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    • Posted by Nischal Bu 1 year, 4 months ago

    CBSE > Class 12 > Accountancy
    • 1 answers

    Nischal Bu 1 year, 4 months ago

    What is the answer

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    • Posted by Nischal Bu 1 year, 4 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
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    • Posted by Jayaraman Ambika 1 year, 4 months ago

    CBSE > Class 12 > Accountancy
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    • Posted by Harkirat Kaur 1 year, 4 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
    ANSWER
    value of investments is Rs 1,52,000. 11. Madhu and Akash were partners in a firm sharing profits and losses in the ratio of 3:1. Their balance sheet as at 31 ^ (5t) march 2019 was as follows: Liabilities Rs Assets Capitals: Madhuri Arsh Workmen's Compensation Fund 60,000 Creditors Employees Provident Fund 1,90,000 1,10,000 Total 8,60,000 Plant and Machinery Rs 4,70,000 1,10,000 1,10,000 Investments Debtors 1,20,000 Less: Provision for bad debts 10,000 Stock Cash 1,40,000 30,000 Total 8,60,000 On 1st April 2019 they admitted Jyoti into partnership for 1 / (4 ^ (th)) share in the profits of the firm. Jyoti brought proportionate capital and Rs 40,000 as her share of goodwill premium. The following terms were agreed upon: (a) Provision for doubtful debts was to be maintained at 10% on debtors. (b) Stock was undervalued by Rs 10,000. (c) An old customer whose account was written off as bad, paid Rs 15,000. (d) 20% of the investments were taken over by Akash at book value. (e) Claim on account of Workmen's compensation amounted to Rs 70,000. (f) Creditors included a sum of Rs 27,000 which was not likely to be claimed. Prepare Revaluation account, Capital account. 75 30

    • Posted by Diya Bansal 1 year, 4 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
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    • Posted by Meenu Chaurasiya 1 year, 4 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
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    • Posted by Tanu Madaan 1 year, 4 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
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    • Posted by Riza Ali 1 year, 4 months ago

    CBSE > Class 12 > Accountancy
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    • Posted by Lokesh Kumar 1 year, 4 months ago

    CBSE > Class 12 > Accountancy
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    • Posted by Sourav Das 1 year, 4 months ago

    CBSE > Class 12 > Accountancy
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    • Posted by Angel Kumari 1 year, 4 months ago

    CBSE > Class 12 > Accountancy
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    • Posted by Sleeping Beauty Rasi 1 year, 4 months ago

    CBSE > Class 12 > Accountancy
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    • Posted by Kongka Be 1 year, 4 months ago

    CBSE > Class 12 > Accountancy
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    • Posted by Dolly Yumnam 1 year, 4 months ago

    CBSE > Class 12 > Accountancy
    • 2 answers

    Lokesh Kumar 1 year, 4 months ago

    No the depreciation not charged from machinery is not a abnormal loss because it in encurd year after year

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    Jashan Study 1 year, 4 months ago

    No it is a normal expense it must be debited

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    • Posted by Gautam Singhal 1 year, 4 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
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    • Posted by Sehaj Batra 1 year, 4 months ago

    CBSE > Class 12 > Accountancy
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    • Posted by Sehaj Batra 1 year, 4 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
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    • Posted by Anwushka Soni 1 year, 5 months ago

    CBSE > Class 12 > Accountancy
    • 1 answers

    Rajan Vaishy 1 year, 4 months ago

    This content has been hidden. One or more users have flagged this content as inappropriate. Once content is flagged, it is hidden from users and is reviewed by myCBSEguide team against our Community Guidelines. If content is found in violation, the user posting this content will be banned for 30 days from using Homework help section. Suspended users will receive error while adding question or answer. Question comments have also been disabled. Read community guidelines at https://mycbseguide.com/community-guidelines.html

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    • Posted by Sarsij Mishra 1 year, 5 months ago

    CBSE > Class 12 > Accountancy
    • 1 answers

    Anwushka Soni 1 year, 5 months ago

    On 1st April,2023 A and A commenced business with capitals of ₹600000 and ₹200000 respectively on 31st March 2024 the net profit (before taking into account the provision of deed) was ₹240000 interest on capital is to be allowed at 6% per annum b was entitled to a salary of ₹60000 per annum the drawings of the partners a and b were ₹60000 and ₹40000 respectively the interest on drawings for a being ₹2000 and b ₹1000 assuming that A and b are equal partners prepare the profit and loss appropriation account and partners capitals account as at 31st March 2024

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    A, B and C were partners in a firm having capitals of ₹2,00,000; ₹2,00,000 and ₹80,000 respectively on 1st April, 2022. Their Current Account balances were A : *20,000; B: ₹10,000 and C: ₹5,000 (Dr.). According to the partnership deed the partners were entitled to interest on capital @ 10% p.a. B being the working partner was also entitled to a salary of ₹6,000 per quarter. The profits were to be divided as follows: (a) The first ₹60,000 in proportion to their capitals. (b) Next 1,00,000 in the ratio of 4: 3: 1. (c) Remaining profits to be shared equally. The firm made a profit of ₹2,80,000 for the year ended 31st March, 2023 before charging any of the above items. Prepare the Profit & Loss Appropriation Account and pass necessary journal entry for apportionment of profits.

    • Posted by Lakshay Agarwal 1 year, 5 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Vansh Saini 1 year, 5 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
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    • Posted by Shivangi Shivi 1 year, 5 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Srinivas Srinivas 1 year, 5 months ago

    CBSE > Class 12 > Accountancy
    • 1 answers

    Srinivas Srinivas 1 year, 5 months ago

    This content has been hidden. One or more users have flagged this content as inappropriate. Once content is flagged, it is hidden from users and is reviewed by myCBSEguide team against our Community Guidelines. If content is found in violation, the user posting this content will be banned for 30 days from using Homework help section. Suspended users will receive error while adding question or answer. Question comments have also been disabled. Read community guidelines at https://mycbseguide.com/community-guidelines.html

    Few rules to keep homework help section safe, clean and informative.
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    • Ask specific question which are clear and concise.

    Remember the goal of this website is to share knowledge and learn from each other. Ask questions and help others by answering questions.

    1Thank You

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    • Posted by Soniya Yadav 1 year, 5 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
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    • Posted by Sushant Kamboz. 1 year, 5 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
    ANSWER
    Pooja and Archna are parmas in a finn sharing profits and losses 1. Their capital accounts as en 1st April, 2017 stand at 70,000 ratio of 2 respectively. The partners the partners during s are allowed muret in capital @ 10% the year ended 31st March, 2018 amounted to p.a. The respectively. Interest is charged on drawings at the tale of 10% p.a. and t 1st December 1st February Interest on drawings is charged @ of A for the year ended 31st March, 20 [Ans. Interest on Drawings ₹221. Q. 22 (A). Gopal is a partner in a dras first day of every month during th If interest on drawings is c drawings of Gopal. 4,800 and Pooja has given a loan to firm as on 1st November, 2017 of ₹20,000. The profit of the firm for the year ended ist March, 2018 before adjustments was 280,000. 10% of this pult is beligt in a Reserve Account Current A/c balances on 1st April, 2017 wet Pooja ₹5,000 (Cr.); As 23,000 (Dr

    • Posted by Himalaya Singhal 1 year, 5 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Saksham Aryan 1 year, 5 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
    ANSWER
    Madhuri and Arsh were partners in a firm sharing profits and Their Balance Sheet as at 31 ^ (st) * M * a * r * c * h 2019, was as follows: losses in the ratio of 3: 1. Balance Sheet of Madhuri and Arsh As on 31 ^ (st) March, 2019 4 Assets Amount (3) Liabilities Amount () 4,70,000 1,10,000 Capital Madhuri Arsh 1,20,000 2,00.000 Machinery Investments 5,00,000 Debtors Less: Provision for doubtful 60,000 debts Workmen's Compensation Fund (10,000) 1,10,000 Creditors Employees' Provident Fund 1,90,000 Stock 1,10,000 8,60,000 Cash 1,40,000 30,000 8,60,000 On 1 ^ (st) April, 2019, they admitted Jyoti into partnership for 1 / (4 ^ (th)) share in the profits of the firm. Jyoti brought proportionate capital and 40,000 as her share of goodwill premium. The following terms were agreed upon; (i) Provision for doubtful debts was to be maintained at 10% on debtors. (ii) Stock was undervalued by 10,000. (iii) An old customer whose account was written off as bad, paid 15,000.. (iv) 20% of the investments were taken over by Arsh at book value. (v) Claim on account of workmen's compensation amounted to 70,000. (vi) Creditors included a sum of 27,000 which was not likely to be claimed. Prepare Revaluation Account, Partners' Capital Accounts and the Balance Sheet of the reconstituted firm

    • Posted by Pozhil Veer 1 year, 5 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Vansh Sharma 1 year, 5 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Tanya Chaudhary 1 year, 5 months ago

    CBSE > Class 12 > Accountancy
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