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

No products in the cart.

Ask questions which are clear, concise and easy to understand.

Ask Question

9. Amara, Madhura and Prema are partners sharing profits and losses in the ratio of 2:1:1. Their Balance Sheet as on 31.3.2018 was as follows: Balance sheet as on 31.3.2018 Liabilities t Assets Bills payable 4,300 5,700 Cash in hand 1,000 Creditors Bills Receivable Capitals: Stock 20,000 Amara 30,000 Debtors 7,000 400 Madhura 20,000 Less: PBD 6,600 4,000 Prema 20,000 Joint Life Policy Joint Life Policy Fund 4,000 Machinery 50,000 Prepaid Rent 2,000 84,000 84,000 The firm was liquidated on the above date: a) Amara took over Joint Life Policy for t5,000 b) Stock realised for t22,000, Debtors realised 74,100 and Machinery was sold for 158,000. c) Bills on hand realised in full. d) One bill for 1500 under discount was dishonoured and had to be paid by the firm Prepare Realisation Account Partners capital account Bank Account

Posted by Vishwanath B 1 year, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Stock was overvalued by 20000

Posted by Piyush Garg 1 year, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Gitisha Agarwal 1 year, 3 months ago

-20000

0Thank You

ANSWER

GH and our partner in a firm sharing ratio 7:4:9

Posted by Umesh Sahu 1 year, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Ghm our partner of foreign sharing ratio 7:4:9

Posted by Umesh Sahu 1 year, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

G h and r were

Posted by Umesh Sahu 1 year, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

X ltd. Forfeited 1000 share of 10 each (₹8called up ) for the non payment of the allotment money of ₹5 per share including ₹2 as premium.of these,800 share were re- issued to s at ₹7 per share as ₹8 called up . Journalise the above transaction in the book of xLtd

Posted by Sam Mondal 1 year, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Samyak Bhatia 1 year, 3 months ago

Capital reserve 5,000

0Thank You

ANSWER

Amara,madhura and Prema are partner is firm

Posted by Rukmini Rukmini 1 year, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Anant Kumar 1 year, 3 months ago

Follow me on insta aarv6090

0Thank You

ANSWER

A firm earned net profits during the last three years as: Year 2011-13 2013-14 2014-15 Profit(Rs) 36,000 40,000 44,000 The capital investment of the firm is Rs. 1,20,000. A fair retum on the capital having regard to the risk involved is 10%. Calculate the value of goodwill on the basis of three years purchase of the super profit for the last three years. [5

Posted by Rashpal Dhillon 1 year, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Samyak Bhatia 1 year, 3 months ago

84000

6Thank You

ANSWER

1. Radha and Raman are partners in a firm sharing profits and losses in the ratio of 5:2 Capital contributed by them is Rs. 50,000 and Rs. 20,000 respectively. Radha was given salary of Rs. 10,000 and Raman Rs. 7,000 per annum. Radha advanced loan of Rs. 20,000 to firm without any agreement to rate of interest in deed while in deed rate of interest on capital was mentioned as 6% pa. Profits for the year are Rs. 29,400, Prepare Profit and Loss Appropriation Account for the year ending 31st March 2015

Posted by Rashpal Dhillon 5 months ago

CBSE > Class 12 > Accountancy

2 answers

Samyak Bhatia 1 year, 3 months ago

Partner's ka profit 8000 and 3200 hona chahiye

1Thank You

Rashpal Dhillon 1 year, 3 months ago

28200

2Thank You

ANSWER

M, N, O are partners sharing ratio 1/2:1/3:1/6 . M retires and his share to be ascertain on Revaluation of assets. Stock 20000, 850 prov

Posted by Kashvi Khemka 1 year, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Preference share

Posted by Dhara Tilwani 1 year, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Retirement mai loan account kyu bnata hai

Posted by Mansi Srivastav 1 year, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

A comprehensive question for project including journal,ledger, trial balance, p/l acc, pie chart,bar diagram, including GST ...

Posted by Ashmita Piplani 1 year, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Shinra lmtd

Posted by Subhadarsini .. 1 year, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

myCBSEguide No products in the cart. Homework Help CBSE Class 12 Accountancy Rao & Reddy were partners in … CBSE, JEE, NEET, CUET Question Bank, Mock Tests, Exam Papers NCERT Solutions, Sample Papers, Notes, Videos Install Now Rao & Reddy were partners in a firm sharing profits in 3:1 ratio. Kitty was admitted as a new partner for 3/8th share. New profit ratio was decided to be 3:2:3. Kitty brought capital of Rs 2 lakhs and Rs 50,000 for share of goodwill. On 31.3.2017, the balance sheet was as follows: Creditors Bills Payable Capital A/c’s Rao 4,00,000 Reddy 1,00,000 60,000 20,000 5,00,000 Cash Debtors Stock Furniture Machinery 90,000 80,000 1,50,000 50,000 2,10,000 Total 5,80,000 Total 5,80,000 a. Stock was valued at Rs 2,00,000; Machinery to be depreciated by 12% & furniture by Rs 2,000. b. A provision of 5% doubtful debts was to be made on debtors. c. Rao was to withdraw Rs 2,64,100 from his capital while Reddy was to introduce Rs 28,633 more to his capital account. Prepare Revaluation a/c & Partner’s capital accounts

Posted by Yashwant Lalwani 1 year, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Harish is a partner in the firm. He withdrew the following amounts during the year 2019 Rs. May 2019. 4000 August 2019. 12000 September 2019. 4000 December 2019. 12000 March 2020. 4000 Interest on drawing is to be charged @ 7 1\2 Calculate the amount of interest to be charged on harish drawings for the year ending December 31,2020.

Posted by Bunty Soni 2 months, 1 week ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

A, B, C and D were partners in a firm sharing profits and losses equally. E was admitted as a new partner for 1/3 rd share in the profits of the firm which he acquires equally from C and D. On E's admission the goodwill of the firm was valued at 3,00,000. Calculate the new profit sharing ratio on B's

Posted by Sneha Thanoch 1 year, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Fand Qwere partners in a firm sharing pronts in the ratio of 3:2 On 31 March 2011 (6) their Balance Sheet was as follows Liabilities Creditors Workmen Compensation Fund Capitals Ps Capital Q's Capital Amount Assets 1,00,000 Goodwill 1.60,000 Land and Building Stock Debtors 1,60,000 1,40,000 Bank Amnet 1,60,000 1.60.000 1.20.000 810,000 40,000 5.60.000 3,60,000 On the above date the firm was dissolved. (1) Creditors agreed to take over Land and Building at a valuation of their full claim (1) Stock was taken over by Q at Rs 1,00,000 for cash (H) Bad debts proved Rs.10,000 (iv) Goodwill was found valueless (v) Workmen Compensation claim was Rs. 1,60,000 Prepare Necessary Accounts

Posted by Bhumika Kalita 1 year, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

While preparing a realisation account, in the revised syllabus, if the problem is silent with regard to realisation of assets, it is considered to be nil. Can u pl explain with a problem

Posted by Helen Amutha 1 year, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

How to calculate interest on drawings

Posted by Pratibha Bghale 1 year, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Chetan Jaat 1 year, 4 months ago

Gvgg

1Thank You

ANSWER

om ram shanti were partners balance sheet

Posted by Nidharna Rani 1 year, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

X Y and partners in The Conjuring and profit losses in the ratio of 3 ratio 2 ratio when they capitals were 900008000060000 respectively get retired on 1st April 2022 the good bill of the form was valued at 60000 profit on the valuation account was 18000 after all the judgement was paid is due with the amount what in the brought in by a and c inners and their capitals are interportion to the new caring ratio of 3 ratio 2 prepare part time capital account

Posted by Kartik Ramgarhia 1 year, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Q5. A, B and C were in a partnership sharing profits as 4:2:1 respectively. It was provided that in no case C’s share in profit should be less than Rs. 7500. The profits for the year 2014 amount to Rs. 31500. You are required to show the appropriation amongst partners.

Posted by Shubham Kanojia 1 year, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Comprehensive project with gst

Posted by Dilpreet Kaur Matta 1 year, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Satnam and qureshi after doing MBA

Posted by Ayan Jain 1 year, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

2. A firm had assets 1,00,000 including cash 10,000. The partners' capital was 70,000 and rest of the balance constituted the reserve. If normal rate of return is 10% and goodwill of the firm is valued at 27,000 at three years' purchase of super profit, find the average profit of the firm. Hint. Capital of firm is 1,00,000 (Assets less outside liabilities)]

Posted by Harshit Dubey 1 year, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Ayushi Singhvi 1 year, 4 months ago

100000

7Thank You

ANSWER

Ram, Shyam, Ghanshyam and Radheshyam are partners sharing profits and losses on the ratio of 4:3:3:2. Their respective fixed capitals on 31st March, 2016 were Rs. 1,20,000. 1,80,000,2,40,000 and Rs. 1,80,000 respectively. After preparing the final accounts for the year ended 31st March, 2016, it was discovered that interest on capital @ 12% per annum was not allowed and interest on drawings amounting to Rs.. 4,000, Rs. 5,000, Rs. 3,000 and Rs. 2,400 respectively was also not charged. Pass necessary adjustment journal entry and showing your working clearly

Posted by Jai Krishan Prasad 1 year, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

The average profit earned by a firm is Rs. 60,000 including abormal income of Rs. 4,000 on recurring basis. Firm had a fixed assets of Rs. 3,00,000 and current assets of Rs. 60,000. Its creditors and other liabilities were Rs. 1,40,000. Calculate Goodwill of the firm based on 3 times of super profit if the normal rate of earnings is 15% . Posted by Ravi Bhatt 5 years, 3 months ago

Posted by Ragini Verma 1 year, 4 months ago

CBSE > Class 12 > Accountancy

2 answers

Ragini Verma 1 year, 4 months ago

0Thank You

Ragini Verma 1 year, 4 months ago

Please Answer it

0Thank You

ANSWER

Revaluation of account

Posted by Ayush Mishra 1 year, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

. X, Y and Z are partners sharing profits and losses in the ratio of 3:2:1. Their Balance Sheet as on 31.3.2018 was as follows: Balance Sheet as on 31.3.2018 Assets Liabilities ₹ 40,500 Capitals: XX2 20,830 17,550 14,000 Y Machinery R 30,000 Investments 20,000 Stock in trade 10,000 Joint Life Policy 10,000 Debtors 18,500 Profit and loss A / C 14,000 Cash at bank 6,000 Mrs. Y's loan Creditors Life Policy Fund F 8,700 1,500 5,420 Investment Fluctuation fund 1,08,500 1,08,500 The And received from infidiane pr The firm was dissolved on the above date. 13 01 a) Joint life policy is surrendered for 12, 000 Machinery is realised 755,000, Stock is realised for 15, 000, Debtors realised 6,150 for b) Investments are taken over by Mr. X for *17, 500 sation - Z c) Mr. Y agrees to discharge his wife's loan. Gability taken by pul d) It is found that an investment not recorded in the books is worth 3,000. The same is taken over by one of the creditors. e) Expenses of realisation amounted to 7600. Prepare: a. Realisation A/c b. Partners' capital Accounts and c. Bank A/c (Ans: Profits on Realization Rs 26,470, Final capital balance paid: X 34,985, Y 28,323, Z 14,162 and Bank A/c Total 87,420.) 72

Posted by Tina William 1 year, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Page 12 of 340

myCBSEguide App

myCBSEguide

Trusted by 1 Crore+ Students

Install Now

Test Generator

Create papers online. It's FREE.

Try Now

CUET Mock Tests

75,000+ questions to practice only on myCBSEguide app

Install Now

myCBSEguide

myCBSEguide

Test Generator

CUET Mock Tests

Download myCBSEguide App

All Courses

Other Websites

CBSE Courses

Resources

Corporate

NCERT Solutions

CBSE Sample Papers