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Advantages of financial statements

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Advantages of financial statements

    • Posted by Ayush Bhadana 2 months, 1 week ago

    CBSE > Class 12 > Accountancy
    • 0 answers
    ANSWER
    http://mycbseguide.com/examin8/

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    Thread, Needle and Button are in partnership and during the year ended 31st March 2017, they earned a profit of ₹83,000. Thread and Needle are entitled to 10% per annum interest on capital of ₹60,000 and ₹1,00,000 respectively. Button who has no capital in the firm is entitled to a salary of ₹12,000 p.a. Button is also entitled to a commission of 10% on the profits after charging interest, salary and commission. It is further agreed that the balance of profits should be appropriated as to 20% for charity fund and balance is shared equally by Thread and Needle. Prepare Profit and Loss appropriation account and partners capital account and current account for the year ended 31st March 2017, if the drawings

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    • Posted by Ayushi Tripathi 4 days, 17 hours ago

    CBSE > Class 12 > Accountancy
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    SA Alam earned the profits of firm for the your year ended 31st March for the last four year were: (204) 1.01,000. (2015) 1,24,000. 2016) 1,00,000 and (2017) 1,50,000. of the firm on the calculate the value of goodwill of the basis of the wighted average postits after 3 year at purchase etter assigning Additional Information on weights 1,2,3,4. () A mayor plant repair was undertaken for 30,000, which was charged to on revenue. sep 2016 •The said sum is to be capitalised for goodwill calculation subject Page 1 depreciation of 10.1% pens an reducing de adjustment of depreciation of 10×10 belance method. closing stock to the year 2015 was overvalued. 12,000. (iii) To cover menagerien cast an annual cheage of 44,000 should be made for the -goodwill. purpose of valuation to

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    CBSE > Class 12 > Accountancy
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