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x,y,z are partners in a firm .y retires and his claim included his capital and his share of goodwill is ₹120,000. He is paid in cash and partly in kind .A vehicle valued at rs 60,000 unrecorded in the books of the firm and the balance in cash is given to him to settle his account give the journal entries

Posted by Raj Gupta 34 minutes ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

What is the Nature of Premium for Goodwill?

Posted by Shradha Malpani 13 hours ago

CBSE > Class 12 > Accountancy

1 answers

Yogita Ingle 12 hours ago

Goodwill is an intangible asset that arises when one company purchases another for a premium value. The value of a company’s brand name, solid customer base, good customer relations, good employee relations ,and any patents or proprietary technology represent goodwill.
The nature of Premium for Goodwill A/c is Liability. It represents the liability of the firm towards the sacrificing partners.

ANSWER

Paper will be hard or tough

Posted by Sandeep Sharma 14 hours ago

CBSE > Class 12 > Accountancy

2 answers

Tikshika Kumari 9 hours ago

Can't paper will be easy or tough. But if u prepare well then paper will going to easy for u otherwise it will be tough.

Lunatic .. 11 hours ago

From book related to sample paper

ANSWER

When tds collected account is debited and when tds payable account is debited?

Posted by Singh Rajput 16 hours ago

CBSE > Class 12 > Accountancy

1 answers

Aapt Jain 16 hours ago

When we will received interest from any investment then at that time we will debit tds and when we have to give interest to third party then we tds will credited

ANSWER

receipts & payment account is pprepared on ______basis while income and expenditure account is prepared on ____ basis of accounting

Posted by Anamika Jha 17 hours ago

CBSE > Class 12 > Accountancy

1 answers

Lunatic .. 11 hours ago

Receipt and payment= cash basis Income expenditure = accrual basis

ANSWER

Is partners are given salary when there is admission of new partner , but the new partner bring proportionate capital

Posted by Aman Talreja 18 hours ago

CBSE > Class 12 > Accountancy

1 answers

Yash Yadav 9 hours ago

Yes partner will entitled salary even after admission of a partner

ANSWER

arjun bhim and nakul are partners in a partnership firm they admit abhimanyu a minor what will be the liability of abhimanyu as a partner

Posted by Virendra Patel 18 hours ago

CBSE > Class 12 > Accountancy

1 answers

tush****@***** 9 hours ago

Minor partners gets share in a profit not loss so, minor partner will not be liable for liability

ANSWER

How to get full marks in partnership questions ?

Posted by Saumya Singh 20 hours ago

CBSE > Class 12 > Accountancy

3 answers

Yash Yadav 9 hours ago

To get a full marks in accoutancy the following steps must be taken - (i) Do a sample paper daily , with proper format within 3 hrs , without any break (ii) Clear your concepts , concepts are basis for taking full marks (iii) Clear your all doubt (iv) believe in your own

Lunatic .. 11 hours ago

By practicing still i didnt get so get confidence

Hemant Singhal 20 hours ago

1. Learn the concepts 2. Learn how to make revaluation ac 3. Prepare partners capital ac and try to remain all the adjustment in your mind and adjust them 4. Distibute all reserves 5. Adjust goodwill 6.learn capital adjustment because it is most expected 7. At last prepare balance sheet and dont forget the adjustments.

ANSWER

How to get full marks in partnership questions?

Posted by Saumya Singh 20 hours ago

CBSE > Class 12 > Accountancy

1 answers

Tikshika Kumari 9 hours ago

By practice and by solving more and more questions as u can.

ANSWER

Provision for doubtful debts will be made at 5% on debtors and provision for legal claims will be made 60000

Posted by Amanullah Khan 21 hours ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

His share of profit upto his date of death (30th September, 2019) on the basis of sales till date of death. Sales for the year ended March 31st 2019 was 200000 and profit for the same year was 10% on sales. Sales shows a growth trend of 20% and percentage of profit earning is reduced by 1%.

Posted by Manisha And Ritika And Pratap Mehra 1 day, 1 hour ago

CBSE > Class 12 > Accountancy

2 answers

Aman Talreja 18 hours ago

Its the question of sample paper 2020

Hemant Singhal 20 hours ago

200000+40000(growth of 20%)×9/100×6/12×share of profit=10800×share of profit

ANSWER

Furniture was to be reduce to 90%? What is the treatment in revaluation acount

Posted by Ankit Kumar 1 day, 4 hours ago

CBSE > Class 12 > Accountancy

3 answers

tush****@***** 9 hours ago

Value (Furniture) ×100/90=amt dr. to reva. a/c

Hemant Singhal 20 hours ago

10% value of furniture is shown on the debit side of revaluation ac

Anuj Solanki 1 day, 2 hours ago

The furniture will put in the debit side of revaluation a/c

ANSWER

12th accounts board exam me paper ulta start krna chaiye kya????

Posted by Garima Sharma 1 day, 6 hours ago

CBSE > Class 12 > Accountancy

6 answers

Your Father 8 hours ago

start from analysis of financial statement ie book 3

Tikshika Kumari 9 hours ago

Yes.

Manisha And Ritika And Pratap Mehra 16 hours ago

Yes

Manoj Jaiswal 18 hours ago

Yes...

Anuj Solanki 1 day, 2 hours ago

No

Ankit Kumar 1 day, 4 hours ago

Yes

ANSWER

All important 5 of redemption of debenture

Posted by Pratham Soni 1 day, 12 hours ago

CBSE > Class 12 > Accountancy

2 answers

Midhun Mukesh 20 hours ago

1. On Par - At Par 2. On Par - At Premium 3. On Premium - At Premium 4. On Premium - At Par 5. On Discount - At Premium 6. On Discount - At Par * like Par or like premium , Discount cannot be redeemed .

Midhun Mukesh 20 hours ago

Issue - Redemption ___________________ At Par - At Par At premium - At Par At Discount - At Par At Premium - At Premium At Discount - At Premium

ANSWER

Priyanka paid the realisation expense of 15000 out of her pocket and she was to get a remuneration of 18000 for completing the dissolution process....pass journal entry

Posted by Shivani Tripathi 1 day, 12 hours ago

CBSE > Class 12 > Accountancy

2 answers

Manisha And Ritika And Pratap Mehra 16 hours ago

Rrealisation a\c. Dr. 18000 To priyanka capital a\c. 18000 Realisation a\c. Dr. 15000 To realisation expenses a\c. 15000

Rishab Kapoor 1 day, 11 hours ago

1 realisation a/c dr. 18000 To priyanka capital a/c 18000

ANSWER

Why partnership is not separate legal entity

Posted by Tarun Singh 1 day, 13 hours ago

CBSE > Class 12 > Accountancy

2 answers

Hemant Singhal 20 hours ago

Because partners are the real owners of the firm and they work as both agent and owner of the firm

Nancy ..... . 1 day, 9 hours ago

Because in Partnership , there is team work and no individual is an owner of a firm.

ANSWER

rajesh ltd invited applications for 100000 equity shares of 10 each issued at 20% of premium per share.. the amount was payable as follow.. application rs 4. on allotment 5 including premium.. on first call 3 per share applicationsfor 230000 shares were received.. application 20000 allotment nil.application 150000allotment 50000.application 60000 allotment 50000..excess application money to be adjusted against allotmemt amd remaining excess money if any to be refunded.. rajan to whom 500 shares were alloted in the group applying for 150000 shares did not pay any amount after application. roshan who had applied for 1200 shares from the group applying 60000 shares failed to pay the first call. all shares on which payment were overdue were forfeited after the first call was made .50% of the forfeited shares were reissued at 9 per share fully paid ..pass journal entries

Posted by Priyanka Kataria 1 day, 14 hours ago

CBSE > Class 12 > Accountancy

2 answers

Punya Punya 1 day, 8 hours ago

Question is wrong

Punya Punya 1 day, 8 hours ago

Pta ni

ANSWER

Apart from location and profitability ,list any two other factors affecting goodwill of a firm

Posted by Harshit Prajapati 1 day, 14 hours ago

CBSE > Class 12 > Accountancy

1 answers

Harshita Janid 1 day, 12 hours ago

1. nature of business 2. location 3. efficiency of management 4.market situation 5. special advantages These are the factors affecting goodwill

ANSWER

List any two operating activities which result in no flow of cash and cash equivalent

Posted by Kajal Garg 1 day, 16 hours ago

CBSE > Class 12 > Accountancy

1 answers

Muskan Arora 1 day, 8 hours ago

Good will written off & depreciation

ANSWER

What is meaning of accounts

Posted by Surender Paswan 1 day, 17 hours ago

CBSE > Class 12 > Accountancy

2 answers

Lunatic .. 1 day, 10 hours ago

Written statement of transactions

Siddhi Gupta 1 day, 13 hours ago

Accounts is an art of identifing recording summurazing and analyzing the iterprution of data

ANSWER

provision for employees benefit is short term or long term provision?

Posted by Singh Rajput 1 day, 20 hours ago

CBSE > Class 12 > Accountancy

3 answers

Lunatic .. 1 day, 10 hours ago

Long term

Siddhi Gupta 1 day, 13 hours ago

Short term

Iashant Singh 1 day, 17 hours ago

Short term

ANSWER

Ybu

Posted by Keshav Aggarwal 1 day, 20 hours ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

What is npo?

Posted by Tanya Gupta 1 day, 22 hours ago

CBSE > Class 12 > Accountancy

2 answers

Siddhi Gupta 1 day, 13 hours ago

Those organisation which are formed not for profit motive but for social services

Singh Rajput 1 day, 20 hours ago

Not for profit organisation are set up with the objective to further cultural, educational, health, religious, public services to public or its members.

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 Akash Choudhary 1 day, 22 hours ago

CBSE > Class 12 > Accountancy

1 answers

Siddhi Gupta 1 day, 13 hours ago

Capital reserve 3400

ANSWER

A and B were partners in a firm shareing profit in the ratio of 3:2. C and d were admitted as a new partners.a sacrificed 1/4 ofhis share in favour of C and B sacrificed 50% of his share in favour of D. Calculate the new profit-sharing ratio of A,B,C,D

Posted by Deepanshu Sharma 2 days, 9 hours ago

CBSE > Class 12 > Accountancy

1 answers

Siddhi Gupta 1 day, 13 hours ago

9:8:3:4

ANSWER

wHAT is the maximum limit of debenture that can be redemed out of capital

Posted by Kulwant Singh 2 days, 12 hours ago

CBSE > Class 12 > Accountancy

5 answers

Siddhi Gupta 1 day, 13 hours ago

25

Vinayak Gupta 2 days, 9 hours ago

25

Deepanshu Sharma 2 days, 9 hours ago

25%

Yogesh Jaat 2 days, 10 hours ago

25 %

Singh Rajput 2 days, 12 hours ago

25%

ANSWER

Treatment of (provision for tax) is necessary to do according to (accounting standard 4) in cash flow statement

Posted by Sharma Sharma 2 days, 13 hours ago

CBSE > Class 12 > Accountancy

1 answers

Yogesh Jaat 2 days, 10 hours ago

Yes

ANSWER

What is use of cash flow statement

Posted by kira****@***** 2 days, 13 hours ago

CBSE > Class 12 > Accountancy

2 answers

Yogesh Jaat 2 days, 10 hours ago

To check the inflow & outflow of cash of the firm

Garvisha Jain 2 days, 10 hours ago

To check out inflow and outflow of cash

ANSWER

from which site can i download Sample papers and solutions of previous year

Posted by Singh Rajput 2 days, 13 hours ago

CBSE > Class 12 > Accountancy

1 answers

Tikshika Kumari 9 hours ago

Step1)cbse.nic.in; Step2)cbse website; Step3)student corner; Step4)study material; Step5)download p.y. ques papaers and m.s.

ANSWER

Anu,prisha,nipunare equal parthers.priya is admitted to the firm for one-fourth share priya brings 400000 capital and rs 70000 being one-third of her share of the premium for goodwill.calculate total goodwill of the firm

Posted by Simran Sandhu 2 days, 14 hours ago

CBSE > Class 12 > Accountancy

5 answers

Siddhi Gupta 1 day, 13 hours ago

210000

Yogesh Jaat 2 days, 10 hours ago

210000

Garvisha Jain 2 days, 10 hours ago

210000

Ankita Yadav 2 days, 13 hours ago

2,10,000

Deepak Pandey 2 days, 14 hours ago

210000

ANSWER

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