CBSE > Class 12 > Accountancy | CBSE Board | Homework Help

Step 1- calculation of Average profit Av profit= 500000+400000+600000 / 2 =1500000/2 =750000 Step 2- calculation of goodwill Gw= average profit × number of purchase year Gw=750000×4 =3000000

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Ashish and kanav were partners in a firm sharing profits and losses in the ratio 3: 2 . On 31st March, 2018 their balance sheet was as follows : Liabilities Trade creditors 42000 Employees providend fund 60000 Mrs.Ashish's loan 9000 Kanav's loan 35000 Workman's compensation fund 20000 In estment fluctuation reserve 4000 Capital: Ashish 120000 Kanav 80000 Assets: Bank 35000 Stock 24000 Debtors 19000 Furniture 40000 Plant 210000 Investments 32000 Profit and loss 10000 On the above date , they decided to dissolve the firm . (1)Ashish agreed to take over furniture at Rs.38000 and pay off Mrs.Ashish's loan. (2)Debtor's realised Rs.18500 and plant realised 10% more. (3)Kanav took over 40%of the stock at20%less than the book value. Remaining stock was sold at again of 10%. (4) Trade creditors took over investments in full settlement. (5)Kanav agreed to take over the responsibility of completing dissolution at an agreed remuneration of Rs.12000and to bear realisation expenses. Actual expense of realisation amunted to Rs.8000. Prepare realisation account.

Posted by Navdeep Singh 6 years ago

CBSE > Class 12 > Accountancy

2 answers

Muskan Rana 1 month, 2 weeks ago

I don't know

12Thank You

Harsh Verma 5 years, 4 months ago

3 point

25Thank You

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What is solvency ratio

Posted by Thakur Prashant Singh 6 years ago

CBSE > Class 12 > Accountancy

0 answers

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Comparative missing figure questions solution

Posted by Rukaiya Khan 6 years ago

CBSE > Class 12 > Accountancy

0 answers

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A,B and C are partners sharing profits in the ratio 5:3:2. A died and his executer is entitled to A's share of goodwill which is valued at ₹62000. The amount contributed by B and C on account of goodwill is:

Posted by Shresth Jindal 6 years ago

CBSE > Class 12 > Accountancy

1 answers

Alisha Wadhwa 6 years ago

B 37200 C 24800

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Solution of ead sample paper

Posted by Garima Goyal 6 years ago

CBSE > Class 12 > Accountancy

3 answers

Shresth Jindal 6 years ago

gowebrachnasagar.com Solution

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Shresth Jindal 6 years ago

“Capital Reserve” means the part of profit reserved by the company for a particular purpose such as to finance long-term projects or to write off capital expenses. ... Reserve Capital shows the part of the authorized capital that has not yet called up by the company and is available for drawing, if necessary.

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Karan Garg 6 years ago

Different between Capital reserve and reserve capital????

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Vinod, Shubh and Gaurav were partners sharing profits in the ratio of 1:1:1. Their fixed capitals were Rs.2,00,000 each. Manager of the firm will be paid 10% commission after charging such commission. Vinod has advanced Rs.1,00,000 to the firm as loan on 1 July, 2012. Partnership deed is silent on interest on loan to the partner. A guaranteed amount of Rs.30,000 will be paid to Gaurav whether there is profit or loss incurred by the firm. Profit on 31st December, 2012 was Rs.25,000. Show the distribution of profit or loss to the partners.

Posted by Surya Rameshkumar 2 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Manjot Kaur 1 year, 5 months ago

tti

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Dakesh had an ambition..

Posted by Deeksha Gupta Gupta 6 years ago

CBSE > Class 12 > Accountancy

0 answers

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Additional debenture amounted to 50000 were issued at par on 1st August 2011.

Posted by Shivani Tripathi 1 year, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

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What is finencial statement

Posted by Aditya Agrawal 6 years ago

CBSE > Class 12 > Accountancy

1 answers

Yogita Ingle 6 years ago

Financial statement is written reports of financial affairs of a company which reports and communicate the result of its business operations for a particular period of time and its financial position at the end of that period. The results of the business operation are revealed by the net profit it has earned during the period. The financial position of the company is determined by presenting the picture of its assets, liabilities and shareholders equity at the end of the period. Generally, therefore, the financial statements of the company include its trading and profit and loss account known as the income statement and balance sheet.

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What do you mean by employees stock option plan?

Posted by Lalita Anand 6 years ago

CBSE > Class 12 > Accountancy

1 answers

Yogita Ingle 6 years ago

Employee Stock Option Plan or ESOP is wherein company issues shares to its employees at a price that is lower than the market price. Employee gets an option to execute the offer with an objective of motivating employees to perform better and promote a sense of ownership.

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Which type of a/c is premium on redemption.??? Real, Personal or Nominal

Posted by Aditi Kumari 6 years ago

CBSE > Class 12 > Accountancy

2 answers

Alisha Wadhwa 6 years ago

,, premium on redemption of debenture is a personal account....

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Yogita Ingle 6 years ago

Premium on redemption of debentures A/C is in the nature of Nominal A/C .

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Can you provide me questions bank of this subject

Posted by Nishant Kumar 6 years ago

CBSE > Class 12 > Accountancy

0 answers

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How we can solve adjustment capital in retirement

Posted by M F S 6 years ago

CBSE > Class 12 > Accountancy

0 answers

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which type of relatio ,The relation of partner with the firm ?

Posted by Mansi Srivastava 6 years ago

CBSE > Class 12 > Accountancy

1 answers

Alisha Wadhwa 6 years ago

Principal-agent relationship.. partner embraces the character of both,the principal nd the agent.

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Atul and neera were partners in a firm sharing profits ratio in the rattio 3:2.they admitted mitalu as a new partner Goodwill of rhe firm was valueated at rs 200000 mitali brings her share of Goodwill premium of20000 in cash which is entirely credited to atuls capital account calculate the new profit sharing tatio

Posted by Raj Singh 6 years ago

CBSE > Class 12 > Accountancy

3 answers

Yash Garg 6 years ago

Sorry 5:4:1 is new psr 27:20:5 is wrong

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Yash Garg 6 years ago

27:20:5 is new psr

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Vishwajeet Jha 6 years ago

2:2:1 is the new psr

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How much marks of is accounts practical

Posted by Sagar Kumar Singh 6 years ago

CBSE > Class 12 > Accountancy

1 answers

Sunidhi Singh 6 years ago

20 marks

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cash flow of issue of Debentures required

Posted by Lovish Dawra 6 years ago

CBSE > Class 12 > Accountancy

1 answers

Chanchal Kaushik 6 years ago

Required mtlb Issue ho raha h financing m add redem ho raha h tho sub....

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What is the marking scheam...of all the chapter

Posted by Chanchal Kaushik 6 years ago

CBSE > Class 12 > Accountancy

2 answers

Chanchal Kaushik 6 years ago

I can't able to find it but....

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Maanvi ?‍♀? 6 years ago

You can check in this app in subject sections. In each section, Syllabus with marking scheme is given .

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The continuing partners have decided to adjust their capitals in their new profit sharing ratio after retirement of R. Surplus n deficit in their capital account. Retirement

Posted by Khushi Singh 6 years ago

CBSE > Class 12 > Accountancy

0 answers

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From the following information, calculate: (I) Revenue from operations (sales) (ii) Cost of revenue from operations (goods sold) Trade receivable turnover ratio: 4 times Average Trade Recievables: 180000 Gross profit ratio:33 1/3%

Posted by Anju Gupta 6 years ago

CBSE > Class 12 > Accountancy

0 answers

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If interest on capital is not given the profit will distributed in which ratio Equal or capital ratio??

Posted by Reet Wirring 6 years ago

CBSE > Class 12 > Accountancy

1 answers

Amrainder Singh 6 years ago

There is no link between ioc and profit sharing ratio. If ratio is not given profit is distributed equally

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Cost of revenue from operations

Posted by Dolly Pal 6 years ago

CBSE > Class 12 > Accountancy

3 answers

Nikunj Goel 6 years ago

Cost of rev. from op. = Rev from op. ( Net sales) - Gross profit

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Nikunj Goel 6 years ago

Cost of revenue from op. = Gross profit - Revenue from op.(Net sales)

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Pradeep Singh 6 years ago

Opening inventory(excuding stores and spares and loose tools)+ net purchase+direct expenses - closing inventory (excuding stores and spares and loose tools) or revenue from operation - gross profit

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Profit upto death .sale for year 2 lakhs and profit is 10 percentage on sales shown a growth trend of 20 percent. Profit earning is reducing by 1 percent . Share in profit is 5/10 . Plz tell the amt of profit and loss suspense

Posted by Harshita Lalwani 6 years ago

CBSE > Class 12 > Accountancy