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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...... 2 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Rajat Gupta 2 years, 6 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

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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 2 years, 6 months ago

CBSE > Class 12 > Accountancy

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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 2 years, 6 months ago

CBSE > Class 12 > Accountancy

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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 2 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

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Posted by Monu Yadav 2 years, 6 months ago

CBSE > Class 12 > Accountancy

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ANSWER

CONFEDERATION OF KERALA SAHODAYA COMPLEXES COMMON MODEL TERM II EXAMINATION 2021-22 ACCOUNTANCY (055)

Posted by Dinesh Prabhuram 2 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Can we do computerised accounting in term 2 if we have done financial statement in term 1

Posted by Veenu Kodan 2 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Divyanshi Kesherwani 2 years, 6 months ago

ask it to your school accounts teacher

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From the following item of Receipts & Payments A/c. of Young Ladies Club, prepare an Income and Expenditure Account for the year ended 31-3-2010. Salaries paid 50,000 Lighting and Heating 5,000 Printing and Stationery (including Rs. 500 for the previous year) 3,500 Subscriptions received (including Rs. 2,000 received in advance and Rs. 5,000 for the previous year) 40,000 Net proceeds of Refreshment Room 45,000 Miscellaneous Expenses 16,000 Interest paid on loan for halfyear 1,200 Rent and Rates (including Rs. 1,000 pre-paid) 7,500 Lockers Rent received 4,500 Additional Information: Subscriptions in arrears on 31-3-2010 were Rs. 8,000 and Half year's interest on loan was also outstanding.

Posted by Vanshika Verma 2 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

08 Divya Dubey 2 years, 6 months ago

Exp:- to salaries - 50000 To lighting & heating - 5000 To printing and stationary (3500-500) -3000 To miscellaneous exp. - 16000 To int on loan (1200+1200) - 2400 To rent and taxes (7500- advance 10000) - 6500 To surplus -7600 Total 90500 Income :- By subscription 40000-2000(previous yr) - 5000 (advance ) + o/s at end 8000 -41000 By newspaper -45000 By locker rent - 4500 Total - 90500

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P,Q and R are partners sharing profit in the ratio of 2:1:1.their capital as on 1april 2021

Posted by Heet Modi 2 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Megha Chouhan 2 years, 6 months ago

Can you give full question??

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ANSWER

From the following receipts and payments A/c of Bikaner sports club for the year ended 31st December,2015 and the additional information.Prepare income and expenditure A/c for the year ended 31st December,2015 and a balance sheet as on that date The club has 250 members each paying an annual subscription of rupees 100.Rupees 500 is still in arrears for subscription for 2014.During the year 2014 ,10 members had paid their subscription for the year 2015 as well. Salaries paid included rupees 1000 for the year 2014 and rupees 1500 for the year 2016. Outstanding salaries for the year 2015 amounted to rupees 2000.Interest for three months at 10% per annum has accrued general investments On 1st January,2015 the club owned land and building valued at rupees 200000 and furniture valued at rupees 11000.On that date it has sports fund rupees 100000.Sports fund investments rupees 100000

Posted by Manisha Devi 2 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

A and b are partners in a firm sharing profits in the ratio of 3:2. They had advanced to the firm ₹30000 as a loan in their profit sharing ratio on 1st October 2018.the partnership deed is silent on interest on loans from partners. Compare interest payable by the firm to the partners,assuming the firm closes its books every year on 31st March.

Posted by Sweety Agrawal 2 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

pass the journal entries debtor falling due after two momth realised at the time of dissolution discount lf 6%

Posted by Manisha Patel 2 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Akhil and bimal are partners sharing profits in the ratio of 3:2 akhil gave loan to

Posted by Sneha Jain 2 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Following information of Malayalee Club is given to you: Particulars. ₹ Subscription in arrears on 31st March, 2020 Subscription received in advance on 31/3/2020 Total subscription received during the year ending 31/3/21(including 1,80,000 for 2019-20 and 2,50,000 for 2021-22) Subscription outstanding on 31/3/2021 2,50,000 1,50,000 35,50,000 5,50,000 (a) Calculate the amount of subscription outstanding for the year 2020-21. (b) What is the amount of subscription received on 2020-21 for the year 2020-21? (c) Calculate the amount of subscription to be credited to Income & Expenditure a/c for the year ending 31/3/21.

Posted by Divya Panchal 2 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

I want sample papers 🙁

Posted by Salini Seth 2 years, 6 months ago

CBSE > Class 12 > Accountancy

3 answers

Aseem Mahajan 2 years, 6 months ago

You're welcomed.

1Thank You

Salini Seth 2 years, 6 months ago

Thank u so much buddy..

2Thank You

Aseem Mahajan 2 years, 6 months ago

<a href="https://cbseacademic.nic.in/SQP_CLASSXII_2021-22.html">Check here

1Thank You

ANSWER

X and y is partner

Posted by Manish Kumar 2 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Shradha Sharma 2 years, 6 months ago

Ts grewal

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20 transactions with GST and story of a business

Posted by Anshul Bhama 2 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Mita and Usha are partners in a firm sharing profit in ratio of 2:3.their capital account as on 1st January,2015 showed balances of Rs.140000 and Rs.120000 respectively.the drawings of Mita and Usha during the year 2015-16 were Rs.32000 and Rs.24000 respectively.both the amounts were withdrawn on 1st, January,2016.it was subsequently found that the following items had been omitted while preparing the final accounts for the year ended 31st March,2016: A- interest on capital @6%p.a. B- interest on drawings @6%p.a. C- Mita was entitled to a commission of Rs.8000 for the whole year. Showing your working clearly,pass a rectifying entry in the books of the firm.

Posted by Shreya Tiwari 2 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Mohini Sharma 2 years, 6 months ago

140000 ×6.100

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ANSWER

Ram Mohan and Sohan and the partner sharing profit and loss in the ratio 4:3:1 after all adjustment on Ram retirement with respect to general reserve goodwill and revaluation the balance of their capital accounts are rupees 110000,100000,50000 it was decided that the amount payable to Ram will be the amount brought in the Mohan and Sohan pass necessary journal entry

Posted by Nishu Agrawal 2 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Dinesh Meena 2 years, 6 months ago

Mast baby

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ANSWER

adil cris and Bhavya are partners

Posted by Aman 04 2 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

X and Y share profits and losses in the ratio of 3:2 . They admit Z as a partner who pays rs. 72000 as premium for goodwill for 1/4th share in the future profits of the firm . Pass journal entries appropriating the premium money and show the new profit sharing ratio in each of the following cases:- (i) if he acquires his share of profit in the original ratio of existing partners. (ii) if he acquires his share of profit in equal proportions form the existing partners. (iii) if he acquires his share in the ratio of 2:3 from the existing partners. (iv) if he acquire les his share of profits as 7/32th from X and 1/32th from Y .

Posted by Satyender Sharma 2 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

How to satisfy

Posted by Sidharth Jaiswal 2 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

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Question 3

Posted by Aditya Verma Manav 2 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

M , N and O are partners sharing profits in the ratio of 6:5:4 respectively. O retired and surrendered 1/4 th 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 Tanya Singh 2 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Shagoon ltd.issued 40,000 shares ₹10 each,₹12 each payable as under. On application-2,on allotment-5(including premium), on 1st call-2,on 2nd call-3 Applications received-60,000. Allotment on pro rata basis to appliacnts for 48,000 remaining application is being refused. Money overpaid on application was applied towards amount due on allotment . Amrit,to whom 1,600 shares were alloted,fail to pay allotment money. Barun, to whom 2,000 shares were alloted , fail to pay 2 calls. These shares were forfeited after 2nd and final call. Pass journal entries in books of shagoon ltd.

Posted by Ramandeep Kaur Bhullar 2 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Neon Ltd issued 20000 8%debenture of 200 each at a discount reedsmbke after 5 years

Posted by Aditya Nayyar 2 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

subscription and treatment in B/S

Posted by Official King 8 2 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Accounting for partnership firms - fundamental question12

Posted by Sahil Threja 2 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Active blunt and circle

Posted by Isha Bhatt 2 years, 7 months ago

CBSE > Class 12 > Accountancy

2 answers

Naitik Gupta 2 years, 6 months ago

Retirement refers to the time of life when one chooses to permanently leave the workforce behind. The traditional retirement age is 65 in the United States and most other developed countries, many of which have some kind of national pension or benefits system in place to supplement retirees' incomes.

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Yashi Sharma 2 years, 7 months ago

What is retirement

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ANSWER

Aseeem and Nihar

Posted by Vinod Kumar 2 years, 7 months ago

CBSE > Class 12 > Accountancy