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From the following Balance Sheets of Amrit Limited as at March 31, 2016 and 2017, prepare a comparative balance sheet: Particulars Note No. March 31. 2017 (Rs.) March 31. 2016 (Rs.) 15,00,000 14,00,000 16,00,000 47,00,000 I. Equity and Liabilities 1. Shareholders' Funds a) Share capital b) Reserve and surplus 2. Non-current Liabilities 3. Current liabilities Long-term borrowings Trade payables Total Assets 19,00,000 13,00,000 15,00,000 16,00,000 14,00,000 47,00,000 II. 1. Non-current assets a) Fixed assets - Tangible assets Intangible assets 2. Current assets - Inventories - Cash and Cash Equivalents Total

Posted by Rudra Dixit 4 years, 6 months ago

CBSE > Class 12 > Accountancy

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ANSWER

From the following Balance Sheets of Amrit Limited as at March 31, 2016 and 2017, prepare a comparative balance sheet:

Posted by Rudra Dixit 4 years, 6 months ago

CBSE > Class 12 > Accountancy

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ANSWER

Account Hindi medium

Posted by [email protected] [email protected] 4 years, 6 months ago

CBSE > Class 12 > Accountancy

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Artnsastra

Posted by [email protected] [email protected] 4 years, 6 months ago

CBSE > Class 12 > Accountancy

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10. Akash and Neha started business on 1st April, 2019 with capitals of Rs.3,00,000 and 2,00,000 respectively. According to the partnership Deed, Neha is to get salary of Rs.5,000 per month, Akash is to get 10% commission on profit after allowing salary to Neha and interest is to be allowed on Capitals @6 % p.a. Profit sharing ratio between the two Partners is 3:2. During the year, the firm earned profit of Rs.2,50,000. Akash had given loan of Rs.1,00,000 to the firm on 1" April,2019. Interest on loan was allowed @8% p.a. Neha was given loan of Rs.2,00,000 on which interest was charged Rs.11,000. Manager was to be allowed commission of Rs.3,000. Pass journal entries for distribution of profit and prepare profit and loss Appropriation Account. The firm closes its books of account on 31st March every year.

Posted by Mahek Patel 4 years, 6 months ago

CBSE > Class 12 > Accountancy

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Ram & Sham are partners sharing profits & losses in ratio of 3:2. Ram being non-working partner contributes Rs. 20,00,000 as his capital & Shyam being a working parties, gets a salary of Rs. 8000 per month. As per partnership deed interest is paid @ 8% p.a. & salary is allowed. Profits before providing that for year ending 31st March 2015 were Rs. 80,000. Show the distribution of profits.

Posted by Divyanshi Kapoor 4 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Preeti Dabral 4 years, 6 months ago

Profit & Loss Appropriation Account for the year ended 31.3.15
Dr. Cr.

Particulars	Rs.	Particulars	Rs.
To Ram’s Capital A/c (Interest) To Shyam’s Capital A/c (Salary)	50,000 30,000	By Profit & Loss A/c (Net Profits)	80,000
80,000	80,000

working Notes: Interest on capital == Rs. 1,60,000
Salary = =Rs. 96,000
Total 2,56,000
Ratio of Interest & Salary = 1,600,000 : 96,000 = 5 : 3
Profits share given to Ram = Rs. 50,000
Shyam = = Rs. 30,000

ANSWER

The average profit earned by a firm is Rs. 60,000 including abormal income of Rs. 4,000 on recurring basis. Firm had a fixed assets of Rs. 3,00,000 and current assets of Rs. 60,000. Its creditors and other liabilities were Rs. 1,40,000. Calculate Goodwill of the firm based on 3 times of super profit if the normal rate of earnings is 15%

Posted by Shubh Agarwal 4 years, 6 months ago

CBSE > Class 12 > Accountancy

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ANSWER

A, B and C are partners in a firm sharing profits and losses equally. On 1st April, 2018 their fixed capitals were 8,00,000, 76,00,000 and 6,00,000 respectively. On 1st October 2018, A advanced 1,00,000 to the firm whereas C took a loan of 1,50,000 from the firm on the same date. It was agreed among the partners that C will pay interest @ 10% p.a. Profit for the year ended 31st March, 2019 amounted to 4,20,000 before allowing or charging interest on loans. Pass journal entries for interest on loans and prepare Current Accounts of the partners.

Posted by Deep Prakash 4 years, 6 months ago

CBSE > Class 12 > Accountancy

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ANSWER

Given below the balance sheet of krishna and suresh

Posted by Chirag Malik 4 years, 6 months ago

CBSE > Class 12 > Accountancy

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ANSWER

Short term investment of rs 20000 sold at par.it will result in which flow of cash?

Posted by Kanchi Sharma 4 years, 6 months ago

CBSE > Class 12 > Accountancy

2 answers

Preeti Dabral 4 years, 6 months ago

No flow of cash takes place because ‘Short term deposits in Banks’ is a part of cash equivalents.

Sachin Mishra 4 years, 6 months ago

Investing activities

ANSWER

A company has loan for 40,00,000 as part of its capital employed . The interest payable on loan is 10 % and R.O.I of co . is 15 % .I.T. is 50%. Calculate the amount of gain to shareholder because of loan obtained by company

Posted by Nav Kaur 4 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

increase in the price of petrol there will be a cars demand curve in

Posted by Gaurav Shahwal 4 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Preeti Dabral 4 years, 6 months ago

When the price of petrol increase, demand of cars will "decrease". If the price of the goods rise then their demand will fall . In other words , The higher the price , The lower the quantity demanded . Demand curve is downward from left to right .

ANSWER

A,B and C were trading in partnership on 31st march ,2017 the balance sheet of the firm stood as follows

Posted by Charles Lakra 4 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

A and B are partner sharing profit in ratio of 2:3their balance sheet shows machinery at 200000 stock 80000. and debtor at 160000 C admited and new profit sharing ratio is agreed at 6:9:5 machinery is revalued at 140000 and a provision is made for doubtful debt @5%A's share in loss on revaluation amounted to 20000 revalued value of stock will be

Posted by Raja Verma 4 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Kisi ke paas T. S. Grewal h class 12 Accounts ki Please Batayein ?

Posted by Akhil Singh Sengar 4 years, 6 months ago

CBSE > Class 12 > Accountancy

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ANSWER

How will you show the following information in the financial statements of the Vinod Education Trust on 31st March, 2020 . Particulars Amount Tournament fund 90,000 Tournament fund investment 90,000 Income from tournament fund investment 12,000 Tournament expenses 10,000 Additional information: interest accrued on tournament fund investment Rs.3,000.

Posted by Komal Sain 4 years, 6 months ago

CBSE > Class 12 > Accountancy

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ANSWER

Calculate the amount received on allotment. Suresh limited issued 50000 shares of rupees 10 each at a a premium of rupees 2 per share. Payable as rupees 3 on application, rupees 5 on allotment including premium and balance on equal two installment over calls. Application received for 92000 share which is allotted as -- Application 40000 -allotted 30000 shares. Application 40000-allotted 20000 shares. Application 12000-allotted nil. (Category 1) Suresh who applied for 2000 share did not pay any money other than application. (Category 2) Chandra who was allotted 800 shares paid the call money due along with allotment.

Posted by Abid Raja 4 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Abid Raja 4 years, 6 months ago

Any body knows please pass the journal entries as soon as possible.

ANSWER

On 1-42017, X Ltd issued 40,000 8% debentures of ₹ 100 each at a discount of 3%redeemable at a premium of 5% after three years. The amount was payable as follows:- On application ₹ 50 per debenture. Balance on allotment. X Ltd. has a balance of ₹ 1,50,000 in securities premium Reserve and ₹ 80,000 in General reserve loss for the year was ₹ 50,000. Pass the journal entries for issue of debentures and writing off the oss on issue of debentures.

Posted by Vivaan Raj 4 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Varun Tiwari 4 years, 6 months ago

answer

ANSWER

X and y share profit in ratio of 5:3 their balance sheet as 31 March 2021 was - the admit z into the partnership With 1/8 share in profir

Posted by Jasleen Kaur 4 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

The following balance sheet royal institute as at 31st March 2017 and 2016 prepare a comparative balance sheet

Posted by Lincy Modi 4 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

A,b and C were partners in a firm having capital of rupees 50000 rupees 50000 and rupees 100000 respectively their current account balance for a rupees 10000 b rupees 5000 and c rupees 2000 according to the partnership deed the partners for and tilt to an interest on capital at the rate 10% per annum sebring the work partner was also entitled to a salary of rupees 2010 the profits were to be divided us a 1st rupees 20000 in proportion to their capital be next rupees 30000 in the ratio 5 ratio 3 ratio 2 3 remaining profits to be said equally the form on net profit of rupees 172034 charge any of the above items of a profit and loss appropriation account and pass necessary journal entry for the appropriation of profits

Posted by Aditi Rajak 4 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

A and b are partner in the ratio e is to 2

Posted by Nandini Rathi 4 years, 6 months ago

CBSE > Class 12 > Accountancy

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ANSWER

A , B and C are partners with fixed capitals of rs.6,00,000 , rs. 4,80,000 and 4,00,000 respectively. The balance of current accounts on 1st April, 2011 were A rs. 30,000(cr.) ,B rs. 12,000(cr.) and C rs. 10,000 (dr.) . A advanced rs. 80,000 on October 1,2011 . The partnership deed provided for the following: Interest on capital at 5% p.a. Interest on drawings at 6% p.a. each partner drew rs. 40,000 on October 1,2011. Rs.80,000 is to be transferred to reserve account. Profit and loss to be shared in the proportion of 3:2:1 upto rs. 1,20,000 and above rs. 1,20,000 equally. Net profit of the firm for the year ended 31st March, 2012 before above adjustments was rs. 4,00,000. From the above information, prepare profit and loss appropriation account , capital and current accounts of the partners .

Posted by Chahal Mehak 4 years, 6 months ago

CBSE > Class 12 > Accountancy

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ANSWER

Veer Ltd. invited applications for issuing 1,00,000 Equity Shares of 500 each at a premium of 100 per share. The amount was payable as: On application200 per share On allotment 300 per share (including premium) On first and final call balance of the amount .Applications for 2,00,000 shares were received. Applications for 50,000 shares were rejected and the application money was refunded. Pro rata allotment was made to the remaining applicants. Amount overpaid with application was adjusted towards sums due on allotment. All calls were made and were duly received except the first and final call on 100 shares allotted to Vasu. These shares were forfeited. The forfeited shares were reissued to Ravi for 60,000 as fully paid-up.

Posted by Neelendra Chandel 4 years, 6 months ago

CBSE > Class 12 > Accountancy

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ANSWER

which of the following items is not take into account while computing quick ratio. (a) bank balance (b) bank loan (c) cash

Posted by Aman Jamwal 4 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Aman Jamwal 4 years, 6 months ago

Answer in 5 minutes

ANSWER

Sunaina and tamanna were partners in a firm sharing profits and losses in the ratio 3:2

Posted by Nisha Kumari 4 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Sita and Gita are partners in a firm. Balances of their capital accounts as on 1st April, 2018 were as follows; Sita Rs. 40,000 and Gita Rs 30,000. Sita introduced Rs. 5000 as an additional capital on 1st October 2018 and Gita introduced Rs. 7,500 as additional capital on 1st November, 2018. Sita drew capital amounting to Rs. 7,500 on 1 st January 2019and Gita withdrew capital amounting Rs. 2,500on 1st February, 2019. They have further agreed to allow interest on capital @12%p.a. books of the accounts of the firm are to be closed on 31st march 2019. Calculate interest to be allowed on partner’s capital.

Posted by Aryan Gupta 2 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

First chapter ka class 12th first chapter 51 exercise question

Posted by Dharmendra Bhadauria 4 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

from the following balance sheet of mansi ltd of 31stMarch 2017 and 31st march 2016.prepare cash flow statement

Posted by Darshsna Sridharan 4 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Rohit Tewatia 1 year, 3 months ago

Where is answer

ANSWER

Tournament fund as on 1st April 2016-- 50,000; Tournament expenses incurred- 20,000; Donation received for Tournament fund during the year- 7,500. 9% Tournament fund Investment as at 31st March 2016 - 37,500; Interest received on Tournament fund Investment - 2,500.

Posted by Harshita Bansal❤️ 4 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

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