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

Sale is a noun and refers to an act of exchanging something for money ("The owner profited from the sale of the property"). Sell is common as a verb but can also be a noun that shares this sense of sale.

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What is TDS & Types of TDS? Explain.

Posted by Tãrùñ Ñêgi 6 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Praduman Joshi 6 years, 8 months ago

TDS IS A KIND OF WHICH YOU WILL FOR THE STUDY IN CA COURSE IF YOU ARE INTERESTED TAKE IT AFTER 12TH SERIOUSLY I AM NOT JOKING OK FINE

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What is manufacturing? Difference between direct tax and indirect tax.

Posted by Tãrùñ Ñêgi 6 years, 8 months ago

CBSE > Class 12 > Accountancy

3 answers

Yogita Ingle 6 years, 8 months ago

Manufacturing is the production of goods in large quantities after processing the raw materials into more valuable products.
Direct tax refers to those taxes which are imposed on property and income of individuals and companies and are paid directly by them to the government. For example, income tax- the tax burden cannot be shifted to any other person. The person on whom the government imposes the tax must pay a part of his/her income as tax to the government. Indirect tax refers to those taxes which are imposed on an individual but are paid by another person either partly or wholly. Hence, the impact and incidence of taxes are on different persons. Customs and excise duties are examples of indirect taxes. Here the producer bears the impact and the incidence of tax on the consumer. Indirect taxes are those taxes in which the tax burden can be shifted to another person. The impact and incidence of tax falls on different persons. For example, the sales tax where the tax burden is shifted by the seller of the commodity to the buyer. The impact of indirect taxation can be shifted on to others while the impact of direct taxation cannot be shifted. Example: Direct tax- income tax and indirect tax- sales tax

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Gyan Prakash 6 years, 8 months ago

And indirect tax means the tax which is taken on sale of any manufactured product.

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Gyan Prakash 6 years, 8 months ago

Direct tax means the tax which is taken on manufacturing of goods.

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What is mean of capital receipts & payments OR revenue receipts & payments

Posted by Shivam Sharma 6 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Yogita Ingle 6 years, 8 months ago

Capital receipts are the income received by the company which is non-recurring in nature. They are part of the financing and investing activities rather than operating activities. The capital receipts either reduces an asset or increases a liability. The receipts can be generated from the following sources:

Issue of Shares
The issue of debt instruments such as debentures.
Loan taken from a bank or financial institution.
Government grants.
Insurance Claim.
Additional capital introduced by the proprietor.

Revenue Receipts are the receipts which arise through the core business activities. These receipts are a part of normal business operations that is why they occur again and again however its benefit can be enjoyed only in the current accounting year as its effect is short term. The income received from the day to day activities of business includes all the operations that bring cash into the business like:

Revenue generated from the sale of inventory
Services Rendered
Discount Received from the creditors or suppliers
Sale of waste material/scrap.
Interest Received
Receipt in the form of dividend
Rent Received

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Ram and Mohan,two partners,drew for their personal use 1,20,000 and 80,000 interest is chargeable @6% p.a on the drwaings. What is the amount of interest chargeable from each partner ?

Posted by Susmit Mishra 6 years, 8 months ago

CBSE > Class 12 > Accountancy

2 answers

Manpreet Kaur 6 years, 8 months ago

Ram=7200 and mohan=2400

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Alisha Wadhwa 6 years, 8 months ago

Ram= 3600 Mohan = 2400.

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Which book is the best ts grewal or ncert of accounts for 12th class

Posted by Anushka Kumari 6 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Nitin Jain 6 years, 8 months ago

Underatand from TS Grewal and at the end before a month before finals do ncert.

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Sales = 480000 GP = 20% on COGS Purchase = 380000 Opening stock = 50000 By activity ratio

Posted by Aditi Shrivastava 6 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Deepanshu Jain 6 years, 8 months ago

Let the cost be 100

Profit = 20

So, Sale price = 120

As per question if 120 =480000

Then 100= 480000/120X100

Cost of goods sold =400000

Activity Ratio = cogs/ avg. Stock

= 400000/50000

= 8 times

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NCERT ALL QUESTION

Posted by Banita Mehta 6 years, 8 months ago

CBSE > Class 12 > Accountancy

2 answers

Banita Mehta 6 years, 8 months ago

NCERT ALL QUESTION CLASS 12

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Banita Mehta 6 years, 8 months ago

Partnership chapter question 17

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How to solve a loss appropriation account

Posted by Harpreet Brar 6 years, 8 months ago

CBSE > Class 12 > Accountancy

0 answers

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Ncert npo question number 7

Posted by Chaps Kalabilla 6 years, 8 months ago

CBSE > Class 12 > Accountancy

0 answers

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Who are intrnal users of accounting information??

Posted by Jyoti Sonkar 6 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Tripti Rawat 6 years, 8 months ago

Internal users are owners, managers, and employees.

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Difference between partnership deed n partnership agreement??????

Posted by Radha Agrawal 6 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Sree Srinivas 6 years, 8 months ago

Partnership deed is in writing and partnership agreement is oral. Partnership deed is signed by all the partners but partnership agreement is signed by the partners. Partnership deed is registered in the court of law whereas partnership agreement is not registered

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Ncert chapter 2nd partnership question no.40

Posted by Ram Mani Yadav 6 years, 8 months ago

CBSE > Class 12 > Accountancy

0 answers

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Why the make balance sheet in npo

Posted by Roshan Kumar 6 years, 8 months ago

CBSE > Class 12 > Accountancy

0 answers

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What is acountancy

Posted by Seema Goswami 6 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Roshan Kumar 6 years, 8 months ago

Acountancy is systamatic recorded transaction day to day

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7. How are the following dealt with in the accounts of a Not-for-Profit Organisation? Case I Prize Fund Prizes Awarded Cr.) Case lI 50,000 Match Fund Dr.) 1,00,000 1300m 12,000 15,000 Match Expenses Investments of Match Fund Interest on Match Fund Investments Prizes Awarded 35,000 60,000 480 Match Expenses 1,00 8,00 3,000 19,000 [Hints: Case I. Prizes awarded 12,000 will be deducted from the Prize Fund.The balance of 38,000 will 25,00 1,60,0 appear on the Liabilities side of the Balance Sheet. Match expenses will be debited to the lncome and Expenditure Account because there is no specific fund maintained to meet the expenses. Case II. Interest on the Match Fund Investments will be added to the Match Fund (because it is the income of the particular fund). From the total Match Fund, match expenses will be deducted

Posted by Abhi Kumar Dudeja 6 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Lovely Dhawan 6 years, 8 months ago

These all are prepared in the balance sheet as fund is given

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Rent on payment side is 18000 In adjustment he says that : the club paid 3 month's rent in advance both in the beginning and at the end of the year How it is treated in NPO final account

Posted by Dolly ?️ 6 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Anjali Bhati 6 years, 8 months ago

Give answer

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Gopal is a partner in a firm. He withdrew ₹1000 p.m. regularly on the first day of every month during the year ended 31st March ,2018 for personal expenses. If interest on drawings is charged @ 15%p.a. calculate the interest on the drawings of Gopal.

Posted by Debojyoti Chatterjee 6 years, 8 months ago

CBSE > Class 12 > Accountancy

2 answers

Sree Srinivas 6 years, 8 months ago

10,000*12=120,000 120,000*15/100×6.5/12=9750 12+1/2=13/2=6.5 ( the average)

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Debojyoti Chatterjee 6 years, 8 months ago

What is the answer tell me please

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L, M, and N are partners in the firm sharing profit and losses in the ratio of 2:3:5. On the 1st April, 2016 L bought their fixed capitals were Rs. 2,00,000, Rs 3,00,000, and Rs. 4,00,000 respectively. their partnership deed provides for the following: (i) Interest on the capital @ 9% per annum. (ii) Interest on drawing @12% per annum, Interest on partner's loan @12% per annum. On July 1st, 2016, L bought Rs. 1,00,000 as additional capital and N withdrew Rs. 1,00,000 from his capital. During the year L, M, and N withdrew Rs. 12,000, Rs. 18,000 and Rs. 24,000 respectively for their personal use. On January 1st, 2017, the firm obtain a loan of Rs. 1,50,000 from M. The net profit of the firm for the year ended March 31st, 2017 after charging interest on M's loan was Rs. 85,000.

Posted by Aman Kumar Rana 6 years, 8 months ago

CBSE > Class 12 > Accountancy

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Mita and usha are partners in a firm with profit ratio 2:3. Their capital as on 1st april,2015 showed balance of 1,40,000/- and 1,20,000 respectively. The drawings of mita and usha were 32,000/- and 24,000/-. Both the amounts were withdrawn on 1st jan 2016. It was found that following items had been omitted while preparing the final accounts for the year ended 31st March,2016: (a) Interest on capital @ 6% p.a. (b) Interest on drawing @ 6% p.a. (c) mita was entitled with commission of 8000/- for the whole year. Pass rectifying entry in the books of the firm.

Posted by Harshit Kaur 4 years, 7 months ago

CBSE > Class 12 > Accountancy

2 answers

Nutan Gupta 5 years, 4 months ago

Mita a/c Dr. 6186 to usha a/c. 6186

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Anusha Goyal 5 years, 5 months ago

6816

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abhay babu and charu are partners sharing profit

Posted by Shobha Vishwakarma 4 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

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Aand B are partners a's capital is rs 100000 and b's capital is rs 60000. Interest on capital is payable@6%p.a.is toget salary in 3000 per month.net profit for the year is rs 80000 .prepare profit and loss appropriatiin account.

Posted by Simran Jyot 6 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Satendra Kumar Singh 6 years, 8 months ago

Interest on A'S capital =100000×6÷100=6000 Interest on B'S capital =60000×6÷100=3600 B's salary =3000×12=36000 P and L appropriate A/C ■ TO to int. on cap.A'S = 6000 =9600 B'S =3600 to B's salary =3000×12 = 36000 to profit A's =17200 =34400 B's = 17200 ●80000 _______ ■BY by profit for the year =80000 ●80000 ________

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