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What do you mean by accounts

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What do you mean by accounts

    • Posted by Akash Nandy 1 year, 10 months ago

    CBSE > Class 12 > Accountancy
    • 1 answers

    Varsha Yadav 1 year, 10 months ago

    a record of debit and credit entries to cover transactions involving a particular item (as cash or notes receivable) or a particular person or concern. : a statement of transactions during a fiscal period showing the resulting balance

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    The capital of the firm of anuj and benu is , 100000 and the market rate of interest is 15% . Annual salary to the partner is 60000 each. The profit for the last three years were , 300000 ,360000 , 420000. Goodwill of the firm is to be valued on the basis of two years purchase of last three years average super profit

    • Posted by Annu Sahani 4 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
    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 month, 2 weeks ago

    CBSE > Class 12 > Accountancy
    • 0 answers
    Ativ, Meha and Nupur were partners in a firm sharing profits and losses in the ratio of 5 : 3:2. On 31-03-2016 their Balance sheet was as under: Liabilities Amount (T) Assets Amount (R) | Trade Creditors 26,500 Bank 23.500 Debtors 1,00,000 Stock 50,000 Fixed Assets 40,000 Advertisement Expenditure 25,000 Employees Provident Fund Ativ's Capital Meha's Capital 30,000 55,000 1,20,000 Nupur's Capital 10,000 2,40,000 2,40,000 Ativ retired on 1-4-2016. For this purpose, the following adjustments were agreed upon: (i) Goodwill of the firm was to be valued at 2 years purchase of the average profits of 3 completed years preceding the date of retirement. The profit for previous years were: 2013-14 55,000; 2014-15 7 65,000; 2015-16 7 60,000.

    • Posted by Munni Lal 4 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
    On 1st April ,2019 ,Mathew Ltd issued 10,000,9%Debentures of rs.100each at a discount of 5%,redeemable at premium of 5%.These debentures were redeemable as follows: On 31st March ,20-2000debentures On31st March,21. 5000Deb On 31st March 22. 3000Debentures . Prepare account for loss on issue of debenture , 9%Debentures ,and premium on redemption

    • Posted by Riya Chandan 4 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
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    • Posted by Palak Kumari 3 months, 3 weeks ago

    CBSE > Class 12 > Accountancy
    • 0 answers
    Accounting for partnership Firms Fundamentals notes

    • Posted by Mohd Aman Mansoori 4 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
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    • Posted by Palak Sharma 4 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
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    • Posted by Shashank Shukla 3 months, 3 weeks ago

    CBSE > Class 12 > Accountancy
    • 0 answers
    Gita Radha and Garv are partner sharing prophets in the ratio of 1 by 2 2 by 5 and 1 by 10 find the new profit sharing ratio of the remaining partners if girl retires

    • Posted by Mahi . 3 months, 4 weeks ago

    CBSE > Class 12 > Accountancy
    • 0 answers
    U and V Were Partners in a firm

    • Posted by Tanishk Kabra 4 months, 1 week ago

    CBSE > Class 12 > Accountancy
    • 0 answers

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