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

A capital reserve is an account in the equity section of the balance sheet that can be used for contingencies or to offset capital losses. It is derived from the accumulated capital surplus of a company, created out of capital profit

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Himanshu Chaudhary 4 years, 1 month ago

Reserve Capital is defined as a part of subscribed uncalled capital, which will not be called up until and unless the company goes into liquidation. In other words, it is the portion of share capital that is reserved by the company and which will be utilized only on the happening of the said event.

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One help in performing job Better,whereas other concept

Posted by Mohit Khati 4 years, 1 month ago

CBSE > Class 12 > Accountancy

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How to adjust insurance claim in cash flow statement

Posted by Gaurav Singh Gaur 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Khushi Dwivedi 4 years, 1 month ago

Insurance claim received against loss of stock or profits is extraordinary operating cash inflow. Insurance claim received against loss of fixed assets is extraordinary investing cash inflow. Cash flow for tax payments / refund should be classified as cash flow from operating activities.

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Kanika, disha,kabir were partners in the ratio 2:1:1

Posted by Sourav Sharma 4 years, 1 month ago

CBSE > Class 12 > Accountancy

2 answers

Harsh Singh 4 years, 1 month ago

Fixed asset a/c. Dr.. 60000 Stock a/c. Dr.. 20000 To revaluation a/c Cr.. 80000 Revaluation a/c. Dr.. 80000 To kanika's capital a/c Cr.. 40000 To disha's capital a/c Cr.. 20000 To kabir's capital a/c Cr.. 20000

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Mahabeer Singh Aswal 4 years, 1 month ago

Please write full questions

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Chapter 5. Question 16

Posted by Hritik Kaushal Professional 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Tsering Motup 4 years, 1 month ago

Bsbsbs

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What is mining

Posted by Isha Narwal 4 years, 1 month ago

CBSE > Class 12 > Accountancy

3 answers

Harsh Pawar 4 years, 1 month ago

In Accounting for Mining, we describe how to account for the costs incurred at each phase of a mine's development, with particular attention to the more complex topics of asset retirement obligations and environmental obligations.

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Harsh Pawar 4 years, 1 month ago

Sorry its wrong?

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Harsh Pawar 4 years, 1 month ago

the process or industry of obtaining coal or other minerals from a mine.

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format for profit and loss appropriation account

Posted by George Joel 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Kavya Baranwal 4 years, 1 month ago

Consider Ncert or any reference book

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FORMAT FOR PROFIT AND LOSS APPROPRIATION ACCOUNT

Posted by George Joel 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Gaurav Seth 4 years, 1 month ago

It is an extension of profit and loss account and shows appropriation or distribution of profits. After the profit and loss account has been prepared, the profit for the year is transferred to the profit and loss appropriation account. This account will show how the net profit or net loss of the firm is being appropriated among the partners. It is a nominal account in nature.

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Want journal entry of business started with cash Rs 20,000

Posted by Abhinav Jha 4 years, 1 month ago

CBSE > Class 12 > Accountancy

2 answers

Abhay Rather 4 years, 1 month ago

Cash A/c Dr 20000 To capital A/C 20000

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Arjun Kumar 4 years, 1 month ago

Cash A/c Dr. 20,000 To Capital A/c 20,000 (Being business started with cash.)

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Sachin and dravid are partners in a firm sharing profit and losses in the ratio 3:2 their balance sheet as follows

Posted by Keerthana.A Keerthana 4 years, 1 month ago

CBSE > Class 12 > Accountancy

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Rex, Tex and Flex are partners in a firm in the ratio of 5:3:2. As per their partnership agreement, the share of deceased partner is to be calculated on the basis of profits and turnover of previous accounting year. Tex expired on 31st December 2019. Turnover till the date of death was `18,00,000. Their profits and turnover for the year 2018-19 amounted to `4,00,000 and `20,00,000 respectively. An amount of `____________will be given to his executors as his share of profits till the date of death.

Posted by Khushal Gohel 4 years, 1 month ago

CBSE > Class 12 > Accountancy

2 answers

Kiran Kaur 4 years, 1 month ago

1,08,000

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Ishita Gupta 4 years, 1 month ago

1,08,000

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Following is the receipt and payments account of literacy club for the year ended 31st march.2018. Receipt and payments account Receipts To balance b/d 19550 To subscription 2016-17. 12000 2017-18 26500

Posted by Gungun Gupta 4 years, 1 month ago

CBSE > Class 12 > Accountancy

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Vxl Limited invited applications for issuing 50000 equity shares of rupees 10 each at a premium of 8 per share the amount was table as follows an application 4 rupees Per share including two premium on allotment 6 per share including three premium on first call rupees 5 pershare including 1 premium and on second and final call balance amount. The issue was fully subscribed Gopal a shareholder holding 200 years didn't pay the allotment money and Madhav a holder of 400 years paid his entire share money along with the allotment money Gopal share were immediately forfeitedafter allotment afterwards the first call was made Krishna a holder of hundred share failed to pay the first call money and girdar holder of 300 years paid second call money also along with the first call Krishna shares were forfeited immediately after the first call second and final call was made afterwards and was duly received all the forfeited shares were issued at rupees 9 per share fully paid up pass journal entry

Posted by Savika Bansal 4 years, 1 month ago

CBSE > Class 12 > Accountancy

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Ques – 7 A and B hare the profits of a business in the ratio of 5 : 3. They admit C, a differently abled person, who is an MBA from Delhi University into the firm for 1/4th share in the profits to be contributed equally by A and B. On the date of admission of C, the Balance Sheet of the firm was as follows: Liabilities Rs. Assets Rs. A’s Capital 40,000 Machinery 30,000

Posted by Arjun Nair 4 years, 1 month ago

CBSE > Class 12 > Accountancy

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Debtors are included in quick ratio or not

Posted by Deepu Deepu 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Arjun Kumar 4 years, 1 month ago

Yes, it is a part of current asset.

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Sachin and dravid are partners

Posted by Jaishree.A A 4 years, 1 month ago

CBSE > Class 12 > Accountancy

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A ,B,C are patterns ,profit sharing ratio is 3.2.2 , but A retired.so calucate gaining ratio

Posted by Sammi Saini 4 years, 1 month ago

CBSE > Class 12 > Accountancy

3 answers

Kiran Kaur 4 years, 1 month ago

2:2

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Abhinav Jha 4 years, 1 month ago

2:1

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Incredible Suri 4 years, 1 month ago

2:2 or 1:1( gaining ratio= ratio between B and C)

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A, M and N were partners sharing profits and losses in the ratio of 5:3:2. On 3 - 2016 , their Balance Sheet was as follows: Amount 26,500 23,500 50,000 40,000 2,40,000 A retired on 1-4-2016. For this purpose, following adjustments were agreed upon: Liabilities Trade creditors Employees provident A's Capital M's Capital N's Capital Fund Assets Bank Debtors a Amount 25,000 30,000 Stock Fixed Assets 1,20,000 Advertisement Exp 10,000 2,40,000 55,000 Goodwill of the firm was to be valued at 2 years' purchase of the average profits of 3 completed years preceding the date of retirement. The profits for previous years were: 2013 - 14 - Rs 55,000; 2014-15-Rs.65.000;2015-16-Rs 60,000. b. Fixed assets were to be increased by R$ 25,000 c. Stock was overvalued by Rs 5,000 d. Rs 20,000 were immediately paid to A and the balance was transferred to his loan account Prepare Revaluation Account and the Partners' Capital Account

Posted by Sanskriti Gupta 4 years, 1 month ago

CBSE > Class 12 > Accountancy

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Pls provide me notes of account

Posted by Deepak Nayak 4 years, 1 month ago

CBSE > Class 12 > Accountancy

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Difference between capital account and current account

Posted by Rohan Thakur 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Yogita Ingle 4 years, 1 month ago

Difference. The balance of payment account is broadly divided into two sub accounts – Balance of payment on Current Account and Balance of payment on Capital Account. Simply put, current account of BOP is that account which records export and import of goods, export and import of services and unilateral transfers (Real transactions). Capital account of BOP is that account which records transactions relating to purchase and sale of foreign assets and of foreign liabilities during a year (Financial transactions).Balance of payments has four components (items), namely, (i) exports/imports of goods, (ii) exports/imports of services, (iii) unilateral transfers, and (iv) capital receipts/payments.

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Please share topic not comes in final exams of class 11th and 12th.

Posted by Vikas Kumawat 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Gaurav Seth 4 years, 1 month ago

HRD Minister Ramesh Nishank announced a major CBSE syllabus reduction for the new academic year 2020-21 on July 7 which was soon followed by an official notification by CBSE on the same.

Considering the loss of classroom teaching time due to the Covid-19 pandemic and lockdown, CBSE reduced the syllabus of classes 9 to 12 with the help of suggestions from NCERT.

The CBSE syllabus has been rationalized keeping intact the learning outcomes so that the core concepts of students can be retained.

Click on the respective links:

<font color="#FF6600"><font style="box-sizing: border-box; -webkit-tap-highlight-color: transparent; user-select: initial !important;"><font style="box-sizing:border-box; -webkit-tap-highlight-color:transparent; user-select:initial !important">Revised Curriculum for the Academic Year 2020-21</font></font></font>

<a href="http://cbseacademic.nic.in/Revisedcurriculum_2021.html#collapse2" style="box-sizing:border-box; -webkit-tap-highlight-color:transparent; user-select:initial !important; touch-action:manipulation; color:var(--ion-color-primary,#3880ff)">Revised Secondary Curriculum (IX-X)</a>

</div> </div> <div class="panel panel-default"> <div class="panel-heading">

<a href="http://cbseacademic.nic.in/Revisedcurriculum_2021.html#collapse1" style="box-sizing:border-box; -webkit-tap-highlight-color:transparent; user-select:initial !important; touch-action:manipulation; color:var(--ion-color-primary,#3880ff)">Revised Senior Secondary Curriculum (XI-XII)</a>

</div> </div> </div>

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Gopal and kalu share profit equally . Gopal is entitled to a salary of 2000 per month and together a commission of 10% of net profit before charging commission . Kalu is entitled to a salary of 20000p.a. And also a commission of 5% on the profit after charging the commission and salary . The profit during the year ending March 31 2015 were 184000. Distribute the profit between Gopal and kalu

Posted by V S 2 years, 6 months ago

CBSE > Class 12 > Accountancy

2 answers

Jay Verma 2 years, 6 months ago

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Shiv Shankar 3 years, 7 months ago

aaa

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unrecorded plant of 7000 was realised at 5000

Posted by Sukhdev Singh 4 years, 1 month ago

CBSE > Class 12 > Accountancy

0 answers

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The major source of income of non profit organizations

Posted by Nidhi Nidhi 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Gaurav Seth 4 years, 1 month ago

Main source of income of No-for-Profit organisation is legacies, donations and subscriptions. A non-for-Profit organisations is set up for promoting science, commerce, social cause etc.

The main purpose is not to earn profits but to provide services.

Legacy the income received due to the death of a person who has mentioned the transfer of certain income in the will.

Donations are the major sources of such organisations. People usually donate a certain portion of their income for the welfare of the organisation.

Subscriptions are the side income of the not-for-profit organisation when a person subscribes for any activity in the various clubs inaugurated for societies's welfare.

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