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Sajal and kajal are partners sharing profits and losses in the ratio of 2:1. On 1 april,2019their capitals were : Sajal-5,00,000 Kajal-4,00,000.

Posted by Pushkar Omar 5 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Yadu, Madhu and Vidu are partners sharing profits and losses in the ratio of 2:2:1. There fixed capitals on April 01, 2019 were; Yadu Rs. 5,00,000, Madhu Rs. 4,00,000 and Vidhu Rs. 3,50,000. As per the partnership deed, partners are entitled to interest on capital @ 5% p.a., and Yadu has to be paid a salary of Rs. 2,000 per month while Vidu would be receiving a commission of Rs. 18,000. Net loss of the firm as per profit and loss account for the year ending March 31, 2019 amounted to Rs. 75,000 on the basis of above information prepare profit and loss appropriation account. Prepare profit and loss appropriation account for the year ending March 31, 2019.

Posted by Sourabh Singla 5 years, 7 months ago

CBSE > Class 12 > Accountancy

5 answers

Dhruv Kanojia 3 years, 7 months ago

Q1 Yadu. Madhu and Vidu are partners sharing profits and losses in the ratio of 2:2:1. Their fixed capitals on April 01, 2021 warn Vadu 5,00,000, Madhu 34,00,000 and Vidhu 3,50,000. As per the partnership deed, partners are entitled to interest on capital 5% pa.. and Yadu has to be paid a salary of 2,000 per month while Vidu would be receiving a commission of 18,000. Net loss of the firm as per profit and loss account for the year ending March 31, 2022 amounted to 75,000. Prepare profit and loss appropriation account for the year ending March 31, 2022.

47Thank You

Anshika Lahori 4 years, 5 months ago

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Priyanka Savita 4 years, 6 months ago

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Akshat Bhatt 4 years, 7 months ago

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Saajid Mohamed 4 years, 7 months ago

otha punda mavnda is the answer otha odra oombi

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ANSWER

There are three partners R,S,T ratio sharing of capital 3:2:1 Adjustment salary to R and S1500pa Commission to S is 4500 And S and T guranted a minimum profit of 35000 to A Profit will be shared in the ratio of 3:3:2.

Posted by Lokesh Singh 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Lokesh Singh 5 years, 7 months ago

Profit is 90000 of year please answer

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ANSWER

What is endowment fund can you in hindi l can't understand

Posted by Riddhi Maheshwari 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Indrajeet Singh Arora 5 years, 7 months ago

Ye ek aisa fund hota hai jo ki ek NPO kisi specific purpose ke liye banati hai . Ye fund kisi gift se ya fir bequest se arise hota hai . Ise ham liability side me dikhate hai balance sheet me.

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P and Q were partner in a firm sharing profit in 7:3 ratio.Their fixed capital were P rs 500000 and Q rs 800000.For the year ended 31st March,2018 , intrest on credited@ 12%insted of 10% . show the necessary adjusting entry for the rectification of the error.also show the working notes clearly

Posted by Vickey Jha 5 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Where would you record Rent paid to partner while preparing P/LAppropriationA/c

Posted by Kunal Yadav 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Prabhsung Pmadam 5 years, 7 months ago

Rent paid by a firm is such an expenditure which is incurred irrespective of any partner. It is not directly related to the partner. For eg, interest on capital is directly related to the capital contribution by the partners. Hence, the rent paid is debited to P/L account instead of Appropriation account.

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David and john Were partner in firm Sharing profit in the ratio Of 4:1Their capital on 1.4.2006 were: Rs-250000 Ans john -50000 the partnership deed provided the devid Will get a commission of 10% of net profit After allowing a salary of rs-2500 per month To John the profit of the firm for rhe year ended 31.3.2007 Was rs 140000

Posted by Unique Designs With Simran 5 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

What should we do when appropeation are more than then profit

Posted by Unique Designs With Simran 5 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

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Why don't we show Manager's Commission And interest on parner's loan in profit / loss appropriation account

Posted by Unique Designs With Simran 5 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

What is the meaning of share

Posted by Arun Bhati 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Indrajeet Singh Arora 5 years, 7 months ago

IT IS A SMALL DENOMINATION OF THE AUTHORISED/ REGISTERED CAPITAL OF A COMPANY .

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What is seedling

Posted by Shivam Sharma 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 4 years, 7 months ago

A seedling is a young sporophyte developing out of a plant embryo from a seed. Seedling development starts with germination of the seed. A typical young seedling consists of three main parts: the radicle, the hypocotyl, and the cotyledons.

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Following is the balance sheet of A and B who share profit in the ratio of 2:1

Posted by Prerna Bhagat 5 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

What you mean by not for profit organization

Posted by Sahil Thakur 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Gaurav Seth 5 years, 7 months ago

Not-for-Profit Organisations are the establishments that are for utilized for the welfare of the community and are set up as charitable associations which operate without any motive for profit. Their primary objective is to furnish service to a specific class or the public at the larger picture. Usually, they do not produce, buy or sell commodities and may not have credit transactions. Therefore, they need not manage many books of account (as the trading entities do) and Trading and Profit & Loss Account. The funds raised by such establishments are credited to the general fund or capital fund. The major sources of their income usually are subscriptions from their member’s donations, income from investments, grants-in-aid etc.,

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annual profit shown by a bissiness is 20000 normal rate of return 10%. total assets of the business firm 240000 and liabilities are 80000 values of goodwill be

Posted by Himanshu Kanyal 5 years, 7 months ago

CBSE > Class 12 > Accountancy

2 answers

Vaishali Singh 5 years, 7 months ago

Profit = Rs. 20,000 Rate of interest = 10% Capital invested = assets - liability = 2,40,000 - 80,000 = Rs. 1,60,000 Normal profit = capital invested x rate of interest = 1,60,000 x 10/100 = Rs.16,000 Now, Super profit = Average profit - Normal profit = 20,000 - 16,000 = Rs. 4,000 So, Goodwill = supper profit x rate of interest = 4,000 x 10 = Rs. 40,000 Hence, the goodwill of the firm is Rs. 40,000.

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Himanshu Kanyal 5 years, 7 months ago

40000

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Arti and bharti are partner in a firm sharing profit in the ratio of3:2 the following trial balance was extracted from theri books as at 31st march 2019

Posted by Shivam Jain Jain 5 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Explain the features of Receipts and Payment.

Posted by Nafisa Jalali 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Yogita Ingle 5 years, 7 months ago

Features of Receipts and Payments Account

It is also known as Cash Book Summary for the Not-for-Profit organizations because it records all the cash and cash equivalents like cheques transactions throughout the year.
It starts with beginning cash and bank balance and ends with ending cash and bank balance.
This account shows cash transactions of both capital and revenue nature.
Mostly it shows a debit balance. In the exceptional case of overdraft balance, its net balance may be credit.
The concern prepares it on the last day of the accounting year.
Double Entry bookkeeping system does not apply to this account since it is a summary of transactions which are already recorded in the Cash Book.
It does not involve transactions which do not include cash or bank items.

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ANSWER

A partner guaranteed that he will earn a fees of 2,00,000 but he actually earned a fee of 1,75,000 why the difference between them is added to net profit ?

Posted by Manasvini Srivastava 5 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Janak planned to be in a business of autoparts.many of his friends were in this business. There was a great margin of project in this business.He needed a capital of 20 lakhs.He got a loan of Rs 6lakh from his father without interest.The bank loan was paid in 8equal instalments with interest.He purchased furniture of Rs ten thousand and paid refundable security of Rs fifty thousand for a shop in the market.The rent for the shop was Rs1200 per month payable on 7th of each month. He also purchased a second hand car for Rs thirty thousand.All expenses were paid by cheque. However petty expenses were paid cash. All sales will be banked. He actually started his business on January 1 ,2004.At the end of the year the following information was available. Purchase of spare parts 425000. Sales of spare parts 650000 electricity expenses 10,000 insurance 4000 advertising expenses 12000 salaries and wages 160000 general expenses paid in cash 15000 printing and stationary expenses paid in cash 18000 rent paid for11 months. He drew rs 4000 every month for his personal use. He charged depreciation of 10percent on furniture and his car. The unsold stock amounted toRs 20000.the salaries of Rs 12000 are yet to be paid and rent for one month is due to be paid

Posted by Gokul Shankar 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Gokul Shankar 5 years, 7 months ago

At least will u please help to prepare the trial balance

1Thank You

ANSWER

A and b start business On July 1st 2004 each partners contributing 150000 his share of capital

Posted by Naresh Kumar 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Mehul Goyal 4 years, 7 months ago

answer

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ANSWER

Stock turnover ratio=5times Sales=300000 G.p ratio=20% on sales Op. Stock is 8000 less than cl.stock Calculate op. And cl. Stock

Posted by Priyansha Patheja 5 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Jyoti power ltd. Of decided to issue 8500000 equity share of rs 10 each at a premium of rs 3 per share.the whole amount was payable on application. Application 2000000 share were received a application for 300000 share were Rejected and share were allotted to the remaining application on pro-rata basis. Pass necessary journal entries for the above tansaction in the books of the company

Posted by Prashant Yadav 5 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

can we take profit from other partners

Posted by Chetan Suthar 5 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

XY and Z are partners in a firm sharing profit in ratio 3:2:1 . They decided that Z's share would be 1/3in future. For this purpose, goodwill of the firm is valued rs 60,000 [ Ans:6:4:5 sacrifice ofX and Y are3/30 and 2/30 respectively and Z's gain is 5/30]

Posted by Mann Mihul 5 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Following balance sheet of sahi and aashu sharing profit 3:2 on admision of tanya

Posted by Poonam Basrani 5 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Sachin and Dravidian are partners in a firm sharing profits and losses in the ratio of 3:2 .Their balance sheet is give below

Posted by Srinivas H.V Srinivas H.V 5 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

What is page folio

Posted by Karma Tsheten 4 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 4 years, 7 months ago

A folio is a sheet of paper folded once in the middle, making four pages of a book. It may also be called a signature. Common usage: A folio is a numbered page of a book or the actual number printed on the page.

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Sdgg

Posted by Dr Shailesh Ojha 5 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

ANSWER

Balance of partners current account is

Posted by Gayatri Maruwada 5 years, 7 months ago

CBSE > Class 12 > Accountancy

2 answers

Anmol Bahubal 5 years, 7 months ago

It can be both debit as well as credit but capital account always has credit until and unless any permanent amount is withdrawn or introduced.

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Gaurav Seth 5 years, 7 months ago

Normally Partner's Current Account has a Credit Balance but, if a partner has withdrawn more than his or her share of profits, then it will have a Debit Balance. The credit balances of Partner's Current Account are shown on the Liabilities Side of Balance Sheet, as much of amount due to them. Debit balances are shown on the Asset side of balance sheet.

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A and B are partners with capital of rs 500000 and rs 300000. the profit for the year ended 31 March 2016 was rs 346000 before allowing interest on partner's loan show the distribution of profit after taking the following into consideration 1. interest on A's loan of 150000 to the firm provided on 1 April 2015

Posted by Bfung Basu 5 years, 7 months ago

CBSE > Class 12 > Accountancy