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What is the consideration

Posted by Ankit Choudhary 5 years, 7 months ago

1 answers

Sia ? 4 years, 7 months ago

Consideration is a concept of English common law and is a necessity for simple contracts but not for special contracts. The concept has been adopted by other common law jurisdictions.

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What is the cash condineration

Posted by Ankit Choudhary 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 4 years, 7 months ago

Cash consideration is the purchase of the outstanding stock shares of a company using cash as the form of payment. An all-cash offer is one way that an acquirer may use to acquire a stake in another company during a merger or acquisition. Learn how mergers and acquisitions and deals are completed.

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Money received on1000 shares forfeited by the Co.was Rs6000 against FV=Rs10per share company has made the full call n these sharesand is now planning to reissue .What is the maximum discount per share the Co.can offer on these share at the time of reissue

Posted by Armaan Naksh 5 years, 7 months ago

CBSE > Class 12 > Accountancy

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A club recieved rs.20000 as subscription during the year 2019-20 of which rs.3000 relate to 2018-19 and 2000 to 2020-21and at the end of the year 2019-20 rs.6000 are still receivable .In this case receipt and payment a/c wil show rs.20000 as receipt and payment a/c .calculate the amount of subscription to be shown as income and expenditure a/c for the year ending 2019-20? Please solve this question and reply me ...

Posted by Aswathy Jasmi 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Piyush Sukhnani 5 years, 7 months ago

60000

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x and y are partners in a firm X is entitled to a salary of rupees 10,000 per month and commission of 10% of the net profit after partner salaries but before charging commission y is entitled to a salary of rupees 25000 per annum and commission 10percent on the net profit after charging all commission and partners salary . Net profit before providing for partner salaries and commission for the year ended 31st March 2017 was 420000

Posted by Akil Khan 5 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

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What is trading concern

Posted by Aditi Dodiya 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Meghna Thapar 5 years, 7 months ago

The concerns whose main objectives are not to earn profit but render valuable services to its member and to the society are known as non-trading concerns. Those concerns or organizations are involved in promoting commerce, art, science, religion, charity or any kind of welfare. Non-trading concerns are simply non-profit making entities that exist solely for the betterment of the society by providing quality services. Unlike trading concerns. All receipts and payments of capital nature of non-trading concern are shown in the: A) Receipt & payment account. (B) Income & expenditure.

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Thread , Needle and button are in partnership and during the year ended 31-3-2015 they earned a profit of Rs 83000 .Thread and Needle are entitled to 10% p.a. interest on capital of Rs 60000 and Rs 100000 respectively . Button who has no capital in the firm is entitled to a salary of Rs 12000 p.a. Button is also entitled to a commission of 10% on yhe profits after charging interest , salary and commission . It is further agreed that the balance of profits should be appropriated as to 20% for charity fund and balance is shared equally by Thread and Needle . Prepare profit and loss appropriation Account and partners capital and current account for the year ended 31st march 2015 , if the drawings of the partners during the year were Thread Rs 8000 ; Needle Rs 6000 ; and Button Rs 9000 .

Posted by Ranjeet Singh 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Rakshit Kamboz 4 years, 6 months ago

answer

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Finacial statement of non profit for object type guestion

Posted by Anita Kumari 5 years, 7 months ago

CBSE > Class 12 > Accountancy

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The debt equity ratio of X Ltd. Is 0.5:1.state with reason whether issue of bones sgare would increase or decrease or not change the debt equity

Posted by Simran Kaur 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Gaurav Seth 5 years, 7 months ago

The change in the ratio depends upon the original ratio ratio. Let us assume that external funds are Rs. 5,00,000 and internal funds are Rs. 10,00,000. Now we will analyse the effect of given transactions debt equity ratio.
(a) Assume that Rs. 1,00,000 worth of equity shares are issued. This will increase the internal funds to Rs. 11,00,000. The new ratio will be 0.45 : 1 (5,00,000)/11,00,000). Thus, it clear that further issue of equity shares decreases the debt-equity ratio.
(ii) Cash received from debtors will leave the internal and external funds unchanged as this will only affect the composition of current assets. Hence , the debt-equity ratio will remain unchanged.
This will also leave the ratio unchanged as sale of goods on cash basis neither affect Debt nor equity.
(iv) Assume that Rs. 1,00,000 debentures are redeemed. This will decrease the long-term debt to Rs. 4,00,000. The new ratio will be 0.4 : 1 (4,00,000/10,00,000). Redemption of debentures will decrease the debit-equity ratio.
(v) This will also leave the ratio unchanged as purchase of goods on credit neither affect Debt nor equity.

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A debenture of a company represents

Posted by Ranveer Sharma 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Ria Choudhary 5 years, 7 months ago

Borrowing by a company

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Bharat is a partner in the firm. He withdraws Rs 6,000 at the starting of each month for 12 months. The books of the firm closes on march 31st every year. Calculate Interest on drawings if the rate of interest is 5% per annum

Posted by Sanidhya Soni 5 years, 7 months ago

CBSE > Class 12 > Accountancy

2 answers

Partha Sarathi 5 years, 7 months ago

12.196

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Krish Mahajan 5 years, 7 months ago

6000*12 * 5/100 * 6.5/12

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Harish withdrew Rs.5,000 at the end of month of each month. The partnership deed provides for charging interest on drawings @ 6% per annum. Calculate interest on drawings for the year ending 31st December 2006.

Posted by Sanidhya Soni 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Krish Mahajan 5 years, 7 months ago

5000*12 * 6/100 * 5.5/12

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Debit balance in the Profit and Loss account indicates _________.

Posted by Sachin Yadav 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Neetu Sharma 5 years, 7 months ago

Loss to the firm.

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what is subscription?

Posted by Rohit Chouhan 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Indrajeet Singh Arora 5 years, 7 months ago

It is fixed source of income recieved at fixed interval of time from the members of a Non profit organisation

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Shiva and hari entered into partnership on 1st April 2013. contributing 500000 and 200000 respectively. hari also introduced 100000 as addition al capital on 1st July 2013

Posted by Indhuja Raj 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Indhuja Raj 5 years, 7 months ago

12000

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Which if the following is generally considered a non profit oreinted organisation

Posted by Vaibhav Kumar 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Jaismeen Dhami 5 years, 7 months ago

Eg are:-NGO's,donations,

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How are the following items shown in the accounts of a not -for-profit organisation? Tournament fund 50000 Tournament expenses 15000 Receipts from tournament. 20000

Posted by Sukhdev Singh Sukhdev Singh 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Saloni Jain 5 years, 7 months ago

Fund +receipts - expenditure

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???? ?? ? ??????????? ????

Posted by Khushpreet Kaur 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Jaismeen Dhami 5 years, 7 months ago

????

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Ashish and akash are partners sharing profit in the ratio of 3:2. Their capital accounts showed a credit balance of rs. 5,00,000 and rs. 6,00,000 respectively as on 31st march, 2019 after debit of drawings during thw year of rs. 1,50,000 and rs. 1,00,000 respectively. Net profit for the year ended 31st march, 2019 was rs. 5,00,000 . Interest on capital is to be allowed @ 10% p.a. Pass the journal entry for interest on capital and prepare profit and loss appropriation account.

Posted by Anuradha Shukla 5 years, 7 months ago

CBSE > Class 12 > Accountancy

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ANSWER

Shiv and hari entered into partnership on 1st April 2017 contributing rupees 500000 and rupees 200000 respectively. Hari also introduced rupees 100000 as additional capital on 1st July, 2017 they agreed to share profits and losses in the ratio of 3:2 . Following information is provided regarding the partnership : (1) shiv and hari ,each are allowed a salary of rupees 5,000 per quarter (2) interest is to be allowed on capital @ 8 % p.a. and charged on drawing at 10 %p.a. Drawing of shiv and hari during the year were rupees 12000 and rupees 10000 respectively. Profit as at 31st March , 2018 before the above mentioned adjustment was rupees 196000 Prepare (1) partners capital account

Posted by Divyanshu Agarwal 5 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

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how to calculate sharing profit ratio

Posted by Badal Kumar 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Jaismeen Dhami 5 years, 7 months ago

Eg:-the profit need to be divide in ratio 3:2 Then we just need to multiply the profit amount by 3/5(5 is the sum of the ratio 3+2=5) Like profit amt is 500 then amt a partner gets= =500×3/5 =100×3 =300 And for partner B it will be =500×2/5 =100×2 =200

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P and Q share profits in 3:2 . On 1 april 2016 they admit R and S with with 1/4 & 1/5 share respectively . The profits of the firm for the year ended 31-3-2017 amounted to 200,000 . Prepare necessary journal entry for the distribution of profits .

Posted by Taranvir Sahil 5 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

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What is pro rate and how dose it effect billing

Posted by Chetan Dharma 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 4 years, 6 months ago

Pro rata charges appear on your telecommunications bill for anything other than the standard recurring fees. For instance, if you sign up for a new service on the 15th of the month, but the billing cycle resets on the 1st of the month, you'll only be charged for the service you've received.

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Tapan receives half of shares of vishal while baiju receives 1/3rd share of tapan if total profit of the firm is 80000 than find profit share receives by each partner

Posted by Hridayansh Periwal 11 months, 2 weeks ago

CBSE > Class 12 > Accountancy

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Mahesh and Suresh are partners and the admitted Naresh into partnership. Agri to value of goodwill at 3 years purchase on weight age average profit method taking profit for last 5 years. there asign with weightsfrom 1 to5 beginning from the earliest years and onwards. The profit for last five years were as follows Profit for 31st March 2013 is 125000 Profit for 31st March 2014 is 140000 Profit for 31st March 2015 is 120000 Profit for 31st March 2016 is 55000 Profit for 31st March 2017 is 257000 Books of account revealed the following 1)second hand machine was purchased for rs 5 lakh on 1st July 2015 and 100000 was pant to make it operational bus stop rupees 100000 were wrongly debited to repair account. Machine is depreciation depreciation 20% per annum on write down value method. 2) closing stock as on 31st March 2016 was undervalued by 50000. 3) remuneration to partners was to be considered as charge against profit and remuneration of 30000 per annum for each partner was considered appropriated. calculate the value of goodwill by weighted average profit method . I hope you text answer fast as possible as thank you

Posted by Gunja Morya 5 years, 7 months ago

CBSE > Class 12 > Accountancy

0 answers

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Is depreciation to be shown in income and expenditure account even if it is not mentioned in the question ? If yes then at what rate?

Posted by Goshmi Abrol 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Ria Choudhary 5 years, 7 months ago

No...it should be mention otherwise no depreciation will be charged

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Where would the ground rent and Municipal tax due go in income and expenditure A/C.

Posted by Basu Maru 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Ria Choudhary 5 years, 7 months ago

If ground rent is shown in payment side of receipt and payment account then it will go in expenditure side of income and expenditure account and vice versa Municipal tax in expenditure side

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Cpter 1

Posted by Devoshree Bhattacharya 5 years, 7 months ago

CBSE > Class 12 > Accountancy