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

Ask questions which are clear, concise and easy to understand.

Ask Question

What is the legancy

Posted by Khushi Rajput 4 years ago

CBSE > Class 12 > Accountancy

2 answers

Nishu Dahiya 4 years ago

The anything which we have got from our ancestors .

0Thank You

Gaurav Seth 4 years ago

Legacy is the amount received by the not-for-profit organisation as per the will of a deceased person. It is non-recurring in nature and, therefore, treated as capital receipt. Hence, legacy cannot be treated as the main source of income for an NPO.

It is not the main source of income for an NPO. It is treated as a capital receipt.

0Thank You

ANSWER

What is legancy

Posted by Khushi Rajput 4 years ago

CBSE > Class 12 > Accountancy

1 answers

Gaurav Seth 4 years ago

It is not the main source of income for an NPO. It is treated as a capital receipt.

0Thank You

ANSWER

Called up capital

Posted by Sourav Mal 4 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Sunaina and Tamanna are partners in a firm sharing profits and losses in the ratio of 3:2. Their Balance Sheet as at 31st March, 2020 stood as follows: Balance Sheet Liabilities Amount () Assets Amount () Capital Accounts: Plant & Machinery 1,20,000 Sunaina 60,000 Land and Building 1,40,000 Tamanna 80,000 1,40,000 Debtors 1,90,000 Current Accounts: Less: Provision for Sunaina 10,000 Doubtful debts (40,000) 1,50,000 Tamanna 30,000 40,000 Stock 40,000 General Reserve 1,20,000 Cash 30,000 Workmen's Compensation Reserve 50,000 Goodwill 20,000 Creditors 1,50,000 5,00,000 5,00,000 They agreed to admit Pranav into partnership for 1/Sth share of profits on 1st April, 2020, on the following terms: (a) All Debtors are good. (b) Value of land and building to be increased to 1,80,000. (c) Value of plant and machinery to be reduced by 20,000. (d) The liability against Workmen's Compensation Fund is determined at "20,000 which is to be paid later in the year. (e) Mr. Anil, to whom 40,000 were payable (already included in above creditors), drew a bill of exchange for 3 months which was duly accepted. (f) Pranav to bring in capital of 1,00,000 and 10,000 as premium for goodwill in cash. Prepare Revaluation Account, Partners Capital Accounts and Balance Sheet.

Posted by Shivangi Joshi 3 years, 4 months ago

CBSE > Class 12 > Accountancy

4 answers

Priyanshu Dimri 1 year, 6 months ago

Ans.

36Thank You

Ashutosh Chaudhary 3 years, 3 months ago

answer

17Thank You

Suhaani Sharma 3 years, 6 months ago

Nice paragraph

31Thank You

Ashish Joshi 4 years, 1 month ago

Do no like that

11Thank You

ANSWER

Brokers

Posted by Shekhar Singh 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Riya Choudhary 4 years ago

Bro. They are the intermediary of stock exchange ...who are connected to investors... They are registered in SEBI

0Thank You

ANSWER

A and B were partners in a firm sharing profit ration or losses epually with effect from 1st April,2019 they agreed to share profit in the ratio of 4:3 . Due to change in the profit sharing ratio, B's gain or sacrifice will be:

Posted by Muskan Sinha 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Shekhar Singh 4 years, 1 month ago

B gain 1/6

0Thank You

ANSWER

How do you close the Executors Account?

Posted by Avantika Deshpande 4 years, 1 month ago

CBSE > Class 12 > Accountancy

3 answers

Riya Choudhary 4 years ago

2 ways.. By transferring the balanace to the loan account in the name of executer or.. By paying it of fully in cash.. It would be mention in the question itself.. Btw ...not in syllabus..?

0Thank You

Manav Sharma 4 years, 1 month ago

Not in syllabus

1Thank You

Yogita Ingle 4 years, 1 month ago

Executor's account is prepared in case of death of a partner.The closing balance of deceased (dead) partner's capital account is credited to his executors account. It is basically prepared to tranfer the closing balance of deceased partner.(just as we prepare retiring partner's loan account in case of retirement)

0Thank You

ANSWER

When the business of the firm becomes , illegal the way of dissolution of the firm is

Posted by Dolly Pal 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Riya Choudhary 4 years ago

Compulsory dissolution

0Thank You

ANSWER

Make a project file 1.) { comprehensive project } • journal entries • ledger account • trial balance • Trading account and profit and loss account • balance sheet • ratio 2.) { specific ratio } • ratio analysis • cash flow statement

Posted by Krish Kumar 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Riya Choudhary 4 years ago

Bro ..this year we have to make only one project ..i.e, specific?

1Thank You

ANSWER

Ques: A B and C are partner in a firm sharing profits in the ratio of 3:2:1. On 31st March, 2019 their balance sheet was as follows'; Balance Sheet as on 31st March 2019 Liabilities Amount Assets Creditors 84000 Bank General reserve 21,000 Debtors capitals Stock A 60,000 Investment B 40,000 Furniture & fittings C 20,000 1,20,000 Machinery Total 2,25,000 Total On the above date, D was admitted as a new partner and it was decided that- Amount 17,000 23,000 1,10,000 30,000 10,000 35,000 2,25,000 1) The new profit-sharing ratio between A B C and D will be 2:2:1:1. 2) Goodwill of the firm was valued at 3 90,000 and D bought his share of goodwill premium in cash. 3) The market value of investment was * 24,000 4) Machinery will be reduced to * 29,000. 5) A creditor of 3,000 was not likely to claim the amount and hence to be written off. 6) D will bring proportionate capital so as to give him 1/6 share in the profits of the firm. Prepare revaluation account, partner's capital accounts and the balance sheet of the reconstituted firm.

Posted by Krati Agarwal. 4 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Accounts mai kitna syllabus ho gaya hai class12 ka

Posted by Vinod Kumar 4 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Human Development Index

Posted by Azad Yadav 4 years, 1 month ago

CBSE > Class 12 > Accountancy

2 answers

Akash Rajput 4 years, 1 month ago

Thanks

0Thank You

Meghna Thapar 4 years, 1 month ago

The Human Development Index is a statistic composite index of life expectancy, education, and per capita income indicators, which are used to rank countries into four tiers of human development. The Human Development Index (HDI) is a scale that uses statistics for life expectancy, education, and per capita income to rank countries into four tiers; “very high, high, medium, low”. The HDI was created to emphasize that people and their capabilities should be the ultimate criteria for assessing the development of a country, not economic growth alone. ... The HDI uses the logarithm of income, to reflect the diminishing importance of income with increasing GNI.

0Thank You

ANSWER

A and B are partners in a firm with profit share ratio 2:1 and they balance sheet as on 31 march 2015 was as follows.

Posted by Sujan Raksam 4 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

X,y,z are partner

Posted by Dheeraj Thakur 4 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

X Ltd. took over assets of Rs. 30,00,000 and liabilities of Rs. 5,00,000 of Y Ltd. X Ltd. paid the purchase consideration by issuing 75,000 6% Debentures of Rs. 10 each at a premium of Rs. 20 each and Rs. 1,50,000 by accepting a Bills of exchange in favour of Y Ltd. Calculate purchase consideration and pass necessary Journal entries in the books of X Ltd.

Posted by Punit Sharma 4 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Karoo kam

Posted by Anmol Gupta 4 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Alok Ltd. forfeited 300 shares of 10 each fully called up for the non- payment of allotment money of 3 per share and first & final call money of 4 per share. Out of these shares, 250 shares were reissued to Shyam for a total payment of 2,000. Give journal entries for forfeiture and reissue.

Posted by Nirmala Dubey 3 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 3 years, 7 months ago

3Thank You

ANSWER

New Partner can bring capital in cash or kind? True or false

Posted by Mahendra Karpat 4 years, 1 month ago

CBSE > Class 12 > Accountancy

2 answers

Nishu Dahiya 4 years ago

False New partner can bring capital in either in cash or kind or both

0Thank You

Kavya Baranwal 4 years, 1 month ago

False

0Thank You

ANSWER

A and B who shared profits in the proportion of 5:3 had capitals of Rs 70 000 and Rs 40 000 respectively.They agree to admit C into partnership for 1/10 th share in future profits.C brings Rs 30 000 as capital and is unable to bring Rs 1 600 as his share of goodwill in cash.Give journal entries.

Posted by Arpit Raghuwanshi 4 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

saregama ltd invited application

Posted by Lad Singh 4 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

club has 500 members each paying annual subscription received in advanced for the current year Rs. 10,000. Subscription received during the year Rs. 30,000. Calculate the amount of outstanding subscription

Posted by Aniket Singh 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Shashi Ramachandran 4 years, 1 month ago

Annual Subscription is missing in the question.

500 x Annual subscription - 10,000 (received in last year as advance)- ₹30,000(received during the year) = Outstanding Subscription

2Thank You

ANSWER

Jjk

Posted by Kanika Singh 4 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Outstanding expenses are brought down to ye revolution me Kaha jayenge

Posted by Sonu Kashyap 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Shashi Ramachandran 4 years, 1 month ago

Outstanding expenses -------Liability decrease ------------profit ------------ Cr. side of Revaluation A/c

Note: Revaluation is nominal account. Nominal Account rule says 'Debit all losses and expenses and Credit all gain & income'

0Thank You

ANSWER

The bad debts written off 40000. Balance sheet me 80000 debtor hai. To revolution me kya hoga

Posted by Sonu Kashyap 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Shashi Ramachandran 4 years, 1 month ago

Bad debt written off -------Asset (Debtor) decrease ------------Loss ------------ Dr. side of Revaluation A/c

Note: Revaluation is nominal account. Nominal Account rule says 'Debit all losses and expenses and Credit all gain & income'

0Thank You

ANSWER

What do you mean by lock in period under ESOP?

Posted by Abhay Srivastava 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Yogita Ingle 4 years, 1 month ago

Start-up Esops typically have a 3-4 years' vesting period with lock-in period of 12-18 months (you cannot sell shares for this much time after allotment). Apart from this, if you take up the Esop offer, ensure that all documentation is in place and the value of shares is computed in the right manner.

1Thank You

ANSWER

Formula of normal rate return

Posted by Sonu Kashyap 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Nidhi Maroria 4 years, 1 month ago

Normal profit =capital employed ×normal rate of return /100

0Thank You

ANSWER

A manager get 5% commission on net profit after charging such commission .gross profit rs.580000 and expenses of indirect nature other than manager commission are 160000 commission will be ?

Posted by Sonu Kashyap 4 years, 1 month ago

CBSE > Class 12 > Accountancy

2 answers

Rohit Yadav 4 years, 1 month ago

420000 * 5/105 = 20000

0Thank You

Vishal Kumar 4 years, 1 month ago

Nahi pta bhai mujhe hi??

0Thank You

ANSWER

In absence of partnership . interest on loan of partner is allowed

Posted by Sonu Kashyap 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Yogita Ingle 4 years, 1 month ago

As per Partnership Act, in the absence of partnership agreement, interest on partners loan is allowed at 6% p.a. A and B having contributed larger amounts of capital, desire that the profits should be divided in the ratio of their capital contribution but C does not agree.

2Thank You

ANSWER

What is shares of promoters

Posted by Kishan Agarwal 4 years, 1 month ago

CBSE > Class 12 > Accountancy