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

vinod and kumar are partners sharing profits and losses in the ratio of 3:2 capital of vinod is 500000 and Kumar 300000 as per partnership deed partners are entitled for 12% interest on capital the profit for the year was 60000 show the distribution of profit

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Ttt

Posted by Kartik Kumar Sah 6 years ago

CBSE > Class 12 > Accountancy

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Calculate current ratio and quick ratio

Posted by Ramesh Ramesh 6 years ago

CBSE > Class 12 > Accountancy

1 answers

Hain Raizada 6 years ago

Current ratio=current assets\current liability Quick ratio=liquid ratio quick ratio\current liability

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If intermediate 12% was paid during the year

Posted by Anisha Gond 6 years ago

CBSE > Class 12 > Accountancy

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What are the two main rights acquired by a new partner?

Posted by Ansh Jasuja 6 years ago

CBSE > Class 12 > Accountancy

1 answers

Isha Kohli 6 years ago

Right to share of profit in future Right to share assest of the firm

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Radha and rekha are partners. Calculate interest on drawings for the year @12% per annum. Radha withdraws 5000 at the end of every quarter.

Posted by Ansh Jasuja 6 years ago

CBSE > Class 12 > Accountancy

1 answers

Ashishsingh Tanwar 6 years ago

As amount is withdrawn at the end of each quarter interest will be paid by the partner will ever only for 9 months. So, 5000×9/12×12/100=₹4500

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The combined capital of X and Y is 200000 and market rate of interest is 12%. Annual salary of partners is 5000 each. The profits for last 3 years were 32000,45000 and 55000. Goodwill is to be valued at 2 years purchase of last three years average super profit. Calculate the goodwill?

Posted by Ansh Jasuja 6 years ago

CBSE > Class 12 > Accountancy

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The balance sheet of a firm had an investment fluctuation reserve of 10000. A new partner is admitted, value of investment is 60000 against its book value of 70000. What amount of investment fluctuation reserve will be distributed among partners?

Posted by Ansh Jasuja 6 years ago

CBSE > Class 12 > Accountancy

2 answers

Ansh Jasuja 6 years ago

Partners ko to distribute hi nhi karenge

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Ashishsingh Tanwar 6 years ago

Full amount of ifr that is 10000 is to be distributed among the old partners in their old profit sharing ratio.

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In the absence of any provision in partnership deed, at what rate is working partner entitled for remuneration?

Posted by Ansh Jasuja 6 years ago

CBSE > Class 12 > Accountancy

1 answers

Ashishsingh Tanwar 6 years ago

No renumeration is to be provided in the absence of provision for the renumeration in the partnership deed according to the partnership act.

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S and T share profits in 3:2 ratio. The new ratio will be 2:3. They had rupees 45000 in general reserve and (Dr.) Balance in profit and loss A/c amounting rupees 15000. It was mutually agreed not to close the profit and loss and general reserve. Pass necessary journal entry.

Posted by Ansh Jasuja 6 years ago

CBSE > Class 12 > Accountancy

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Give one example of key result area (KRAs)

Posted by Hina Sharma 6 years ago

CBSE > Class 12 > Accountancy

1 answers

Ashishsingh Tanwar 6 years ago

KRA for realme is to increase the sale for the quarter 3.

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What is change in profit sharing ratio

Posted by Tanu Sharma 6 years ago

CBSE > Class 12 > Accountancy

1 answers

Samar Gagneja Panjabi Boy Samar 6 years ago

It means all partners want to change their profit sharing ratio Ex A B C are partners in a firm they shared profit equally . On 1st April they want to share profit in 2:2:1 . Here when profit sharing ratio will change then suppose the firm earn 5000 profit . Now the partner share this profit in 2:2:1 ratio not share equallly

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What is creditor's turnover ratio?

Posted by Subham Sarkar 6 years ago

CBSE > Class 12 > Accountancy

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Does sleeping partner does not participate in conduct of business

Posted by Abhinav Agarwal 6 years ago

CBSE > Class 12 > Accountancy

1 answers

Vishwajeet Jha 6 years ago

sleeping partner is a partner who sleeps that is he does not take active part in the management of the business such a partner only contributes to the share capital of the phone is bound by the activities of other partners and shares the profits and losses of the business.?

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A and B are partners sbaring profit 3:1.they admit C for 1/4 share of profit Liabilities rs Assets rs Emplyees stock 15K prvident fund 17K debtors 50K WCR 6K less:prov IFR 4100 for DD 2K Capitals: _______48k A 54K investment 7K B 35K cash 6100 Goodwill 40K The following adjustments were made: a)C brings rs16K as goodwill and proportinate capital. b)bad debts amounted to rs3K. c)market value of investment rs4500. d)liability on a/c of WCR is rs2K. Prepare revalutaion account and partner's capital account.

Posted by Tanya Sharma 6 years ago

CBSE > Class 12 > Accountancy

3 answers

Poonam Garg 6 years ago

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Vishwajeet Jha 6 years ago

If you wana ask about any entry You can

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Vishwajeet Jha 6 years ago

I solved the question but I don't know how can i show you

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what is the role of computerised accounting

Posted by Løve Gurung 6 years ago

CBSE > Class 12 > Accountancy

1 answers

Vishwajeet Jha 6 years ago

computerized accounting systems are important to business in various ways computerise helps business by making this stuff recent productive and also save their valuable time it helps to maintain business and all financial information for the business is well organised. ?

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What is meant by call in arrear and call in advance ? What is the rate of interest which can be allowed on call in advance and changed on call in arrears

Posted by Rahul Rahul 6 years ago

CBSE > Class 12 > Accountancy

2 answers

Satish Kamat 6 years ago

Thanks

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Kanishk Nair 6 years ago

Call in arrears means the money that are due on calls or allotment and not recieved ,call in advance means the money that is received in advance with allotment or 1 call money with allotment or 2 call money with 1 call

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Partner

Posted by Viraj Chauhan 6 years ago

CBSE > Class 12 > Accountancy