing the following process name of the frame will be first computers capitals Manoj will contribute 400000 and narration Om 300000 his profit sharing ratio profit will be shared in the ratio of capital contribution interest on capital interest on capital will be allowed at 10:00 % per annum it will be ordered one leave when there is profit interest on drawing interest on drawings is to be charged that while % per annum salary to a partner no partners entitled to any salary aur commission for taking part in the conduct of business they started business on 1st April 2019 and each partner deposited the shares of capital in the bank account opened in a friend's name on the same date they purchased in computers at 60000 each and made the payment from the bank they deposited 20000 from the electric connection in the electricity board and take a deposit of 120000 with me as a null for Internet and telephone connection they got the computer Cafe furnished by play paint 30,000 they also spent 5000 on advertisement all payments were to be made by checks and all the rest were to be deposited in the bank on the same day at the end of the year the results were purchases on computer stationery 80000 revenue from fees received from students 240000 revenue on account of internet facility 210000 revenue from sales of computer stationery 150000 wages paid to rent 9600 telephone charge 62000 electricity 36000 entertainment expenses 5500 maintenance expenses 6030 expenses 4000 they withdrew from the bank for their personal use as follows Manoj 50000 rs 20,000 and Om 10000 you are required to join analyse the about transaction post them into ledger accounts and prepare a trial balance prepare trading and profit and loss account and balance sheet taking into consideration that the telephone bill bill 15000 City bill of 3008 to be played charge depreciation at the rate of 25 % on computers and 50% on furniture shop comment on the efficiency of the business if the gross profit ratio and net profit ratio similar type of the business concern or 45 % and 20 % respectively their approach to the bank for a loan of 400000 compute the ration ratios that the banker will require from the granting the loan.

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Joy and Bijoy started a partnership business on 1st April 2019 bringing a capital of 60,000 and 40.000respectively. On 1st December , 2019, Bijoy gave a loan of ? 20.000 to the firm at an interest of 9% per annum. During the year they made a profit of 30,000. The other terms and conditions of the partnership were as follows The profits and losses would be shared in the ratio of initial capital. (1) Bijoy would be entitled to a salary @ 600 per month (i) Drawings of the partners were : Joy * 6,000 : Bijoy 9.000 Show Profit and Loss Appropriation

animesh ltd.issued 1000, 12%debenture of 100 each in the following manner: for cash at par at rs 50000nominal value .for creditor of rs 45000against purchase of machiinery at nominal value of rs 35000. to SBI bank against a loan of rs 10000 as collateral security at nominal value of rs 15000.pass journal entries

Active blunt end circle started a business on 1st April 2017 with capital of 450000 6 lakh and 350000 according to partnership agreement: (1) profit earned in any year will be distributed as under: Up to 270000-equally Excess over 270000-one-half to active,one sixth to blunt and one third to circle (2)provide interest on capital and drawing @6%p.a. (3)circle is entitled to get a monthly salary of 4000 and Bullet is entitled to get a monthly salary of 6000 in addition to above circle and blunt are entitled to get a commission of 5% each on net of profit after taking into consideration the interest and all commissions Drawing of partners during the year were: Active withdrew regularly 5000 at the beginning of every month Blunt withdrew regularly 7000 at end of every month Circle withdrew 80000 during the year Profit for the year 593120 prepare partners current account

On March 31st ,2020 the balances in the capital accounts of Alka, Hardik and Ramneek after making adjustment for profits and drawings were rupees 9,00,000;rupees 5,00,000 and rupees 3,00,000 respectively.Subsequently it was discovered that the interest on capital and drawings has been omitted .The profit for the year ended 31st March 2020 was rupees 1,80,000.During the year Alka and Ramneek each withdrew a sum of rupees 40000.Hardik withdrew a total of rupees 60,000 in equal installments in the middle of each quarter. Interest on drawing was to be charged @ 5% p.a. and interest on capital was to be allowed @10% per annum. The profit sharing ratio was 3:1:1. Showing your working clearly ,pass the necessary rectifying entry.

 A comprehensive project taking any sole proprietorship business and this Accounts project for Class 12 must state the following: 1. Journal Entries 2. Ledgers 3. Preparation of Trial Balance 4. Balance Sheet 5. Trading Account 6. Profit and Loss Account 7. Use Pie Chart or Bar Diagram to show Incomes, Profit or Loss and Assets and Liabilities Note: It is mandatory to write the narration for every journal entry project

Durga ltd invited applications for issuing 100000 shares of ₹10each at par. On application ₹2per share on allotment ₹ 3 per share on final call ₹5 per share. Applications were received for 280000 shares. Applications for 30000 shares were rejected and the money refinded.

X and Y were partners sharing profit and loss in the ratio of 2:1 respectively the following was their balance sheet as at 31 march 2020

Maira retail chain Ltd.,an unlisted company ,had 6000,8% debenture of 1000 each outstanding for redemption to be redeemed as follows : On 31march ,2020. 3000 debenture On 31 March 2021. 2000 debenture On 31 March 2022 .. balance debenture It complied with the requirements of companies act,2013 by transferring amount to DRR on 31 March, 2020 and invested in fixed deposit with SBI on 1 April ,2019 , which proportionate amount of investment was to be redeemed Pass necessary journal entries .

Mr tushar decided