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Anshika Ltd. issued applications for 2,00,000 equity shares of ₹10 each, at a premium of ₹4 per share. The amount was payable as follows: On application ₹ 6 (including ₹2 premium) On allotment ₹ 7 (including ₹2 premium) Balance on first and final call Applications for 3,00,000 shares were received. Allotment was made to all the applicants on pro-rata basis. Mehak to whom 400 shares were allotted, failed to pay allotment and call money. Khushboo who had applied for 300 shares failed to pay call money. These shares were forfeited after Final call. 400 of the forfeited shared (including all shares of Khushboo) were reissued @ ₹8 per share as fully paid up. Pass necessary journal entries in the books of Anshika Ltd. for the above transactions by opening calls in arrears and calls in advance account wherever necessary.

Posted by Mr. Rishabh 2 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

neha and preeti two partner

Posted by Gaurav Hh 2 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

X

Posted by Vikas Parashar 2 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Q.5 Y Ltd. made pro rata allotment of shares of Rs. 10 each in the ratio of 2:3. Ram paid nothing after application money of Rs. 2 per share. If 3/4th of his forfeited shares were reissued at the maximum possible discount of Rs.1320 as fully paid up. Journalize forfeiture and reissue of shares.

Posted by Paras Mal Jain 2 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Madhuri and Arsh were partners in a firm sharing profits and losses in the ratio of 3 : 1. Their Balance Sheet as at 31st March, 2019, was as follows : Liabilities Amount Assets Amount Capitals : Machinery 4,70,000 Madhuri 3,00,000 Investments 1,10,000 Arsh 2,00,000 5,00,000 Debtors 1,20,000

Posted by Kusum Singh 2 months, 4 weeks ago

CBSE > Class 12 > Accountancy

1 answers

Aashvee Kurkiya 2 years, 2 months ago

4 lc

ANSWER

12th accountancy chapter 5 madhuri harsh are partners in a firm sharing of profit and loss in the ratio 3 is to 1 their balance sheets has 31st march 2010 was as follows capitals madhuri 302005 black workmen compensation fund 600019 legs employment provident fund 11000

Posted by Kusum Singh 2 years, 2 months ago

CBSE > Class 12 > Accountancy

1 answers

Kishan Dubey 2 years, 2 months ago

Kon sa

ANSWER

Chhauhw

Posted by Vishal Mewada 2 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Maximum number of partnership Firm

Posted by Keshav Yk 2 years, 2 months ago

CBSE > Class 12 > Accountancy

4 answers

Aradhya Sahu 2 years, 2 months ago

Mininum-2 maximum-50

Hariom Pawriya 2 years, 2 months ago

According to company act maximum members 50

Kashish Raghuvanshi 2 years, 2 months ago

Maximum number of partner in the firm are50 and minimum no. Are 2

Divya Bharathi 2 years, 2 months ago

2 to 52

ANSWER

Madhuri and arsh were partners sharing profit and loss in 3:1

Posted by Shivanshi Kothari 2 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Fluctuating capital questions please explain

Posted by Harshdeep Singh 2 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

ohan and Mahesh were partners in a firm sharing profits in the ratio of 3 : 2. On 1st April, 2012 they admitted Nusrat as a partner in the firm. The Balance Sheet of Mohan and Mahesh on that date was as under: It was agreed that: (i) The value of Building and Stock be appreciated to ₹ 3,80,000 and ₹ 1.60,000 respectively. (ii) The liabilities of workmen’s compensation fund was determined at ₹ 2,30,000. (iii) Nusrat brought in her share of goodwill ₹ 1,00,000 in cash. (iv) Nusrat was to bring further cash as would make her capital equal to 20% of the combined capital of Mohan and Mahesh after above revaluation and adjustments are carried out. (v) The future profit sharing ratio will be Mohan 2/5th. Mahesh 2 ‘5th. Nusrat 1/5th. Prepare Revaluation Account, Partner’s Capital Accounts and Balance Sheet of the new firm. Also show clearly the calculation of Capital brought by Nusrat

Posted by Piyush Mandal 2 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Durga Ltd. Invited app for issuing 1,00,000

Posted by S J 2 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

How to calculate capital reserve in different situations

Posted by Lavanya M 2 years, 2 months ago

CBSE > Class 12 > Accountancy

2 answers

Suraj Sahani 2 years, 2 months ago

By Net profit Net Being

Alok Kumar Singh 2 years, 2 months ago

Partnership

ANSWER

. G, H and I were partners of a firm sharing profit in the ratio of 4:3 :3. On 31.3.2006 their Balance Sheet was as follows: Balance Sheet of G, H and I as on 31.3.2006 Liabilities Amount Rs. Assets Amount Rs. Creditors Reserve Capitals: G: 1,05,000 H: 85,000 I: 80,000 87,000 33,000 2,70,000 3,90,000 Building Machinery Stock Debtors Cash 1,70,000 1,20,000 40,000 45,000 15,000 3,90,000 H died on 30.6.2006. Under the partnership agreement the executors of a deceased partner were entitled to: (i) Amount standing to the credit of deceased partner’s Capital Account at the time of his death. (ii) Interest on capital at 12% per annum, (iii) His share of goodwill. The goodwill of the firm on H’s death was valued at Rs. 2,70,000. (iv) His share in profit from the profit of the firm from the closing of the last financial year till the date of death on the basis of last year’s profit. The profit of the firm for the year ended 31.3.2006 was Rs. 2,40,000.

Posted by Vanshika Kohli 2 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Abncr partners in a firm sharing profit in the ratio of 5:3:2 their balance sheet on 31st 3 2005 was as follows: B died on 1st April 2005, and the firm was dissolved. Assets realised only 50% of its book value. Loan to B was adjusted against his capital ...

Posted by Sakshi Singh 2 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Girija and Ganesh were partners in a firm sharing profits

Posted by Vishal Sharma 2 years, 2 months ago

CBSE > Class 12 > Accountancy

1 answers

Kiran Thakran 2 years, 2 months ago

Equal If nothing is given by Golden rules we assume it equal

ANSWER

Ganesh and girisha

Posted by Vishal Sharma 2 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

A and B are partners sharing profit and losses in the ratio of 3:2 they admit C as a partner in the form for one fourth share in profit which he takes 16th from a and 11th from B C bring 60% of a share of forms Goodwill Goodwill of the form was valued at 1 lakh past necessary journal entries to record this arrangement

Posted by Radhika Agrawal 2 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Illustration how interest on drawing will be calculated under various situations

Posted by Jashwant Yadav 2 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Ganesh Salame 2 years, 2 months ago

Gujarat

ANSWER

From the following balance sheet of DCX ltd

Posted by ᴀsᴡɪɴ ᴀ S 2 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Michael Jackson and John apartments in a functioning professor the ratio of 3:1 is to 1 on 31st March 2017 the decided to dissolved their form on that date the balance sheet was Asfalt

Posted by Minal Singla 2 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Usha and asha partners in a film sharing profit in the ratio of 2:1 their balance sheet as on 31st March as follow creditors principle generally capital Usha asha cash that lesson stock patents could be them is admitted into partnership giving 11 in the profit Neelam is to beating 20000 as her capital and her share of goodwill in care subject of following terms a good will of the film to be valued at 45000 to be reduce by 10% and process to has been made it to be recorded there was a claim against the film for damage amount it to 4000 was accepted amount return of last year but during the year half of the amount was recovered from sir that relation expenses for asset and assessment of liability is prepared by the film 1000 prepared evaluation account and the balance sheet of new

Posted by Ilma Khan 2 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Please help me with 40 transactions for my accounts project

Posted by Mahak Jain 2 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Kushal Sethi 2 years, 3 months ago

https://www.slideshare.net/dankjohn/solved-comprehensive-project-cbse-class-12-accountancy-project

ANSWER

R,s,m, are partner sharing profit in the ratio of 2/5,2/5,1/5.m decide to retire from the business and his share is taken by r and s in the ratio of 1:2.calculate the new profit sharing ratio

Posted by Khushi Thakur 2 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Kushal Sethi 2 years, 3 months ago

7:8

ANSWER

Reddy and Rao are partners in a firm

Posted by Tanisha Jain 2 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Kushal Sethi 2 years, 2 months ago

So??

ANSWER

p and q are partners sharing profits in the ratio of 5 :3 . they admit Rfor 1/4 th share and agree to share between them in the ratio of 2:1 in future.calculate new ratio

Posted by Divyanshu Kumar 2 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Kushal Sethi 2 years, 3 months ago

2:1:1

ANSWER

Given below is the balance sheet of krishna and suresh who are partner in a firm sharing profit in the ratio of 3:2

Posted by Chhavi Goyal 2 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Amit Kumar 2 years, 3 months ago

Krishna and suresh

ANSWER

Brijesh,charu and dilip

Posted by Radhika Goyal 2 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

X and y are partners in a firm sharing profits in the ratio of 4:3 on 1st April 2012 they admitted z as a new partner z brought in rs 100000 for his capital and 21000 for 1/3rd share of goodwill premium on z's admission goodwill appeared in the books of the firm at 28000

Posted by Sakshi Singh 2 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Baisnabi Chettri 2 years, 3 months ago

First we need to written off the Goodwill By X's capital account. Dr 16000 Y's capital account. Dr 12000 To Goodwill a/c. 28000(cr) (Goodwill written off) Cash/Bank a/c. Dr. 121,000 To z's capital a/c. 100000 To premium of g/w alc. 21000 (Cash and premium brought by z to business) Premium of g/w alc Dr. 21000 To X's capital a/c. 12000 To y's capital a/c. 9000

ANSWER

Rai and Reddy were

Posted by Viral Jindal 2 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

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