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On the admission of new partner increase value -

Posted by Salcy Pereira 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

A and b are partner sharing profit and losses equally the firm earn profit 702600 the year ended.A and B Capital of 500000

Posted by Yashika Sharma 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

What do you mean by share?

Posted by Yash Mishra 3 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

As Gaming Vverma 3 years, 3 months ago

Share can be defined as one of the units into which the share capital of company has been divided

ANSWER

A and B are partners in a firm sharing profits in the ratio of 3 : 2. They decided to share future profits equally. Calculate A’s gain or sacrifice.

Posted by Varun Ff Gaming 3 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Ansh Prasad 3 years, 3 months ago

A old share= 3/5 B old share=2/5 Future profit of A= 1/2 Future profit of B= 1/2 Scarificing ratio=Old ratio -New Ratio 3/5-1/2 =1/10 (A Sacrifices) 2/5-1/2 =-1/10 (B Gain) I hope it will help you?

ANSWER

Yash and Manan are partners sharing profits in the ratio of2:1. They admit Kushagra into partnership for 25% share of profit. Kushagra acquired the share from old partners in the ratio of 3:2. The new profit sharing ratio will be:

Posted by Varun Ff Gaming 2 months, 4 weeks ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

givenGiven below the balance sheet of Krishna and Suresh who are the partner in a firm sharing profit and losses in ratio of 3 ratio 2

Posted by Nidhi Jha 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

A B and c are partner sharing profit and losses in the ratio of 4:3:2 after the preparation of final aacount of the year it was discovered that interest on drawing had not been taken into account interest on drawing of partner amount to ₹300 ₹220 ₹200 respectively give necessary adjustments journal entry

Posted by Megha Kataria 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Distinguish between "Capital Withdrawn" and "Drawing".

Posted by Piyush Kumawat 3 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

D K 3 years, 3 months ago

Capital withdrawn is an amount larger in quantity which is needed for some construction or commercial purposes but drawings are considered to be less amount of money withdrawn from the company to fulfill basic needs. :)

ANSWER

A and B were partners in a firm with capital 300000 and 200000 respectively. The normal rate of return was 20 percentage and capitalized value of average profit was 750000 .Calculate goodwill of the firm by capitalization of average profit method

Posted by Abhay Singh 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

sachin and dravid are partners in firm sharing profits and losses in the ratio 3:2

Posted by Keena Mali 3 years, 2 months ago

CBSE > Class 12 > Accountancy

1 answers

Harshita Sharma 3 years, 3 months ago

Question ???

ANSWER

The Capitals invested by a Partner M at different dates are as follows:- on 1.1.2020 Rs.30,000 on 1.4.2020 Rs.10,000 on 1.10.2020 Rs.5,000 on 31.12.2020 Rs.15,000 Calculate the interest on capital at 6% p.a. assuming the financial year of the firm closes on 31st December every year?

Posted by Gaytra Aanjana 3 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

R K 3 years, 3 months ago

Interest on capital = 1800+450+75+0= 2325

ANSWER

P and Q were partners in a firm sharing profits and losses in the ratio of 7 : 3. As per partnership deed P was to be paid a monthly salary of ` 6,000 and Q was to get a bonus of ` 50,000 per annum. Interest on capital was to be allowed @ 10% p.a. and interest on drawings was to be charged @ 8% per annum. Interest on P’s drawings was ` 3,600 and for Q ` 2,400. They had fixed capitals of ` 5,00,000 and ` 2,00,000 respectively. The firm earned a profit of ` 3,00,000 for the year ended March 31, 2020. Prepare Profit and Loss Appropriation A/c for the year. 2

Posted by Nithya Manoharan 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

X and Y share profit in the ratio of 3:2. Their Capitals were Rs.50,000 and Rs.30,000 respectively. During the year 2021 their firm earned a profit of Rs.60,000. The following adjustments are to be taken into consideration:- a) Interest on capital at 6% p.a. b) Interest on drawing at 12% p.a. c) Salary to X at Rs.500 p.m. The drawing of X-Rs.2,000 and Y-Rs.5,000 on 31st September 2020. Prepare Profit and Loss Appropriation Account.

Posted by Gaytra Aanjana 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

x and y are partners in a firm sharing profits in the ratio 3 2 on 31 march 2004 their balance sheet was as follows on the above date z was admitted as a new partner in the firm for 1/4th share in th3 profit on the following terms z will bring 120000 for his capital and 20000 as goodwill in cash. machinery to be depreciated by 10 q and land building was to be appreciated by 30000. stock valued at 80000 provision of 5% be created for doubtful debts half of the Goodwill withdrawn by the old partner

Posted by Sakshi Kalouni 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

A and B are partners in a firm having a capital of 54,000 and 36,000 respectively. They admitted C for 1/3 share in the profits. C brought proportionate amounnt of capital. The capital brought in by C would be ??

Posted by Raj Patel 3 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 3 years, 3 months ago

Capital of A and B

I.e (56000+36000) = ₹90,000

C's share for 1/3rd share = 90000

90000 {tex}\times \frac13 \times \frac 32{/tex}

capital of C will be ₹45,000

ANSWER

Awerage proft of a firm during the ast few years is 1,50,000. In similar business the normal rate of retun is 10% of the capitai employed. Caicuiate the value of goodwill by capitalisation of method Ë super proht super profrts of the firm are 50,000

Posted by ༄Aℓi࿐• Ayan 3 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 3 years, 3 months ago

(i) Super Profit Method:

Step 1: Calculation of Capital Employed:

Capital Employed= 300000

Step 2: Calculation of Normal Profit:

Normal Profit= 300000 * [10/100]

= 30000

Step 3: Calculation of Average Profit:

Average Profit= 50000

Step 4: Calculation of Super Profit:

Super Profit= 50000-30000

= 20000

Step 5: Calculation of Goodwill:

Goodwill= Super Profit * Number of years' of purchase

= 20000 * 3

= 60000

(ii) Capitalisation of Super Profit Method:

Step 1: Calculation of Capital Employed:

Capital Employed= 300000

Step 2: Calculation of Normal Profit:

Normal Profit= 300000 * [10/100]

= 30000

Step 3: Calculation of Average Profit:

Average Profit= 50000

Step 4: Calculation of Super Profit:

Super Profit= 50000-30000

= 20000

Step 5: Calculation of Goodwill:

Goodwill= Super profit* [100/Normal Rate of return]

= 20000 * [100/10]

= 200000

ANSWER

A business earned average profits of Rs.1,00,000/- during the last few years. The normal rate of return in similar type of business is 10%. The assets of the business were Rs.10,00,000/- and external liabilities was Rs. 1,80,000/-. Calculate the value of goodwill of the firm by super profit method, if the goodwill is valued at 2. 1/2 years purchase of super profits

Posted by Taneesh Khan 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

X and y are partners in a firm sharing profit in the ratio of 3:2.On 31.3.2004 there balance sheet as well as follows

Posted by Srujith Srujith 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Ankur and Ashish are partners in a firm sharing profit in 3:2. They admitted Deepak as a new partner for 1/5 share. New Ratio between Ankur and Ashish will be 4:5calculate their new and sacrificing ratio?

Posted by Muskan Jain 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Bhamashah Company Limited made an issue of 1,00,000 Equity Shares of 10 each at a premium of 20% payable as follows: On application On allotment On first and final call *2.50 per share, *4.50 per share, and Balance. Applications were received for 2,00,000 Equity Shares and the Directors made pro rata allotment. Ranu who had applied for 800 shares did not pay the allotment and final call money, as a result his shares were forfeited. Later on 80% of the forfeited shares were reissued at 8 per share as fully paid-up. Pass necessary Journal entries for the above mentioned transactions in the books of the company. [Ans.: Capital Reserve- 960.]

Posted by Anisha Singh 3 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 3 years, 3 months ago

On application Rs 2.50 per share On allotment Rs 4.50 per share On first and final call – balance. Applications were received for 2,00,000 equity shares and directors made pro rata allotment Ramu, who had applied for 800 shares did not pay allotment and final call

ANSWER

If the sum of rupees 760 is divided among ABC in such a manner that if A gets rupees 2 B gets rupees 3 and C gets rupees 4.5 then the share of C exceeds that of A by

Posted by Mahi Gupta 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

which is a capital receipt

Posted by Likha Palo 3 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Mishika . 3 years, 3 months ago

Capital receipts are those receipts which either increase liabilities or reduce financial assets

ANSWER

subscribed capital is

Posted by Likha Palo 3 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

D K 3 years, 3 months ago

Subscribed capital is the amount of money which have been deposited on receiving the call from the company.

ANSWER

Yash Madhu and vadu

Posted by Khushi Khushi 3 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 3 years, 3 months ago

Please ask question with complete information.

ANSWER

A company issue 15000 equity shares of rupes100 each to the public all amount have been received in lump- sum pass the necessary journal entraies in the books of the company

Posted by Shivani Gautel 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Anish and Manish are partners and they admit Ravish into partnership. They agreed to value goodwill at three years' purchase on Weighted Average Profit Method taking profits for the last five years. They assigned weights from 1 to 5 beginning from the earliest year and onwards. The profits for the last five years were as follows: Year ended Profits (3) 31st March, 2014 1,25,000 31st March, 2015 1,40,000 Books of Account revealed the following: (i) A second hand machine was purchased for 5,00,000 on 1st April, 2016 and 1,00,000 were spent to make it operational. 1,00,000 were wrongly debited to Repairs Account. Machinery is depreciated @ 20% p.a. on Written Down Value Method. (ii) Closing Stock as on 31st March, 2017 was undervalued by 50,000. (iii) Remuneration to partners was to be considered as charge against profit and remuneration of 20,000 p.a. for each partner was considered appropriate. Calculate the value of goodwill. [Ans.: Value of Goodwill-3,12,000.] SCS

Posted by Pragati Pachori 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Sahil amd anupam are the partner sharing profit in the ratio 3:2 it was agreed to value of goodwill at three years purchase on the basis of weighted average profit of the past five year

Posted by ༄Aℓi࿐• Ayan 3 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

༄Aℓi࿐• Ayan 3 years, 3 months ago

Answee bhj

ANSWER

The extention of profit and loss account is_________

Posted by Yash Verma 3 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Hello Singh 3 years, 3 months ago

Profit and Loss Appropriation Account

ANSWER

Ramesh Kumar is not a good person who has been set up with love and admiration

Posted by Yash Verma 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

On 1st April 2017 A and B entered into partnership contributing 60000 and 45000 respectively they agreed to share profit and ratio 3:2 B is allowed salary 12000 per year. Interest on capital is to allowed 10% during the year A withdrew 9000 and B withdraw 18000 as 31st March 2018 before above adjustment 35000 show distributing of profit and loss account and partners capital account

Posted by Deepika Jaiswal 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

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