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purchased a plant from gujarat ltd.for 2800000it is issued 10000shares of 100each at 10/premium and 900010/debenturesof 100rs each at 10/discount and balance payment was made in cash solve this sum and pass journal entries

Posted by Husan Dhaliwal 3 hours ago

CBSE > Class 12 > Accountancy

1 answers

Avika Gupta an hour ago

Plant a/c Dr. 2800000 To Gujarat Ltd. 2800000 Gujarat Ltd. A/c Dr. 2710000 Discount on issue of debentures a/c Dr . 90000 To deb a/c 900000 To share capital a/c 1000000 To SPR a/c 100000 To bank a/c 800000

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Can anybody solve this sum

Posted by Husan Dhaliwal 3 hours ago

CBSE > Class 12 > Accountancy

0 answers

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Project topics

Posted by Maha Lakshmi 7 hours ago

CBSE > Class 12 > Accountancy

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Last name of npo

Posted by Arjun Rana 19 hours ago

CBSE > Class 12 > Accountancy

0 answers

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Yaha kis kis ke schle mei cbse ka.inspection hone wala h

Posted by Lovely Dhawan 21 hours ago

CBSE > Class 12 > Accountancy

1 answers

Nikunj Sarda 19 hours ago

✋

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The directors of. Company forfeited 1000 shares of 100 each on which 4000 had been paid. 400 of those shares were reissued upon payment of 3000. Give the journal entries.

Posted by Hiten Chadha 1 day, 2 hours ago

CBSE > Class 12 > Accountancy

1 answers

Khushi Varshney 21 hours ago

IF NO OTHER INFORMATION IS GIVEN LIKE CALLED UP AMOUNT ON SHARES AND IT IS ASSUMED TO BE FULLY PAID UP THEN THIS QUESTION WILL BE WRONG AS THE DISCOUNT ON REISSUE OF SHARES CANNOT EXCEED THE AMOUNT RECEIVED ON FORFEITED SHARES.

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Ali and Bahadur are partner's in a firm sharing profit and losses as ali 70% and Bahadur 30%.their respective capitals as at 1st April,2019 stands as ali rs.25,000 and Bahadur rs.20,000.the partners are allowed interest on capitals @ 5% p.a. drawings of the partners during the year ended 31st march,2019 amounted to rs.3,500 and rs.2,500 respectively.

Posted by Aaditya Raj 1 day, 10 hours ago

CBSE > Class 12 > Accountancy

1 answers

Ritesh Kumar 23 hours ago

so what can I do

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For which share of goodwill a partner is entitled at the time of retirement

Posted by Harsh Rana 1 day, 21 hours ago

CBSE > Class 12 > Accountancy

1 answers

Ashok Gaur 1 day, 19 hours ago

From the new goodwill of the firm the partner is entitled at the time of retirement.

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Can anyone provide me the detailed topics of dissolution of partnership firm according to the latest syllabus 2019-20

Posted by Shaily Jain 1 day, 23 hours ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

what does weight means

Posted by Rudransh Kaushal 2 days, 5 hours ago

CBSE > Class 12 > Accountancy

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1. X and Y are sharing profits and losses in the ratio of 5: 3. They admit Z and decide that the profit sharing ratio between Y and Z shall be the same as existing between X and Y.

Posted by Devañšh Ģöýăl 2 days, 6 hours ago

CBSE > Class 12 > Accountancy

1 answers

Suraj Kumar 1 day, 23 hours ago

The ratio between X and Y is 5:3. Hence, the ratio between Y and Z should also be the same i.e., 5:3 (or Y5/8,Z3/8). Thus, If the ratio of Y is 5, the ratio of Z should be =3 If the ratio of Y is 3/8, the ratio of Z should be =3/5 × 3/8 =9/40 New Profit sharing Ratio= 5/8:3/8:9/40=25:15:9/40 or 25:15:9 Calculation of Sacrificing Ratio Sacrificing Ratio=Old Share - New Share X's Sacrifice = 5/8 - 25/49 = 45/392;. Y's Sacrifice = 3/8 -15/49 = 27/392 Sacrificing Ratio of X and Y = 45/392 : 27/392 = 45:27 or 5:3

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All ncrte solutions

Posted by Priyanshu Sharma 2 days, 5 hours ago

CBSE > Class 12 > Accountancy

1 answers

Sia 🤖 2 days, 5 hours ago

You can check NCERT Solutions here : https://mycbseguide.com/ncert-solutions.html

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Swadesh and Swaraj were partners sharing profits equally

Posted by Anushka Deep 2 days, 20 hours ago

CBSE > Class 12 > Accountancy

3 answers

Vansh Sharma 19 hours ago

Pls complete the question ☺️🙂

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Mohd Muzammil 1 day, 19 hours ago

1:1

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Anoop Gupta 2 days, 20 hours ago

Question pura kro ya page no. Btao

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Lesson name npo

Posted by Shrey Pandey 2 days, 22 hours ago

CBSE > Class 12 > Accountancy

3 answers

Vansh Sharma 18 hours ago

Not-for-profits organisation

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Karankumar Chandel 2 days, 20 hours ago

Incurs means

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Harshit Mishra 2 days, 20 hours ago

This chapter is from accountancy book park 2 Name : non profit organisation

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As a director u hade invited application for 30000 equity share of rp10 each at premium of rp 2 pr share application noney received @rp2 pr share was 72000 .list the alternatives

Posted by Purshotam Lal Girdhar 2 days, 23 hours ago

CBSE > Class 12 > Accountancy

2 answers

Harsh Rana 1 day, 21 hours ago

Tell me why you divide 72000 by 2

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Harshit Mishra 2 days, 20 hours ago

Application money recived per share is Rs. 2 and the total money recived is 72000 so devide 72000 by 2 i.e. 36000 therefore the shares are oversubscribed by 6000 because the company has issued only 30000 shares for subscription Now if we go further the company has two options that is i) they can reject the applications for 6000 shares or ii) they can be alloted on the pro rata bassis

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why wages are direct expenses nad salaries are indirect expenses

Posted by Akshat Bahediya 3 days, 4 hours ago

CBSE > Class 12 > Accountancy

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Ayush Raj 3 days, 2 hours ago

Because wage is given at point of time and salary is given at period of time

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How to calculate new profit sharing ratio

Posted by Dhanush N 3 days, 10 hours ago

CBSE > Class 12 > Accountancy

3 answers

Limelight * 2 days, 5 hours ago

Ratio of old partners -sacrifice ratio

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Naveen Pandey 2 days, 7 hours ago

Old ratio New partner's share Total share which is always 1 Now 1-new partner share which is remaining share Now : Old×remaining share(by this you got new psr of axisting partner) New ratio of partner

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Ritesh Kumar 2 days, 23 hours ago

Old ratio - sacrificed ratio or old ratio +gaining ratio

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Interest on partners loan is created to the partners_

Posted by Riya Gaba 3 days, 11 hours ago

CBSE > Class 12 > Accountancy

1 answers

Ritesh Kumar 2 days, 23 hours ago

Loan a/c

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Can all the three accounts real nominal and personal be there in single journal entry?

Posted by Nancy Arora 3 days, 23 hours ago

CBSE > Class 12 > Accountancy

1 answers

Vaibhav Kamboj 2 days, 11 hours ago

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Npo is...easy ,when adjustment is not given in question

Posted by Shahil Anand 3 days, 23 hours ago

CBSE > Class 12 > Accountancy

2 answers

Anoop Gupta 2 days, 19 hours ago

Koi bhi pen mt leke jaana exam me tab pta chlega

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Aradhya Agarwal 3 days, 23 hours ago

Bhai to question ma bachenga ho kya Without adjustment the question is lol

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What do you mean by Hidden goodwill?

Posted by David Sid 4 days, 9 hours ago

CBSE > Class 12 > Accountancy

3 answers

Himanshu Jha 4 days, 3 hours ago

Image result for cbse 2020 exam date

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Himanshu Jha 4 days, 3 hours ago

Media posted by CBSE HQ #cbse joins the nation to celebrate 73rd

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Gaurav Seth 4 days, 8 hours ago

Hidden Goodwill means the value of goodwill that is not specified at the time of admission of a partner. If the new partner requires to bring the share of goodwill, then, in this case, we have to calculate the value of the firm’s goodwill.

Sometimes the value of goodwill is not given at the time of admission of a new partner. in that case the goodwill is calculated with the help of total capital/net worth of the firm and profit sharing ratio.

Hidden goodwill

When the value of goodwill is not given in the question, it has to be calculated on the basis of total capital/net worth of the firm and profit sharing ratio.

Illustration 8

X and Y are partners with capitals of ₹ 10,000 each. They admit Z as a partner for 1/4^th share in the profits of the firm. Z brings ₹ 16,000 as his share of capital.

The Profit and Loss account showed a credit balance of ₹ 8,000 as on the date of admission of Z. Give the necessary journal entry to record goodwill.

Working Note :-

Therefore, Hidden Goodwill =

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A and b are partners in a firm sharing profits in the ratio of 4:3 z is admitted as partner in the firm for 1/5 share. He brought 100000 as his of goodwill which is credited to a and b as 60000 and 40000 the new profit sharing ratio of A,B AND C WILL BE

Posted by Pranjal Jangid 5 days ago

CBSE > Class 12 > Accountancy

1 answers

Abhay Kumar 4 days, 9 hours ago

New psr is 3:2

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Posted by Nikhil ✨ 5 days, 3 hours ago

CBSE > Class 12 > Accountancy

2 answers

Miss Mor 4 days, 19 hours ago

Don't post personal information, mobile numbers and other details.
Don't use this platform for chatting, social networking and making friends. This platform is meant only for asking subject specific and study related questions.
Be nice and polite and avoid rude and abusive language. Avoid inappropriate language and attention, vulgar terms and anything sexually suggestive. Avoid harassment and bullying.
Ask specific question which are clear and concise.

Remember the goal of this website is to share knowledge and learn from each other. Ask questions and help others by answering questions.

0Thank You

Miss Mor 5 days, 1 hour ago

Don't post personal information, mobile numbers and other details.
Don't use this platform for chatting, social networking and making friends. This platform is meant only for asking subject specific and study related questions.
Be nice and polite and avoid rude and abusive language. Avoid inappropriate language and attention, vulgar terms and anything sexually suggestive. Avoid harassment and bullying.
Ask specific question which are clear and concise.

Remember the goal of this website is to share knowledge and learn from each other. Ask questions and help others by answering questions.

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ANSWER

Practical 72 of retirement and death of a partner

Posted by Aditi Thakur 5 days, 6 hours ago

CBSE > Class 12 > Accountancy

2 answers

Aditi Thakur 4 days, 22 hours ago

D.K Goel

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Himanshu Jha 5 days, 5 hours ago

Which book ?

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Where will income from advertisement amount will be adjusted in income and expenditure account

Posted by Madhavi Singh 5 days, 7 hours ago

CBSE > Class 12 > Accountancy

4 answers

Vaibhav Kamboj 2 days, 11 hours ago

Income ( cr) side

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Lovely Dhawan 4 days, 19 hours ago

It is the income of recurring nature...so it is a revenue receipt

1Thank You

Wasim Shaikh 4 days, 23 hours ago

Income Credit side

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Limelight * 5 days, 5 hours ago

Income (cr.) Side Of course

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Why is self generated goodwill not recorded in the books of account?

Posted by Sanskar Chhabra 5 days, 17 hours ago

CBSE > Class 12 > Accountancy

1 answers

Its Me Pandit 5 days, 14 hours ago

Accounting standard-26 or AS-26 prescribes that self generated goodwill is not accounted as an asset so it will not be recorded in book of account.

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L,M,N are partner in a firm shareing P&L in the ratio of 2:3:5 . On April 1st,2016 their fixed capital were 200000,300000,400000 respectively. IOC@9%per annum IOD @ 12% per annum Interest on partner laon@12% per annum On July 1,2016,L brought 100000 as additional capital and N withdraw rs100000 from his capital. During the year L,M,N withdraw rs 12000 ,18000, 24000 respectively for their personal use . On jan. 1 ,2017 the firm obtain a laon of rs150000 from M

Posted by Ayushi Tyagi 5 days, 22 hours ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Identify various matters that need adjustments at the time of admission of a new partner ?

Posted by Keerthi G M 5 days, 23 hours ago

CBSE > Class 12 > Accountancy

1 answers

Himanshu Jha 5 days, 20 hours ago

Profit sharing ratio and goodwill treatment ,

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Assets....??

Posted by Rahul Saxena 6 days, 4 hours ago

CBSE > Class 12 > Accountancy

2 answers

Lovely Dhawan 4 days, 19 hours ago

Anything which is in the possession or property of the business is called an asset

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Sia 🤖 6 days, 4 hours ago

An asset is any resource owned by the business.

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Kiya and leela are partners sharing profit in the ratio of 3:2. Kiran was admitted new partner with 1\5th share in the profit and brought in Rs 24000 as her share of goodwill premium that was credited to the capital accounts of kiya and leela respectively with Rs 1800 and Rs 6000. Calculate the new profit sharing ratio of kiya, leela and kiran

Posted by Amatulla Haidery 6 days, 5 hours ago

CBSE > Class 12 > Accountancy

1 answers

Ritesh Kumar 5 days, 23 hours ago

1-1/5=4/5 new share of kiya=4/5*3/5=12/25 new share of leela=4/5*2/5=8/25 new share of kiran=1/5=5/25 new profit sharing ratio =12/25:8/25:5/25=12:8:5

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Hidden goodwill

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