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A firm had current asset of 4,10,000. It then paid trade payable of 50,000. After this payment, the current ratio was 2.4:1. Ascertain the amount of current liability and working capital after the payment. [ Current Liability = 1,50,000 ; Working Capital = 2,10,000 ]

Posted by Rashmi Raj 4 years, 2 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 4 years, 2 months ago

current assets = 410000

current assets after payment (410000-50000) = ₹360000

current ratio = current assets/current liabilities

2:4 = 360000/current liabilities current liabilities = ₹150000

working capital = current assets - current liabilities

working capital = 360000 - 150000 = ₹210000

ANSWER

Module 3 se term 1 me konse chapters aayege

Posted by Jitu Yadav 4 years, 2 months ago

CBSE > Class 12 > Accountancy

1 answers

Jitu Yadav 4 years, 2 months ago

1,2,4

Amara Madura and prema are partners sharing profit and losses in the ratio of 2:1:1 Their balance sheet as on 31/3/2018 was as follows Balance sheet as on 31/3/2018 Liabilities amount Assets Amt Bills payable. 4300 cash in Creditors. 5700 hand 1000 Capital Bills receivable 400 Amara. 30000 stock 20000 Madhura. 20000 Debtors 7000 Prema. 20000 Less PBD 400 Joint life policy 6600 Fund. 4000 Joint life Policy. 4000 Machinery 50000 Prepaid rent 20000 84000 84000 The firm was liquidated on the above date (A) Amara took over joint life policy for Rs 5000 (B) stock realised for rs 22000 debtors realised rs 4100 and machinery was sold for rs 58000 (C) Bills on hand realised in full (D) One bill for rs 500 under discount was dishonoured and had to be paid by the firm

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Posted by Kleona Killu 4 years, 2 months ago

CBSE > Class 12 > Accountancy

1 answers

Shiva Ugar 2 years, 5 months ago

answer send me

18Thank You

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Mohit had been allotted for 600 shares by a Govinda Ltd on pro rata basis which had issued two shares for every three applied. He had paid application money of ₹3 per share and could not pay allotment money of ₹5 per share. First and final call of ₹2 per share was not yet made by the company. His shares were forfeited. the following entry will be passed: Equity Share Capital A/c Dr ₹X To share Forfeited A/c ₹Y To Equity Share Allotment A/c ₹Z Here X, Y and Z are:

Posted by N. Neha 4 years, 2 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 4 years, 2 months ago

The answer is (C) 4800, 2700, 2100 respectively.

Mr.Ramakant decided to start a computer business. For this purpose he built the first floor of his house at a cost of Rs. 2,00,000 and invested a further sum of Rs. 3,50,000 in his business. He wanted to start with 12 computers costing Rs.40,000 each. He approached ICICI bank and secured a loan to the extent of 75% of the cost of computers. It was agreed that the loan will be repaid in four annual instalments as follows. At the end of first year Rs90,000 + Rs36,000 for interest At the end of second year Rs90,000 + Rs27,000 for interest At the end of third year Rs90,000 + Rs18,000 for interest At the end of fourth year Rs90,000 + Rs.9,000 for interest He started business on 1st April 2017. On the same date he deposited Rs.3,30,000 in the bank. He purchased computers and paid 25% of the value of computers from his bank and Rs.3,60,000 out of bank loan availed. He deposited Rs.10,000 for the electric connection with the Electricity Board and also deposited Rs.1,50,000 with the VSNL for internet and telephone connection. He spent Rs.40,000 for getting the computer cafe furnished and also spent Rs.6,000 in getting the pamphlets printed and distributed. All payments were to be made by cheques and all the receipts were to be deposited in the bank on the same day. At the end of the year, the results were: Rs Purchases of computer stationery 92,000Revenue from fees received from students of computer classes 2,70,000 Revenue on account of internet facility 2,20,000 Revenue from sale of computer stationery 1,60,000 Wages paid to servant 12,000 Electricity charges 48,000 Telephone charges 73,000 Entertainment expenses 7,000 General expenses 5,200 He withdrew Rs.5,000 by cheque each month for his personal expenses and duly paid the bank loan. You are required to Journalize the above transactions ,post them into the ledger and prepare a trial balance. Prepare trading and profit and loss account and balance sheet taking into consideration that :- 1. A telephone bill of Rs. 6,800 is yet to be paid. 2. Depreciate building by 5% , furniture by 20% and computers by 30%.

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Posted by Saniya Singh Thakur 4 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

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As per the partnership act 1932 what is the maximum limit regarding number of partner in partnership business

Posted by Satyam Kumar 4 years, 2 months ago

CBSE > Class 12 > Accountancy

2 answers

Krishna Sachdeva 4 years, 2 months ago

2 to 50 for partnership

Nagma Parveen 4 years, 2 months ago

ANSWER

Amrish, a partner, has taken a loan from the firm without an agreement. The firm shall charge interest @6%p.a. from Amrish.

Posted by Aashish Yadav 4 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

What is idiol ratio.??

Posted by Cute Baccha❤️ 4 years, 2 months ago

CBSE > Class 12 > Accountancy

1 answers

Gaytri Sharma 4 years, 2 months ago

If the current ratio is more then 1 then it is considered as ideal .

ANSWER

current ratio of Aadhaar Ltd. is 2:5:1.Accounts wants to maintain it at 2:1.

Posted by Priyanshu Kumar 4 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Rao and reddy were partners in ratio 3:1.they admit kitty as new ratio 3:2:1.kitty brought 2 lakh as capital and 50,000 for his share of premium

Posted by Daljit Kaur 4 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Sachin and drawid are partners in a firm sharing profit and losses in the ratio of 3:2.their balance sheet is given below :Balance sheet as on 31.03.2017. liabilities

Posted by Maheboob Maheboob 4 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

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Calculate "revenue from operations" for a financial company from the following information :miscellaneous income 10,000 interest on loans 100000, divident 150000, profit on sale of assets 40000

Posted by Khushi Jaiswar 4 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

0.33. Kavita and Leela are partners with capitals of 36,00,000 and 34,00,000 and sharing profits & losses in the ratio of 2 : 1. Their partnership deed provides that interest on capitals shall be provided @8% p.a., and it is to be treated as a charge against profits. Prepare relevant account to allocate the profit in the following alternative cases : (1) If profit for the year is 31,10,000 (i) If profit for the year is 35,000 (ui) Ifloss for the year is 10,000

Posted by Brown Boy 4 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

T.s grewal chapter 9 exercise questions 77 solution

Posted by Divyanshi Thakur 4 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Rohan Seth 4 years, 2 months ago

if u need ans

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Himalaya company ltd issued for public subscription 1,20,000equity share of 10 each at per premium for 2per share payable as under application 3, allotment 5on first call

Posted by Divyanshi Thakur 4 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

A and B are partners with a profit sharing ratio of 2:1 and capitals of ₹ 3,00,000 and ₹ 2,00,000respectively. They are allowed 6% p.a. interest on their capitals and are charged 10% p.a. interest on their drawings. Their drawings during the year were A ₹ 60,000 and B ₹ 40,000. B’s share of net profit as per profit and loss appropriation account amounted to ₹ 40,000. Net profit of the firm before any appropriations was:

Posted by Pardeep Brar 4 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Prashuk Jain 4 years, 3 months ago

ANSWER

Goodwill is valued at 1.5 years’ purchase of the average profits of last three years, less Rs.12,000. Profits of 3 years amounted to Rs. 12,000; Rs. 18,000 and Rs. 30,000.

Posted by Bhoomi Goyal 4 years, 3 months ago

CBSE > Class 12 > Accountancy

2 answers

Saloni Jain 4 years, 2 months ago

12000+18000+30000/3 =20000 Goodwill =20000×1.5 =30000

Tushar Gupta Tushar 4 years, 3 months ago

30000

Astha and Gomti are partners in a firm sharing profit and losses in the ratio of 2:1. Their Capital accounts as on 1st April, 2019 stand at ₹70,000 and ₹30,000 respectively. The partners are allowed interest on capital @10% p.a. The drawings of the partners during the year ended 31st March, 2020 amounted to ₹4,800 and ₹3,600 respectively. Interest is charged on drawings @10 % p.a. Astha has given a loan to firm as on 1stNovember, 2019 of ₹20,000. The profit of the firm before above adjustment was ₹80,000. 10 % of the Divisible Profit is to be kept in Reserve Account. Current accounts balances on 1st April, 2019 were Astha₹5,000 (Cr.), Gomti₹23,000 (Dr.). Prepare Profit & Loss Appropriation A/c for the year ended 31st March by showing working notes(if any).

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Posted by Arvind Singh 4 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Income and expenditure account is

Posted by Mohd Arshi 4 years, 3 months ago

CBSE > Class 12 > Accountancy

3 answers

Saloni Jain 4 years, 2 months ago

Nominal

Keshav Gupta 4 years, 3 months ago

Nominal account

Chanchal Parmar 4 years, 3 months ago

Nominal account

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A,Band C are partners in a firm. After the accounts of partnership have been drawn up and the books closed off. It is discovered that for the year 2018-2019, intrest has been allowed to the partners for interest in the partnership deed. Their fixed capitals on which intrest was calculated were ₹ 100000, ₹ 20000 and ₹ 60000 respectively. During the last two years they have shared profit are 2018- 3:2:1 and 2019- 5:3:2. You are required to give necessary adjusting entry on 1st january 2020

Posted by Bhawna Arora 4 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Ts grewal question 86 Chapter 5 Solution edition 202-22

Posted by Aditya Maheshwari 4 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Aditya Maheshwari 4 years, 3 months ago

2021-22 Edition

3Thank You

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Aseem and nihar started businees 300000 and 200000

Posted by Shan Mohmmad 4 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

X and tare are the partners sharing profits in the ratio of 4:3.Z admitted for 1/5 share and he brings in rs 140,000 as his share of goodwill in cash of which 3rd 120,000 is credited to X and remaining amount to Y . New profit sharing ratio will be

Posted by Suhani Soni 4 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

1.No goodwill exists in the books. 2.At the time of admission goodwill existed in the books of the firm at 1,60,000

Posted by Poojal Agrawal 4 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

X and Y are two partner sharing profits and losses in the ratio of 5:3 Z is admitted as a new partner for ¼th share of profit. Whar sacrificing ratio will be?

Posted by Santanu Kumae Thakur 4 years, 3 months ago

CBSE > Class 12 > Accountancy

2 answers

Arpit Gupta 4 years, 3 months ago

Let the total share 1 =1-1/4= 3/4 3/4*5/8= 15/32 3/4*3/8=12/32 1/4*8/8= 8/32 New ratio will be 15:12:8

Arpit Gupta 4 years, 3 months ago

Simple hi

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Posted by Arveen Singh 4 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

🤟Royal Thakur 🤟 4 years, 3 months ago