CBSE > Class 12 > Accountancy | CBSE Board | Homework Help

The right answer will be. b). Shall be paid to the firm. Explanation: If a partner carries on a business that is similar to that of the firm in competition with the firm and earns profit from it the profit earned from such business shall be paid to firm. Hope it will help you.

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Prepare a Cash-Flow Statement from the following Balance Sheets of Dry Fruits Ltd.: Particulars Note No 31-03-2020 31-03-2019 I. EQUITY AND LIABILITIES: 1. Shareholders Funds: (a) Share Capital (b) Reserve and Surplus 2. Non-Current Liabilities: (a) Long-term Borrowings 3. Current Liabilities (a) Trade Payables TOTAL II. ASSETS: 1. Non-Current Assets:(a) Fixed Assets 2. Current Assets: (a) Short term Investments (Marketable Securities) (b) Inventories (c) Trade Receivables (d) Cash & Bank Balance TOTAL 3 1,20,000 22,000 61,000 40,000 2,44,000 1,30,000 15,000 80,000 29,000 1,00,000 Notes: (1) Reserve & Surplus: General Reserve Profit & Loss Balance (2) Long-term Borrowings: 12% Mortgage Loan (3) Fixed Assets: Machinery Less: Accumulated Depreciation 31-03-2020 R 24,000 60,000 1,35,000 1,45,000 25,000 31-03-2019 R (8,000) 1,00,000 1,60,000 30,000 Additional Information: I. Interest paid on mortgage loan amounted to R14,100. II. Interim Dividend paid during the R20,000. III. Machinery costing R40,000 (accumulated depreciation thereon being R18,000) was sold for R5,000.

Posted by Harsh Yadav 1 year, 10 months ago

CBSE > Class 12 > Accountancy

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The balance sheet of suman and Raman who shared profit in the ratio 3:2 as on 31st march 2009 Creditors-15000. Cash-5000 General reserve-25000. Debtors-66000

Posted by Poornima Gugan 4 years ago

CBSE > Class 12 > Accountancy

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Padam ltd. With an authorised capital of rs 200000

Posted by Rahul Chauhan 4 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Akshali Mittal 4 years, 7 months ago

Please type full question so that we can easily gave solution

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WHAT IS DEALT

Posted by Prince Gurjar 4 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 4 years, 7 months ago

past simple and past participle of deal

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Which of the following items is not dealt through profit and loss

Posted by Prince Gurjar 4 years, 7 months ago

CBSE > Class 12 > Accountancy

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From the following Balance Sheet of Jackie Ltd as at 31st March,2019, prepare a Cash Flow Statement: Jackie Ltd Balance Sheet as at 31st March,2020 Particulars Note Number 31st March,2020 (₹) 31st March,2019 (₹) I EQUITY AND LIABILITIES 1. Shareholders’ Funds a. Share Capital b. Reserves and Surplus 2. Non-Current Liabilities Long-term Liabilities 3. Current Liabilities a. Short-term Borrowings b. Short-term Provisions Total II ASSETS 1. Non-Current Assets Fixed Assets- Tangible 2. Current Assets a. Trade Receivables b. Cash and Cash Equivalents c. Short-term Loans and Advances Total 1 2 3 4 5 5,00,000 1,00,000 2,50,000 1,50,000 1,25,000 11,25,000 6,00,000 2,75,000 50,000 2,00,000 11,25,000 5,00,000 (25,000) 1,50,0

Posted by Darshan Mehta 4 years, 7 months ago

CBSE > Class 12 > Accountancy

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Diffentiate between income and expenditure A/c and profit and loss a/c

Posted by Prabhjot Bhatia 4 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 4 years, 6 months ago

Income and expenditure account is prepared by not -for profit organisation whose aim is not to earn money. Profit and loss account is prepared by business whose aim is to earn money. Profit and loss account is prepared on the basis of trial balance and some other information.

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Following is the Receipts and Payments Account of Mumbai Modern Club for the year ended 31st March 2018: Receipts Rs. Payments Rs. To Balance b/d To Subscriptions To Sale of old material To Sale of old Sports equipment To Entrance Fee To Life Membership Fee To Donation for Auditorium To Interest on Investment 32,000 1,82,000 13,000 45,000 1,20,000 80,000 42,000 8,000 By Wages and Salaries By Upkeep of Grounds By Stationery By Audit Fee By Sports equipment By Investments By Newspaper and Journals By Postage Expenses By Repairs By Balance b/d 1,50,000 18,000 3,000 14,000 1,92,000 1,20,000 5,000 2,000 4,000 14,000 5,22,000 5,22,000 Additional Information: (a) On 31st March 2017, the club possessed a building of Rs. 2,00,000 and sports equipments of Rs. 64,000. The club sold 3/4th of these equipments during the year. Provide depreciation on building and sports equipments @ 10% and 5% respectivel The stock of stationery in the beginning and at the end are Rs. 1,600 and Rs. 2,400 respectively. (c) Subscription due as on 31st March 2017 and 31st March 2018 are Rs. 32,000 and Rs. 28,000 respectively. Subscription of Rs. 5,000 is still outstanding for Rs. 2016-17. (d) Subscription received in advance on 31st March 2017 and 31st March 2017 and 31st March 2018 are Rs. 15,000 and Rs. 18,000 respectively. Prepare Income and Expenditure Account for the year ended 31st March 2018 and Balance Sheet as on that date

Posted by Prachi Garg 4 years, 7 months ago

CBSE > Class 12 > Accountancy

2 answers

Prachi Garg 4 years, 7 months ago

Plzz explain in detail..

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Anil Yadav 4 years, 7 months ago

32000

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A b and c are three partner in a firm sharing ratio in the 3:1:1, net profit for the year ending March 31 2020 30000 was distributed among the partner without providing for the following transaction a interested on capital@10 pa interest on drawing a 350 b 250 c 150 salary a5000 b 7500 commission to A On 1st April 2019 capital of A A 25000 b 20000 c 15000

Posted by Muskan Goswami 4 years, 7 months ago

CBSE > Class 12 > Accountancy

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Ram ang Shyam are partners

Posted by Palak Jain 4 years, 7 months ago

CBSE > Class 12 > Accountancy

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Ram and Shyam

Posted by Palak Jain 4 years, 7 months ago

CBSE > Class 12 > Accountancy

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A and B are partner sharing profits in ratio 3:2 .They admitted c as a new partner into the firm for 3/7 profit which he take 2/7 from A

Posted by Prabhjot Bhatia 4 years, 7 months ago

CBSE > Class 12 > Accountancy

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Akhil ans Bimal are partner sharing profit in the ratio of 2:3 Akhil gave loan to the firm of ₹100000 on 1st October,2020. On the same date ,the firm gave loan to Bimal of ₹100000 . They do not have an agreement as to interest . Akhil had also given the personal properly for firm's godown at a monthly rent of ₹5,000. Firm earns profit of ₹1,03,000(before above adjustments) for the year ended 31st March ,2021.Show the distribution of profit for the year.

Posted by Shreya Gupta 4 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Shubhi Gupta 4 years, 7 months ago

Make P&L A/c To I.O.L by profit 1,03,000 Akhil - 3000 Bimal- nil To Rent 60,000 To net profit 40,000 Make P&L App. A/c In cr. Side By net profit 40,000 In dr. side To divisable profit Akhil - 40,000 *2/5 = 16000 Bimal - 40,000*3/5= 24000 W.N. 1. Calculation of I.O.L I.O.L = loan amt.*rate*time/100*12 Akhil - 1,00,000*6*6/100*12 =3000 Rent = 5000*12 = 60,000

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X and Y entered into partnership on 1st April, 2018. Their capitals as on 1st April, 2020 were \ 2,00,000 and *1,50,000 respectively. On 1st October, 2020, X gave

Posted by Rishita Kashyap 4 years, 7 months ago

CBSE > Class 12 > Accountancy