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Put solution of those single questions which cover whole chapter ?

Posted by Himanshu Vishwakarma 6 years, 5 months ago

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Partner capital account nature ka liability hota h (means dr. With decrease and cr. With increase) To JB old goodwill write off krte h to Dr. Kyu krte partner k account me . Unko de n rhe to cr. N krna chahiye.

Posted by Radha Agrawal 6 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Alisha Wadhwa 6 years, 5 months ago

Kyunki purchased goodwill ek asset hai or asset ka balance debit hota h,,,jb goodwill ko write off krte h tb hmari asset decrease hoti h to goodwill a/c ko credit krte h. Or partner capital a/c ko debit hum isliye krte h kyunki partners firm ki asset ko leke ja rhe h ,,,unko de nhi rhe ... Jaise another assets mei hota h

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Is salary is plused or minus to make closing capital to opening cspital

Posted by Abhijeet Jadon 6 years, 5 months ago

CBSE > Class 12 > Accountancy

2 answers

Srishti Tuli 6 years, 5 months ago

opening capital= closing capital + drawings +loss - profit - additional capital

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Srishti Tuli 6 years, 5 months ago

minus

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Comprehensive story with gst for project..??

Posted by Deepanshi Thakur 6 years, 5 months ago

CBSE > Class 12 > Accountancy

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Meaning off hidden Goodwill

Posted by Shubham Chaudhary 6 years, 5 months ago

CBSE > Class 12 > Accountancy

2 answers

Shubham Chaudhary 6 years, 3 months ago

Call in arier where it exist

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Sia ? 6 years, 5 months ago

When the value of Goodwill is not mentioned, it is assumed that goodwill is hidden or it needs to be calculated. Hidden Goodwill is calculated with the help of Capital Employed in business. To calculate the hidden goodwill, actual capital employed in business should be deducted from the total required capital.

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Dk goel 2019-20 Part 1 Volume 1 Chapter 1 practical question 54

Posted by Rajesh Shrivastava 6 years, 5 months ago

CBSE > Class 12 > Accountancy

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Dk goel ques no 35

Posted by Layka Jain 6 years, 5 months ago

CBSE > Class 12 > Accountancy

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What is face value?

Posted by Radha Agrawal 6 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 6 years, 5 months ago

Face value is the value printed or depicted on a coin, banknote, postage stamp, ticket, etc., especially when less than the actual value.

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amrita started a business with rs. 21000 and is.joined afterwards by sheena with rs 36000. after how many months did sheena join if the profits at the end of the year are divided equally

Posted by Kavisha Bhatia 6 years, 5 months ago

CBSE > Class 12 > Accountancy

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Financial statement not for profit organisation by t.s grewal give all ncert solutions of this chapter

Posted by Monu Dhruw 6 years, 5 months ago

CBSE > Class 12 > Accountancy

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A, B and C are partners sharing profit and losses in the ratio of 3:2:1 respectively. The balance sheet as 31st March, 2019 is follow Liabilities Lf. Capital a/cs. A 60000 B 60000 C 40000. 1,60,0000 Creditor. 30,000 Bills payable 10,000 =2,00,0000 Assets. Lf Land and building. 50000 Plant and machinery. 40000 Furniture 30000 Stock. 20000 Debtor. 30000 Bills Receivable. 20000 Bank. 10000 =2,00,000 D is admitted as a partner on 1st April 2019 for equal share his capital is to be 50000 following adjustment are agreed on D admission : A) out of the creditors a sum of rupees 10,000 is due to be it will be adjust against his capital B) advertisement Express of 1,200 are to be carried forward as prepaid expenses. C) Expenses debited in the profit and loss account includes a sum of rupees 2,000 paid for be personal expense D) abhil of exchange of rupees 4000 which was previously discounted with the bank was dishonoured on 31st March 2019 but entry was not passed for dishonour E) a provision for doubtful debts @ 5% is to be carried against debtors F) expenses on revaluation amounted to rupees 2100 is paid by a Prepare necessary ledger accounts and balance sheet after D admission

Posted by Yuvraj Jat 6 years, 5 months ago

CBSE > Class 12 > Accountancy

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Calculate inventory turnover ratio from the following Cash revenue from operations(cash sales) 600000 Credit revenue from operation(credit sales) 400000 Gross profit. 25%on cost Closing inventory : 3 times of opening inventory Opening inventory : 10%of cost of revenue from operation

Posted by Upasana Yadav 1 year, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Hari Thirumalai 1 year, 3 months ago

I want the answer in the vidoes

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WhaT do You mean By admission?

Posted by Riya Verma 6 years, 5 months ago

CBSE > Class 12 > Accountancy

3 answers

Sia ? 6 years, 5 months ago

When a new person joins as a partner in the firm, it is known as admission of a new partner. As a consequence old partnership comes to an end and new partnership comes into existence.

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Riya Verma 6 years, 5 months ago

Plz explain briefly in short sentences

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Palak Singh 6 years, 5 months ago

When there is lack of capital in the firm then the new partner is admitted who brings capital and goodwill for the firm.

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What is dissolution?

Posted by Pinky Jaiswal 6 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 6 years, 5 months ago

Dissolution of partnership refers to the change in the existing relations of the partners. The firm continues its business.As one or more than one can partner take over the overall business of the firm.

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What is difference between employee compensation reserve and employee provident fund

Posted by Radha Agrawal 6 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Shivam Sharma 6 years, 5 months ago

ECR. is making for EC. liability and EPF. is created into remuneration of employees, It is like a Creditors.

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Write the difference between the public company and private company?

Posted by Amar Verma 6 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Gaurav Seth 6 years, 5 months ago

<th>BASIS FOR COMPARISON</th> <th>PUBLIC COMPANY</th> <th>PRIVATE COMPANY</th>

Meaning	A public company is a company which is owned and traded publicly	A private company is a company which is owned and traded privately.
Minimum members	7	2
Maximum members	Unlimited	200
Minimum Directors	3	2
Suffix	Limited	Private Limited
Start of business	After receiving certificate of incorporation and certificate of commencement of business.	After receiving certificate of incorporation.
Statutory Meeting	Compulsory	Optional
Issue of prospectus / Statement in lieu of prospectus	Obligatory	Not required
Public subscription	Allowed	Not allowed
Quorum at AGM	5 members must present in person.	2 members must present in person.
Transfer of shares	Free	Restricted

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Accounts cash flow statement

Posted by Pawan Jain 6 years, 5 months ago

CBSE > Class 12 > Accountancy

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A and B are partners sharing p&l in the rstio 2:1their balance sheet as on 31.3 2018 was ad follows. Balance sheet as on 31.3 2018 Liabilities. $ asset. $ Creditors. 20000. Cash in hand. 5000 Bills payable. 10000. Stock. 15000 Resarve found. 12000. Debtors. 20000 Caitals. Machinery. 30000 A. 60000. Buildings. 60000 B. 40000. Investments. 12000 142000. 142000 On 1.4 2018 C is admitted into partner shi on the folloing conditions: a) C should bring in cash $ 25000 as his capital and $ 15000 goodwill for his 1/4th share in future profits. b) Appreciate buildings at 20% and stock is revalued at $ 12000. c) Provisionfor doutful debts maintained at 5% on debtors. d) Out standing salary $ 2000. Prepare: 1) Revaluation account. 2) Partners capital account. 3) New balanve sheet of the firm.

Posted by Srikanth H Srikanth H 6 years, 5 months ago

CBSE > Class 12 > Accountancy

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On 1.4.09, gold and silver started their business.gold introduced 20,000 on 1.4.09 and withdraws 5000 after 3 months.he again introduced 15000 on 1.10.09 and withdrew 8000 on 1.7.09 and 5000 on 31.3.10. During the year ended 31.3.10 the business earned a net profit of 25240. By preparing profit and loss appropriation account show, how the partners should divide this amount on the basis of effective capital employed

Posted by Rajan Garg 6 years, 5 months ago

CBSE > Class 12 > Accountancy

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Is provident fund written in partners capital account?

Posted by Goldi Singh 6 years, 5 months ago

CBSE > Class 12 > Accountancy

4 answers

Lovely Dhawan 6 years, 5 months ago

No.it is shown in bal.sheet in.liabilty side

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Shivam Sharma 6 years, 5 months ago

No, It is like a Creditors

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Pankaj Rajak 6 years, 5 months ago

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Suman Bharti 6 years, 5 months ago

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A&B are partners in a firm sharing in the ratio of 3:1 .They admit C and decide that the profit sharing ratio between B&C shall be same as existing between A&B . calculate new profit sharing ratio.

Posted by Amartya Sharma 6 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Pankaj Rajak 6 years, 5 months ago

3:1

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Calculate interest on drawings of Ashok @ 10%p.a.for the year ended 31 St march 2019,in each of the following alternative cases: A. If he withdrew Rs. 7500 in the beginning of each quarter. B. If he Withdraw Rs. 7500 at the end of the each quarter. C. If he withdrew Rs.7500 during the middle of each quarter

Posted by Nithya Lakshmi 6 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Arti Kumari 5 years, 5 months ago

I need answers

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Is journal entries of the chapter (Accounting for partnership firm - Fundamentals) will come in board paper of class 12th ?

Posted by 123 Sahu 6 years, 5 months ago

CBSE > Class 12 > Accountancy

2 answers

Pankaj Rajak 6 years, 5 months ago

Yes

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Deepika Bahl 6 years, 5 months ago

Yes

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A and B are partners sharing profits in the ratio of 3:1. Their balance sheet as on 31-12-2010 was as follows :

Posted by Yash Sapra 6 years, 5 months ago

CBSE > Class 12 > Accountancy

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what is reconstitution of firm?

Posted by Preeti Maurya 6 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Jagdish Singh 6 years, 5 months ago

Remake the firm

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What will happen to depreciation ni comparative statment will it be reduced or added to revenue from operation

Posted by Divanshu Sodha 6 years, 5 months ago

CBSE > Class 12 > Accountancy

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What is number of year purchase?

Posted by Alisha Wadhwa 6 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 6 years, 5 months ago

Number of years' purchase is the number of years' for which the firm will expect to earn the same amount of profit because of the past efforts of the firm after change of ownership.

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Difference between gaining and sacrificing ratio

Posted by Tajik Bamang 6 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 6 years, 5 months ago

Basis of Difference	Sacrificing ratio	Gaining Ratio
1. Meaning	It is the ratio in which old partners agree to sacrifice their share of profit in favour of new partners/partner	It is the ratio in which continuing partner acquires the share of profit from outgoing partner/partner
2. Effect	It reduces the profit share of the existing partners.	It increases the profit share of the remaining partners.
3. Objective	It is calculated to ascertain the share of profit and loss given up by the existing partners in favour of new partners/partner.	It is calculated to ascertain the share of profit and loss acquired by the remaining partners (of the new firm in case of retirement) from the retiring or deceased partner.
4. Time	It is calculated at the time of admission of new partners/partner.	It is calculated at the time of retirement/death of old partners/partner.
5. Calculation	Sacrificing Ratio = Old Ratio – New Ratio	Gaining Ratio = New Ratio – Old Ratio