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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 Jana Ca 1 year, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Jai Krishan Prasad 1 year, 4 months ago

Please answer bata do

ANSWER

Chapter 2 example 17

Posted by Naman Bisht 1 year, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

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IOD

Posted by Ninja Blaze 1 year, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

A partner draws rupees 1000 per month under the partnership deed interest on drawings is to be charged at the rate of 15% per annum calculate interest that should be charged to the partner if the drawings are made in the beginning of the month in the middle of the month at the end of the month

Posted by Kashish Tyagi 1 year, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

$ Sonu $ { Rich Mindset } 1 year, 6 months ago

Begining of the month - 1125 Middle of the month - 900 End of the month - 975

ANSWER

Explain the term redemtion of debenture

Posted by Evalareen Sohtun 1 year, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

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Numerical questions

Posted by Satyam Jhariya 1 year, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

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Hu

Posted by Karan Kesharwani 1 year, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

AanIllustration 21 (Calculation of Opening Capital). Assignment fixed Aan and Mohan are partners sharing profits and losses in the ratio of 3:2. The firm maintains fluctuating Capital Accounts and the balance of the same as on 31st March, 2022 was *4,00,000 and 3,50,000 for Aan and Mohan respectively. Drawings during the year were 75,000 each. As per Partnership Deed interest on Capital @ 10% p.a. on Opening Capital had been allowed 6,67,500 15,000 7,82,500 to them.

Posted by Laxmi Kumari 1 year, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

The capitals of Asha, Lata and Bhosle as on 31st March, 2018 amounted to Rs.3,00,000; Rs.11,00,000 and Rs.22,00,000 respectively. The profits amounting to Rs.6,00,000 for the year 2017-18 which were distributed in the ratio of 4:1:1 after allowing interest on capital @ 10% p.a. During the year, each partner withdrew Rs.1,00,000 per month in the beginning of each month. The Partnership Deed was silent as to profit sharing ratio and interest on drawings but provided for interest on capital @ 12% p.a. Showing your working neatly, pass the necessary adjustment entry to rectify the above error

Posted by Amey Mor 1 year, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Adil and bhavya are partners sharing profits and losses in the ratio of 7:5 they admit Chris their manager into partnership who is to get 1/6th share in the business Chris brings rupees 100000 for his capital and rupees 36000 for the one by 6th share of goodwill which he acquires one by 24th from Adele and one by 8 from Bhagya profit for the first year of the new partnership was rupees 40000 fast necessary journal entries for Chris admission and apportion the profit between the partners

Posted by Vvs. T.S2714 1 year, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Question 20 chapter change in profit sharing ratio among the existing partner

Posted by Anuj Sharma 1 year, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

lata and Mamta are partner with capital three like and two leg respectively sharing profit as lata 70% Mamta 30% during the year and 31st March 2023 they on a profit to 26000 43 being allow interest on the partners loan the term of the partnership rs following through some the capital list to be allows 7% per annum interest to be get salary to 2500 per month interest on mumtaz loan account 80000 for the whole year interest on drawing of partner 8% for an I am drawing being lata 36000 and month of 48000 1 by 10 of the distribution profit should be transferable to the general

Posted by Disha Dey 1 year, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Chapter 1 question 4,5

Posted by Vandana Dagar 1 year, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Vinod and Satish are partners. Their capitals on 1st April, 2021 showed a balance of 5,00,000 and 7,50,000 respectively. On 1st July 2021, Vinod introduced additional capital of 2,00,000 and Satish 1,00,000. On 1st October 2021, Vinod withdrew 50,000 and on 1st January, 2022 Satish withdrew 40,000 from their capitals for their personal use. As per the partnership deed interest on capital is to be provided @8% p.a. Calculate interest for both the partners.

Posted by Sahejdeep Johal 1 year, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Draw profit and loss appropriation account

Posted by Shraddha Chauhan 1 year, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Alok Limited forfeited 300 equity shares of rupees 10 each fully called up held by Ram for non payment of allotment money of rupees 3 per equity share and final call money of rupees 4 per equity share out of this 250 shares were we should do some total payment of 2000 give the general entries for for feature of the issue

Posted by Vandana Sharma 1 year, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

What is a charge

Posted by Siddharth Chandak 1 year, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

A and B are partner sharing profit and loss in the ratio of 2:1 . There capital as on the 1st april 2020 A=300000, B=500000, as on the 1st october they decided there capital will be 400000 each. Interest on capital will 10 % p.a., interest on drawing A=2000, B=1500, salary to B 1000 pm, commission to A 10000 p.a., create reserve of 10% , there profit is 120000, prepare partner's capital account, fixed and fluctuating

Posted by Aashana Sharma 1 year, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Veer limited invited applications for 1 lakh equity shares of rupees 500 each at a premium of rupees 100% amount will be payable as on application rupees 200 per share On allotment rupees 300 per share including premium On first and final call rupees 100 per share applications were received for 2 lakh shares. application 450,000 shares were rejected and the applications money was refunded proto allotment was made to remaining applicants amount over paid on application what adjusted towards some due on allotment all calls made were and were received except the first and final call on rupees 100 shares allotted to Vasu. These shares were for fitted the forfeited shares were re issued to Ravi for rupees 60000 fully paid up .passed in necessary journal entries in the books of company for the above transaction

Posted by Muskanpreet Kaur 1 year, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Veer limited invited applications for 1 lakh equity shares of rupees 500 each and a premium of rupees 100 per share amount will be payable as on application rupees 200 per share on allotment rupees 300 per share including premium and first and final call rupees 100 per share applications were received for 2 lakh shares

Posted by Muskanpreet Kaur 1 year, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Class 12 accounts comprehensive project

Posted by Yashvi Jain 1 year, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Aseem Mahajan 1 year, 7 months ago

<font face ="Times New Roman">DIY in future it will be really helpful trust me

ANSWER

Pranav, Karan and Rahim were partners sharing profits in the ratio of 3:2:1. Their capitals were 5,00,000. 3,00,000 and 2,00,000 respectively as on 1st April, 2022. According to the partnership deed, they were entitled to an interest on capital at 10% p.a. For the year ended 31st March, 2022, profit of? 78,000 was distributed among the partners without providing for interest on capitals. Pass the necessary adjusting entry and show the working clearly.

Posted by Vrinda Garg 1 year, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Brophia Berthline 7 months, 4 weeks ago

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ANSWER

45

Posted by Kartik Yadav 1 year, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Naresh and Sukesh are partners with capitals of 3,00,000 each as on 31st March, 2023. Naresh withdrawn 50,000 against capital on 1st October, 2022 and 1,00,000 drawings against profit. Su also had drawings of 1,00,000. Interest on capital is to be allowed @ 10% p.a. Net profit for the year was 2,00,000, which is yet to be distributed. Pass the Journal entries for interest on capital and distribution of profit. [Ans.: For Interest on Capital: Dr. Profit & Loss Appropriation A/c by 82,5 Cr. Naresh's Capital A/c by 42,500 & Sukesh's Capital A/c by 40,00 For Profit distribution: Dr. Profit & Loss Appropriation A/c by 1,17,500 Cr. Naresh's Capital A/c by * 58,750 and

Posted by Mohan Kumar 1 year, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Artisans bhartiarepartnersisa frimsharingprofitistheratioof3:2 the following trail balance wasextractedfromtheir books as at 31st March 2016

Posted by Rishi Raj 1 year, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

What is the statement of affairs? And how does it prepare? How does it different from balance sheet

Posted by Yahan Roy 1 year, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Kamla and Kapil are partners having fixed capital of rupees 500000 each as on 21st March 2021 Kamla introduced for the capital of rupees 100000Kamla and Kapil are partners having fixed capital of rupees 500000 each as on 21st March 2021 Kamla introduced for the capital of Rupees 1 lakh on 1st October 2021 where as Kapil withdraw on interest on capital is to be allowed 10% per annum the form on net profit rupees 6 lakh for either yearKamla and Kapil are partners having fixed capital of rupees 500000 each as on 21st March 2021 Kamla introduced for the capital of Rupees 1 lakh on 1st October 2021 where as Kapil withdraw on interest on capital is to be allowed 10% per annum the form on net profit rupees 6 lakh for either and 31st March 2022 pass the general entry for interest on capital and prepare profit and Loss appropriation account

Posted by Arshpreet Kaur Ankoo 1 year, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Sahana Anahas 1 year, 7 months ago

1+2

ANSWER

Fixed and fluctuating series

Posted by Ananya Pandey 1 year, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Founder of Accountancy

Posted by $ Sonu $ { Rich Mindset } 1 year, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

A,B and C are sharing profit and losses in the ratio 2:2:1 they decided to share profit w.e.f. 1st april, 2023 in the ratio 5:3:2 machinery 250000, computer 200000,sundry creditors 90000 outstanding expenses 15000 pass the adjustment entry

Posted by Sandeep Kaur 1 year, 7 months ago

CBSE > Class 12 > Accountancy

2 answers

Sahana Anahas 1 year, 7 months ago

.

Sandeep Kaur 1 year, 7 months ago

Answer of this question

ANSWER

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