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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 3 years, 6 months ago

CBSE > Class 12 > Accountancy

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A and B are partners in a firm sharing profits and losses in the ratio of 3:2.A new partner C is admitted.A surrender 1/15 share of his profit in favour of C and B surrender 6/15 of his share in favour of C. Calculate new ratio.

Posted by Anshika Verma 3 years, 6 months ago

CBSE > Class 12 > Accountancy

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From the given extracts obtained from the receipt and payment account of cheema club for the year ended 31march 2019 and additional information calculate the amount of subscription in arrears as on 31 st March 2019 Subscription Received Rs 2017-18 10000 2018-19 120000 2019-20 7000 Additional information:The club had 130 members paying an annual subscription of Rs. 1000 each. Subscription in arrears at the begging of the year were Rs.16000. 10 members paid subscription for 2018-19 in 2017-18

Posted by Pratiksha Yadav 3 years, 4 months ago

CBSE > Class 12 > Accountancy

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Khushi Yadav 2 years, 10 months ago

sallo answer tho de dete pillo

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Manish Pandat 3 years, 5 months ago

whhere is answer

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H Ltd forfeited 500 shares of Rs 100 each issued at 40% premium(Rs 70 called up) on which application & allotment of Rs 80 each (including premium) has been received. Out of these, 200 shares were issued for Rs 65 per share( Rs 70 paid up). What is the amount to be transferred to Capital Reserve?

Posted by Maansee Soni 3 years, 6 months ago

CBSE > Class 12 > Accountancy

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Shreyansh Jain 3 years, 6 months ago

Is this que is right ?

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Rajendra Mohan and Radhey Mohan are partners and they had Rs.40,000 and Rs.60,000 in st capital accounts as on 1 April, 2017 respecƟvely. Rajendra Mohan paid in further Rs.5,000 on 1.11.2017 and another Rs.6,000 on 15.2.2018. Compute the interest on capital to be allowed to partners assuming the rate of interest to be 6% p.a

Posted by Anas Ansari 3 years, 6 months ago

CBSE > Class 12 > Accountancy

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Ram, Mohan and sohan were partners Sharing profit ratio 2:1:1 ram withdrew ₹3000 every month

Posted by Kiran Nirwan 3 years, 6 months ago

CBSE > Class 12 > Accountancy

2 answers

Zidi Pathan 3 years, 4 months ago

thanku

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Gurmanbir Singh Ladher 3 years, 6 months ago

300000

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The partnership agreement of Mandeep, Nikhil and Om provides that : (a) Profits will be shared by them in the ratio of 2 : 2 : 1. (b) Interest on capital to be allowed @ 6% per annum. (c) Interest on drawings to be charged @ 3% p.a. (d) Nikhil to be given a salary of Rs. 500 per month. (e) Nikhil’s guarantee to the firm that the firm would earn a net profit of at least Rs. 80,000 per annum and any shortfall in these profits would be personally met by him.

Posted by Pratham Jain 3 years, 6 months ago

CBSE > Class 12 > Accountancy

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Complete this journal by filling missing figures: Date Particulars L.F. Debit (Amt.) Credit (Amt.) Share Capital A/c Dr. To Share Forfeiture A/c To Calls in Arrears A/c (Being 5,000 shares forfeited face value Rs.10 for non-payment of final call of Rs.15,000) Bank A/c Dr. Share Forfeiture A/c Dr. To Share Capital A/c (Being 125 forfeited shares reissued @9 per share) Share Forfeiture A/c Dr. To Capital Reserve (Being Gain on reissue transferred) ? ? ? ? ? ? ? ?

Posted by Shally Rana 3 years, 6 months ago

CBSE > Class 12 > Accountancy

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Madhu , Neha and Tina were partner in a firm

Posted by Prabhjot Bhatia 3 years, 6 months ago

CBSE > Class 12 > Accountancy

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What is not for profit organization

Posted by Vinod Roy 3 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 3 years, 5 months ago

A nonprofit organization, also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in contrast with an entity that operates as a business aiming to generate a profit for its owners.

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Why gaining partner compensate to sacrificing partner?

Posted by Neev Garg 3 years, 6 months ago

CBSE > Class 12 > Accountancy