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

1) Bank To Sh. App 3400000 2) Sh App To Bank 400000 To Sh. Capital 2400,000 To Sh. Allotment 600,000 3)Sh Allotment 5100000 To Sh. Capital 3600000 To SPR 1500000 4) Bank 4200,000 C I Arrear 300000 To Sh. Allotment 4500,000 5) Sh. Capital 400,000 SPR 100,000 To Forfeited Sh. 200,000 To C.I.Arrear 300,000 6) Bank 240,000 Forfeited Sh. 60,000 To Sh. Capital 300,000 7) Forfeited sh. 90,000 To Capital Reserve 90000

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Tamanna Lohia 2 years, 11 months ago

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Shivam Kumar 2 years, 11 months ago

Ans

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Udhay Kumar 2 years, 11 months ago

Hlo

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20 partnership transaction including journal entries ledger

Posted by Neel Sevak 3 years ago

CBSE > Class 12 > Accountancy

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Do we put cash, bank in debit side in. Realisation account

Posted by Licha Yeri 3 years ago

CBSE > Class 12 > Accountancy

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Divyansh Patel 3 years ago

It is transferred to bank alc and cash is income

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calculate opening and closing trade receivables from the following Trade receivables ratio 4 times , cost of revenue from operations 320000, gross profit ratio 20% , closing trade receivables 15000 more than opening trade receivables, cash revenue from operations being 100/3 % of credit revenue from operations

Posted by Tanya Jain 3 years ago

CBSE > Class 12 > Accountancy

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Preeti Dabral 3 years ago

Revenue from operations = 3,20,000 x {tex}\frac { 100 } { 80 }{/tex} = 4,00,000
Let Credit Revenue from operations be = 3x
Cash Revenue = x
Therefore, total revenue = x + 3x = 4x
4,00,000 = 4x
x = 1,00,000

So,Credit Revenue from operations = 3x = 3,00,000
Let Opening Trade Receivables be = y
Closing Trade Receivables = y + 15,000
Trade receivable turnover ratio = {tex}\frac { \text { Net Credit Revenue from operation } } { \text { Average Trade Receivables } }{/tex}
{tex}4 = \frac { 3,00,000 \times 2 } { y + y + 15,000 }{/tex}
8y = 6,00,000 - 60,000
{tex}y = \frac { 5,40,000 } { 8 } = 67,500{/tex}
Opening trade receivable = y = 67500
Closing trade receivable = y + 15,000 = 67500 + 15000 = 85200

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Rao and reddy

Posted by Tushar Kapoor 3 years ago

CBSE > Class 12 > Accountancy

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A B 2:1 they decided to dissolve their firm on 31 March 04 capitals on that date of A and B were 50000 Cr. And 20000 Dr. Respectively Dissolution of the firm resulted into loss of 45000 Pass necessary journal enteries for transfer of loss and final payments to partners

Posted by Suhani Khandelwal 3 years ago

CBSE > Class 12 > Accountancy

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Sample paper 1

Posted by Nandan Singh 3 years ago

CBSE > Class 12 > Accountancy

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Shivam Kumar 2 years, 11 months ago

Salutation of sample paper of 2018

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Chand and Tara are partners sharing profits as 3:2 chand's share of divisible profits amounts to rs.15000. Interest on capitals for partners were 5000 each and interest on drawings amounts to rs 2000 and rs.1000 respectively. Net profits earned by the firm will be?

Posted by Kavya Losini 3 years ago

CBSE > Class 12 > Accountancy

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Cbsc sample paper full solution !😅

Posted by Sahil Nayak 3 years ago

CBSE > Class 12 > Accountancy

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60 transaction of journal , ledger , trial balance , p & n account

Posted by Darshita Sharma 3 years ago

CBSE > Class 12 > Accountancy

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Ghnr work partner in a firm sharing profit in the ratio 749 the fixed capital were a rs 2 lakh rupees 75000 and are rupees 350,000 they are partnership de provide the following first interest on capital 9% per anum salary rupees 6000 per month 2H interest on drawing @ 6% per anum during the year ended 31st December 2009 the form earn a profit of rupees 70000 interest 750 on rupees 450 and on hours going rupees 1250 prepare profit and loss appropriation account for the year ended 31st December 2009

Posted by Ayush Sahu 3 years ago

CBSE > Class 12 > Accountancy

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50 shares of Rs. 10 each, issued at as premium of Rs. 5 per share, were forfeited by sohan Ltd. for the nonpayment of allotment money of Rs.9 per share (including premium). The first and final call on these shares at Rs. # per share was not made. Forfeited shares were re-issued @ Rs. 12 per share, fully paid up. Journalise

Posted by Aman Katiyar 3 years ago

CBSE > Class 12 > Accountancy

1 answers

Preeti Dabral 3 years ago

JOURNAL

<th scope="col">Date</th> <th scope="col">Particulars</th> <th scope="col">L.F.</th> <th scope="col">Dr.(₹)</th> <th scope="col">Cr.(₹)</th>

Share Capital A/c dr.	350	...
Securities Premium A/c dr.	250	...
To share forfeiture A/c	...	150
To share allotment A/c	...	450
(Being 50 shares forfeited for non payment of allotment money as per board’s resolution dated..)
Bank A/c dr.	600	...
To Share capital A/c	...	500
To securities Premium A/c	...	100
(Being 50 shares reissued @ Rs. 12 per share, fully paid)
Shares Forfeiture A/c Dr.	150	...
To capital reserve A/c	...	150
(Being the balance of Forfeited shares transferred to capital reserve.)

Note: Since forfeited shares are reissued at Premium, full amount of share forfeiture account has been transferred to Capital Reserve account.

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Animesh Ltd. issued 1,000, 12 % Debenture of 100 each in the following manner: i. For cash at par at Rs. 50,000 nominal value. ii. For creditors of Rs. 40,000 against purchase of machinery iii. To S.B.I. bank against a loan of Rs. 10,000 as collateral security at nominal value of Rs. 15,000. Pass Journal entries.

Posted by Palak Verma 3 years ago

CBSE > Class 12 > Accountancy

1 answers

Saini.Satwinder Saini Satwinder 3 years ago

Bank a/c dr .............. 50,00,000 To debenture application and allotement a/c ...........................50,00,000 ___________________________________ Debenture application and allotement ac dr....................50,00,000 To 12% debenture ac. .......... 50,00,000

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Comprehension project

Posted by Archana Archana 3 years ago

CBSE > Class 12 > Accountancy

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Shankar and Manu are partners in a firm .on 1st April 2014 their fixed capitals accounts showed a balance of 200000 and 400000 respectively

Posted by Avni Pareek 3 years ago

CBSE > Class 12 > Accountancy

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Preeti Dabral 3 years ago

PROFIT AND LOSS APPROPRIATION ACCOUNT
(for the year ended 31st March, 2015)

Dr.					Cr.
Particulars		₹	Particulars		₹
To General Reserve A/c (10% of 4,97,750)		49,775	By Profit & Loss A/c	5,00,000
To Interest on Capital:			Less: Interest on Loan	2,250⁽⁵⁾	4,97,750
Shankar's Current A/c	25,000⁽¹⁾		By Interest on Drawings⁽³⁾
Manu's Current A/c (10% of 4,00,000)	40,000	65,000	Shankar's Current A/c	1,800
To Profit transferred to:			Manu's Current A/c	1,800	3,600
Shankar's Current A/c	2,31,945
Manu's Current A/c	1,54,630	3,86,575
		5,01,350			5,01,350

PARTNER'S FIXED CAPITAL ACCOUNTS

Dr.							Cr.
Date	Particulars	Shankar ₹	Monu ₹	Date	Particulars	Shankar ₹	Manu ₹
2015 Mar. 31	To Bal. c/d	4,00,000	4,00,000	2014 Apr 1	By bal. b/d	2,00,000	4,00,000
				Jan. 1	By Bank A/c	2,00,000
		4,00,000	4,00,000			4,00,000	4,00,000

PARTNER'S CURRENT ACCOUNTS

Dr.					Cr.
Particulars	Shankar ₹	Manu ₹	Particulars	Shankar ₹	Manu ₹
To Drawings⁽²⁾	24,000	24,000	By Balance b/d	50,000	1,00,000
To Interest on Drawings	1,800	1,800	By Interest on Capital	25,000	40,000
To Bal c/d	2,81,145	2,68,830	By Profit & Loss Appropriation A/c	2,31,945	1,54,630
	3,06,945	2,94,630		3,06,945	2,94,630

MANU'S LOAN ACCOUNT

Dr.					Cr.
Date	Particulars	₹	Date	Particulars	₹
2015 Mar. 31	To Balance c/d	1,52,250	2015 Jan. 1	By Bank A/c	1,50,000
			Mar. 31	By Interest on Loan A/c⁽⁵⁾	2,250
		1,52,250			1,52,250

Working Note:

interest on Shankar's Capital ={tex}2,00,000\times\frac{10}{100}\times\frac{9}{12}+4,00,000\times\frac{10}{100}\times\frac{3}{12}{/tex} = 25,000
Total Drawings = 6,000 {tex}\times{/tex} 4 = 24,000
Interest on Drawings:
Since drawings are made at the beginning of each quarter, interest will be charged for 7.5 months: {tex}24,000 \times \frac{12}{100} \times \frac{7.5}{12}{/tex} = ₹1,800
If Partnership deed is silent about Interest on Loan then Interest on Loan will be allowed @6% p.a.
Interest on Loan = {tex}1,50,000 \times \frac{6}{100} \times \frac{3}{12}{/tex} = 2,250