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If a machinery of value 20000 is sold for 24000 and the profit earned was included in statement of profit and loss than what will be the treatment in cash flow statement

Posted by Mohd Affan Shah 6 years, 10 months ago

CBSE > Class 12 > Accountancy

2 answers

Rajip Chowdhury 6 years, 10 months ago

The sale value of machine will be added in investing activity and profit obtained will be subtracted from operating activity.because profit on sale of fixed asset is a abnormal gain and thus has to be excluded from operating activity.thanx

0Thank You

Harika Muskan 6 years, 10 months ago

4000 will be deducted in operating activity.

2Thank You

ANSWER

Calculate1.closing capital 2.current liabilities 3.current asset 4.Quick asset from the following figures. Cash Sales one fourth of total sales, Quick Ratio 1.5, credit sales Rs 600000, Working capital Rs.120000,prepaid expenses Rs 5000,Groos profit ratio 20p.c.stock turn over ratio 8 times Closing stock was Rs 10000 in excess of opening stock.

Posted by Premchad Kangabam 6 years, 10 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

What do you mean by coltral security

Posted by Sandeep Rana 6 years, 10 months ago

CBSE > Class 12 > Accountancy

2 answers

Rajip Chowdhury 6 years, 10 months ago

When a company approaches for bank loan it is has to keep certain assets as primary security and apart from that the company has to keep its debenture also as a secondary security to the bank.and remember debenture issued as a collateral doesnt demand interest ok.

0Thank You

Harika Muskan 6 years, 10 months ago

The security that is issued in addition to prime security is known as collateral security.

2Thank You

ANSWER

What is the change in the treatment of proposed dividend in cbse board exam for 2019?

Posted by Asha Gautam 6 years, 10 months ago

CBSE > Class 12 > Accountancy

2 answers

Harika Muskan 6 years, 10 months ago

Addition to b made is in operating activity by mistake financing had been typed there.

1Thank You

Harika Muskan 6 years, 10 months ago

Previous one is being followed as change was made in jan so it is not being considered in such a short notice so u just have to add previous year proposed dividend in financing activity and less the same one in financing activity.

3Thank You

ANSWER

Find out 1.current liability,2current asset if the working capital and Quick Ratio is given.

Posted by Premchad Kangabam 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Rajip Chowdhury 6 years, 10 months ago

Provide a sum so that i can help

0Thank You

ANSWER

How interest received on call in arrears is a financing activity.....?

Posted by Harika Muskan 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Rajip Chowdhury 6 years, 10 months ago

As it is related with issue of shares, which comes under issue of shares and thus is a financing activity.

3Thank You

ANSWER

From the following receipts and payment and information given below , prepare income and expenditure account and opening balance sheet of a cricket club organusation as on 31st december 2016

Posted by Deeya Jain 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Abhishek Raj 6 years, 10 months ago

Please send your quotation properly it's not full question check..

0Thank You

ANSWER

Revaluation expense 2000 is paid by partner . What is the treatment in admission

Posted by Aayush Panwar 6 years, 10 months ago

CBSE > Class 12 > Accountancy

2 answers

Rajip Chowdhury 6 years, 10 months ago

It will appear on the debit of revaluation acct and later posted in the credit of partner capital acct.

1Thank You

Sachin Sinha 6 years, 10 months ago

then its goes patner capital account on credit side....

0Thank You

ANSWER

B. Ltd. issued 1,000, 12% debentures of Rs 100 each on April 01, 2014 at a discount of 5% redeemable at a premium of 10%. Give journal entries relating to the issue of debentures and debentures interest for the period ending March 31, 2015 assuming that interest is paid half-yearly on September 30 and March 31 and tax deducted at source is 10%. Anybodyy plsss gve me the correct answerr

Posted by Ananthu Ak 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Harsh Sanwal 6 years, 10 months ago

kya dikkat h

2Thank You

ANSWER

If there are accumulated profits at the date new partners admission and partners decide not to show such balances in the books of firm than what will be the treatment

Posted by Mohd Affan Shah 6 years, 10 months ago

CBSE > Class 12 > Accountancy

3 answers

Mohd Affan Shah 6 years, 10 months ago

And what will be the amount the total of accumulated profits given in the question

0Thank You

Rajip Chowdhury 6 years, 10 months ago

Incoming partner a/c dr To sacrificeing partner capital acct

1Thank You

Harika Muskan 6 years, 10 months ago

An adjustment entry is passes: Gaining partner capital a/c dr. To sacrificing partner capital a/c

1Thank You

ANSWER

Debenture out of profit means?

Posted by Abhishek Garg 6 years, 10 months ago

CBSE > Class 12 > Accountancy

2 answers

Rajip Chowdhury 6 years, 10 months ago

It means that Debentures r to be redeemed out of profit which means 100% drr can be created that is drr equal to the face value of Debenture. If balance exists in drr then for remaining balance drr will be created.

0Thank You

Mohd Affan Shah 6 years, 10 months ago

It means that drr will be created out of the full value of Debentures and if drr is given already the difference between drr and full face value of Debentures will be taken as drr and also full value Debentures will be trans to general reserve

0Thank You

ANSWER

What happens in admission whne new partner brings goodwill and distribute it in gaining partners then immediately they withdrawn

Posted by Pankhudi Rathod 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Harika Muskan 6 years, 10 months ago

Firstly the goodwill is distributed among sacrificing partners then if they immediately withdraw it thn this entry is passed: Sacrificing partners capital a/c..dr To bank/cash a/c

1Thank You

ANSWER

Investment is sold at a profit which is transferred to capital reserve ...and current year's capitals reserve is given 2000 bt there is no reserve in previous year .... how to treat this in cash flow statement???

Posted by Ridhi Mehta 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Yanika Kapoor 6 years, 10 months ago

It wont be added in operating it would be shown as inflow under investing.

1Thank You

ANSWER

How to treat premium on redemption of debentures in cash flow statement??

Posted by Ridhi Mehta 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Harika Muskan 6 years, 10 months ago

It is simply added in operating activity under the head non cash /non operating expenses....

2Thank You

ANSWER

When we calculate the goodwill no. Of purchase year multiply with average profit.Why?

Posted by Girisha Jain 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Radhika Tibrewal 6 years, 10 months ago

It depends on the question If it's given purchasing year then it is multiplied Otherwise direct method according to what is said

0Thank You

ANSWER

While calculating average profit method bad debt written off is calculated or not??

Posted by Bablu Poddar 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Harika Muskan 6 years, 10 months ago

Bad debts written off r adjusted in profit i.e.. deducted from profit of that particular year in which it occurred after that simply formula is applied of average profit.....

1Thank You

ANSWER

when we need to calculate the new profit sharing ratio in admission

Posted by Poonam Goyal 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Harika Muskan 6 years, 10 months ago

For distribution of premium for goodwill we need sacrificing ratio n 4 that we need 2 calculate new profit sharing ratio.

1Thank You

ANSWER

A b c are partners sharing profits and losses in the ratio 3 ratio 2 ratio 1 is admitted as a new partner on 31st March 2018 for 14 years and stupid 250000 is capital following is a balance sheet on the date of admission liabilities capital account 83 Lakme 3 lacs C2 leg creditors 150000 bills payable 50,000 total 10 lakh SS building 250000 machinery 200000 furniture 1 lakh 50 stock one leg theatres 400051 CCL 100000 Bank 50,000 total 10 lakh following are the required adjustments aundys admission first out of the creditors a sum of rupees 50000 is going to do this amount shall be adjusted as part of his capital second belts of rupees 80000 world discounted with the bank out of which avail or 20,000 was dishonoured on 31st March 2018 but no entry has been passed for it due dates of the Other discounted bills fall in April 2018 third advertisement expenditure of Rupees 6000 is to be carried forward to the next accounting period for expensive debited in the profit and loss account includes a sum of rupees 10000 paid for 20 personal life insurance policy v a provision for doubtful debts @ 5% is to be created on in statistics expenses and revaluation amounting to 10100 is paid by a seventh during the year part of the furniture was sold for rupees 25000 the book value of the furniture sold was Rs 40,000 the proceeds was wrongly credited to the sales account get the value of the Goodwill is 756000 and debentures nearby check prepare revaluation account partners capital account send the balance sheet after 30 admission

Posted by Aniket Raghuwanshi 6 years, 10 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

What are the enteries in case of collateral security.?

Posted by Vâňšh Âřôřâ 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Gangesh Sharma 6 years, 10 months ago

1. Bank A/c Dr. To Bank loan A/c 2. Debenture suspenseA/c Dr. To % Debenture

0Thank You

ANSWER

A and B are partners with 3:2 capital c is admitted for 1/ 4 share which c acquire 2/12 from A and 1/12 from B. Goodwill is 12000 calculate when Goodwill in cash and when Goodwill not in cash

Posted by Manan Singh 6 years, 10 months ago

CBSE > Class 12 > Accountancy

3 answers

Vaishali Gupta 6 years, 10 months ago

Why u use current account here????

0Thank You

Sakshi Jain 6 years, 10 months ago

Firstly calculate new profit sharing ratio..then sacrificing ratio Case 1 :- pass the normal entry and distribute the amount on the basis of sacrificing ratio.. Case 2:- c's current a/c debit ....rs To sacrificing partners capital a/c. ....rs Amount distribute on the basis of sacrificing ratio...?????

0Thank You

Harika Muskan 5 years, 8 months ago

What 2 calculate....??

1Thank You

ANSWER

A and B partner with 3 ratio to see is admitted for one upon 42 share which she acquire 2 upon 12 from a and one upon 12 from B C is Goodwill 12000 calculate Goodwill when in cash and calculate Goodwill when not in cash

Posted by Manan Singh 6 years, 10 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Explain briefly the procedure for application of spreadsheet in accountancy

Posted by Kritika Sharma 6 years, 10 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Declaration of final dividend will result into cash inflow cash outflow or no cash flow explain with reason

Posted by Rahul Ostwal 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Harika Muskan 6 years, 10 months ago

No flow of cash bcoz it ia just a declaration not payment.

3Thank You

ANSWER

Arrears of fixed cumulative preference dividend will be shown under which main head and sub head?

Posted by Yashika Garg 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Harika Muskan 6 years, 10 months ago

As a contingent liability in notes to accounts.

5Thank You

ANSWER

Creditors include rs.8000 for contingent liability which is not yet matured. Pass the journal entry in terms of revaluation.

Posted by Anil Kumar Sharma 6 years, 10 months ago

CBSE > Class 12 > Accountancy

2 answers

Rajip Chowdhury 6 years, 10 months ago

Discounted bill is a contingent liability it will not appear in the balance sheet ok, so it cannot be included in creditor.Now when the bill gets dishonoured in future then the liability arises not before that .thanx

0Thank You

Harika Muskan 6 years, 10 months ago

No entry is passed in this case bcoz there is no increase or decrease in liability.

3Thank You

ANSWER

NPO mein sports equipment kaha record hota h

Posted by Gangesh Sharma 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Tanisha Garg 6 years, 10 months ago

Assets side

2Thank You

ANSWER

drawings are made on 15 September and only this line is given how will interest be charged

Posted by Zakariya Zakariya 6 years, 10 months ago

CBSE > Class 12 > Accountancy

2 answers

Sakshi Jain 6 years, 10 months ago

There is no information about charging intrest on drawing so according to partnership act if there is no information is given about intrest on drawing then we can't charge it....

0Thank You

Tanisha Garg 6 years, 10 months ago

If Interest rate is nit given then no interest will be charged

1Thank You

ANSWER

What is difference between capital reserve and reserve capital?

Posted by Vasundhra Bhardwaj 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Harika Muskan 6 years, 10 months ago

Reserve capital refers 2 that part of authorised capital which is not issued whereas capital reserve is amount that is set aside to meet capital losses.

2Thank You

ANSWER

Can i attempt computerized accounting?

Posted by Kaavya Singh 6 years, 10 months ago

CBSE > Class 12 > Accountancy