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

If their is specific information that enetance fees is capital receipts or revenue Then it come in liability side of balance sheet If their is no information then it come in cr. Side of income and expenditure A/C

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Saloni Jain 5 years, 4 months ago

In the balance sheet it will come in liabilities side as the club has to give services to the members in return of the amount received And in income and expenditure account it will come in the income side

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pooja and archana are partners in a firm sharing profits and losses in the ratio of 2:1 . their capital accounts as on 1st jan 1993 stand at rs70000 and rs30000 respectively. the partners are allowed interest on capital @10% pa . the drawings of the partners during the year ended 31st december 1993 amounted to 4800 and 3600 respectively . interest is charged on drawings at 10%pa . pooja has given a loan to firm as on 1st august 1993 of rs20000. the profit of the firm before adjustment was 80000. 10% of this profit is to be kept in reserve account . current a/c balances on 1st january 1993 were pooja rs5000 cr and archna rs23000 dr. prepare p&l appropriation account

Posted by Garima Mittal 7 months, 3 weeks ago

CBSE > Class 12 > Accountancy

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if total assets of the firm are Rs1200000 and total liabilities are Rs 240000 what will the capitals of p,q,r if they share profits in the ratio of their capitals and profit sharing ratio is 1:2:3?

Posted by Kundân Yadav 5 years, 4 months ago

CBSE > Class 12 > Accountancy

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D will bring 100000 as his capital and will get 1/6th share in the profit

Posted by Aayush Singh 5 years, 4 months ago

CBSE > Class 12 > Accountancy

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Which of the following item is not recorded on the credited side of the current accounts of partner

Posted by Bitto Singh 5 years, 4 months ago

CBSE > Class 12 > Accountancy

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A,B,C were partners sharing profits in the ratio of 1/2,2/5 and 1/10 . Find the new ratio of the remaining partners if C retires b

Posted by Rajdeep Kaur 5 years, 4 months ago

CBSE > Class 12 > Accountancy

3 answers

A Roy 5 years, 3 months ago

Yes ,A and B will remain and C will go

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Manu Patel Manu Patel 5 years, 4 months ago

C will return then only A and B will remain

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Arihant Jain 5 years, 4 months ago

If C will retire then only A and B wil remain the partner of the firm and there ratio will be 5:4

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For accountancy should I read ncert book

Posted by Tannu . 5 years, 4 months ago

CBSE > Class 12 > Accountancy

4 answers

Harshit Pandit 5 years, 3 months ago

Yes .... Follow D.k Goel with INCERT Book. Because questions are also asked to D.k Goel Book in Board Examination..

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Apeksha Gurjar 5 years, 4 months ago

Yes of course you should read NCERT book along with reference and I suggest to go with TS Grewal

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Sanyam Pahuja 5 years, 4 months ago

Follow dk goel with ncert

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Saloni Jain 5 years, 4 months ago

Yes, and also follow some other reference books

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Following is the summary of cash transactions of good health club for year ending 31st Mach,2018

Posted by Akashdeep Singh 5 years, 4 months ago

CBSE > Class 12 > Accountancy

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Issue of share prodata rule

Posted by Shivam Chauhan 5 years, 4 months ago

CBSE > Class 12 > Accountancy

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ANSWER

Important questions to be asked in Viva

Posted by Harikesh Kohli 5 years, 4 months ago

CBSE > Class 12 > Accountancy

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ANSWER

Sachin and David are the partners in the frim sharing the profit and losses in the ratio of 3:2

Posted by Bhumika Shyam 5 years, 4 months ago

CBSE > Class 12 > Accountancy

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Retiring partner is compensated for parting with the firm future profits in favour of remaining partners. The remaining partner contribute to such compensation amount in:

Posted by Khush Mohan 5 years, 4 months ago

CBSE > Class 12 > Accountancy

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A and B are equal partners with capital of ? 30,000 and 10,000 respectively. They admit C for 1/4th share in the firm. C brings capital of 15,000. Find out the hidden goodwill and pass necessary journal entry. Hidden Goodwill 75,000,

Posted by Dharmendra Gour 5 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Ayush Asati 5 years, 4 months ago

I think ans is 5k

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A and b are partner sharing profit in the ratio of 3:1. They admit c as a partner by giving him 1/4th share of profit which he acqired from a and b in the ratio of 2:1 .c bring as capital 100000 and 36000 as goodwill

Posted by Aditya Deoghar 5 years, 4 months ago

CBSE > Class 12 > Accountancy

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A,B and C are partners in a firm sharing profits and losses in the ratio 3:2:1 C retires from the firm and A and B agree to share future profits equally

Posted by Jatin Chauhan 5 years, 4 months ago

CBSE > Class 12 > Accountancy

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Solution of ch retirement question

Posted by Renu Grover 5 years, 4 months ago

CBSE > Class 12 > Accountancy

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ANSWER

A and B are partners in a firm sharing profits and losses in the ratio of 7:3. Their fixed capitals were: A ₹9,00,000 and B ₹4,00,000. The partnership deed provided the following: (i) Interest on capital @10% pa. (ii) A's salary ₹50,000 per year and B's salary ₹3,000 per month Profit for the year ended 31st march, 2019 ₹2,78,000 was distributed without providing for interest on capital for partner's salary. Showing your working clearly, pass the necessary adjustment entry for the above omissions.

Posted by Jahnavi Arora 5 years, 4 months ago

CBSE > Class 12 > Accountancy

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ANSWER

A and B are sharing in 5:4 they admit C for 1/10 share , which he takes in ratio 3:2 from a and b calculate new PSR and sacrificing ratio

Posted by Kamal Pandher 5 years, 4 months ago

CBSE > Class 12 > Accountancy

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ANSWER

A and B are a partners in a firm. They sharing profit and loss in the ratio of 3:2. They admitted C as a partner for the share of 1:1(20%). The new profit sharing ratio between A and B is 1:1(3:1). Find out new profit sharing ratio.

Posted by Loknath Singh Yadav 5 years, 4 months ago

CBSE > Class 12 > Accountancy

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ANSWER

Explanation about partnership firm and examples

Posted by A Roy 5 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Yogita Ingle 5 years, 4 months ago

Partnership is a separate business entity from the accounting viewpoint.

Partnership is a relationship between person who has agreed to share the profits of a business carried on by all or any of them acting for all

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2: 1

Posted by Shobha Chandrani 5 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Aashutosh Jha 5 years, 4 months ago

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A,B,C are partners sharing profit and losses in the ratio of 3:2:1, C retires. If a and b take the share of retiring partner equally, what will be the new profit sharing ratio

Posted by Urvi Sharma 5 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Divyanshu Singh 5 years, 4 months ago

New profit sharing ratio = 2:1 Ans

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ANSWER

Calculate amount of subscription

Posted by Jashanveer Kaur 5 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Yogita Ingle 5 years, 4 months ago

In case of Not-for-profit organisation Subscription is the main source of income. A subscription is basically the amount of money paid by the members on periodic basis for keeping their membership with the organisation continue. It may be paid monthly, quarterly, half yearly or annually by the members. In Receipts and payment Account it is shown in the Receipts side after making necessary adjustment related to the subscription.
In computing the amount of subscription for the current period, advance subscription received for the current period in the previous period and outstanding subscription for the current period are added to the subscription received during current period, on the other hand, advance subscription received for the next accounting period during the current period and outstanding subscription for the preceding period are deducted from the subscription received during the current period.
Calculation of Subscription

Subscription received during the year
(+) Subscription received (in advance) during previous year
for current year
(+) Subscription outstanding at the end of the year

(-) Subscription received in advance for the next year
(-) Subscription outstanding for the previous year
Subscription shown in Income and Expenditure Account

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Give the company balance sheet as per schedule iii of the company's act, 2013 with imaginary figures

Posted by Shamiya Zargar 5 years, 4 months ago

CBSE > Class 12 > Accountancy

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ANSWER

I am totally confused with subscription account can anyone just help me by giving me information about what to debit and what to credit in that account.

Posted by Abhijot Matharoo 5 years, 4 months ago

CBSE > Class 12 > Accountancy

4 answers

Deepak Gupta 5 years, 4 months ago

In subscription Account You should know nature of it. Outstanding subscription is our current assets hence opening balance of O/S subscription is shown on the debit side and Closing O/S subscription will be shown on credit side ( Reverse side ) and Advance Subscription is Our Liability hence Opening Advance is shown on the Credit Side and Closing Advance is shown on Debit side of subscription A/c

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Gaurav Seth 5 years, 4 months ago

A very simple method of getting the amount to be carried as income on account of subscription in the Income and Expenditure Account, is to prepare Subscription Account. Let me explain preparation of Suscription Account with the help of following example:

In a club each member is supposed to pay Rs.50 as yearly subscription and in 2013 it received Rs.2450.

At 1 January 2013, 5 members still owed their subscription for 2012 while 7 members have already paid their 2013 subscriptions.

At 31 December 2013, no subscriptions were due for 2012. However, 3 members still had to pay their 2013 subscriptions while 4 members have already paid their 2014 subscriptions.

What is the amount of income from Subscriptions during 2013.

It will be noticed from above that Subscription Account is a combination of two accounts, namely, (i) Subscription in Arrears A/c (Debit Balance) and (ii) Subscription in Advance A/c (Credit Balance).

just place the information given in the question at th

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Gaurav Seth 5 years, 4 months ago

Calculation of Subscription

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Manav Sharma 5 years, 4 months ago

There's nothing to do first go to homepage of this app there you can see my content and there is a premium membership u can click and then buy subscription for class12 @₹499 per subject

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