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Illustration 17 of cash flow statement

Posted by Raj Verma 1 day, 14 hours ago

CBSE > Class 12 > Accountancy

1 answers

Vishal Yadav 1 day, 13 hours ago

Illustration 17 of which book broo

ANSWER

Ativ,Meha and nupur are partners sharing profits and losses in the ratio of 5:3:2on 31/3/2016

Posted by Muskan Kumari 1 day, 19 hours ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

5. David and John were partners in a firm sharing profits in the ratio of 4: 1. Their capitals on 1.4.2006 were: David Rs.2,50,000 and John Rs.50,000. The partnership deed provided that David will get a commission of 10% on the net profit after allowing a salary of Rs.2,500 per month to John. The profit of the firm for the year ended 31.3.2007 was Rs.1,40,000. Prepare Profit and Loss Appropriation Account. [4]

Posted by Saurav Razz 2 days, 18 hours ago

CBSE > Class 12 > Accountancy

1 answers

Sneha Mishra 1 day, 16 hours ago

Share of profit transferred to cap ac of David will be 79200 and John will be 19800

ANSWER

When the rate of interset on drawing is given without the word per annum interest will be calculate

Posted by Nirjala Goswami 3 days, 14 hours ago

CBSE > Class 12 > Accountancy

3 answers

Sneha Mishra 1 day, 16 hours ago

Int will be charged annually

Santosh Sharma 2 days, 15 hours ago

6months

Dharmesh Srivastava 3 days, 12 hours ago

6%

ANSWER

From the following information claculate any 2 of the follow ratios

Posted by Isha Arni 4 days, 15 hours ago

CBSE > Class 12 > Accountancy

1 answers

Saurav Razz 2 days, 18 hours ago

Debt-equity ratio, working capital turnover ratio and return on investment

ANSWER

neha and preeti are two partners who share profits and losses equally had following balance sheet as at 31 march 2015. they had decided to admit chandra in partnership as equal partner on that date. cbse sample papers for class 12 accountancy paper 3 16a for the purpose of admission, the following conditions agreed. (i) assets and liabilities shall be revalued as follows: (a) investments at rs 17,500. (b) reserve to be doubtful debts increased to rs 1,750. (c) stock to be valued at 8,000. (d) machinery depreciated by 5%. (e) there is an old furniture worth 1,200 to be brought into books and was taken over by partners in old profit sharing ratio. (ii) goodwill of the firm is valued at 22,500. (iii) chandra has agreed to bring 50,000 as his capital in addition to goodwill. (iv) the capital account have to be adjusted on the basis of chandra’s capital formation through current accounts. prepare revaluation a/c; capital a/c of partners and balance sheet of firm after chandra’s admission.

Posted by Harshita Agrawal 4 days, 19 hours ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

The Q4 report of a company gives following information about its version segment performance

Posted by Mukul Gurjar 5 days, 20 hours ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

1 Q. 2. Manu and Kanu were partners in a firm, sharing profits and losses in the ratio of 2:3. Their fixed capitals were ₹10,00,000 and ₹5,00,000, respectively. They were entitled to an interest on capital @ 10% p.a. The firm earned a profit of 60,000 during the year. The amount of interest on capital credited to Kanu will be: (A) 20,000 326.000 (B) 40,000

Posted by Bhati Bhati 6 days, 20 hours ago

CBSE > Class 12 > Accountancy

2 answers

Santosh Sharma 2 days, 15 hours ago

₹ 20,000

Bhati Bhati 6 days, 20 hours ago

20000

ANSWER

Madhuri and Arsh were partners in a firm sharing profits and losses in the ratio of 3 = 1 Their Balance Sheet as it 2022, was as follows: Liabilities Capitals: Madhuri Arsh 2.00.000 Workmen's Compensation Fund Creditors Employees' Provident Fund Amount () Assets Machinery Investments Debtors 1,20,000 10.000 1,10,00 1,40,00 30,0 8,60,00 5,00,000 Less: Provision for doubtful debts 60,000 Stock 1,90,000 Bank Amount C 4.70,00 1.10,00 1,10,000 8,60,000 On 1st April, 2022, they admitted Jyoti into partnership for 1/4th share in the profits of the firm. Jyoti brought proporti 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, which was to be paid later. (vi) Creditors included a sum of 27,000 which was not likely to be claimed. Our Partners Canital Account, and the Balance Sheet of the reconstituted firm.

Posted by Jay Garg 6 days, 20 hours ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Calculate Purchase on Investment. The information is Opening balance of Investment - ₹ 2,50,000, closing balance Investment - ₹ 5,00,000, Sale - ₹ 1,37,500, Profit on sale - ₹ 12,500.

Posted by Chandan Shukla 1 week ago

CBSE > Class 12 > Accountancy

1 answers

Varsha Sehrawat 1 day, 20 hours ago

3,75,000

ANSWER

X and y are partners share profit is ratio 3 ratio 2 with capitals of 80,000 and 60,000 respectively interest on capital is agreed @5% p.a Y is allowed an annual salary of 6,000 which has not been withdrawn profit for the year ended 31st March 2018 before interest on capital but after charging y's salary amounted to 24,000 A provision of 5% of profit is to be made in respect commission to the manager

Posted by Raja Semwal Raja 1 week, 1 day ago

CBSE > Class 12 > Accountancy

1 answers

Dhruv Kalra 1 week, 1 day ago

Profit and Loss Adjustment Account for the year ended 31st March 2019 Dr. Cr. Particulars Amount (₹) Particulars Amount (₹) Manager’s Commission (3,00,000×5%) 15,000 Profit and Loss A/c (Net Profit after Y’s salary) 2,40,000 Y’s Salary 60,000 Profit transferred to Profit and Loss Appropriation A/c 2,85,000 3,00,000 3,00,000 Profit and Loss Appropriation Account for the year ended 31st March 2019 Dr. Cr. Particulars Amount (₹) Particulars Amount (₹) Salary to Y 60,000 Profit and Loss Adjustment A/c 2,85,000 Interest on Capital: (After manager’s commission) X 40,000 Y 30,000 70,000 Profit transferred to: X’s Capital A/c 93,000 Y’s Capital A/c 62,000 1,55,000 2,85,000 2,85,000 Working Notes: WN 1 Calculation of Manager’s Commission Profit for making Managers’ Commission = 2,40,000 + 60,000 (Y’s Salary) = ₹3,00,000

ANSWER

34. From the following information, prepare a Cash Flow Statement: Balance Sheet as at 31 March, 2022 Note No. 31.3.2022 (7) 31.3.2021 (1) 1,35,000 Particulars 1. EQUITY & LIABILITIES 1. Shareholders' Funds: (a) Share Capital (b) Reserves and Surplus 2. Non-Current Liabilities (10% Debentures) 3. Current Liabilities: (a) Trade Payables (b) Short-term Provisions 130,000 2 22,000 15,000 4,000 -13,000 8.500 8,000 12,500 10,000 3 Total 1,94,500 1.63.500 II. ASSETS 132,000 1,41,000 8,000 10,500 3,000 1. Non-Current Assets: (a) Property, Plant and Equipments and Intangible Assets (1) Property, Plant and Equipments (Tangible) 0 Intangible Assets (Goodwill) (b) Non-Current Investments 2. Current Assets: (a) Cash and Cash Equivalents (b) Other Current Assets 10,000 13,000 12,000 22.500 6,000 Total 1,94,500 1,63,500 Notes to Accounts: 31.3.2022 (3) 31.3.2021 (3) Particulars 1. Share Capital 3.30.000

Posted by Baljinder Kaur 1 week, 1 day ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Jaya Jaya limited issues 60000 shares of rs 10 age at premium of rs 2 per share people as RS 3 on application rs 5 including premium on allotment and the balance on first and final call applications for received for 82000 share the director is salt to a lot as follows applicants of 30000 shares 20000

Posted by Tanisha Chandani 1 week, 1 day ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

‘Sale of goods’ comes under which activity in cash flow statement?

Posted by Varsha Sehrawat 1 week, 2 days ago

CBSE > Class 12 > Accountancy

1 answers

Varsha Sehrawat 1 day, 20 hours ago

Operating activity

ANSWER

Rao and Reddy were partners in a firm sharing profits in the ratio of 3: 1. They admitted Rustum as a new partner for 3/8th share in the profits. The new ratio will be 3:2: 3, Rustum brought ? 2,00,000 60,000 Cash 20,000 1,00,000 for his capital and 50.000 for his share of premium for goodwill. On 31-3-2007, their Balance Sheet was as follows: Liabilities Creditors Bills Payable Capital Accounts: Rao Reddy It was agreed that: (1) Stock to be valued at ? 2,00,000. (2) Machinery will be depreciated by 12% and Furniture by 2,000 (3) A provision of 5% for Bad and Doubtful Debts will be made on Debtors. (4) The Capital Accounts of all the partners were adjusted in the new profit-sharing ratio after admission. For surplus or deficiency, the Current Accounts were to be opened, Prepare Revaluation Account, Partner's Capital

Posted by Nj Classes 1 week, 2 days ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

A B C are partners profit sharing ratio is 8:7:5 . D is admit for 1/4 th share . B sacrifice 1/10 th from his share favour of D and reaming sacrifice was made by A and C in the ratio 2:1 calculate sacrifice and new profit sharing ratio

Posted by Satyam Singh Satyam 1 week, 3 days ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Shiva ltd. Issued 30000 shares of rs. 10 each @ premm of rs 2 payable as under On application - rs 4 On allotment - rs 3 On share 1 and final call - rs 5 (including premm) Application was recived for 85000 shares and pro rata allotment was made among all the applicants. Excess application money was to be adjusted towards allotment and call. All calls were made and duly recived except Anu who applied for 3400 shares and did not pay anything thereafter. Her shares were forfeited after final call and these shares were reissued for rs 9 fully paid up.

Posted by Vedanti Verma 1 week, 3 days ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

The payment to m/s. Furniture mart was made by issuing equity shares of ₹10 each at a premium of 25%

Posted by Pushkar Roll No 30 1 week, 4 days ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Rahul started his business with Rs. 40,00,000 which he arranged by getting a loan of Rs. 30,00,000 from his father & Rs. 10,00,000 from a Bank @12% p.a. He bought machines for Rs. 25,00,000 raw material for Rs. 8,80,000 & paid rent of Rs. 12,000 during the year. What percentage of total funds at his disposal has been spent on various activities?

Posted by Gurkirat Kaur 1 week, 4 days ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

7.Jatin and Lalit are partners sharing profits and losses in the ratio of 3:2. Their Balance Sheet as on 31st March 2018 was as follows. Rs 8,000 1,20,000 20,000 Liabilities Rs Assets Outstanding Expenses 20,000 Cash Bills payable 76,000 Sundry Debtors Creditors 70,000 Less Pro. For D/D Workmen Compensation Fund 70,000 Stock Investment Fluctuation Fund 20,000 Investments General Reserve 40,000 Furniture Capital Account: Machinery Jitin Rs 2,00,000 Lalit Rs 1,60,000 3,60,000 1,00,000 80,000 1,00,000 60,000 3,08,000 6,56,000 6,56,000 On 1st April 2018 they admitted Kishore as a partner for 1/10th share in profits which he acquired equally from Jitin and Lalit on the following terms. (1). Kishore is to bring Rs 50,000 as capital, (l1). The Goodwill of the firm is valued at Rs 60,000 and Kishore will contribute his share of goodwill in cash. (ili). Provision on Debtors was found to be excess by Rs 4,000. (iv). Outstanding Expenses will be reduced to Rs 6,000. (v). Depreciate stock by 5%. (vi). Market value of Investment was Rs 70,000.

Posted by Simran S 1 week, 5 days ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Vinod Vijay venkat are partners

Posted by Ritika Rawat 1 week, 6 days ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Determine operating ratio, if operating expense is 120000, cost of revenue from operations 1320000& gross profit 180000

Posted by Fathima Kareem 2 weeks ago

CBSE > Class 12 > Accountancy

2 answers

Anshika Jain 1 week, 3 days ago

Operating ratio is operating cost divide by revenue firm operation And Operating cost is COGS plus OPERATING EXPENSES So answer is 1440000/1500000*100 =96%

Pushkar Roll No 30 1 week, 4 days ago

126% Answer - 126.315789

ANSWER

Y ltd . Reported a net profit after tax of RS.310000 for the year ended 31st march 2016 .the relevant items of balance sheet appeared as follows: Inventory -:Py- 450000 ,cy- 390000 Trade receivables-:py-150000,cy-220000 Trade payables-:py-60000,cy-80000 Prepaid expenses-:py-4000,cy-10000 Goodwill-:py-40000,cy-30000 Provision for taxation-:py-30000,cy-22000 Following item appeared on the profit and loss statement for the year ended 31st march 2016: 1)bad debts written off during the year -10000 2)depreciation on fixed assets charged during the year -34000 Calculate the net cash flow from operating activities.

Posted by Muhammad Aadil Adil 2 weeks, 1 day ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

E, F and G were partners in a firm sharing profits in the ratio of 3 : 3:4. Their respective fixed capitals were E 3,00,000; F 4,00,000 and G 5,00,000. The partnership deed provided for allowing interest on capital @ 12% p.a. even if it results into a loss to the firm. The net profit of the firm for the year ended 31st March, 2020 was 2,10,000. Pass necessary journal entries for allowing interest on capital and division of profit/loss in the books of the firm

Posted by Cristiano Ronaldo 2 weeks, 2 days ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Raman Ltd paid rs 60000 as installment for machinery purchase on credit which included interest rs 10000 how will this payment be presented while preparing cash flow statement

Posted by Yash Satwal 2 weeks, 4 days ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Usha and asha are partners in a firm sharing profit in the ratio of 2:1. Their balance sheet as on 31 St March , 2022 was as follow

Posted by Muskan Shaw 2 weeks, 4 days ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

What is this Goodwiil

Posted by Annu Sen 2 weeks, 6 days ago

CBSE > Class 12 > Accountancy

5 answers

Anshika Jain 1 week, 3 days ago

Goodwill is the name and fame of the company in the market.

Bhoomika Maheshwari 2 weeks ago

Goodwill is that intangible asset of a business that help the business to earn more than normal profits without putting extra efforts

Mohit Kumar 😒 2 weeks, 1 day ago

Goodwill is an intangible asset it is self generated and it is not record in accounting book.

Sneha . 2 weeks, 4 days ago

Goodwill is an intangible asset

Prateek Dwivedi 2 weeks, 6 days ago

Goodwill is like reputation like if company has a Goodwill in market they will get loan easily

ANSWER

Debt to equity ratio

Posted by Rohit Jaiswal 2 weeks, 6 days ago

CBSE > Class 12 > Accountancy

2 answers

Ritu Kumari 2 weeks, 6 days ago

Total Asset / Debt

Khushi Sharma 2 weeks, 6 days ago

Debt to equity ratio =Debt/Equity Debt = long term borrowing + long term provision Equity=share capital + reserve and surplus

ANSWER

30 journal entries with gst

Posted by Amrutha S 3 weeks, 1 day ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Accounts project with gst

Posted by Amrutha S 3 weeks, 1 day ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

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