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Minakshi ltd. Has issued 8000 equity shares of rs. 10 each at a premium of 10% on each shares, applications were recieved for 12000 shares and the directors rejected 2000 applications and made allotment to the remaining applications on pro rata basis. All the money recieved except from Rakesh on his 800 shares on finall call @ rs. 3 per share. Show how the share capital will appear in the company balance sheet as per pprovisions of the company act.

Posted by Minakshi Sahu 6 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

X Y Z ltd. Has purshased a machinery costing rs. 400000 from manoj ltd. And paid rs. 40000 by way of demand draft and the balance 1. By issuing equity shares of rs. 10 each at a premium of 10% on each share. 2. By issuing 40000 equity shares. Pass necessary journal entries.

Posted by Minakshi Sahu 6 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Vami ltd. Has forfeited 400 equity shares of rs. 10 each on non payment of 1st call rs.2 and finall call rs. 3 on each share has not been made. All these forfeited shares have been re issued @ rs. 8 per share and rs. 7 paid up. Pass journal entries in the books of the firm.

Posted by Minakshi Sahu 6 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Jyoti power ltd decided to issue 8,50,000 equity share of Rs 10 each at a premium of Rs 3 per share. The whole amount was payable on application. Applications for 20,00,000 shares were recieve. Applications for 3,00,000 shares were rejected and shares were alloted to the remaining on pro-rata basis. Pass the necessary Journal entries for the above transaction in the books of the company.

Posted by Devender Rao 6 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

C S 6 years, 3 months ago

bank a.c. Dr to share application

ANSWER

X Limited forfeited 800 share of Rs.10 each, Rs. 8 called up for non payment of first call of 3 per share later 600 shares were re-issue for 6.50 per share as 8 paid up. Pass the journalit entries.

Posted by Deepali Mittal 6 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Pallavi Gupta 6 years, 3 months ago

Share capital a/c__________dr. 6400 To share first call a/c 2400 To share forfeiture a/c. 4000 Bank a/c _________dr 3900 Share forfeiture a/c_____dr 900 To share capitala/c. 4800 Share forfeiture a/c___________dr. 2100 To capital reservea/c. 2100

ANSWER

What is colletral security

Posted by Mukul Jangid 6 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Yogita Ingle 6 years, 3 months ago

A form of secondary protection sometimes required by a bank and intended to guarantee a borrower's performance on a debt obligation. The primary security on a substantial business loan is typically the thing that is being financed, such as a factory, company car or shipment, but secondary or collateral security might also be requested by a bank to help assure that the loan will be repaid.

ANSWER

Easy importance of goodwill

Posted by Surendar Sharma 6 years, 3 months ago

CBSE > Class 12 > Accountancy

2 answers

Sia ? 6 years, 3 months ago

Creating goodwill among people is important in almost every area of your life. Spreading goodwill makes people feel good about you, and it encourages them to spread goodwill to others. In business, creating goodwill can help you to build relationships that ensure the long-term success of your business.

Sakshi Talwar 6 years, 3 months ago

To increase the reputation of the firm.

ANSWER

Mc ltd. Has forfeited 600 equity shares of rs 10 each on non payment of final call rs 3 on each share of the forfeited shares 400 shares have been re issued @ rs 8 pes share fully paid. Pass journals entries.

Posted by Minakshi Sahu 6 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Pallavi Gupta 6 years, 3 months ago

Share capital a/c__________dr 6000 To share final call a/c. 1800 To share forfeiture a/c. 4200 Bank a/c _______________dr 3200 Share forfeiture a/c______dr. 800 To share capital a/c. 4000 Share forfeiture a/c __________dr. 2000 To capital reserve a/c. 2000

ANSWER

What is fund based accounting ??

Posted by Chaman Kumar 6 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Yogita Ingle 6 years, 3 months ago

Fund is the anount received or set aside by a NPO for some specific purpose. The fund amount along with the income earned on the fund cannot be used for pupose other than those for which it is received or set aside. The amount so set aside is credited to spearate fund account that is shown on liabilities side of the balance sheet, All the expenses or payments out of these funds are debited to the fund. The complete accounting that is done is called as "Fund Based Accounting".

ANSWER

Which students can do comupterised accounting in a final exam?

Posted by Ritik Kapoor 6 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

What is the project of class 12 please explain

Posted by Account Deleted 6 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

I have not opened accountancy book yet , please give me idea to study from now onwards and score more in boards

Posted by Adarsh Gupta 6 years, 3 months ago

CBSE > Class 12 > Accountancy

2 answers

Account Deleted 6 years, 3 months ago

Half of the time has already gone..and now u r asking about how to score...please read first....best of luck for opening accountancy book...

Account Deleted 6 years, 3 months ago

What a timing...excellent

ANSWER

Gopi withdraw 10,000 in the beginning of each quarter cal. interest on drawing@10%p.a. will be

Posted by Himanshu Kumar 6 years, 3 months ago

CBSE > Class 12 > Accountancy

4 answers

Piyush Patel 6 years, 3 months ago

40000×10÷100×7.5÷12= 2500

Piyush Patel 6 years, 3 months ago

10000×4 =40000 40000×10÷100×6.5÷12

Himanshu Garg 6 years, 3 months ago

Interest on drawings =Total drawings × (%/100) × (average period /12) Total drawings = 10,000 × 4 quarters = 40,000 Interest rate or % = 10% Average period = 7.5 Now, Interest on drawings = = 40,000 × 10/100 × 7.5/12 =2,500 answer...

Avishi Gupta 6 years, 3 months ago

7500

ANSWER

in case of partnership firm maximum no. of partners are ? what

Posted by Himanshu Kumar 6 years, 3 months ago

CBSE > Class 12 > Accountancy

5 answers

Piyush Patel 6 years, 3 months ago

Mimimum 2 and maximum 50

C S 6 years, 3 months ago

50

Abhi Jain Unneriya 6 years, 3 months ago

50 partners

Himanshu Garg 6 years, 3 months ago

According to Indian partnership act 1932 minimum no. Of partner should be 2 and maximum no. partner should not be more than 50 ...

Sia ? 6 years, 3 months ago

Number of Members:
The new Companies Act 2013 has prescribed the maximum number of members in case of a partnership firm should not be more than 100 in case of partnerships. In case of a partnership, the minimum number of partners is 2.

ANSWER

Better prospect ltd.aqquired land costing 1,00,000 and in payment allotted 1,000 equity shares of 100 each as fully paid . Further , the company issued 4,000equity shares for subscription payable as follows. 30 on application, 30 on allotment , 40on first and final call Application were recived for all shares which were allotted . All the money was received except the call on 200 share Pass journal entries

Posted by Tisha Gera 6 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

A and B are partner's sharing ratio 5:3 . they admitted C and D as new partner's . A sacrify 1/2 in favour of C and B sacrify 1/4 share in favour of D . calculate their new profit sharing ratio .

Posted by Mayank Raj 6 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Himanshu Garg 6 years, 3 months ago

New profit sharing ratio = 1:1:4:2

ANSWER

A and B are partner's sharing ratio 5:3 . they admitted C and D as new partner's . A sacrify 1/2 in favour of C and B sacrify 1/4 share in favour of D . calculate their new profit sharing ratio .

Posted by Mayank Raj 6 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Himanshu Garg 6 years, 3 months ago

1:1:4:2

ANSWER

if the amount due to the outgoing partner is not paid and remaining partner continued the business without settling his amount,in such a case which section of indian partnrtship act 1932 is applicable

Posted by Kulwant Singh 6 years, 3 months ago

CBSE > Class 12 > Accountancy

2 answers

Priyanshu Shukla 6 years, 3 months ago

Section 37

Ashish Kumar 6 years, 3 months ago

How to cover and revision I don't know anything i not ready to prepation for exam how do

ANSWER

What is deferred tax liability

Posted by Tanya Dewangan 6 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Chesta Gupta 6 years, 3 months ago

Company is not paid tax from 2-3 Yr it is a long term liability if deferred tax asset it mean company paid tax in advance for 2-3 year.

ANSWER

Ark and bobo

Posted by Ranjan Kumar 6 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

What is ESOP(Employee Stock Option Plan)?

Posted by Jay Sachdev 6 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Introduction of accounting

Posted by Kavya Mahiya 6 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

How to income and expenditure acc common to P and L acc

Posted by Bhanupratap Soni 6 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Chesta Gupta 6 years, 3 months ago

Both record revenue receipt and expenditure they not recorded capital receipt and expenditure

ANSWER

When subscription can be debited in income and expenditure account

Posted by Lakshita Chandak 6 years, 3 months ago

CBSE > Class 12 > Accountancy

3 answers

Lakshita Chandak 6 years, 3 months ago

Answer:- When arrear / outstanding subscription of previous year is irrevoverable now and to write off as bad *Explanation* For ex: in previous year o/s subscription was Rs. 20,000 of which Rs. 15,000 has been received but remaining will not be receiving as members have left the club..so .. Income & exp a/c Dr 5000 To o/s subscription 5000

Bhoomika Chadha 6 years, 3 months ago

When its our expense ie we need to pay to someone

Ravi Joshi 6 years, 3 months ago

When we give subscriptions

ANSWER

Question 48 of npo

Posted by Lavisha Garg 6 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Chesta Gupta 6 years, 3 months ago

Ask to teacher .answer is very long I can't explain

ANSWER

D and E were partners in a firm sharing profit in 3:1 ratio. On 1-4-2007 F admitted for 1/4th share in the firm which he acquired from D

Posted by Jiya Rai 6 years, 3 months ago

CBSE > Class 12 > Accountancy

7 answers

Piyush Patel 6 years, 3 months ago

9:3:4

Tanya Dewangan 6 years, 3 months ago

2:2:1

Jay Sachdev 6 years, 3 months ago

2:1:1

Bhanupratap Soni 6 years, 3 months ago

Yes right ans 2:1:1

Bhanupratap Soni 6 years, 3 months ago

3:1:3

Bhoomika Chadha 6 years, 3 months ago

New ratio- 2:1:1

Ravi Joshi 6 years, 3 months ago

NPSR 2:1:1 between DEF

ANSWER

In admission of partner who decides the share of new partner

Posted by Kulwant Singh 6 years, 3 months ago

CBSE > Class 12 > Accountancy

4 answers

Piyush Patel 6 years, 3 months ago

Sacrificing partners

Aaid Jainism 6 years, 3 months ago

All the partners

Himanshu Kumar 6 years, 3 months ago

new partnership deed according to all the partners

Amit Tiwari 6 years, 3 months ago

Existing partner

ANSWER

How will treat a investment flactuation fund when it is shown in balance sheet and also investment is shown in assets side and investment market value also provided in adjustments

Posted by Piyush Kumar Sharma 6 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Mahesh Kumar 6 years, 3 months ago

1)If market value is same with book value then it will be distribute to old partners in old sharing ratio

ANSWER

A, B&C are partners. There capital 50,000 ;40,000; 30,000 on 1st april 2014. They share profit and loss in 5:3:2 . C's share of profit exculding Interest on capital in gauranteed by the firm ₹16,000 p.a. B's share of profit including interest on capital & salary is quarantined by A by at a minimum of ₹26000 p.a. The profit for year ended 2015 is ₹80,000 before interest on capital @5% and salary to B ₹1000 p.m. which under the partnership allowed.

Posted by Tikshika Kumari 6 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Formulae of goodwill

Posted by Chetan Sharma 6 years, 3 months ago

CBSE > Class 12 > Accountancy

2 answers

Piyush Patel 6 years, 3 months ago

Goodwill =AP×number of puchase year

Bhoomika Chadha 6 years, 3 months ago

Average profit × no of year purchased

ANSWER

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