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Given below is the balance sheet of Krishna and Suresh who are partners in firm sharing profit in the ratio of 3:2 creditors 15000 reserve 5000 capital A/c 30000 Suresh 20000

Posted by Sahil Khan 3 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

And we wear a and b where partners in a form sharing profit in the ratio of 3 is 22 with effect from first April 2018 the angry to share profit equally for this purpose the Goodwill of the form was valued at rupees 30000 pass the necessary journal entry for the treatment of goodwill without opening Goodwill account

Posted by Khushi Kumari 3 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

March 31st ,2020 the balances in the capital accounts of Alka, Hardik and Ramneek after making adjustment for profits and drawings were rupees 9,00,000;rupees 5,00,000 and rupees 3,00,000 respectively.Subsequently it was discovered that the interest on capital and drawings has been omitted .The profit for the year ended 31st March 2020 was rupees 1,80,000.During the year Alka and Ramneek each withdrew a sum of rupees 40000.Hardik withdrew a total of rupees 60,000 in equal installments in the middle of each quarter. Interest on drawing was to be charged @ 5% p.a. and interest on capital was to be allowed @10% per annum. The profit sharing ratio was 3:1:1. Showing your working clearly ,pass the necessary rectifying entry.

Posted by Gungun Kalra 3 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Raj Gupta 3 years, 4 months ago

Answer kya hai bhai

ANSWER

Ncert unsolved ch-2

Posted by Vikas Yadav 3 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Mr. Simar and Mr. Parth are involved in a partnership business since last 8 years with 4:3 profit sharing ratio. They decided to add a new partner (Mr. Upjay Singh) it is also decided that Mr. Parth and Mr. Upjay Singh will continue with the same profit sharing ratio which is existing

Posted by Akshat Maheshwari 3 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Krishna and suresh are partners,as on 31 march ,2014

Posted by Sheniece Gama 3 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Ashish Kharwar 3 years, 4 months ago

P

ANSWER

....

Posted by Sheniece Gama 3 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Radha and raman are partners in a firm sharing profits and looses in the ratio of 5:2

Posted by Paridhi Shah 3 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Q.2.Yadu, Madhu and Vidu are partners sharing profits and losses in the ratio of 2:2:1. Their fixed capitals on April 01, 2019 were; Yadu `5,00,000, Madhu `4,00,000 and Vidhu `3,50,000. As per the partnership deed, partners are entitled to interest on capital @ 5% p.a., and Yadu has to be paid a salary of `2,000 per month while Vidu would be receiving a commission of `18,000. Net loss of the firm as per profit and loss account for the year ending March 31, 2020 amounted to `75,000. Prepare profit and loss appropriation account for the year ending March 31, 2020.

Posted by Lucky Sharma 3 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Aanshi Mittal 1 year, 11 months ago

22233

ANSWER

A,b,c are the partner with capital 800000,600000

Posted by Gorav Sehrawat 3 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Fudi

Posted by Gurjeet Singh 3 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Grija and Ganesh we're patners in a firm sharing profit ratio of 2:3 on 31st March 2017 their balance sheet was as follow

Posted by Keshav Kumar 3 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Sunil draws a bill on Anil for 7,000 at 3 months. Anil accepts the bill and returns it to Sunil. The bill is discounted by Sunil for 6,950 with his bank. On maturity, Anil finds himself unable to make payment of the bill and request Sunil to renew the bill. Sunil accepts the request and draws a new bill at one month for 7,050 including interest. Sunil deposits this new bill with the bank for collection. On the due date Anil honours the bill. Pass necessary journal entries in the books of Sunil and open Sunil account in the ledger of Anil

Posted by Kishita Thevar 3 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Ativ, Meha and Nupur were partners sharing profits and losses in the ratio of 5:3:2. On 31-3- 2016 their balance sheet was as under: Liabilities Amount Assets Amount Trade creditors Employee’s provident fund Ativ capital Meha capital Nupur capital 26,500 23,500 1,00,000 50,000 40,000 Bank Debtors Stock Fixed assets Advertisement expenditure 25,000 30,000 55,000 1,20,000 10,000 2,40,000 2,40,000 Ativ retired on 1-4-2016. For this purpose, following adjustments were agreed upon: i) Goodwill of the firm was to be valued at 2 years purchase of the average profit of 3 completed year preceding the date of retirement. The profits for previous years were: 2013-14 55,000; 2014-15 65,000; 2015-16 60,000 ii) Fixed assets were to be increased by 25,000 iii) Stock was overvalued by 5,000 iv) 20,000 were immediately paid to Ativ and the balance was transferred to his loan account. Prepare revaluation account, partners capital account and the balance sheet of the

Posted by Ansh Jaiswal 1 year, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

X, Y and Z were partners sharing profits and losses in the ratio of 2:2:1.Z died on 31st march 2018. Profits and sales for the calendar year 2017 were ₹ 200000 and ₹ 2000000 respectively. Sales during January to march 2018 were ₹ 150000. You are required to calculate share of profit of Z upto the date of death.

Posted by Md Mostakim 3 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Mohan and Sohan are partners sharing profit and losses in the ratio of 9:6.They admit Gopal with 1/8 share in the profits.The new profit sharing ratio between Mohan and Sohan is agreed to be 4:3. Calculate sacrificing ratio

Posted by Kirti Goel 3 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Kanika Jain 3 years, 4 months ago

Ans . 4:1

ANSWER

0.27. Calculate interest on A's drawings: (I) If he has withdrawn 60,000 on 1st October, 2015 and rate of interest on drawings is 8% per annum. (ii) If he has withdrawn 60,000 on 1st October, 2015 and rate of interest on drawings is 8%.

Posted by Sauransh Srivastava 3 years, 4 months ago

CBSE > Class 12 > Accountancy

2 answers

Kanika Jain 3 years, 4 months ago

A) 2400 B) 4800

Sambhav Jain 3 years, 4 months ago

Ans.2400

ANSWER

X y and z are partner in ratio of 1.2.3 x salary 10000 per month and y salry 15000 per quarter was omited profit distribution pass necesssry rectifying entry

Posted by Sauransh Srivastava 3 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Kanika Jain 3 years, 4 months ago

Z capital A/C Dr . 90,000 To X capital A/c 90,000

ANSWER

Furniture is to be depriciated at 10% per annum, when purchase of furniture is 5000 in I&E A/C

Posted by Palash Sharma 3 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Bholu Sharma 3 years, 4 months ago

500

ANSWER

Q14 of dissolution chapter scanner

Posted by Muskan Garg 3 years, 4 months ago

CBSE > Class 12 > Accountancy

2 answers

Garima Janoti 3 years, 4 months ago

Ok

Garima Janoti 3 years, 4 months ago

Answer is given there just through you will understand

ANSWER

Scanner questions of dissolution chapter

Posted by Muskan Garg 3 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

The following is the Receipts & Payments Account of Harry Potter Club for the year ended March 31, 2021: Receipts Amount (3) Payments Amount (2) To Balance b/d 2,82,000 By Salaries 2,80,000 By Stationery 1,66,000 1,32,000 To Subscriptions To Tournament Fund 1,48,000 To Interest (investments) 8,000 To Donations 2,64,000 By Rent 1,65,000 By Telephone Expenses 2.12,000 By Sports Materials and Expenses 3,47,000 By Investment @ 20% p.a. By Miscellaneous Expenses By Concert Expenses 1,78,000 To Sale-concert tickets 1,24,000 1,58,000 By Balance c/d 1,36,000 15,50,000 15,50,000 sin The following additional information is provided: (i) Subscriptions include 52,000 for 2016-17 and 28,000 for 2018-19. (ii) Stock of sports material at the beginning and at the end of the year was 22,000 and 40,000 respectively. (iii) Rent includes 14,000 paid for March, 2017. Rent of 24,000 is outstanding for March, 2018. (iv) Telephone expenses included 2,000 paid in advance for next year. (v) The value of investments on 31 March, 2017 was 10,00,000 and the club made similar additional investments during the year on 1st October, 2017. You are required to prepare the Income & Expenditure Account of the club for the year ended March 31, 2018.

Posted by Sahij Sidhu 3 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Yadu and madhu and vidu are partners

Posted by Rajitha Mylagani 3 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Akhil and bimal are partners sharing profits in the ratio of 3:2

Posted by Niyatee Chunarkar 3 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Dinesh Meena 3 years, 4 months ago

Good

ANSWER

Arvind and Anand are partners sharing profits and losses in the ratio 8:3:1. Balances in their capital account on April 01, 2019 were, Arvind- Rs.4,40,000 and Anand Rs.2,60,000. As per their agreement, partners were entitled to interest on capital@ 5% p.a. and interest on drawings was to be charged @ 6% p.a. Aravind was allowed an annual salary of Rs. 35000/- for the additional responsibilities taken up by him. Partners drawings for the year were, Aravind Rs. 40,000 and Anand Rs. 28,000. Profit and loss account of the firm for the year ending March 31, 2020 showed a Net Loss of Rs. 32,400. Prepare Profit and Loss Appropriation Account.

Posted by Riddhi Paruparla 3 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Atul and bipul had a firm

Posted by Sneha Dutta 3 years, 5 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

x, y and z are partners sharing P & L in ratio of 5:3; 2, decide to share future P & L in the ratio of 2: 3:5 with effect fam 1" April 2002. an extract of their Balance Sheet as on 31-3-2002 is as follows: Liabilities Rs Assets Rs Investment fluctuation Reserve 1500 Investment 20000 (at cost ) Show the accounting treatment in each of the following cases: (a) If no other information is given. (b) If market value of investment is Rs 20000. (c) If market value of investment is Rs 19000.if market value of investment is Rs 18000. (d) If market value of investment is Rs 20500.

Posted by V...... K...... 3 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Rajat Gupta 3 years, 4 months ago

Z's Capital a/c..............Dr. 70200 To X's Capital a/c 70200 (Being adjustment entry passed) Working notes: 1. Amount to be distributed = general reserve + P and L a/c - advertisement suspense = 6000 +240000 -12000 = 234000 2. Calculation of sacrifice and gain X: 2/10-5/10 = (3/10) sacrifice Z: 5/10 - 2/10 = 3/10 gain

ANSWER

Calculate the interest on drawings of Mr.silver@10% p.a. for the year ended 31st December.2019'if he withdrew 1200 p.m.in the beginning of every month

Posted by Jàñû Øbbå 3 years, 5 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Sebastian, George and Suresh , were partners sharing profits in the ratio of 4:3:1. Sebastian retires and sells his share of profits to George and Suresh for Rs.36,000 (Rs.24000 being paid By George and Rs.12,000 by Suresh). The profit for the year after the retirement of Sebastian was Rs.1,20,000. Pass necessary Journal entries for the above transactions, including the distribution of profit after retirement.

Posted by Pari Agrawal 3 years, 5 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Hari and Ravi are partners sharing profit and losses in the ratio of 5 :3. On 31.03.2013 their Balance Sheet showed a General Reserve of Rs.80,000. On that date they decided to admit Mohan as a new partner . the new profit sharing ratio between Hari, Ravi and Mohan will be 5:3:2.Pass necessary journal entries in the books under the following circumstances: A)When they want to transfer General reserve in their Capital account B)When they do not want to transfer General Reserve in their Capital Accounts and prefer to pass a journal entry.

Posted by Shiv Sankar Shil 3 years, 5 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

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