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10. Ramesh and Suresh are partners sharing profits in the ratio of 2 : 1 respectively. Ramesh Capital is ₹1,02,000 and Suresh Capital is ₹73,000. They admit Mahesh and agree to give him 1/5th share in future profit. Mahesh brings ₹14,000 as his share of goodwill. He agrees to contribute capital in the new profit sharing ratio. How much capital will be brought by Mahesh?

Posted by Srishti Titoriya 3 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 3 years, 3 months ago

Rs 43,750

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ANSWER

A and b were partners in a firm . The combined

Posted by Shilpa Sinha 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Preparing balance sheet of Chennai club

Posted by Ranjodh Singh 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Yash and Karan were partners in an interior designer for their fixed capitals versus 600004 lakh respectively

Posted by Vishal Singh 3 years, 3 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

From the following Receipts and Payments Account of Vinod Welfare Club for the year ended 31st March 2020 and the additional information, prepare Income and Expenditure Account and Balance Sheet of the Club. Receipts To Balance b/d(Cash) To Subscription: 2018-19 2019-20 2020-21 75,000 25,000 To Income from Sports (matches To Interest on 8% Govt. Securiti To Profit from Entertainment To Rent of Hall Amount 50,000 Payments By Salaries By Stationery By Rates and Taxes By Telephone Charges 2,00,000 By 8% Govt. Securities at par 60,000 By Sundry Expenses By Billiard Table By Furniture By Courier Service Charges By Balance c/d (Cash) 5,000 25,000 10,000 Amount 80,000 4,500 1,500 1,000 25,000 38,000 70,000 3,000 27,000 3,50,000 3,50,000 Additional Information: (i) There are 1000 members, each paying an annual subscription of Rs.125. Subscription in arrears in the beginning Rs.87,500 and 100 members paid subscription in advance for 2019-20. (ii) Stock of stationery on March 31, 2019 was Rs.1,500 and on 31st March 2020 Rs. 2,000. (iii) On March 31, 2020 the Rates and Taxes were prepaid to the following January 31, the annual charges being Rs.1,500. (iv) Value of 8% Government Securities on 31st March 2019 was Rs.75,000 which were purchased at par on that date. Additional Government Securities worth Rs.25,000 were purchased on 31.3.2020.

Posted by Ambika Goyal 3 years, 4 months ago

CBSE > Class 12 > Accountancy

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ANSWER

Distinguish between profit and non profit organisation

Posted by Syed Zainul 3 years, 4 months ago

CBSE > Class 12 > Accountancy

2 answers

Account Deleted 3 years, 4 months ago

Profit organization- which works for earning profits by doing some production activities Non-profit organization- which does not work to earn profit but to provide social services (maybe)

2Thank You

Shivani Sharma 3 years, 4 months ago

A and b are the partners sharing profits in the ratio 2:1 they c for 1/4th share in profits c brings in 30000 for his capital and 8000 out of his share of 10000 for goodwill before admission goodwill existed in the book at 18000.pass journal entries to give effect to the above arrangement..

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P and q are partners sharing profits in the ratio 1:2. R was manager who received the salary of 10000 p.m. in addition to commision of 10% on net profits after charging such commission. Total remuneration to R amounted to 180000. Profit for the year before charging salary and commission was

Posted by Charchit Garg 3 years, 4 months ago

CBSE > Class 12 > Accountancy

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Charu &harsha were partners in a firm sharing profit in the ratio of 3:2 on 1-4-2019 their balance sheet was as follows. Vasanth was admitted for1/4 share in profit of the firm. Prepare revolution account, partners account, balance sheet

Posted by Kavyashree S S 3 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Calculate the Value of equity shares by yield method: 1000, 14% preference shares 100each. 20000 equity shares 10 each. Annual profit rs190000 ,

Posted by Poonam Thakur 3 years, 4 months ago

CBSE > Class 12 > Accountancy

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Prize awarded to students on the college day capital or revenue

Posted by Adarsh R B 3 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Palak Bhardwaj 3 years, 4 months ago

Revenue

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A and b are partners with his profit sharing ratio of 2 ratio 1 and capital of 300000 and two lakh respectively they are allowed 6% per annum interest on their capital and are class 10% per annum interest on their drawing their drawing during the year where a rupees 60000 and the rupees 40000 20 year of net profit as for profit and loss appropriation account amounted to 40000 net profit of the firm before any appropriation was:

Posted by Priyanshu Jaiswal 3 years, 4 months ago

CBSE > Class 12 > Accountancy

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ANSWER

A and b are partners with a profit sharing ratio of 2 ratio 1 and capital of 300000 and two legs respectively they are allowed 6% per annum interest on their capitals and are charged 10% per annum interest on their growing their drawing during the year where a rupees 60000 and b is rupees 40000 bees share of net profit as for profit and loss appropriation account amounted to rupees 40000 net profit of the form before and appropriation was: Please Give the solution of this question

Posted by Priyanshu Jaiswal 3 years, 4 months ago

CBSE > Class 12 > Accountancy

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ANSWER

X and y contribute 20000 and 10000 respectively towards capital . they decided to Allow interest on capital 6% per annum. their respective share of profit is 2 : 3 and the net profit for the year is 1500 .show distribution of profit .where there is no agreement except for interest on capital and where there is an agreement that the interest on capital as a charge.

Posted by Dipanshi Agrawal 3 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

calculate operating surplus from the following data

Posted by Kalpna Chhetri 3 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 3 years, 4 months ago

Please ask question with complete information.

1Thank You

ANSWER

Calculate the income from subscription for the year 2020-21 to be credited to income and expenditure account from the following information relating to a club

Posted by Kanan 25 3 years, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Neerav and madhur were partner in a firm they admit gopal in a firm

Posted by Manvi Saraswat 3 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 3 years, 4 months ago

Please ask question with complete information.

2Thank You

ANSWER

Neerav and madhur are partners sharing

Posted by Radhika Gupta 3 years, 4 months ago

CBSE > Class 12 > Accountancy

2 answers

Manvi Saraswat 3 years, 4 months ago

Neerav and Madhura partner uniform care share profit in the ratio of 3 ratio 2 they decided to admit proper into a partnership for one fourth share on profit he bring his share of goodwill in cash and proportionate capital at the time of admission the balance sheet of Nirav and madhur as under

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Sia ? 3 years, 4 months ago

Please ask question with complete information.

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. Z is a partner in a firm. He withdrew regularly ?2,000 every month for the six months ending 31st March, 2019. If interest on drawings is charged @ 8% p.a. the interest charged will be

Posted by Kritika Bhatnagar 3 years, 4 months ago

CBSE > Class 12 > Accountancy

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ANSWER

X , Y and Z are partners sharing profits in the ratio of 3:2:1 . They decided to share future profits in the ratio 2:1:1. Thus, C's sacrifice/ gain will be

Posted by ༄Aℓi࿐• Ayan 3 years, 4 months ago

CBSE > Class 12 > Accountancy

3 answers

Ankita Gupta 3 years, 4 months ago

-1/12 will be gain

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Neelima Maurya 3 years, 4 months ago

C's sac/gain = 1/6 - 1/4 1×4/6×4 - 1×6/4×6 4/24 - 6/24 (2/24) gain

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༄Aℓi࿐• Ayan 3 years, 4 months ago

X , Y and Z are partners sharing profits in the ratio of 3:2:1 . They decided to share future profits in the ratio 2:1:1. Thus, C's sacrifice/ gain will be

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ANSWER

L, M and N were partners in firm sharing profits in the ratio of 3 : 4 : 5. Their fixed capitals were L Rs.4,00,000, M Rs. 5,00,000 and N Rs. 6,00,000 respectively. The partnership deed provided for the following: a) Interest on capital @ 6% per annum. b) Salary of Rs. 30,000 per annum to N. c) Interest on partner’s drawings will be charged @ 12% per annum. During the year ended 31st March, 2008 the firm earned a profit of Rs. 2,70,000. L withdrew Rs. 10,000 on 1st April, 2008, M withdrew Rs. 12,000 on 31st September, 2008 and N withdrew Rs. 15,000 on 31st December, 2008. Prepare profit and loss appropriation account for the year ended 31st March, 2009. (6)

Posted by Ritika Chauhan 3 years, 4 months ago

CBSE > Class 12 > Accountancy