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G,H,R were partners in a firm sharing profit in the ratio of 7:4:9. Their fixed capital were G RS 2,00,000 , H rs 75,000 , R rs 3,50,000. Their partnership deed provide for the following.

Posted by Prashant Prashant 2 years, 3 months ago

CBSE > Class 12 > Accountancy

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The profit of a firm for the year under 31st March for last for years work 2014 equal to rupees 100000 2015 rupees 100000 and 2017 rupees 150000 calculate the value of goodwill of the form on the basis of 3 years of average profit additional information first a major plants under taken on first September 2016 for rupees 30000 which was charged to revenue the sad song for the goodwill calculation to subject of depreciation of 10% on the reducing balance method second closing stock for the year 2015 was over valued by RS 12000 3rd to covered management course and annual charge of rupees 24000 should be made for the purpose of valuation of goodwill

Posted by Balwinder Singh 2 years, 3 months ago

CBSE > Class 12 > Accountancy

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D and e were partner

Posted by Vidhi Lodhi 2 years, 3 months ago

CBSE > Class 12 > Accountancy

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ANSWER

Pankaj and Naresh were partner in a firm sharing profit in the ratio of 3:2 their fixed capital were 500000 and 300000 respectively on 1st January 2017 Saurav was admitted as a new partner for 1/5 share in the profits saurabh acquired hs share of profit from pankaj saurabh brought 300000 as his which was to be kept fixed like the capital of Pankaj and Naresh calculate the Goodwill of the firm on saurabh 's admission and the new profit sharing ratio of pankaj naresh and saurabh also pass necessary journal entry for the treatment of goodwill

Posted by Ankit Kumar Yadav 2 years, 3 months ago

CBSE > Class 12 > Accountancy

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ANSWER

A and B are partners sharing profit ratio of 5 is 3 C is admitted to the partnership for one fourth share of a future profit calculate a new P profit sharing ratio

Posted by Surabhi Dubey7250 2 years, 3 months ago

CBSE > Class 12 > Accountancy

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ANSWER

B and c are partners in the firm , Sharing profit and loss in the ratio of 5:3

Posted by Simran Saini 2 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Difference between change in profit vs appropriation in profit

Posted by Astha Mishra 2 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Comprehensive problem with gst

Posted by Dev Singh 2 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Newbie ltd.was registered with an authorized capital of 5,00,000 divided into 50,000 equity shares of rupee 10 each. Since the economy was in robust shape the company decided to offer to the public for subscription 30,000 equity shares of rupee 10 each at a premium of rupee 20 per share applications for 28,000 shares were received and allotments was made to all applicants all calls were made and duly received except the final call of rupee 2 per share on 200 shares show the share capital in the balance sheet of newbie Ltd. As per schedule 3 of the companies act 2013 also prepare note to account for the same

Posted by Ananya Pandey 2 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Ram, Mohan and Sohan were partners sharing profits in the ratio of 2: 1: 1. Ram withdrew 3,000 every month and Mohan withdrew Rs 4,000 every month. Interest on drawings @ 6% p.a. was charged, whereas the partnership deed was silent about interest on drawings. Showing your working clearly, pass the necessary adjustment entry to rectify the error.

Posted by Arpit Mishra Arpit Mishra 2 years, 3 months ago

CBSE > Class 12 > Accountancy

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ANSWER

On 31st March, 2015, the Balance Sheet of Ujwal, Vani and Wasiq who were sharing profits in proportion to this capitals stood as follows: Ujwal retires on 1st April, 2015 and it was agreed that: (a) Land and building be appreciated by 30% and Machinery be depreciated to Rs 2,40,000. (b) There were bad debts of Rs 17,000 (c) The claim on account of workmen’s compensations was estimated at Rs 8,000 (d) Goodwill of the firm was valued at Rs 1,40,000. (e) Wasiq and Vani decided to share future profits in the ratio of 3:4. (f) Capital of the new firm will be the same as before Ujwal’s retirement and will be in the new profit sharing ratio of the continuing partners. (g) Amount due to Ujwal be settled by paying Rs 1,50,000 in cash and the balance by transferring to his loan account. Prepare Revaluation Account, Partners’ Capital Accounts and the Balance Sheet of the new firm.

Posted by Nidhi Sharma 2 years, 3 months ago

CBSE > Class 12 > Accountancy

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ANSWER

E, F and G were partners in a firm sharing profits in the ratio of 3 : 3 : 4. Their respective fixed capitals were E ₹ 3,00,000; F ₹ 4,00,000 and G ₹ 5,00,000. The partnership deed provided for allowing interest on capital @ 2% p.a. even if it results into a loss to the firm. The net profit of the firm for the year ended 31st March, 2018 was₹2,10,000. Pass necessary journal entries for allowing interest on capital and distribution of profit/loss in the books of the firm. (All India 2019) 7

Posted by Nisha Pal 2 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

VK Limited forfeited 200 shares of Rs.10 each issued at a premium of Rs.2 per share for the non-payment of allotment of Rs.3 per share (including premium). The first and final call of Rs.4 per share has not been made yet. 50% of forfeited shares were reissued at Rs.8 per share fully paid up. Give journal entries.

Posted by Anshika Rawal 2 years, 3 months ago

CBSE > Class 12 > Accountancy

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ANSWER

Sunaina and Tamanna ques 73 class 12 ch 4 page 4.115 ts grewal

Posted by Mahi Thakur 2 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Comprehensive sole proprietorship firm project

Posted by Bushra Idreesi 2 years, 3 months ago

CBSE > Class 12 > Accountancy

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ANSWER

PROJECT 1 Given below is the trial balance of M/s. Sameer and Reena on 31st Dec. 1988 They divide profits and losses as 3.2 respectively From the tollowing trial balance you are required to prepare Trading and Profit and loss account for the year ended 31st December 1988 and the Balance Sheet as on that date. Trial balance as on 31st December 1958 Trial balance as on 31 December 1985 Particulars Particulars Debit Rs. Credit Rs. Stock (1:1-88) 60,000 1,01,250 Purchates 1,20,000 Purchases Returns 1,000 Sales Returna 1,500 Capital account Sameer 80,000 Drawings Sameer 9,000 Capital account Reena 60,000 Drawings Reena 7,000 Current Ale Reena 2,000 Current Alc Sameer 3,000 Bank Overdraft 4% p.a 17,000 Sundry Expenses 1,750 Discount Received 600 Wages 15,000 Dividend Received 2,400 Salaries 16,400 Sundry Creditors 10,000 Travelling Expenses 1,600 Bils Payable 25,000 Advertisement 6,000 Outstanding Wages 2,000 Rent, Rates and Taxes 12,500 Loan from Dena bank 12% Bad Debts 13,000 Discount 1,400 Commission 1,500 Buildings 1,60,000 Machinery 1,20,000 Furniture 75,000 Sundry Debtors 30,000

Posted by Re In 2 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Sunbeam Ltd. Issued 20000, 11% debentures of 100 each at a premium of 10%, redeemable at a premium of 5%. The 'loss of issue of debentures account will debited by

Posted by Imam Haider 1 year, 8 months ago

CBSE > Class 12 > Accountancy

2 answers

Angel Pradhan 1 year, 8 months ago

200000

5Thank You

Imam Haider 2 years, 3 months ago

A. 300000 B. 200000 C. 100000 D. 2200000

39Thank You

ANSWER

X, Y and Z are partners in topper sharing profit in 3:2:3 on Jan 1 2019 they decided to share profit in equal ratio on that date there was a credit balance rupees 60000 in their general reserve account and a balance of rupees 24000 in advertisement suspense account partners want to distribute the balances. pass journal entry

Posted by Vineet Sharma 2 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Ch 6 death of a partner ka question no 8 p,q,r were partner ka ......... Please bata dijiye

Posted by Rozy Rozy 2 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Amara madhura and Prema are partners sharing profits and losses in the ratio of 2:1:1

Posted by Rebecca B 2 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Rozy Rozy 2 years, 3 months ago

Aap puch kya rahe ho

2Thank You

ANSWER

A and B are partners in the firm sharing profits and losses in the ratio of 3:2. A surrenders 1/5th of his share, whereas B surrenders 2/5th of his share in favour of C,

Posted by Adarsh Sharma 2 years ago

CBSE > Class 12 > Accountancy

1 answers

Mingma Sherpa 2 years, 3 months ago

3/25 4/25

0Thank You

ANSWER

A and B are partners in the firm sharing profits and losses in the ratio of 5:3. A surrenders 1/20th of his share, whereas B surrenders 1/24th of his share in favour of C, a new partner. Find a new profit sharing ratio

Posted by Archana Kumari Singh 2 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Meera Kumari 2 years, 1 month ago

A:B 5:3* old ratio 1/20:1/24surrender value 5/20:3/24sac. Value 5/8-5/20:3/8-3/24old - sac. 15/40:9/40 new ratio.

1Thank You

ANSWER

Arti and bharti are partners in a firm sharing profits in the ratio of 3:2. The following trial balance was extracted from their books as at 31st mar 2019

Posted by Nilesh Kumar 2 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Ncert solved questions

Posted by Prince Kangra 2 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Rakesh had returned from the firm.

Posted by Gayathri Devi 2 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Gayathri Devi 2 years, 4 months ago

Bnchc

0Thank You

ANSWER

Assignment on partnership deed

Posted by Kumkum Joshi 2 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Amir and basir partner sharing profit in the ratio of 3 ratio 2 from 1st January 218 the admit Sameer into partnership giving him 1 upon 5th share of profit with a guarantee of rupees 16000 minimum Amir and basir as between themselves continued to share profit as before profit of the firm for 280 was 40000

Posted by Soumya Sengar 2 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Fastrack Ltd. invited application for issuing 50,000 shares of Rs. 100 each at a premium of Rs. 10 per share payable as follows: Rs. 50 per share on Application. Rs. 35 per share on Allotment and Balance on First and Final Call. Applications for 82,500 shares were received. Applications for 20,000 shares were rejected and allotment was made on pro rata basis to the remaining applicants. Sahil who had applied for 1,250 shares failed to pay the amount due on allotment and call. The company forfeited his shares. Later on, out of the forfeited shares company reissued 500 shares at Rs. 95 par share as fully paid up. Journalize the transactions in the books of Fastrack Ltd.

Posted by Aalia Qureshi 2 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Aruna and parul school time friends comprehensive questions

Posted by Vivek Kumar Deo 2 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Can you please send me the equation of avg profit method

Posted by Subi Suresh 2 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

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