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x and y are partners with capitals of rs. 60,000 and rs. 40,000 respectively.

Posted by Mohit Garg 3 years, 3 months ago

CBSE > Class 12 > Accountancy

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How is retiring partner amount calculated if his amount is credited to his loan account

Posted by Sonam Sharma 3 years, 3 months ago

CBSE > Class 12 > Accountancy

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How is capital distributed in partners in balance sheet

Posted by Sonam Sharma 3 years, 3 months ago

CBSE > Class 12 > Accountancy

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Anant basant hemant

Posted by Kuber Soni 3 years, 3 months ago

CBSE > Class 12 > Accountancy

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Given below is the Balance Sheet of Krishna and Suresh who are partners in a firm sharing profits in the ratio of 3:2. Liabilities Rs Assets Rs Creditors 15,000 Plant & Machinery 30,000 Reserves 5,000 Patents 5,000 Capital Accounts Furniture 3,000 Krishna 30,000 Stock 16,000 Suresh 20,000 50,000 Debtors 15,000 Cash 1,000 70,000 70,000 On that date Mohan is admitted as a partner for 1/5th share on the following terms: (a)He is to contribute Rs.14,000 as his share of capital which includes his share of premium for goodwill. (b)Goodwill is valued at 2 years' purchase the average profits of the last 4years, which were Rs.10,000; Rs.9,000, Rs.8,000 and Rs.13,000 respectively. (c)Plant to be written down to Rs.25,000 and patents written up by Rs.8,000. (d)Unrecorded investment Rs.7,000 Prepare Revaluation Account, Partners' Capital Accounts and the Balance Sheet of the new firm

Posted by Arnav Roy 3 years, 3 months ago

CBSE > Class 12 > Accountancy

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Why we don't show Rent and Interest on loan in partenr capital account

Posted by Vedika Puri 3 years, 3 months ago

CBSE > Class 12 > Accountancy

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Pure ratio

Posted by Amritleen Kaur 3 years, 3 months ago

CBSE > Class 12 > Accountancy

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Npo kya h

Posted by Yogita Sharma 3 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Placid Girl 3 years, 3 months ago

Not for profit organization

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And Neha are partners in a form sharing profit and losses equally the decided to share future profits in the ratio of 2:1 on the day of the entry invitations of the decision the profit and loss is account showed a developed balance of the rupees 18000 record the necessary journal entry for the distribution of the balance in the profit and loss account and general reserve before the changes in the profit sharing ratio

Posted by Akshita Shukla 3 years, 3 months ago

CBSE > Class 12 > Accountancy

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Notes on chapter partnership firm

Posted by Ashika Mishra 3 years, 3 months ago

CBSE > Class 12 > Accountancy

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Arun and Varun are partners in a firm sharing profits and loss equally . Their capitals on 1st April 2015 were 4,80,000 and 5,40,000. On 1st Oct 2015 they decided that total capital of the firm should be rupees 10,00,000 to be contributed equally by both of them. Interest on capital is allowed to the partners @ of 6% per annum. Compute interest on capital for the year ending 31st March 2016.

Posted by Varsha Motiyani 3 years, 3 months ago

CBSE > Class 12 > Accountancy

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X and Y are partners in a firm sharing profits and losses in the ratio 3:2 l. With effect from 1st April 2020, they decided to share future profits equally. On the

Posted by Rakshana M 3 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Inderpreet Singh 3 years, 3 months ago

X= 3/5-1/2 =6-5/10 =1/10 Y = 2/5-1/2= 4-5/10 = -1/10 So, X is sacrificing and Y is gaining

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Competent Ltd issue a prospect inviting application for 50000 equity shares of 10 each table 5 as per application including to as premium for as per allotment and the balance to word first and final call application were received of for 65000 shares application money received on 5000 shares were refund with letter of regret and allotment were made on Pro database to this applicants 60000 shares money over paid on application including premium suggested on accounts of some Dio on allotment Mr Sharma to whom 7 allotted fail to pay the allotment money and his shares were forfeited by the direction on his substitute trailer to pay the coal money all the all features were subsequently sold to the Mr Jain created by fully faded of 9% you are required to the set of the general entries and relevant and a gas book

Posted by Manish Kumar 3 years, 3 months ago

CBSE > Class 12 > Accountancy

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Parul and Aruna, school time friends, met at the school reunion. Parul had become a fashion designer and had worked for a few years with a leading fashion designer. Aruna, after completing her MBA in Markering, had worked with a leading retail store. At the meeting they had a brief discussion about setting up their own garment stores for teens and agreed to meet later and discuss the business prospects. They met again to discuss the possibility of starting the business and after discussion they decided to set up ready-made garments stores exclusively for teenagers with a high disposable family incomes and who follow latest fashion trends. They decided to open their first store on 15th April,2020. They decided to produce and sell clothes which were not expensive as it will give the customer value for money and, in the process, their turnover will increase due to which the profit will also

Posted by Shreya Rai 3 years, 3 months ago

CBSE > Class 12 > Accountancy

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Yadu, Madhu and vidhu are partners in a firm sharing profits and losses in the ratio of 2:2:1. Their fixed capitals on April 01 2021 were

Posted by Ishika Mehta 3 years, 4 months ago

CBSE > Class 12 > Accountancy

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A and B are partners sharing profits in the ratio of 3:2 with capitals of rupees 50000 and 30000 .interset on capital aggred at a rate of 6% p.a.

Posted by Kajal Saraw 3 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Vedika Puri 3 years, 3 months ago

50000×6÷100×6÷12 = 1500 30000×6÷100×6÷12 = 900

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How I can download the vedios (lectures )of all accounts

Posted by Kamaljeet Kaur 3 years, 4 months ago

CBSE > Class 12 > Accountancy

2 answers

Kamaljeet Kaur 3 years, 4 months ago

But no option of download is available.How I downloads

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Vishal Singh Rajput 3 years, 4 months ago

Yes

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M, N and O are partners sharing profits in the ratio of 6:5:4 respectively. O retired and surrendered 1/4th of his share in favour of M and remaining in favour of N. Calculate the new profit sharing ratio of M and N.

Posted by Saransh Joshi 3 years, 4 months ago

CBSE > Class 12 > Accountancy

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ANSWER

pass necessary journal entries and prepare 9% debenture account for the issue of 7,500, 9% debenture of ₹50 each at discount of 6%, redeemable at a premium of 10%

Posted by Tanya Dewangan 3 years, 4 months ago

CBSE > Class 12 > Accountancy

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X and y are partners with capital of Rs200000 and Rs 100000 respectively. They agree to share profit and loss in ratio of 2:1 show how the transaction will be recorded in capital account the partner assuming that the capital are fixed. The book are closed on March 31 every year

Posted by Rishika. K Rishi 3 years, 4 months ago

CBSE > Class 12 > Accountancy

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Sharma and Verma were partners in a firm sharing profits in the ratio of 4: 1. Their capitals on 01.04 2005 were Sharma 5,00,000 and Verma 1,00,000. The partnership deed provided that Sharma will get a commission of 10% on the profit after allowing a salary 5,000 per month to Verma. The profit of the firm for the year ended 31st March, 2007 was 2,80,000. Prepare Profit and Loss Appropriation Account of Sharma and Verma for the

Posted by Priyanshi Jain 3 years, 4 months ago

CBSE > Class 12 > Accountancy

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Yadu madhu and vidhu are partners sharing profits in the ratio 2:2:1

Posted by Neeti Yakhmi 3 years, 4 months ago

CBSE > Class 12 > Accountancy

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Solve 40 questions based on fundamental of partnership & change in P.S.R

Posted by Vivek Upadhyay 3 years, 4 months ago

CBSE > Class 12 > Accountancy

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1. SELECT 25 JOURNAL ENTRIES 2. PREPARE LEDGER 3.PREPARE TRIAL BALANCE 4. USE AT LEAST 6 ADJUSTMENTS USING GST CALCULATIONS 5.PREPARE FINANCIAL STATEMENTS(TRADING A/C, PROFIT/ LOSS ACCOUNT, BALANce

Posted by Mahesh Sonar 3 years, 4 months ago

CBSE > Class 12 > Accountancy

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myCBSEguide No products in the cart. Homework Help CBSE Class 12 Accountancy Active blunt end circle started a … CBSE, JEE, NEET, NDA Question Bank, Mock Tests, Exam Papers NCERT Solutions, Sample Papers, Notes, Videos Install Now Active blunt end circle started a business on 1st April 2017 with capital of 450000 6 lakh and 350000 according to partnership agreement: (1) profit earned in any year will be distributed as under: Up to 270000-equally Excess over 270000-one-half to active,one sixth to blunt and one third to circle (2)provide interest on capital and drawing @6%p.a. (3)circle is entitled to get a monthly salary of 4000 and Bullet is entitled to get a monthly salary of 6000 in addition to above circle and blunt are entitled to get a commission of 5% each on net of profit after taking into consideration the interest and all commissions Drawing of partners during the year were: Active withdrew regularly 5000 at the beginning of every month Blunt withdrew regularly 7000 at end of every month Circle withdrew 80000 during the year Profit for the year 593120 prepare partners current account

Posted by Simra Khan 3 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Och Oihg 3 years, 4 months ago

What is a company

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During the year Mahadev's drawings were 30,000. Profits during 2019-20 is `10,00,000. Profits were distributed without providing interest on partners' capitals. The interest on capitals @ 5% p.a for the year ending (Choose the correct alternative) 1 mark March 31, 2020 will be: (a) `20,000 and 31,500 respectively (b) 50,000 each (c) `25,000 each (d) 27,000 and `18,000 respectively

Posted by Chiranjiv Satija 3 years, 4 months ago

CBSE > Class 12 > Accountancy

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G,H and R were partners in a firm sharing profits

Posted by Yari Singpho 3 years, 4 months ago

CBSE > Class 12 > Accountancy

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DK, EK and FK were partners in a firm sharing profits in the ratio of 7:4:9. Their fixed capitals were ; DK Rs.2,00,000; EK Rs.75,000 and FK Rs.3,50,000. Their Partnership deed provided for the following: (i) Interest on capital @ 9% per annum and Interest on drawings @ 6% per annum. (ii) Salary of Rs.6,000 per month to EK. DK Withdrew Rs.25,000; EK withdrew Rs.15,000 during the year and interest on FK's Drawings was Rs.1,250 on average basis. During the year ended 31st December, 2013, the firm earned a profit of Rs.1,70,000. Prepare P/L Appropriation Account.

Posted by Snigdha Rani Samal 3 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

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Akhil and Bimal are partners

Posted by Swaraj Singh 3 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Manishka Gupta 3 years, 4 months ago

Yesss

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Akhil

Posted by Swaraj Singh 3 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

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