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

Subscription is a membership fee paid by the members of the club or any other NPO organisation. Money received through subscription is treated as an income. It comes to cr. Side of i&e a/c.

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In case of fixed capitals ,partners current account will have

Posted by Shweta Jaiswal 6 years, 5 months ago

CBSE > Class 12 > Accountancy

2 answers

Vaidika Sahu 6 years, 5 months ago

Capital is fixed

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Ujjawal Kumar 6 years, 5 months ago

The balances of profit nd loss appropriation account other than capital balances

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When you will see BS you will see GoodwillA/c on the asset side .How firm developed that goodwill?

Posted by Hameer R 6 years, 5 months ago

CBSE > Class 12 > Accountancy

4 answers

Ankit Arya 6 years, 4 months ago

As per the Para 16 of Accounting Standard 10, goodwill is recorded in the books only when some consideration in money or money’s worth has been paid for it. This practice is mandatory to follow. In the case of admission, retirement, death or change in profit sharing ratio among existing partners, Goodwill Account cannot be raised as no consideration is paid for it.

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Lovely Dhawan 6 years, 5 months ago

See goodwill means reputation which u can developed by working for long hours,providing good quality products,etc

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Chanchal Gupta 6 years, 5 months ago

Work in a firm as a trust worthy person...

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Kushpreet Saini 6 years, 5 months ago

By working for a long period of time

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but Raised goodwill we can't show in the new balance sheet. We have to written of it at the same time

Posted by Hameer R 6 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Lovely Dhawan 6 years, 5 months ago

Yes..if the goodwill is shown in B/S then u should write off that goodwill to old partners in their old profit sharing ratio E.g partner. A/C. Dr. To goodwill It will written off to all the old partners in tgeir old profit sharing ratio

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A and B are partners sharing profit and losses in the ratio of 5:3. On 1st april 2019 C is admitted to the partnership firm for 1/4th share of profits. For this purpose, goodwill is to be valued at two years purchase of last three years profit. Profits to be weighted 1:2:3, the greatest weight being given to last year. Net profit before partner's renumeration were 2016-2017: ₹200000; 2017-2018:₹230000; 2018-2019:₹250000. The renumeration of the partners is estimated to be ₹90000 p.a. Calculate amount of goodwill

Posted by Aditi Pandey 6 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Varnika Sangwan 6 years, 5 months ago

2,90,000 Of the firm And of patner is 72500

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If valued goodwill is not to show in the books of account (as per AS 26) then how one firm can develop goodwill?

Posted by Hameer R 6 years, 5 months ago

CBSE > Class 12 > Accountancy

2 answers

Sia ? 6 years, 5 months ago

According to AS-26, Goodwill should be recorded in the books only when some consideration in money or money’s worth has been paid for it. If no consideration is paid for it than no Goodwill Account is raised.

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Hameer R 6 years, 5 months ago

Thanks But valued goodwill we have to written off at the same time we can't show that raised goodwill in the new balance sheet .

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What is cross sectional analysis

Posted by Gurjit Bath 6 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 6 years, 5 months ago

Vertical Analysis

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Parbhand dusro se kareye karvane ki kala h yehe paribhasa kisne d h

Posted by Vinay Singh 6 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Varnika Sangwan 6 years, 5 months ago

Mena

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A & B started partnership on 1st of September. A withdraws 5,000 per month & B withdraws 3,000 per month. Calculate interest on drawings in each of the following cases. Interest on drawings @ 10% per annum. year ends on 31 March.

Posted by Adithyan S 6 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Varnika Sangwan 6 years, 5 months ago

A-5000*12*10/100*7/12=3500 B-3000*12*10/100*7/12=2100

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Accounting treatment for dissolution expenses borne by the firm

Posted by Madhavi Singh 6 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Kushpreet Saini 6 years, 5 months ago

Realisaton expenses a/c dr. To bank a /c

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Dk goel question number 9 of 2 nd chapter change in profit sharing ratio

Posted by Ujjawal Kumar 6 years, 5 months ago

CBSE > Class 12 > Accountancy

4 answers

Ujjawal Kumar 6 years, 5 months ago

How do i get this figure 18,00,000 in these questions please answer that

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Ujjawal Kumar 6 years, 5 months ago

Plz answer the question from the new dk goel book

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Ujjawal Kumar 6 years, 5 months ago

Not it is not that question from the new book

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Diya Gupta 6 years, 5 months ago

Firstly find out adj. Profits of each year Then multiply with weight that is 1,2,3,4,5 respectively( €W = 15) Then find their sum (€W*pts.=18,00,000) and divide ( 18,00,000/15=120,000) which is average weight profits Last step Goodwill = 3 multiply average weight profits And answer will be 360,000 rs.

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what will be the treatment of 10% of govt. bond when its given in balance sheet

Posted by Anjali Chaudhary 6 years, 5 months ago

CBSE > Class 12 > Accountancy

0 answers

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How is new partner admited in the firm

Posted by Aish Mathur 6 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 6 years, 5 months ago

A new partner can be admitted into a firm with the consent of all the existing partners. e.g. if there are five partners in a firm and all the partners except one of the partners want to admit a new partner, the new partner cannot be admitted in the firm.

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abha and binay are partners decided to admit chitra as a new partner for 1/4 sharing profits following is the balance sheet to abha and beena as at

Posted by Bharti Miglani 6 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Ujjawal Kumar 6 years, 5 months ago

Complete the question

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Goods sold for cash

Posted by Nitin Yadav0007 6 years, 5 months ago

CBSE > Class 12 > Accountancy

3 answers

Parteek Gurjar 6 years, 5 months ago

Cash a/c Dr. To sales a/c

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Ayush Sharma 6 years, 5 months ago

Cash a/c dr TO sales a/c

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Deepika Bahl 6 years, 5 months ago

Cash a/c Dr To purchases a/c

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DK goel chapter admission of a new partner question 65 unsolved

Posted by Gurpreet Kaur 6 years, 5 months ago

CBSE > Class 12 > Accountancy

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Hardeep and sandeep are partners sharing profits in ratio3:2.they decided to share profits equally w.e.f 1 April 2019.The goodwill appeared in books at rs25000.As on 1 April 2019,it was valued at rs 100000.they decided to carry goodwill in the books of firm.pass journal entry

Posted by Geeta Goyal 6 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Alisha Wadhwa 6 years, 5 months ago

Sandeep 7500 To hardeep 7500

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Chapter 5 admions of patnars 75

Posted by Kuldeep Dhruw 6 years, 5 months ago

CBSE > Class 12 > Accountancy

0 answers

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MCQ for class 12

Posted by Ritesh Kumar 6 years, 5 months ago

CBSE > Class 12 > Accountancy

0 answers

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Forfeiture of share brief explanation

Posted by Paras Arya 6 years, 5 months ago

CBSE > Class 12 > Accountancy

2 answers

Lovely Dhawan 6 years, 5 months ago

In simple language aap ise kabza keh skte h ki company kisi ke share par kabza kr liya

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Yash Pandat 6 years, 5 months ago

Forfeiture of shares means cancelling the shares for non-payment of calls due..

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T.S. Grewal of 2019 solution of cash flow statement question no. 44

Posted by Astha Gupta 6 years, 5 months ago

CBSE > Class 12 > Accountancy

0 answers

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In ch admission of partner if new ratio is not given so we always assumed old ratio as a sacrificing ratio.

Posted by Sakshi Jha 6 years, 5 months ago

CBSE > Class 12 > Accountancy

3 answers

Yash Pandat 6 years, 5 months ago

Yessss

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Jatin Kataria 6 years, 5 months ago

Yesss... As we can not assume the ratio to be same

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Sachin Kumar 6 years, 5 months ago

Yes

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ABCD are four partners sharing profit and loss in 2:2:1:1 their capitals was 900000 ,10 lakh, 11 lakh, 600000 .their partnership deed provides interest on capital @ 10% but they wrongly provided interest on capital at the rate of 8% per annum pass necessary adjustment entry to rectify the errors.

Posted by Sweta Nath 6 years, 5 months ago

CBSE > Class 12 > Accountancy

3 answers

Srishti Tuli 6 years, 5 months ago

firstly take back wrongly distributed interest given to them by debiting partner's capital account @8% then distribute interest @10% i.e. correct interest rate to be disributed. Calculate balance c/d roughly then add them and disribute them in their profit sharing ratio.

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Srishti Tuli 6 years, 5 months ago

rectifying entry : A's capital A/c. dr. 6,000 B's capital A/c. dr. 4,000 To C's capital A/c. 10,000

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Sachin Kumar 6 years, 5 months ago

First you assume very long capitals

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How to make revaluation a/c

Posted by Anjali Verma 6 years, 5 months ago

CBSE > Class 12 > Accountancy