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

Under fixed method capital balance will never be negative that is it will never show a debit balance whereas under fluctuating method the capital can be negative which means it may have a credit or debit balance.

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Amanish Navodian 6 years, 10 months ago

Both A/c's credit blance shown in capita A/c.

3Thank You

ANSWER

What to do in accountancy to avoid silly mistakes

Posted by Manav Gupta 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Sakshi Jain 6 years, 10 months ago

Practice makes a man perfect .......

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ANSWER

Chaptwr 3

Posted by Om Prajapati 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Sakshi Jain 6 years, 10 months ago

Of which book and what. ...???

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ANSWER

What will be the posting of securities premium reserve in cash flow statement

Posted by Khushi Khandelwal 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Varun Arora 6 years, 10 months ago

Include it in financing activities if it is increasing

2Thank You

ANSWER

Distinguish between fixed capital account and fluctuating capital account

Posted by Divya Khadka 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Gaurav Seth 6 years, 10 months ago

<div style="margin-bottom:0.0001pt; text-align:justify; padding:0in 5.4pt">Points</div>	<div style="margin-bottom:0.0001pt; text-align:justify; padding:0in 5.4pt">Fixed Capital Method</div>	<div style="margin-bottom:0.0001pt; text-align:justify; padding:0in 5.4pt">Fluctuating Capital Method</div>
<div style="margin-bottom:0.0001pt; text-align:justify; padding:0in 5.4pt">1.Number of Accounts</div>	<div style="margin-bottom:0.0001pt; text-align:justify; padding:0in 5.4pt">Two accounts, viz., capital and current account.</div>	<div style="margin-bottom:0.0001pt; text-align:justify; padding:0in 5.4pt">One account, viz., capital account.</div>
<div style="margin-bottom:0.0001pt; text-align:justify; padding:0in 5.4pt">2. Nature of Account / Balance</div>	<div style="margin-bottom:0.0001pt; text-align:justify; padding:0in 5.4pt">Remains unaltered</div>	<div style="margin-bottom:0.0001pt; text-align:justify; padding:0in 5.4pt">Fluctuates.</div>
<div style="margin-bottom:0.0001pt; text-align:justify; padding:0in 5.4pt">3. Adjustments</div>	<div style="margin-bottom:0.0001pt; text-align:justify; padding:0in 5.4pt">Adjustments like interest on capital, drawings, interest on drawings, etc. are made in the current accounts.</div>	<div style="margin-bottom:0.0001pt; text-align:justify; padding:0in 5.4pt">Adjustments are made in the capital account itself.</div>
<div style="margin-bottom:0.0001pt; text-align:justify; padding:0in 5.4pt">4. Appearance in the balance sheet</div>	<div style="margin-bottom:0.0001pt; text-align:justify; padding:0in 5.4pt">Both capital and current accounts appear.</div>	<div style="margin-bottom:0.0001pt; text-align:justify; padding:0in 5.4pt">Only capital account appears .</div>
<div style="margin-bottom:0.0001pt; text-align:justify; padding:0in 5.4pt">5. Specific mention</div>	<div style="margin-bottom:0.0001pt; text-align:justify; padding:0in 5.4pt">It should be specifically mentioned in the partnership deed.</div>	<div style="margin-bottom:0.0001pt; text-align:justify; padding:0in 5.4pt">Not necessary.</div> <div style="margin-bottom:0.0001pt; text-align:justify; padding:0in 5.4pt"> </div>
<div style="margin-bottom:0.0001pt; text-align:justify; padding:0in 5.4pt">6. Credit / Debit balance</div>	<div style="margin-bottom:0.0001pt; text-align:justify; padding:0in 5.4pt">Fixed capital accounts always shows a credit balance.</div>	<div style="margin-bottom:0.0001pt; text-align:justify; padding:0in 5.4pt">Fluctuating capital may some times show a debit balance.</div>

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Tom and Harry were partners in a firm sharing profits in the ratio 5 : 3. During the year ended 31.3.2015 Tom had withdrawn Rs. 40000. Interest in his drawings amounted to Rs. 2000.

Posted by Ahil Song Lover 6 years, 10 months ago

CBSE > Class 12 > Accountancy

2 answers

Diksha Goel 5 years ago

Tom's capital a/c dr 2000 to interest in drawings a/c 2000

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Bhawana Jain 6 years, 10 months ago

What to calculate here....

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ANSWER

D and E were partners

Posted by Jay Zee 6 years, 10 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

How to calculate goodwill

Posted by Thakur Abhu 6 years, 10 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Intrest on capital

Posted by Sahil Bhat 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Amit Kumar 6 years, 10 months ago

According to partnership act 1932 if partnership is registered then only Int.on capital(it should be mentioned in partnership deed) will be allowed otherwise it will not provided.

1Thank You

ANSWER

Treatment of tds in redemption of debentures.what r the journals??

Posted by Deepthi Harinath 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Manpreet Kaur 6 years, 10 months ago

Bank TDS To DRI To interest recieved

1Thank You

ANSWER

Prepare comparative statement with the following information:- PARTICULARS. 2010 2011 Net sales. 20,00,000 25,00,000 Cost of goods. 60%of sales 60%of sales sold Indirect Expenses 10%of GrossProfit Income Tax 50%Net profit before tax

Posted by Akaash Jaiswal 6 years, 10 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

In which activity short term provision for tax are under

Posted by Chanachl Sharma 6 years, 10 months ago

CBSE > Class 12 > Accountancy

2 answers

Krishna Chaudhary 6 years, 10 months ago

Yes he is right.

0Thank You

Mohit Dixit 6 years, 10 months ago

Tax operating activity.m aaaega

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ANSWER

State the provision of indian partnership act 1932 in the absence of partnershipdeed regarding 1)interst on partners drawing and 2)interst on advance other than capital

Posted by Dharun R.K. 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Amit Kumar 6 years, 10 months ago

1 no interest will be provided 2 if advance is treated as loan then 6% interest will be allowed

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Died question

Posted by Karan Soni 6 years, 10 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

A.B.C are the partners sharing profit amd loss in the ratio of 2/5 2/5 1/5 respectively.c retires,A and B decides to share future profit in the ratio of 2:1 respectively.calculate gaining ratio

Posted by Rajneesh Pandey 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Diksha Sharma 6 years, 10 months ago

New ratio -old ratio ...you'll get the gaining ...

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ANSWER

The partners of a firm distributed the profits for the year ending 31st march 2003 rs 1 40 000 in the ratio 2:2:1 without providing for the following adjustments : 1. A and B were entitled to a salary of rs.1500 per quarter 2. C was entitled to a commission of rs. 8000 3. A and C had guaranteed a minimum profit of rs. 50 000 p.a to B 4.profits were to be shared in the ratio of 3:3:2 Pass necessary journal entry for the above adjustments in the books of the firm

Posted by Vasundhara Garg 6 years, 10 months ago

CBSE > Class 12 > Accountancy

2 answers

Megha Pandey 3 years, 5 months ago

A's capital a/ c. Dr. 8000 C's capital a/c. 8000

9Thank You

Pawan Sharma 3 years, 5 months ago

A capital a\c Dr

6Thank You

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Sandeep mandeep aman were partners in a firm sharing profits ratio of 2:2:1

Posted by Anmol Ratan 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Gangesh Sharma 6 years, 10 months ago

ask full question pls

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ANSWER

What is the difference between subcribed capital, issued capital and authorised captial?

Posted by Aishwarya Sairam 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Bhawana Jain 6 years, 10 months ago

Subscribed capital is the capital which is Subscribed by the public. Subscribed capital can be more than,equal to and can be Less then but should be not less than 90%of issused capital. Issued capital is the capital issused by the company for subscription. Issused capital can be Equal to Authorised capital but cannnot be more than Authorised capital . Authorised capital is the maximum amount of capital that a company can issuse in its life time authorised by the SEBI...

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how to treat prposed dividend while doing cash flow??

Posted by Sakshi Upadhyay 6 years, 10 months ago

CBSE > Class 12 > Accountancy

3 answers

Bhawana Jain 6 years, 10 months ago

According to new changes .... Proposed dividend of previous year in added inNet profit before tax and previous year is deduced from Financing....

1Thank You

Aishwarya Sairam 6 years, 10 months ago

Current year proposed dividend is added in operating activities and previous year is deducted from financing

1Thank You

Daulat Ali 6 years, 10 months ago

Quation .8

2Thank You

ANSWER

In which way we have to solve accounts paper,marns to say from where we can start writing accounts paper

Posted by Riya Sahu 6 years, 10 months ago

CBSE > Class 12 > Accountancy

2 answers

Megha Pandey 6 years, 10 months ago

My point of view regarding your question is "Start the paper from last because question which contains more marks are covered easily ."

0Thank You

Gangesh Sharma 6 years, 10 months ago

In my point of view start from beginning...

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ANSWER

What is balance sheet

Posted by Kbbbu Mahara 6 years, 10 months ago

CBSE > Class 12 > Accountancy

2 answers

Megha Pandey 6 years, 10 months ago

balance sheet is also called" position statement " which shows the financial position of the firm

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Amanish Navodian 6 years, 10 months ago

It portrays the relatioship between Eqaity & liabilities and assats. Total of equity and liabilities= the assets.

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ANSWER

Please tell me the treatment of current year and previous year proposed dividend in cash flow

Posted by Aishwarya Sairam 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Kundan Kumar 6 years, 10 months ago

Current year ka operating activity me add hota hai Previous year ka financing activity me minus hota hai

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ANSWER

Give the journaal entry to distribute general reserve and profit and loss account balance appearing on the liabilities side of the balance sheet of a partnership firm.

Posted by P M Chaudhary. 6 years, 10 months ago

CBSE > Class 12 > Accountancy

2 answers

Megha Pandey 6 years, 10 months ago

General reserve a/c Dr. To old partner's capital a/c P/L a/ c Dr. To partner's capital a/c

1Thank You

Gangesh Sharma 6 years, 10 months ago

General reserveA/c is Dr. To old partners a/c

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ANSWER

What are extraordinary items?

Posted by Praharshith Maurya 6 years, 10 months ago

CBSE > Class 12 > Accountancy

2 answers

Prateek Seth 6 years, 10 months ago

Extraordinary items are those that occurs in extraordinary situations like losses due to earthquake Tsunami and claim of insurance etc

2Thank You

Amanish Navodian 6 years, 10 months ago

Extraordinary itmes is essantially a gain or loss that has two critical properties 1. Unusal in nature 2. Infreqvent in accurance

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ANSWER

Drop a smile if you are going to score 95% or above in board exams☺️

Posted by Prateek Seth 6 years, 10 months ago

CBSE > Class 12 > Accountancy

2 answers

Rishita Sahu 6 years, 10 months ago

1Thank You

Tanisha Garg 6 years, 10 months ago

1Thank You

ANSWER

Entries for goodwill when partner not bring goodwill in cash and when a partner bring goodwill in cash

Posted by Amanish Navodian 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Prateek Seth 6 years, 10 months ago

, when Goodwill is brought in cash: Bank account debit to new partners capital account to Premium for goodwill After that the premium for Goodwill will be distributed among sacrificing partners and the entry will be Premium for Goodwill account Dr to sacrificing partners capital account when Goodwill is not brought in cash then the entry will be new partners current account Dr to sacrificing partners capital account

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What is the treatment of proposed dividend in cash flow?? Old or new m to difference h yr confused

Posted by Mahima Goel 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Nisha Chhajer 6 years, 10 months ago

The treatment of proposed dividend in cash flow must be if there is adjustment in the cash flow that proposed dividend have balance of both current year and previous year than the previous year will be add in operating activities where as if the in their notes to account in short term provision proposed dividend is given with both the balance opening and closing then closing balance will be add in operating activity and opening balance will be deduct from financing activity

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Mrudul in Vanshika for partners in a firm with the capital of 120000 and 160000 respectively on 1st April 2015 they admitted gruelling as a partner for one fourth share in profit on his payment of 200000 as his capital end 90000 has his share of goodwill on death date the creditors of Mridul and Vanshika rupees 60000 and bank overdraft was 15,000 there assets apart from cash included stock rupees 10000 debtors Rs 40,000 plant and machinery rupees 80000 land and building 200000 it was agreed that stock should be depreciated to 8000 plant and machinery by 20% 5000 should be written off as bad debts and land and building should be appreciated by 25% prepare the revaluation account capital account of partners and the balance sheet of the new firm

Posted by Nisha Chhajer 1 year, 10 months ago

CBSE > Class 12 > Accountancy