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[11/3, 7:41 PM] Gaurav Sir: *CA. (Dr.) G. S. GREWAL* *Objective Type Question / MCQs* *Question Series 5* Admission of a Partner *True/False * 1. The claim of Workmen Compensation is less than Workmen Compensation Reserve at the time of admission of a partner. The difference is Workmen Compensation Reserve and claim will be transferred to Capital Accounts of the old partners in their old profit sharing ratio. *Fill in the Blank * 2. If book value and the market value of investment is same, Investment Fluctuation Reserve at the time of Admission of a Partner, is distributed among _______________ in their _____________________. *Multiple Choice Question* 3. A, B and C are partners sharing profits and losses in the ratio 6 : 3 : 3, they agreed to take D, as new partner with 1/8th Share of profits. The new profit sharing ratio will be: (a) 14 : 7 : 7 : 4 (b) 1 : 1 : 1 : 1 (c) 12 : 27 : 36 : 42 (d) 12 : 36 : 27 : 42. [11/3, 7:41 PM] Gaurav Sir: *CA. (Dr.) G. S. GREWAL* *Objective Type Question / MCQs* Valuation of Goodwill *Question Series 6* *True/False* 1. Two factors affecting goodwill are efficient management, repeated customers leading to higher sales and profit thus; it leads to higher value of goodwill. *Fill in the Blank* 2. A firm earns profit of Rs. 1,10,000. The Normal Rate of Return is 10% on Capital. Assets of the firm are Rs. 11,00,000 and Liabilities Rs. 1,00,000. Value of Goodwill by Capitalisation of Average Profit will be _____________________. *Multiple Choice Question* 3. In the event of firm’s business being taken over, the amount paid in excess of net assets (Assets – Liabilities) is debited to (a) Profit and Loss Account (b) Capital Accounts (c) Reserve Account (d) Goodwill Account.

Posted by Anshul Koundal 6 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

[11/3, 7:41 PM] Gaurav Sir: *CA. (Dr.) G. S. GREWAL* *Objective Type Question / MCQs* *Question Series 3* *Fill in the Blank* 1. Goodwill is valued with a purpose to compensate ________________ partner(s) by the ________________ partners. *True / False* 2. Large Customer base results in higher valuation of Goodwill. *Multiple Choice Question* 3. Which of the following statement is Correct? (a) Goodwill is a fictitious asset. (b) Goodwill is a current asset. (c) Goodwill is a wasting asset. (d) Goodwill is an intangible asset. [11/3, 7:41 PM] Gaurav Sir: *CA. (Dr.) G. S. GREWAL* *Objective Type Question / MCQs* *Question Series 4* Fundamentals *Fill in the Blanks: -* 1. Partners may or may not have written ____________________. *True / False* 2. Partnership is the relation between persons who have agreed to share profits of a business carried on by all or any of them acting for all. *Multiple Choice Question* 3. In case partners have guaranteed profit to a partner and deficiency of profit. The deficiency happens it is borne by (a) All the partners in new profit sharing ratio (b) Remaining partners in the ratio in which they have given guarantee (c) All the partners in sacrificing ratio. (d) All the partners in old profit sharing ratio.

Posted by Anshul Koundal 6 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

*CA. (Dr.) G. S. GREWAL* *Objective Type Question / MCQs* *Question Series 2* *Fill in the Blanks* 1. The ratio in which one or more partners of the firm forego i.e., sacrifice their share of profits in favour of one or more partners of the firm is called ___________________. *True / False* 2. Sudhir and Bhuwan are partners in a firm sharing profits in the ratio of 3:2. They decided to share future profit equally. On the date of change in profit sharing ratio, Profit and Loss Account has a debit balance of Rs. 50,000. It will be adjusted in Partners Capital Accounts by passing the following Journal Entry: Sudhir’s Capital A/c …Dr. 30,000 Bhuwan’s Capital A/c …Dr. 20,000 To Profit and Loss A/c 50,000. *Multiple Choice Questions* 3. Gaining Ratio is calculated by deducting (a) Sacrificed profit share from new profit share of the partner. (b) Sacrificed profit share from old profit share of the partner. (c) New profit share from old profit share of the partner. (d) Old profit share from new profit share of the partner.

Posted by Anshul Koundal 6 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Issued 20000shares received 50000shares rejucted 20000shares and remaining pro-rata app.2,all.5(including premium 2),first call3,final call3. 1500shares failed to pay allotment money first and final call his shares forfeited 500 shares failed to pay final call

Posted by Legend Vishnu 6 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Does partnership firm has a separate legal entity? Give reason in support of your answer.

Posted by Stanzin Olden 6 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

David ltd. issued ₹4000000equity sharesof ₹10 each out of its registered capital of 100000000. The amountpayable on these shares was as follows: On application ₹1 per share On allotment ₹2 per share On first call ₹ 3per share On second and final call ₹4 per share All calls were made and were duly received , except the second and final call on 1000 shares held by Vipul. These shares were forfeited. Present the 'shares capital' in the Balance sheet if the company as per Schedule III Part I of the Companies act 2013. Also prepare 'Notes th accounts'.

Posted by Anusree Mukherjee 6 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Mayank Garg 6 years, 1 month ago

39,90,000 (3,99,000 shares of ₹10 each) Add: Forefeiture Share Balance (1000 shares @₹6) = ₹6,000 Share Capital= ₹39,96,000

ANSWER

Treatment of proposed dividend in CFS

Posted by Aaryan Dalal 6 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Mayank Garg 6 years, 1 month ago

Ignore Current year's proposed dividend. Both adjustments are made on previous year's dividend. Add in Net proft and payment in Financing Activities

ANSWER

Is thrre topic private placement shres

Posted by Kunal Gupta 6 years, 1 month ago

CBSE > Class 12 > Accountancy

3 answers

Kunal Gupta 6 years, 1 month ago

Ok thanks

Aaditya Sharma 6 years, 1 month ago

No

Kunal Gupta 6 years, 1 month ago

Plz send the anwer

ANSWER

What do u mean by reconstitution of the firm

Posted by Kunal Gupta 6 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

x.ltd forfiture 200 shares of ₹ 100 each. ₹ 70called up on which the shere holder had paid application snd allotment money of ₹ 50 per share.out of thse share 150 share were re issiued to naresh as ₹ 70 paid up for ₹ 80 per share

Posted by Syed Zaid 6 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Harsh Chaudhary 6 years, 1 month ago

Reissue entry:- 150×70 Bank a/c Dr 10500 150×10 share forfeature a/c Dr 1500 150×80 share capital 12000

ANSWER

Is examiner is coming our school to see project ya phir we have to go other place to show project

Posted by Abhijeet Jadon 6 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Syed Zaid 6 years, 1 month ago

Yes examiner will come at your school for checking your project

ANSWER

Exam ka time table kab aayega

Posted by Abhijeet Jadon 6 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Syed Zaid 6 years, 1 month ago

I think February

ANSWER

Narain Laxmi ltd. invited applications

Posted by Nisha Sharma 6 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Vishal Singh 6 years, 1 month ago

Hlo

ANSWER

Prepare balance sheet of the company as per schedule 3,part1 of the companies act 2013

Posted by Atul Chauhan 6 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Chirag Chirag 6 years, 1 month ago

Are you maad

ANSWER

I need multiple choice questions paper for accountancy

Posted by Aysha Banu 6 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Syed Zaid 6 years, 1 month ago

Ok i I have a pdf Tell me your wahats app number then i will send you

ANSWER

I need accountancy ncert solutions of chapter 1 accounting for non profit organisation

Posted by Mehak Kaur 6 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

How to calculate number of shares when forfeited share reissue for 29000 fully paid

Posted by Shivani Melka 6 years, 1 month ago

CBSE > Class 12 > Accountancy

2 answers

Harsh Chaudhary 6 years, 1 month ago

Can you plz send the question..( Ease in explaining )

Akshat Tripathi 6 years, 1 month ago

Isnt it hard to explain it here....wld have been easy on insta

ANSWER

3 months left ha exam ab tak kuch nhi padhi to aab kasa padhi kara

Posted by Aaid Jainism 6 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Agr ques me partner ki retirement ki date ni di h to Loan A/c me kon si date mention krenge ?

Posted by Sweksha Singh 6 years, 1 month ago

CBSE > Class 12 > Accountancy

3 answers

Mayank Garg 6 years, 1 month ago

Jis date ko Balance sheet bani h usi din kar denge neeche ek note daalkar ki ye assume kiya gya h

Sweksha Singh 6 years, 1 month ago

Ques no. 50 of retirement of a partner , page no. 4.131 in book (previous year).

Ilma Khan 6 years, 1 month ago

reitremnt ki date mention hoti h hmesha

ANSWER

Chapter 5 cash flow question no 51 fixed assets account mein balancing figure agar credit side aa rha hai toh usko kya maanenge ?

Posted by Satyam Tiwari 6 years, 1 month ago

CBSE > Class 12 > Accountancy

2 answers

Mayank Garg 6 years, 1 month ago

'Sale' maanenge

Ilma Khan 6 years, 1 month ago

depreciation or profit

ANSWER

Pro data question

Posted by Manu Jadon 6 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Ilma Khan 6 years, 1 month ago

zyada walo ko km shares dena is pro rata

ANSWER

Best sample paper for accountancy

Posted by Shrein Tabassum 6 years, 1 month ago

CBSE > Class 12 > Accountancy

3 answers

Sakshi Sharma ??️??️??️ 6 years, 1 month ago

EAD???

Sakshi Sharma ??️??️??️ 6 years, 1 month ago

T.s.grewal- An aids to accountancy

Rishabh Saraf 6 years, 1 month ago

EAD

ANSWER

Chapter 5 admition of a partner question no. 76

Posted by Samar Gagneja Panjabi Boy Samar 6 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Samar Gagneja Panjabi Boy Samar 6 years, 1 month ago

From Ts grewal

ANSWER

on 1st June 2017 and energy limited issue 10000 7% of debentures of hundred rupees each other discount of 10% redeemable at premium of 10% at the end of 5 years all the debentures was subscribed and allotment was made prepare the balance sheet as a 31st march 2018

Posted by Jyoti Devpura 6 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Y Ltd. made pro rata allotment of shares of Rs. 10 each in the ratio of 3:2. Gopi failed to pay both the calls.2/3 of his forfeited shares were reissued for Rs. 2200 with discount of Rs. 1200 as fully paid up for how many share Gopi must have applied.

Posted by Atul Dubey 6 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Mayank Garg 6 years, 1 month ago

765 Shares were applied. Reason: First of all pass its journal whic is as follow Bank a/c. Dr 2,200 Share forefeiture a/c. Dr. 1,200 To Share Capital a/c. 3,400 ₹3,400 must be the Face Value of Reissued share and each share is of ₹10. That means number of shares is ₹3,400/₹10 = 340 Shares Now 340 shares are 2/3 of total shares. Which means total number of shares = (340×3)/2= 510 Shares Ratio of Applied and Alloted Shares is 3:2 Applications. Allotment 3. ->. 2 x. ->. 510 Applied Shares = (510/2)*3 = 765 Shares.

ANSWER

scanner solutions of chapter 2

Posted by Niya Sharma 6 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Vishal Singh 6 years, 1 month ago

What question

ANSWER

7. Hari, Ravi and Kavi were partners in a firm sharing profits in the ratio of 3 : 2 : 1. They admitted Guru as a new partner for l/7th share in the profits. The new profit sharing ratio will be 2 : 2 : 2 : 1 respectively. Guru brought Rs. 3,00,000 for his capital and Rs.45,000 for his l/7th share of goodwill. Showing your working clearly, pass necessary journal entries in the books of the firm for the above mentioned transaction

Posted by Abhimanyu Saini 6 years, 1 month ago

CBSE > Class 12 > Accountancy

3 answers

Anand Taparia 6 years, 1 month ago

Cash A/C DR 345000 To guru capital A/C 300000 To premium for Goodwill A/C 45000 Premium for goodwill A/C Dr 45000 To kavi capital A/C 37500 To Hari capital A/C 67500

Amit Mehta 6 years, 1 month ago

Case A/c DR 345000 To Guru capital A/c 300000 To premium of goodwill A/c 45000 premium of goodwill A/c Dr 45000 Kavi A/c Dr 37500 To hari capital A/C 67500

Amit Mehta 6 years, 1 month ago

Case A/c DR 345000 To Guru capital A/c 300000 To premium of goodwill A/c 45000 premium of goodwill A/c Dr 45000 Kavi A/c 31 5000×5/42. Dr 37500 To hari capital A/C 315000×9/42 67500 To Ravi capital A/c. 15000 WK Hari = 2/6 -2/7 = 9/42 Ravi = 2/6-2/7 = 2/42 Kavi = 1/6-2/7= -5/42

ANSWER

projecт worĸ

Posted by Jassu Negi Pangta 6 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

what is the difference between profit and loss appropriation A\c and profit and loss suspense A\c?

Posted by Tanisha Singh 6 years, 1 month ago

CBSE > Class 12 > Accountancy

2 answers

Tanisha Singh 6 years, 1 month ago

thnx harshita

Harshita Jangid 6 years, 1 month ago

P&L app. a/c is make to distribute the profits among all the partners but P&L suspense a/c is made to give the profit ony to the dead partner

ANSWER

A and b share profit in the ratio of 3:2following

Posted by Aniket Kumar 6 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

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