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How to deal if both sale and purchase of furniture is given in question of npo and also asked to charge depreciation. How it is charged after sale or before it?

Posted by Niki Saini 6 years, 11 months ago

CBSE > Class 12 > Accountancy

1 answers

J K 6 years, 11 months ago

Charge depreciation first on sold furniture and add rest furniture with purchased and charge depreciation then total all that total become the depreciation amount for the year Less sold furniture from the previous year carried forward furniture and add the new purchased after deducting depreciation the balance will be shown on assets side in balance sheet for the current year

ANSWER

Depreciation charged on tangible fixed assets was Raised 70000 A fixed assets costing Rs 40000 (accumulated depreciation Rs 15000)is sold for Rs 18000

Posted by Äbhîśhěk Søñî 6 years, 11 months ago

CBSE > Class 12 > Accountancy

1 answers

J K 6 years, 11 months ago

40000-15000=25000-18000=6000will be loss on sale of fixed assets

ANSWER

Profit for the year 2015-16 be taken as having accrued at the same rate as the previous year

Posted by Sakshi Yadav 6 years, 11 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Why goodwill considered an intangible assets but not a fictitious assets?

Posted by Rohan Gupta 6 years, 11 months ago

CBSE > Class 12 > Accountancy

1 answers

Ayush Pal 6 years, 11 months ago

Goodwill is considered an intangible asset of the firm.It does not have any physical existence. On the other hand fictitious asset are neither tangible nor intangible assets. They are expenses and loss which are still to be charged from the profit

ANSWER

Question :- Alfa ltd. Invited applications for issuing 75000 equity shares of ₹10 each. The amount was payable as follows : On application -₹4 per share On first call -₹3 per share On second call -balance Applications for 1,00,000 shares were received. Shares was allotted to all the applicants on pro rata basis and excess money received with applicants was transferred towards sums due on first call. Vibha who was alloted 750 shares failed to pay the first call. Her shares were immediately forfeited. Afterwards the second call was made. The amount due on second call was also received to mohit for ₹9,000 as fully paid up. Pass necessary journal entries in the books of Alfa ltd. For the above transactions.

Posted by Muskan Kaur 6 years, 11 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

All formulas for partnership

Posted by Harsh Mehta 6 years, 11 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

AXN Ltd invited applications for issuing 1, 00.000 equity shares of Rs 10 each at a Premium Of Rs 6 per share. The amount was Payable as follows: On Application Rs. 4 Per share including Rs 2 Premium); On Allotment Rs 5 Per share (Including Rs. 2 on Premium); On First Call Rs 4 per share (including Rs 2 Premium); On second and Final Call — Balance Amount. The issue was fully subscribed. Kumar the holder Of 400 shares did not pay the allotment money. Ravi the holder of 1000 shares paid his entire share money along with allotment money. Kumar's shares were forfeited immediately after allotment Afterwards first call was made. Gupta a holder of 300 shares failed to pay the first call money and Gopal a holder of 600 shares paid the second call money also along with the first call. Gupta's shares were forfeited immediately after the first call. Second and final call was made afterwards. The whole amount due on second call was received. Pass necessary Journal entries for the above transactions in the books of the company.

Posted by Tanish Pandey 6 years, 11 months ago

CBSE > Class 12 > Accountancy

2 answers

Darknight Xx 5 years, 10 months ago

answer

Darknight Xx 5 years, 10 months ago

answer

ANSWER

All entries

Posted by Mirza Aman 6 years, 11 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Viva voce qustions

Posted by Simriti Mandair 6 years, 11 months ago

CBSE > Class 12 > Accountancy

1 answers

Mayank Sarathe 6 years, 11 months ago

Use of thrnover ratios?,entry for other than cash in debentyre and goodwill

ANSWER

Why depreciation on fixed assets is not recorded in receipts & payment account?

Posted by Girisha Jain 6 years, 11 months ago

CBSE > Class 12 > Accountancy

2 answers

Ritu Singh 6 years, 11 months ago

Because they are non cash

Prashant Saini 6 years, 11 months ago

Because they are not somethung which we r paying for it

ANSWER

Detail of chapter wise marking scheme of practical paper

Posted by Satbir Kaur 6 years, 11 months ago

CBSE > Class 12 > Accountancy

1 answers

Prashant Saini 6 years, 11 months ago

Go to cbse official website

ANSWER

What to do in the case of purposed dividend if it is in adjustment

Posted by Mohit Kohli 6 years, 11 months ago

CBSE > Class 12 > Accountancy

2 answers

Jayakrishna Menon 6 years, 11 months ago

Curret year of Proposed dividend is added in net profit calculation in operating activity and less in the finansing activity

Prashant Saini 6 years, 11 months ago

Should be shown in financing

ANSWER

What is the entry for, Debtors written of

Posted by Yogesh Jaiya 6 years, 11 months ago

CBSE > Class 12 > Accountancy

1 answers

Prashant Saini 6 years, 11 months ago

Deb. A/c dr. To cash/bank a/c

ANSWER

How does subjectivity become a limitation of financial statement analysis?

Posted by Girisha Jain 6 years, 11 months ago

CBSE > Class 12 > Accountancy

1 answers

Yogita Ingle 6 years, 11 months ago

Financial Statements are the basis- for financial analysis. Hence, the limitations of financial statements, such as influence of accounting concepts and conventions, personal judgement, disclosure of only monetary events etc. are also the limitations of analysis of financial statements.
Ignores Price-Level Changes : Financial analysis is based on financial statements, which are merely a record of historical cost. The analysis of financial statements will not yield comparable results unless the price level changes are taken into account.
Personal ability and bias of analyst : Influence of personal judgement also affects the analysis and interpretation of financial statement, as it is done by human beings. The financial analysis is also affected by the personal ability and bias of the analyst.

ANSWER

Is premium on issue of shares treated in operating activities?

Posted by Praneek Kaur 6 years, 11 months ago

CBSE > Class 12 > Accountancy

2 answers

Jayakrishna Menon 6 years, 11 months ago

No guys it is treated in financing activity

Prashant Saini 6 years, 11 months ago

Yes bcz this activity isrelqted to oleration incurring in business

ANSWER

If debenture is issued at ₹90 ( Face value = ₹100) can it be redeemed at ₹90?

Posted by Tom Cruise 6 years, 11 months ago

CBSE > Class 12 > Accountancy

2 answers

Prashant Saini 6 years, 11 months ago

If u redeem it u will get full face value of it

Girisha Jain 6 years, 11 months ago

No debenture can not redeemed at Rs 90

ANSWER

Members each paying an annual subscription treatment in NPO

Posted by Pandit Ji 6 years, 11 months ago

CBSE > Class 12 > Accountancy

1 answers

Prashant Saini 6 years, 11 months ago

Yes so what is the question?

ANSWER

What entry will be passed for written off of goodwill ?

Posted by Mukul Kushwaha 6 years, 11 months ago

CBSE > Class 12 > Accountancy

3 answers

Prashant Saini 6 years, 11 months ago

Old partners a/c dr. To goodwill a/c

Atish Pal 6 years, 11 months ago

Partners capital a/c Dr To goodwill a/c (in old ratio by old partners)

Dheerendra Kalani 6 years, 11 months ago

Partners capital a/c dr. To goodwill a/c (in old ratio)

ANSWER

When is interest received considered as financing activity

Posted by Yogita Soni 6 years, 11 months ago

CBSE > Class 12 > Accountancy

1 answers

Tom Cruise 6 years, 11 months ago

Interest received on Calls-in-Arrears

ANSWER

Which one of the Following items cannot be recorded in the profit and loss appropriation account A)intrest on capital b) intrest on drawings C) rent paid to partner d)partners salary

Posted by Rakesh Godara 6 years, 11 months ago

CBSE > Class 12 > Accountancy

3 answers

Atish Pal 6 years, 11 months ago

Rent paid to partner ( its not recorded)

Ritu Singh 6 years, 11 months ago

It's c) rent paid to partner

Ritu Singh 5 years, 8 months ago

A) intrest on capital, b) intrest on drawings d) partners salaries

ANSWER

Journal entries of admission

Posted by Ram Krishna 6 years, 11 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

tournament fund 150000 Tournament fund investment debit 150000 Income from tournament fund Investment credited 4000 Tournament expenses debate 12000 Balance sheet smart 2017

Posted by Vedant Choudhary 6 years, 11 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

What is preferences share

Posted by Ramandeep Chumber 5 years, 8 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Viva mein kya question puche jate hain??

Posted by Akshita Yadav 6 years, 11 months ago

CBSE > Class 12 > Accountancy

2 answers

Cbse Student 6 years, 11 months ago

Nd aapki file m se...mtlb aapka jo topic h usse achche se pdhke jaaiyee....ussme se

Aman Singh 5 years, 8 months ago

Related to what are you prepared for

ANSWER

5 The Quarterly Report of a company gives the following information about its Sales Revenue and Net Profit for the second quarter of the current year and the second quarter of the previous year: Particulars 2017-18 (₹) 2016-17 (₹) Revenue from Operation 16,00,000 13,00,000 Net profit 3,80,000 3,00,000 Which quarter is performing better? Has the performance improved? Comment using ratios as tools of your analysis.

Posted by Anshika Sundrani 6 years, 11 months ago

CBSE > Class 12 > Accountancy

1 answers

Aman Nagar 6 years, 11 months ago

First quarter

ANSWER

Rent receiced is part of which type of activoty

Posted by Shibu Sharma 6 years, 11 months ago

CBSE > Class 12 > Accountancy

3 answers

Sakshi Singh 6 years, 10 months ago

Firstly, it's activity not activoty?????

Alok Yadav 6 years, 11 months ago

Investing activity

Ujjwal Anand 6 years, 11 months ago

Investing activity... Treatment would be + in investing and - in operating

ANSWER

what are the topics for practical projects of accountancy?

Posted by Shreya Raj 6 years, 11 months ago

CBSE > Class 12 > Accountancy

1 answers

Samiksha Dixit 6 years, 11 months ago

Comprehensive problem and specific project

ANSWER

Journal entries format

Posted by Swangi Sharma 6 years, 11 months ago

CBSE > Class 12 > Accountancy

1 answers

Samiksha Dixit 6 years, 11 months ago

Date|. Particular |. L. F.| Dr Rs.| Cr Rs. |

ANSWER

GST chapter se kitne numbers ka question aayega iss baar ke exam me????

Posted by Gopal Jee 6 years, 11 months ago

CBSE > Class 12 > Accountancy

1 answers

Akshita Yadav 6 years, 11 months ago

Ye GST konsa chapter aa gya ab 12th mein

ANSWER

What is a new treatment for proposed dividend

Posted by Raghav Maheshwari 6 years, 11 months ago

CBSE > Class 12 > Accountancy

1 answers

Prakash Parmar 6 years, 11 months ago

actually it was change but now its effect is same as before because some districts didnt got the information and some are not aware of it... so current year's p. divident will be add in ( profit before tax and extraordinary item ) and previous year's p. dividend will be less in financing activity...

ANSWER

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