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Explain admission of a partner

Posted by Udit Garg 5 years, 6 months ago

1 answers

Prasanna Sj 5 years, 6 months ago

Admission of a new partner is the inclusion of a new partner as an associate or partner to an existing enterprise is known as an admission of a partner. For the right to share the profit of the partnership firm, the new partner is required to bring some amount which is known as a premium or his share of goodwill.

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One horse of horse club died insurance company has offered to settle the claim at 60% will it be recorded in account of club

Posted by Aman Singh 5 years, 6 months ago

CBSE > Class 12 > Accountancy

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A and B are Partners sharing profits in the ratio of 3: 2 they admit C into the firm for 3/7 the Profits (which he takes 2/7 the from A and 1/7 th from B) and brings 600,000 as premium out of his share of 720,000, Goodwill account de appear in the books of A and B.

Posted by Ayush Gupta 5 years, 6 months ago

CBSE > Class 12 > Accountancy

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Debenture holders are

Posted by Rona Roy 5 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Purvanshi Yadav 5 years, 6 months ago

Called creditors of the company

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Can two companies be in partnership??

Posted by Vansh Srivastava 5 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Renu Sharma 5 years, 6 months ago

Yes

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E and F are partners sharing profit and losses in the ratio of 4 is to 1 respectively ji is admitted as a partner for which he plays rupees 10000 as Premium for goodwill and in future e f and G decide to see a profit and loss in the ratio of 2 is to 1 is to 1 respectively pass necessary general entries

Posted by Kriti Goswami 5 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Vani A 5 years, 6 months ago

Bank a/c dr. 10000 To premium for goodwill a/c 10000 Premium for goodwill a/c dr. 3000 To E's capital a/c 3000

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How to become an industry and commerce accountant.Explain.(in 500 words)

Posted by Ayush Gupta 5 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Meghna Thapar 5 years, 6 months ago

Accountants working in industry often focus on the economics within a business including cash flow, cost control and budgeting. Specialised areas you may work in include financial accounting, management and cost accounting and treasury management. There are mainly three types of accounts in accounting: Real, Personal and Nominal accounts, personal accounts are classified into three subcategories: Artificial, Natural, and Representative. The five account types are: Assets, Liabilities, Equity, Revenue (or Income) and Expenses. To fully understand how to post transactions and read financial reports, we must understand these account types.

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Name the heads and sub-heads of these items: 1.Goods-in-transit 2.Loan repayable after 3 years 3.Discount on issue of debentures 4.Provision for provident fund 5.Provision for doubtful debts?

Posted by Param Singh 5 years, 6 months ago

CBSE > Class 12 > Accountancy

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krishan and gopal arepartners in the firm shareing profit and loss are equally yhe admit of shary 1/5th share of profit shayam bring into partnerdhip book dept amounting 20000 thr goodwill ofvalue is conestion 40000 and balance in cash borrowed for har freinds murlidhar so as to make his capital equal to rs 120000 the goodwill of the old fi (gopal and krishan ) is to be taken 60000 solve this question and journal entry

Posted by Rohit Kumar 5 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Rohit Kumar 5 years, 6 months ago

Give me answers

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From the following Receipts and Payments Accounts of Cricket Club and the additional information given, prepare the Income and Expenditure Account and Balance sheet for the Year ending 31-12-2018. RECEIPTS AND PAYMENTS ACCOUNT for the year ending 31-12-2018 Particulars Rs. Particulars Rs. To bal. b/d -Cash 3520 By Maintenance 6820 -Bank 27380 By Crockery Purchased 2650 -Fixed Deposit @ 6% 30000 By Match Expenses 13240 To Subscription (including Rs. 6000 for 2017) 40000 By Salaries 11000 TO Entrance fees 2750 By Conveyance 820 To Donation 5010 By Upkeep of Lawns 4240 To Interest on Fixed Deposits 900 By postage stamps 1050 To Tournament Fund 20000 By Purchase Of cricket goods 9720 To Sale of Crockery(book value Rs. 1200) 2000 By Sundry expenses 2000 By Investments 5700 By Tournament Expenses 18800 By balance c/d: -Cash 2200 -Bank 23320 Fixed Deposits 30000 1,31,560 1,31,560

Posted by Nafisa Jalali 5 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

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15 transaction journal entry with trial balance , ledger

Posted by Ritesh Bagwan 5 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

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15 transaction wit journal entry,trail balance and ledger

Posted by Ritesh Bagwan 5 years, 6 months ago

CBSE > Class 12 > Accountancy

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Accountancy chapter 2 partnership firm changing and profit sharing ratio among the existing partner question number 13

Posted by Madan Kumar Upadhyay 5 years, 6 months ago

CBSE > Class 12 > Accountancy

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A club has 500 members each paying annual subscription received in advance for the current year Rs 10000. Subscription received during the year Rs 30000. calculate the amount of outstanding subscription?

Posted by Pranjal Bisht 5 years, 6 months ago

CBSE > Class 12 > Accountancy

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Need for preparing recipt & payment a/c

Posted by Surbhi Kushwah 5 years, 6 months ago

CBSE > Class 12 > Accountancy

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A,B and C were partners sharing profits in the ratio of 3:2. They admitted D as a new partner for 1/8th share in the profits,which he acquired 1/6th from B and 1/16th from C. Calculate the new profit sharing ratio of A,B,C and D

Posted by Sarthak Dash 5 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Weight average goodwill

Posted by Atul Sharma 5 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

_Shidharth_ Shidhu 5 years, 6 months ago

=total product/total profit

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Dk Goel cash flow statement solution

Posted by Sanjay Agrawal 5 years, 6 months ago

CBSE > Class 12 > Accountancy

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Rani and Suman are in partnership with capitals of Rs, 80,000 and Rs. 60,000,respetively. During the year 2006-2007, Rani withdrew Rs.10,000 from her capital and Suman Rs.15,000.Profits before charging interest on capital was Rs.50,000. Ravi and Suman shared profits in the ratio of 3:2. Calculate the amounts of interest on their capitals @ 12% p.a. for the year ended March 31,2007.

Posted by Ranjit Sah 5 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Ranjit Sah 5 years, 6 months ago

Dena

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Classify the following into Revenue and Capital items (Revenue Receipt, Revenue expenditure or Capital Receipt, Capital expenditure) a) Life membership fees b) Sales proceeds of old tennis balls c) Prize amount received from Lottery d) Honorarium paid to the secretary e) Legacies received f) Legal charges incurred at the time of purchase of land g) Brokerage paid for raising a loan for the purpose of business h) Expenses incurred for white washing the old building i) Amount spent on repair to secondhand motor car before it is used j) Periodical repairs of plant k) Installation charges of a new machinery l) Subscriptions to newspapers m)Cost of construction of pavilion by a sports club n) Donation received for constructing a swimming pool o) Carriage paid for goods purchased p) Salary paid to ground men for upkeep of ground q) Sale of sport materials r) Locker rent paid s) Interest on loan taken for construction of building t) Cost of Installation of computer by a college u) Special subscription received for special purpose v) Prize awarded to students on the college day w) Match expenses met out of match fund x) Sale of Machinery y) Govt grant for maintenance z) Rent received

Posted by Keshav Reddy 5 years, 6 months ago

CBSE > Class 12 > Accountancy

2 answers

Kritik Sharma 4 years, 4 months ago

whare is your answer

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Madan Madhu 4 years, 4 months ago

I do not know this answer

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Why outstanding of last year is deducted from the subscription even it is not written that the amount is received in current year

Posted by Shivani Yadav 5 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

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What are non profit organisation?

Posted by Appalal Maniyar 5 years, 6 months ago

CBSE > Class 12 > Accountancy

3 answers

Anuj Ojha 5 years, 6 months ago

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Shashikumar Adur 5 years, 6 months ago

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Vaishali Singh 5 years, 6 months ago

Non profit organization are those organisations who's main motive to run the firm is not profit making.....but to perform social work and welfare of the society. Hope you liked my answer ?

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Hii gies Kisi ko ch 2 ata h kya

Posted by Anil Verma 5 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

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Amitabh and Babul are partners sharing profit ration in 3:2 with capitals of Rs.50,000 and Rs.30,000 respectively. Interest on capital is agreed @ 6% p.a. Babul is to be allowed an annual salary of Rs.2500. During the year 2019-20, the profits prior to the calculation of interest on capital but after charging Babul’s salary amounted to Rs.12,500. A provision of 5% of the profits is to be made in respect of commission to the manager. Prepare P&L appropriation A/c

Posted by Karan Jaiswal 5 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Anil Verma 5 years, 6 months ago

Bhai ye ques easy h

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Ramesh and suresh were partners in the ratio 3:2 there balance sheet as on.31-12-2007.liabilitis are creditor 1000,reserve fund 1500,provident fund 500,ramesh capital 5000,suresh capital 4000.assets are machinary 1200,stock 2550,cash in hand 6250,cash in bank2000.on 1-1-2008 they admitted arvind into partnership for 1/6share he will bring 1000 for goodwill and 1500 for capital. the old partner adjusted there capital on the basis of new ratio prepare partners capital

Posted by Arwaz Qayum 5 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

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Gdp

Posted by Ayush Tiwari 5 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

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Dk goel chapter 2 pratical question no. 3 (Calculate goodwill on the basis of two years purchase of average )

Posted by Janvi Sharma 5 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

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How to make accountancy comprehensive project file

Posted by Rohit Shishodia 5 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

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Gain on sale of tangible assets is an (a) operating activities (b) investing activities (c) financial activities (d) cash and eqvilent

Posted by Dev Hooda 5 years, 6 months ago

CBSE > Class 12 > Accountancy

0 answers

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What is pay roll accounting?

Posted by Alfiyah Shujaee 4 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 4 years, 7 months ago

Payroll accounting is essentially the calculation, management, recording, and analysis of employees' compensation. The key for payroll accounting is to recognize when a concept is assumed by the employer or the employee.

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