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Ashish and Kanav were partners share profit and losses in ratio 3:2 realisation account

Posted by Chetna Surana 4 years ago

CBSE > Class 12 > Accountancy

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What is financial year

Posted by Srashti Agarwal 4 years ago

CBSE > Class 12 > Accountancy

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Problem solve

Posted by Ujjawal Singh 4 years ago

CBSE > Class 12 > Accountancy

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plant and machinery. Illustration 3. X purchased a second-hand machinery on 1-2-2000 for Rs. 50,000 paid Rs. 11,000 for its overhauling and Rs. 5,000 for its installation which was completed by 31-3-2000. The company provides depreciation on its machinery at 15% per annum on diminishing balance method from the date it is put to use and closes its books on December 31 every year. On 1-10-2001, a repair work was carried out on the machine and Rs. 5,000 were paid for the same. The machine was sold on 31-10-2002 for a sum of Rs. 11,000 and an amount of Rs. 1,000 was paid as dismantling charges. Prepare Machinery Account from 2000 to 2002.

Posted by Safeera Sadaf 4 years ago

CBSE > Class 12 > Accountancy

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Q1. Pass the necessary journal entries for the following transactions on the dissolution of the partnership firm of Tony and Rony after the various assets (other than cash) and external liabilities have been transferred to Realisation Account: (i) An unrecorded asset of Rs 2,000 and cash Rs 3,000 were paid for liability of Rs 6,000 in full settlement. (ii) 100 shares of Rs 10 each have been taken over by partners at market value of Rs 20 per share in their profit sharing ratio, which is 3 : 2. (iii) Stock of Rs 30,000 was taken over by a creditor of Rs 40,000 at a discount of 30% in full settlement. (iv) Expenses of realisation Rs 4,000 were to be borne by Rony. Rony used the firm’s cash for paying these expenses.

Posted by Mohit Meena 4 years ago

CBSE > Class 12 > Accountancy

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Hindustan Unilever limited project cash flow

Posted by Khushi Singh 4 years ago

CBSE > Class 12 > Accountancy

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partnership and accountany

Posted by Yasmeen Khan 4 years ago

CBSE > Class 12 > Accountancy

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What are the major right enjoyed by the new partner??

Posted by Neelam Baghel 4 years ago

CBSE > Class 12 > Accountancy

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Jindal company purchased a machine from High Life Machine Limited for RS.3,80,000.As per purchase agreement,RS.20,000 were paid in cash and balance by issue of shares of RS.100 each.What will be the entries passed if the shares are issued: (a).at par (b).at 20% premium

Posted by Prakatheesh Sridhar 4 years ago

CBSE > Class 12 > Accountancy

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Modi shah and Dharma are partners of a firm doing works of constructions and maintaining equality in the different societies of India. They shared profits in the ratio of 1:2:2 from last 6 years. On the 31st may,2019, dharma died and his share in taken by

Posted by Shristi Kumari 4 years ago

CBSE > Class 12 > Accountancy

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Scanner from class 12 ts Grewal solution question 14 2021-2022

Posted by Kajal Singh 4 years ago

CBSE > Class 12 > Accountancy

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32. Cash flow from the operating activities of Pinnacle Ltd. for the year ended 31st March, 2019 was 28,000. The Balance Sheet along with notes to accounts of Pinnacle Ltd. as at 31st March, 2019 is given below: Pinnacle Ltd. Balance Sheet as at 31st March, Note No. 31.3.2019 ₹ 31.3.2018 Particulars ₹ Equity and Liabilities: Shareholders Funds: 1 (a) Share Capital 9,00,000 5,00,000 (b) Reserve and Surplus 1 90,000 1,10,000 Non-Current Liabilities: 2 Long-term Borrowings 2 3,00,000 2,00,000 Current Liabilities: 3 Trade Payables 60,000 80,000 Total 13,50,000 8,90,000 II Assets: Non-Current Assets: Fixed Assets: (i) Tangible Assets (ii) Intangible Assets 3 7,46,000 5,24,000 4 36,000 76,000 Current Assets: 2 (a) Current Investments 1,30,000 20,000 (b) 2,00,000 1,300,000 Inventories (c) Cash and Cash Equivalents 2,28,000 1,40,000 Total 13,50,000 8,90,000 You are given the following additional information: i. A machinery of the book value of *90,000 (depreciation provided thereon was 23,000), was sold at a profit of 12,000. ii. 9% debentures were issued on 1st April, 2018. Prepare the Cash Flow Statement. Prepare the Cash Flow Statement.

Posted by Samiksha Gambhir 3 years ago

CBSE > Class 12 > Accountancy

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ILLUSTRATION 7.10 Mr. * purchase and S DoN for its installation Which-Wal;.2009.p. 750.000, paid 7 1,000 for its overhauling and & 5,000 for its installation which was completey by 3 1st March, 2009. The company provides deptaciation on its machinery at 15% on diminishing balance method from the date it was put to use and closes its books on, 31st December every year. On Ist October, 2010, a repair work was carried out on the machine and & 5,000 were paid for the same. The machine was sold on 31st October, 2011 for a sum of R 11,000 and an amount of & 1,000 was paid as dismantling charges? Prepare machinery account from 2009 to 2011

Posted by Aafreen Lone 4 years ago

CBSE > Class 12 > Accountancy

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Class 12 ch 8 que 5

Posted by Roshan Bhatt 4 years ago

CBSE > Class 12 > Accountancy

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10. Following information is provided by Vinod Welfare Club on 31^ ,+1 March 2021: Receipts and Payments Account (Extract) Receipts Amount Payments Amount 201 * 20 Subscriptions: 7.500 2020-21 2.50.000 2021-22 6.000 2.63.500 Subscription received in advance on 31.3.2020 7.000 Subscription in Arrears on 31.3.2020 12.500 Total subscription in arrears on 31.3.2021 30.000 Calculate the amount of subscription to be shown in income and expenditure account and show the relevant data in the Balance Sheet of the year 2020 and 2021.

Posted by Saneel Negi 4 years ago

CBSE > Class 12 > Accountancy

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P and Q share profits and losses in 5: 3. What Journal entries would be passed for the following transactions on the dissolution of their firm, after various assets (other than cash) and third-party liabilities have been transferred to Realisation Account? 5m A. Profit and Loss Account (Dr. Balance) appeared in the books at ₹ 30,000. B. P was asked to look into the dissolution of the firm for which he was allowed a commission of 2,500. C. Q took over part of the stock at 3 6,400 (being 20% less than the book value). D. An unrecorded liability amounting to 10,000 was settled at * 8,000. E. Motor Car of the book value of ₹ 80,000 taken over by Creditors of the book value

Posted by Samiksha Gambhir 4 years ago

CBSE > Class 12 > Accountancy

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company issued for public subscription 50,000 equity shares of rs. 10 each at a premium of rs.2 per share, payable as under. ---on application - rs.2 per share ---on allotment - rs.5 per share ---on first call - rs.2 per share ---on final call - rs.3 per share applications were received for 75,000 equity shares. the shares were allotted on pro rata basis to the applicants for 60,000 shares, the remaining applications being rejected. money overpaid on applications was utilised towards sum due on allotment a, to whom 2,000 shares were allotted, failed to pay allotment and calls money and b, to whom 2,500 shares were allotted, failed to pay the two calls. these shares were, subsequently, forfeited after the final call was math. all the forfeited shares were reissued to x as fully paid-up @rs.8 per share.

Posted by Tikeshwar Patel 2 years, 6 months ago

CBSE > Class 12 > Accountancy

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Balance me advertisements suspense account should be divided in old partner in old ratio in retirement case

Posted by Radha Sharma 4 years ago

CBSE > Class 12 > Accountancy

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Pass the necessary journal entries for the following transactions on the dissolution of the partnership firm of Tony and Rony after the various assets (other than cash) and external liabilities have been transferred to Realisation Account. (4) (I) An unrecorded asset of Rs 2,000 and cash Rs 3,000 were paid for liability of Rs 6,000 in full settlement. (II) 100 shares of Rs 10 each have been taken over by partners at market value of Rs 20 per share in their profit sharing ratio, which is 3:2. (III) Stock of Rs 30,000 was taken over by a creditor of Rs. 40,000 at a discount of 30% in full settlement. (IV) Expenses of realization Rs. 4000 were to be borne by Rony. Rony used the firm,s cash for paying

Posted by Harsh Motghare 4 years ago

CBSE > Class 12 > Accountancy

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a,b and c are partners sharing in 3:2:1. their balance sheet as under

Posted by Vaishali Sharma 4 years ago

CBSE > Class 12 > Accountancy

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On 1st April, 2018 R.J. Ltd. issued Rs 10,00,000 9% debentures of Rs 100 each at a discount of 10% . These debentures were redeemable at a premium of 5% after four years. Pass necessary journal entries and prepare 8% Debenture Account and loss on issue of Debentures A/c.

Posted by Himanshi Sethi 4 years ago

CBSE > Class 12 > Accountancy

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G, H and I were partners of a firm sharing profit in the ratio of 4:3:3. On 31.3.2018 their balance sheet was as follows: 4 Balance Sheet of G, H and I as on 31.3.2018 Liabilities Amount Assets Amount Creditors Reserve Capital: ` 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 30.6.2018. 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 `2,70,000; and (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 31.3.2016 was `2,40,000. Prepare H’s Capit

Posted by Anjali Sharma 4 years ago

CBSE > Class 12 > Accountancy

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Mr. Tushar decided to start a computer business. For this purpose he built the first floor of his house ata cost of T2,00,000 and invested a further sum of 3,50,000 in this business. He wanted to start with 12 computers costing R40,000 each. He approached ICIC Bank and secured a loan to the extent of 75% of the cost of computers. lt was agreed that the loan will be repaid in four annual instalments as follows 90,000+ T36,000 for interest T90,000+F27,000 for interest 90,000+T18,000 for interest 790,000+ 9,000 for interest At the end of First Year At the end of Second Year At the end of Third Year At the end of Fourth Year He started business on 1st April, 2016. On the same date he deposited R3,30,000 in the Bank. He purchased Computers and paid 25% of the value of computers from his bank and 73,60,000 out of bank loan availed. He deposited F10,000 for the electric connection with the Electricity Board and also deposited R1,50,000 with the VSNL for internet and telephone connection.

Posted by Devanshh K. 4 years ago

CBSE > Class 12 > Accountancy

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ANSWER

Amar, Ram, Mohan and Sohan were partners in a firm sharing profits in the ratio of 2:2:2:1. On 31st January, 2018, Sohan retired. On Sohan’s retirement the Goodwill of the firm was valued at Rs. 70,000. The New Profit sharing ratio among Amar, Ram, Mohan and Mohan was agreed as 5:1:1. Showing your working notes clearly, pass necessary Journal entry for the treatment of Goodwill in the books of firm on Sohan’s retirement.

Posted by Vikash Prasad 4 years ago

CBSE > Class 12 > Accountancy

1 answers

Rishita Rawat 4 years ago

3Thank You

ANSWER

A company issued for public subscription 50000 equity shares rs10 each @premium of rs.2 per share

Posted by Bhawna Thakur 4 years ago

CBSE > Class 12 > Accountancy

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Ts grewal solution chapter 7 death of a partner 2020-2021

Posted by Anita Chaudhary 4 years, 1 month ago

CBSE > Class 12 > Accountancy

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P,Q,R are partners sharing profits and losses in the ratio 2:1:1.They decide to dissolve their firm on 31-03-2018,the date on which their Balance Sheet stands under:

Posted by Sini Samuel 1 year, 5 months ago

CBSE > Class 12 > Accountancy

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ANSWER

Following information has been provided by M/s Achyut Health Care. You are required to calculate the amount of medicines consumed during the year 2020-21: Particulars Amount (₹) Stock of medicines as on April 1, 2020 Creditors for medicines as on April 1,2020 Stock of medicines as on March 31,2021 Creditors for medicines as on March31, 2021 Cash purchases of medicines during the year 2020-21 Credit purchases of medicines duringthe year 2020-21 15,00,000 3,50,000 10,00,000 4,20,000 2,00,000 6,00,000 (

Posted by Vikas Nagal 4 years, 1 month ago

CBSE > Class 12 > Accountancy

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Rohit & Suresh are in partnership sharing profits in the ratio of 2: 3. On March 31,2005, they agree to dissolve the business. Pass necessary journal entries at the time of dissolution of the firm to record the following: (a) Realisation expenses amounted to Rs. 1,000. (b) Deferred revenue advertising expenditure appeared in the books at Rs. 60,000. (c) P & L Account on the asset side of the balance sheet was Rs. 30,000. (d) An unrecorded asset of Rs. 3,000 was taken over by Suresh. (e) Liabilities amounting to Rs. 24,000 already transferred to Realization Account, were settled at Rs. 22,000. (f) Loan to Rohit was adjusted through his Capital Account, Rs. 15,000.

Posted by Dishika Atri 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Vidya Sruthi 2 years, 5 months ago

answer?

19Thank You

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How would the following items be treated while preparing the financial statements of a sports club? Particulars Amount ₹ Prize Fund 44,000 Interest on Prize Fund Investments 6,000 Prizes Awarded 46,000 Match Expenses 64,000 Prize Fund Investments 44,000

Posted by Anmol Jain 4 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

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