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given below is the balance sheet of krishna and suresh as at 31 march 2014 who are partners in a firm sharing profit in

Posted by Sheetal Rawat 3 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

How to make balance sheet

Posted by Vikash Tiwari 3 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Anita and babita were partners sharing p&l in the ratio of 3:1. They admitted savita for 1/5 share in the profits . Savita was unable to bring her share of goodwill premium in cash . The journal entry recorded for goodwill as follows . SAVITA CURRENT A/C DR. 24000 TO ANITA CAPITAL A/C 8000 TO BABITA CAPITAL A/C 16000 the new PSR of ANITA babita and savita will be A) 41:7:12 b) 13:12:10 c) 3:1:1 D)5:3:2

Posted by K Tripathy 3 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Head and sub head of Guarantees

Posted by Naitik Katiyar 3 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

The Balance Sheet of X, Y and Z who were sharing profits in the ratio of 5:3:2 as 31" March 2019 Liabilities Assets Creditors Employees Provident Fund Profit and Loss A/c Capitals X-40,000 Y-62,000 Z-33,000 50,000 Cash at Bank Debtors 10,000 Sundry 85,000 Stock Fixed Assets. 1,35,000 2,80,000 X retired on the same date on the following terms: of the firm is to be valued at 80,000 and X's share of the same to be adjusted in the accounts of Y and Z who are going to share the future profits in the ratio 2:3. (b) Fixed Assets are to be depreciated to 57,500. (a) Goodwill (c) Make a provision for Doubtful Debts at 5% on Debtors/ (d) An item of 2,000 included in creditors is not likely to arise. (e) 50% of amount due to X is paid at the time of retirement and 50% of balance to be paid one year later and for Prepare Revaluation account, Partners' Capital accounts and the Balance Sheet of new firm. balance accepted a bill of exchange.

Posted by Abhishek Thakur 3 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

How to prepare objective type questions MCQ?

Posted by Yash Mishra 3 years, 2 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

What is Partnership ??

Posted by Sheetal Yadav 3 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Sunil Kumawat 3 years, 2 months ago

Partnership in which two or more partner willing and doing work together and distribute their profit and loss in decided ratio

ANSWER

X and Y are partners in a firm. X is entitled to a salary of Rs 10,000 per month and commission of 10% of the net profit after Partner's salary but before charging Commission. B is entitled to a salary of Rs. 25,000 p.a. and commission of 10% of the net profit after charging all commission and Partner's Salaries. Net profit before providing for Partner's salaries and commission for the year ended 31st March , 2020 was Rs. 4,20,000 Show Distribution of Profit

Posted by Vibhav Shinde 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Raman and Rohit was a partner in a firm sharing profit in the ratio 2 is to 1

Posted by Piyush Maurya 3 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Sukanya Kumari 3 years, 3 months ago

Can u plz complete the question.

ANSWER

Xltd. Forfeited 750 shares of mr .R of ₹10 each fully called up for non payment on third and final call₹3per shares. These shares were re issued to mr B ,at ₹8 per share fully paid up. Ans_amount forfeited ₹5,250;capital reserve ₹3,750

Posted by Harman Deep Kaur 3 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Sunil Kumawat 3 years, 2 months ago

1.Sh cap a/c Dr. 7500 To sh final call a/c 2250 To sh forfeiture a/c 5250 2.Bank a/c Dr.6000 Sh forfeiture a/c Dr.1500 To sh capital a/c 7500 3.sh forfeiture a/c Dr.3750 To sh cap. Res. a/c 3750 W. Note :- 1. (For capital reserve) Cr. Bal of forfeiture minus (➖) Dr. Bal of forfeiture Cr. Bal. = 5250 Dr. Bal. = (1500) Cap res. = 3750

ANSWER

Pankaj and dinesh were in partnership sharing profits and losses in the ratio 2 : 1 they admitted vaanya as a new partner vaanya brought 120000 as her share of goodwill premium which was entirely credited to Pankaj capital account on the date of admission Goodwill of the firm was valued at 360002 there was a debit balance of 30,000 in the profit and loss account on the basis of the above information answer the following question : 1. what is the new ratio between Pankaj and Dinesh and Vandana. A)1:1:1 b) 2:1:1 C)3:1:1 D) 1:1:2 2. The entry for distribution of premium is. A) debit premium of goodwill 120000 credit Pankaj capital account 80000 credit Ganesh capital account 40000. B) debit premium for Goodwill 120000 credit Pankaj capital account 120000. C) debit Pankaj capital account 120000 credit premium for Goodwill account 120000. D) debit premium for Goodwill 120000 credit Ganesh capital account 120000 3. The new partner bring premium for Goodwill to acquire her share in ___________. A). Assets of the firm. B). Liabilities of the firm C). Profit of the firm D). expenses of firm. 4. The adjustment entry for profit and loss debit balance is. A). Debit profit and loss account credit Pankaj capital account 30000 B). Debit Pankaj capital account credit profit and loss account 30000 C). Debit Pankaj capital account 20000 debit Dinesh capital account 10,000 credit profit and loss account 30,000 D). debit Dinesh capital account credit profit and loss account 30,000

Posted by Amrita Choudhary 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Ram And Mohan were partner in a firm sharing profit in the ratio of 4 :1 on 1st April 2021 de admit Sohan as a new partner for one-third share in the profit of the firm they fixed the new profit sharing ratio as 4 : 2 : 3 on the date of Sohan admission the firm had a contingency reserve balance of 20,000 and profit and loss account balance of 32000 debit the firm also had a reserve of 100000 Sohan is to bring 60000 as premium for his share of goodwill. The basis of the above information answer the following question 1 .the gaining partner and their again is /are: a) Sohan 15 /45. B) ram and Sohan 1/45 and 1/3 respectively c)Mohan and Sohan 1/45 and 15/45 respectively d) none of these 2. The Contingency reserve will be credited to : a)revaluation account b) cash account c)old partner capital account d)none of these. 3. The compensation for sacrifice made is given to : a)Ram and Mohan rupees 30000 each b) Ram and Mohan 48000 and 12000 respectively c) Ram 64000 d)Mohan 60000. 4. The profit and loss account appearing in books will be written off by : a) crediting to all partner capital account in new ratio b) credit into old partner capital account in old ratio. C) debiting to old partner capital account in old ratio d) debiting to all partner capital account in new ratio

Posted by Amrita Choudhary 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

mr tushar started a business of computer

Posted by Vishal Solanki 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Durga ltd.invited application for issuing 1,00,000 equity shares of ₹10 each at par. The amount was payable as follows: On Application. ₹2per share On Allotment. ₹3 per share On first and final call. ₹5 per share . Applications were received for 2,80,000 shares

Posted by Priyanshi Agarwal 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

X Y and Z equal partner ina firm. They drew ₹ 5000 p.m each for six month commencing from 1st April 2019 in the following manner . X - at begning of the each month. Y - at the end of month. Z - at the middle of each month. Compute intrest on drwing @ 8% p.a for 6 month ending on 30th september, 2019

Posted by Kajal Batham 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Journalise the following transactions in the books of Dixit & Sons. : 2018 Mar.2 Sold goods to Dilip of the list price of 62,000 for 60,000. Mar.16 Purchased goods costing 2,00,000 from Hari & Co. Paid 75% immediately by cheque to avail 4% discount. Mar.20 Sold goods to Vishal Traders costing 40,000 at 25% profit, allowing 10% trade discount and 10% cash discount. Received 80% payment immediately by cheque. Mar.26 Sold goods to Brij & Co. costing 50,000 at 40% profit, allowing 10% trade discount and 5% cash discount. Brij & Co. paid the full amount by cheque and availed cash discount.

Posted by Shivam Sharma 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Pandey Ltd. Has an authorised capital of ₹ 750000 divided into shares of ₹ 10. Out of these 24000 shares were issued as fully paid in payment

Posted by Maina Bora 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Malkar a partner of RBC firm having capital 500000 in the firm.He introduced further capital on 30 th June 2018 of 100000 and withdrew capital 40000 on 31st march 2019 if 15%p.a interest is allowed on partners capital.also calculate total capital of malakar which is left with the firm on 31st march 2019 if loss incurred 50000 and drawing made 30000 during the year

Posted by Harsh Tripathi 3 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Diya Yadav 8 months, 2 weeks ago

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ANSWER

Anita and babita were partners sharing profit and losses in the ratio of 3 is to 1 Savita was admitted for one by feat share in the profit Savita was unable to bring her share of goodwill premium in cash the general entry recorded his Goodwill premium is given below

Posted by Kishan Khetan 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Calculate the value of goodwill by super profit method, when goodwill is to be valued at 2.5 years purchase of the average profit of the last 3 years. Profit of the previous 5 years are given below: 2019- Rs. 60,000; 2018- Rs. 40,000; 2017- Rs. 1,10,000; 2016- Rs. 40,000; 2015- Rs. 30,000 Capital investment of the firm is Rs. 1,00,000 and having rate of return is 20%.

Posted by Harsh Rathore 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

What is according

Posted by Deepika Gupta 3 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 3 years, 3 months ago

to give something to somebody.

ANSWER

Can someone help me with computerised accounting ?

Posted by Sanyam Jain 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Konark ltd

Posted by Lalit Kumar 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

On revaluation of assets and liabilities, The balance of the capital account do not change... True or false???

Posted by Vanshika Yadav 3 years, 3 months ago

CBSE > Class 12 > Accountancy

3 answers

Sukanya Kumari 3 years, 3 months ago

False

Mishika . 3 years, 3 months ago

False

Preet Gill Gill 3 years, 3 months ago

false

ANSWER

A company issued for public subscription 40000 equity shares of rs 10 at premium rs 2 per share payable as under Application ....rs 3 per share Allotment ....rs 4 First call ....rs 2 Final call .....rs 3 Applications were recieved for 70000 shares. Allotmnt was made pro rata basis to applicants for 50000 shares,remaning were refused.money overpaid on application was applied towards sum due on allotmnt. A to whom 1600 shares were alloted failed to pay allotment and calls money. B to whom 2000 shares were alloted failed to pay 2 calls . Shares of A and B were forfeited after second call was made. 3000 were reissued at rs 8 per share fully paid. Reissued shares include all A's shares.

Posted by Shehnaaz Kaur 3 years, 3 months ago

CBSE > Class 12 > Accountancy

2 answers

Jyoti Bathyal 8 months, 2 weeks ago

please tell answer

Roshni Anand 1 year, 11 months ago

Please ans me

ANSWER

A, B are partner in the firm capital A= 60,0000 B= 90,0000 Interest in capital = 10 % Salary of B = 40,000 10,00,000 net profit after salary Mangement commission 5% Loss in fire expence= 30,000 Salary = 20,000 Advertisement expences = 10,000

Posted by As Gaming Vverma 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

11. L and M are partners in a firm. L capital is Rs.70,000 and M Capital is Rs.50.000. Firm’s profit is Rs.60,000. M share in profit will be?

Posted by Utkarsh Shukla 3 years, 3 months ago

CBSE > Class 12 > Accountancy

2 answers

Mishika . 3 years, 3 months ago

30000

Akash Chaubey 3 years, 3 months ago

30000 because there is partnership deep is silence

ANSWER

Average profit method

Posted by Arun Panwar Makwana 3 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

As Gaming Vverma 3 years, 3 months ago

total profit __________________ Number of year

ANSWER

Madhuri and arsh are partners in a firm sharing profits in tha ratio 3:1

Posted by Mansi Mansi 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

A and B contribute ₹1,00,000 and ?₹60,000 respectively in a partnership firm by way of capital on which they agree to allow interest @ 8% p.a. Their profit or loss sharing ratio is 3 : 2. The profit at the end of the year was ₹2,800 before allowing interest on capital. If there is a clear agreement that interest on capital will be paid even in case of loss, then A’s share will be

Posted by Mallik Arjun 3 years, 3 months ago

CBSE > Class 12 > Accountancy

2 answers

Samiksha Mishra 3 years, 3 months ago

Solution of

Jai Aggarwal 3 years, 3 months ago

6000 loss

ANSWER

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