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A,B are partner sharing profit in the 5:3.C is admitted to the partnerships for 1/4th share of future profits . Calculate the new profits sharing ratio.

Posted by Anbu Mathi Mathi 4 years, 5 months ago

CBSE > Class 12 > Accountancy

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Akshat Rawat 3 years, 9 months ago

A- 15/32, B- 9/32, C- 8/32

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a b and c are partners sharing profit in the ratio 2 2 1 on july 1 2013 goodwill of the firm was valued at 45000 goodwill does not appear in books on the date a retires pass journal entry regarding goodwill

Posted by Rohinth Rohinth 4 years, 5 months ago

CBSE > Class 12 > Accountancy

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E,f,g were partners in a firm sharing profits in the ratio of 3:2:1 after division of the profits for the year ended 31-3-2021 their capitals were e ₹ 2,95,000,f 3,30,000 and g₹3,35,000 during the year they withdrew₹ 40,000 each the profits of the year was ₹1,80,000 the partnership deed provided that interest on capital will be allowed a 12 percent while preparing the final accounts

Posted by Abhi Shukla 2 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Ayush Yadav 1 year, 5 months ago

closing capital 295000-90000+40000=245000

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A B and C have capitals of ₹60000, ₹30000, ₹20000 respectively on 1st April, 2017, on which they are entitled ____________________

Posted by Deeksha Chand 4 years, 5 months ago

CBSE > Class 12 > Accountancy

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Dk goel book class 12 additional questions number 97

Posted by Deeksha Chand 4 years, 5 months ago

CBSE > Class 12 > Accountancy

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Chapter 2 additional questions number 97

Posted by Deeksha Chand 4 years, 5 months ago

CBSE > Class 12 > Accountancy

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Daksh had an ambition to start a business. After completing his studies, he surveyed the market for a business opportunity. He did a course in the production and marketing of handmade sheets. There after, he decided to start the business of producing handmade sheets, through which he would be recycling some of the waste material. On 1st April 2013, he started his business with a capital of 5,00,000 and borrowed 5,00,000 from his friend at an interest rate of 8% per annum. He purchased premises for 4,00,000 and installed machinery valued at 1,00,000. Loose tools of 80,000, Furniture and Fixtures of 1,50,000 and a computer for 20,000 were also purchased. All the cash was kept in a bank and payments were made through the bank. The following is a summary of transactions:

Posted by Beauty Dubey 4 years, 5 months ago

CBSE > Class 12 > Accountancy

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M and t are partners in a firm their capital account as on 1st April 2018 showed a balance of 100000 and 80000 respectively. On 1st August 2018 m introduced additional capital of 20000 and withdrew 30000 on 1st December 2018 from his capital. On 1st September 2018 introduced additional of 20000 and withdrew 10000 on 1st January 2019 from his capital interest on capital is allowed at 6% calculate interest payable on capital to both the partners during the financial year 2018

Posted by Rani Das 4 years, 5 months ago

CBSE > Class 12 > Accountancy

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vinod singh and king were partners

Posted by Sarthkannan Kumaravelu 4 years, 5 months ago

CBSE > Class 12 > Accountancy

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Any four provision of partnership in the absence of partnership deed

Posted by Dipali Jaiswal 4 years, 5 months ago

CBSE > Class 12 > Accountancy

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What is meant by absorption of company? Discuss the main objectives of absorption

Posted by Kusum Gupta 4 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 4 years, 5 months ago

Absorption of Company is a way of business arrangement in which an existing company takes over the business of the another entity. The entity who gets absorbed goes into the liquidation process. The payment for such absorption to the old entity can be made either in cash or in shares or mixture of both.

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4. Following was the Balance Sheet of Deepak and Neeru sharing profits and losses in the ratio of 3:2 as at 31st March, 2018: Liabilities Creditors Mrs. Deepak's Loan Neeru's Loan Reserve Fund Deepak's Capital Neeru's Capital Assets Cash Stock Debtors Less: Provision for Doubtful Debts Furniture Plant Investments Profit and Loss A/c 38,000 10,000 15,000 2,500 18,000 11,500 6,000 19,000 4,000 28,000 10,000 5,000 83,500 20,000 1,000 10,000 8,000 83,500 The firm was dissolved on 31st March, 2018 and the following was the result: (a) Deepak took Investments at 8,000 and agreed to pay the loan of his wife. (b) The assets realised as follows: Stock 1,000 less; Debtors 18,500; Furniture 500 more; Plant 3,000 less. (c) Expenses of realisation were 600. (d) Creditors were paid off less 22% discount. Show Ledger Accounts to close the books of the firm.

Posted by Anisha Singh 4 years, 5 months ago

CBSE > Class 12 > Accountancy

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Y Ltd. forfeited 1,500 shares of Rs. 10 each (Rs. 7 called-up) for non-payment of the allot money of Rs. 4 per share including Rs. 1 as premium. Of these 1,000 shares were reissue M at Rs.6 per share as Rs. 7 called-up. Journalise the above transactions in the books of Y.

Posted by Rimjhim Singh 4 years, 5 months ago

CBSE > Class 12 > Accountancy

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T.S Grewal ques 33.?

Posted by Yashika Sachdeva 4 years, 5 months ago

CBSE > Class 12 > Accountancy

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From the following particulars calculate the amount of subscription to be credited to the Income and Expenditure Account for the year ended 31-3-2018: i. Subscriptions in arrears on 31-3-2017 Rs.1000 ii. Subscriptions received in advance at 31-3-2017 Rs.2,200 iii. Total subscription received during 2017-18 Rs.70,800 (including Rs.800 for 2016-17, Rs.2,400 for 2018-19 and Rs.600 for 2019-20) iv. Subscription outstanding for 2017-18 Rs.800

Posted by Neev Garg 4 years, 5 months ago

CBSE > Class 12 > Accountancy

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Current Ratio-2: 1, Acid Test Ratio - 0.75 : 1; Current Liabilities 1,50,000. Calculate Closing Stock.

Posted by Legend'S 50 Official 2 years, 11 months ago

CBSE > Class 12 > Accountancy

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Yash and karan were partners in an interior designer firm. Their fixed capitals were 600000 and 400000 respectively

Posted by Charchit Garg 4 years, 5 months ago

CBSE > Class 12 > Accountancy

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A, B and C were partners. Their fixed capitals were ₹60000, ₹40000, ₹20000 respectively

Posted by Poonam Kumari 4 years, 5 months ago

CBSE > Class 12 > Accountancy

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How to calculate consumed products

Posted by Rin Siya 4 years, 5 months ago

CBSE > Class 12 > Accountancy

2 answers

Preeti Dabral 4 years, 5 months ago

The formula for the consumption is From series (Quantity) = Consumption. Because the production quantity is 110, it falls into the "From 100 series." Therefore, the quantity is 20.

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Rohit Kumar 4 years, 5 months ago

Consumed product = opening stock+ stock during year - closing stock

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Joy and Bijoy started a partnership business on 1st April 2019 bringing a capital of 60,000 and 40.000 respectively. On 1st December , 2019, Bijoy gave a loan of ? 20.000 to the firm at an interest of 9% per annum. During the year they made a profit of 30,000. The other terms and conditions of the partnership were as follows The profits and losses would be shared in the ratio of initial capital. (1) Bijoy would be entitled to a salary @ 600 per month (i) Drawings of the partners were : Joy * 6,000 : Bijoy 9.000 Show Profit and Loss Appropriation Account

Posted by Raj Ranjan 4 years, 5 months ago

CBSE > Class 12 > Accountancy