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On 1 april 2018 X.Y.Z started …

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On 1 april 2018 X.Y.Z started business X contribute 90000 at first but withdraw 30000 at the end of six months.Y introduce 75000 at first and increase it to 90000 at the end of four months but withdraw 30000 at the end of eight months Z brings 75000 at first but increases it by 60000 at the end of seven months During the year ended 31 March 2019 they make a net profit 42000 Show how the partners should divide this amount on the basis effective capital employed by each partner

Posted by Akansh Sahu 1 month, 1 week ago

CBSE > Class 12 > Accountancy

1 answers

Dhruv Yadav 3 weeks, 2 days ago

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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 Chhavi Jain 3 days, 9 hours ago

CBSE > Class 12 > Accountancy

1 answers

(Interest on capital when closing capital is given) A and B are partners sharing profits and losses in the ratio 4: 3. Their capital on 31st December, 2022 were 3,00,000 and 2,00,000 respectively. During the year, their drawings were 50,000 each. The firm earned profit amounting to 70,000 for the year ending 31st December, 2021. Later on they decided that interest on their capital be charged at 10% p.a. Compute interest on Capital.

Posted by Saksham Aryan 1 week, 6 days 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 23 hours ago

CBSE > Class 12 > Accountancy

0 answers

Pooja and Archna are parmas in a finn sharing profits and losses 1. Their capital accounts as en 1st April, 2017 stand at 70,000 ratio of 2 respectively. The partners the partners during s are allowed muret in capital @ 10% the year ended 31st March, 2018 amounted to p.a. The respectively. Interest is charged on drawings at the tale of 10% p.a. and t 1st December 1st February Interest on drawings is charged @ of A for the year ended 31st March, 20 [Ans. Interest on Drawings ₹221. Q. 22 (A). Gopal is a partner in a dras first day of every month during th If interest on drawings is c drawings of Gopal. 4,800 and Pooja has given a loan to firm as on 1st November, 2017 of ₹20,000. The profit of the firm for the year ended ist March, 2018 before adjustments was 280,000. 10% of this pult is beligt in a Reserve Account Current A/c balances on 1st April, 2017 wet Pooja ₹5,000 (Cr.); As 23,000 (Dr

Posted by Himalaya Singhal 1 week, 5 days 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 2 days, 13 hours ago

CBSE > Class 12 > Accountancy

1 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. 1 week ago

CBSE > Class 12 > Accountancy

0 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 1 week ago

CBSE > Class 12 > Accountancy

0 answers

Tom and Josh are partners in a firm sharing profits and losses in the ratio of 3 1. They admed Max as a new partner 1/10th share in the profits and losses. Max contributes the following assets to his capital and his share for goodwill: Sma a0,000 Land and Building 3,00,000, Plant and Machinery 2,60,000, Capital 74,00,000. Record the journal entries in the books of the firm on Max's admission. necesey

Posted by Vansh Sharma 2 weeks, 1 day ago

CBSE > Class 12 > Accountancy

0 answers

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Posted by Prachi Yadav 6 days, 1 hour ago

CBSE > Class 12 > Accountancy

0 answers

Madhuri and Arsh were partners in a firm sharing profits and Their Balance Sheet as at 31 ^ (st) * M * a * r * c * h 2019, was as follows: losses in the ratio of 3: 1. Balance Sheet of Madhuri and Arsh As on 31 ^ (st) March, 2019 4 Assets Amount (3) Liabilities Amount () 4,70,000 1,10,000 Capital Madhuri Arsh 1,20,000 2,00.000 Machinery Investments 5,00,000 Debtors Less: Provision for doubtful 60,000 debts Workmen's Compensation Fund (10,000) 1,10,000 Creditors Employees' Provident Fund 1,90,000 Stock 1,10,000 8,60,000 Cash 1,40,000 30,000 8,60,000 On 1 ^ (st) April, 2019, they admitted Jyoti into partnership for 1 / (4 ^ (th)) share in the profits of the firm. Jyoti brought proportionate capital and 40,000 as her share of goodwill premium. The following terms were agreed upon; (i) Provision for doubtful debts was to be maintained at 10% on debtors. (ii) Stock was undervalued by 10,000. (iii) An old customer whose account was written off as bad, paid 15,000.. (iv) 20% of the investments were taken over by Arsh at book value. (v) Claim on account of workmen's compensation amounted to 70,000. (vi) Creditors included a sum of 27,000 which was not likely to be claimed. Prepare Revaluation Account, Partners' Capital Accounts and the Balance Sheet of the reconstituted firm

Posted by Pozhil Veer 1 week, 6 days ago

CBSE > Class 12 > Accountancy

0 answers

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