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In a partnership ,partner A is entitled a monthly salary of 7500 .At the end of year, profit is 75000 after charging A saraly. If the manager is entitled a commission of 10% on net profit after charging his commission. Calculate manager commission

Posted by Neha Dadhich 5 years, 8 months ago

CBSE > Class 12 > Accountancy

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Bat and ball are partners sharing the profit in the ratio 2:3with capitals of RS 120000 and RS 60000respectively on the 1st October 2017 bat and ball gland loss of rupees 240000 and 120000 respectively to the form but had a low the form to use his property for business for a monthly rent of 5000 the laws for the year ended 31st March 2018 before rent and interest amount to 9000 show distribute to profit or loss

Posted by Saraswati Dhali 5 years, 8 months ago

CBSE > Class 12 > Accountancy

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Why partnership is important for any firm?

Posted by Vishal Kumar 5 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Vishal Kumar 5 years, 8 months ago

For extra cpital

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Give me a thoery

Posted by Pawan Rana 5 years, 8 months ago

CBSE > Class 12 > Accountancy

0 answers

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What is find based accounting

Posted by Neha Sharma 5 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Shahnawaz Akhtar 5 years, 8 months ago

First of all it is fund based accounting,not find based accounting. Fund means amount received or set aside by a Not for Profit Organization for a specific purpose.Accounting based on the funds i.e.Donation,Entrance Fee etc is known as fund based accounting.

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X ,y and z are partners sharing profits and losses in the ratio 2:2:1.Their capital on 1 april 2019. Partners are allowed interest on capital @8 percent per annum .the firm earned a profit of 11700 for the year ended 31 march 2020. Prepare profit and loss appropriation account.

Posted by Anamika Pandey 5 years, 8 months ago

CBSE > Class 12 > Accountancy

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Define share capital?

Posted by Inderjeet Dhillon 5 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Simran Grover 5 years, 8 months ago

Value of capital in each share

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Sales of furniture 2400 (book value 5000) go to which side of income and expenditure account

Posted by Shivi Raj 5 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Nikhil Dwivedi 5 years, 8 months ago

It goes debit side 2600 at expenditure side

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what is LLP?

Posted by Chesna Sachdeva 4 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 4 years, 7 months ago

A limited liability partnership is a partnership in which some or all partners have limited liabilities. It therefore can exhibit elements of partnerships and corporations. In an LLP, each partner is not responsible or liable for another partner's misconduct or negligence.

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What do you mean by .. 1. Partners 2. Firm 3. Firm name

Posted by Rajendra Singh 5 years, 8 months ago

CBSE > Class 12 > Accountancy

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Nominal share capital is

Posted by Ashish Tiwari 5 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Meghna Thapar 5 years, 8 months ago

Nominal capital, also known as authorized capital, represents the securities that are designated for shareholders. Of course, the shares can also decrease in value, and as a result, nominal capital is clearly designated to protect the company's other assets.

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Tell all journel entry of account for share capital

Posted by Manish Ankalkote 5 years, 8 months ago

CBSE > Class 12 > Accountancy

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Why we need average period at the time of calculating Interest On Drawings ????

Posted by Ayush Chaudhary 5 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Ayush Chaudhary 5 years, 8 months ago

Time diffrence

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How make journal entry

Posted by Ashutosh Yadav 5 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Vipin Nagar 5 years, 8 months ago

By flow of cash

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Jayant, Kartik and Leena were partners in a firm sharing profit and losses in the ratio of 5:2:3.Kartik died and Jayant And Leena decided to continue the business. Their gaining ratio was 2:3. Calculate the new profit sharing ratio of Jayant and Leena.

Posted by Tenzin Tsela 5 years, 8 months ago

CBSE > Class 12 > Accountancy

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Name the method of calculating interest on drawings of the partners if different amounts are withdrawn on different dates.

Posted by Krish. Parmar 5 years, 8 months ago

CBSE > Class 12 > Accountancy

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Shiv and hari entered into partnership on 1st April 2017 contributing rupees 500000 and rupees 200000 respectively. Hari also

Posted by P P 4 years, 6 months ago

CBSE > Class 12 > Accountancy

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A drews $50000 during the year . If the rate of intrest on drawing is 10 petcent then ___________ will be the amount of Interest on drawing .

Posted by Vijay Patodi 5 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Bhawna Jareewal 5 years, 8 months ago

$2500 ( interest on drawing will be charged for 6 momths ) as drawing is made during the year)

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Some important question of chapter - issue of debenture

Posted by Abhay Pratap Singh 5 years, 8 months ago

CBSE > Class 12 > Accountancy

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.as per receipt and payment account for the year ended on 31st march 2017 the subscription received rupees 600000 additional information given is and follows subscription outstanding on 1st april 2016 rupees 60000 subscription outstanding 31st march 2017 40,000 subscription received in advance as on 1st april 2016 32000 received in advance as on 31st march 2016 38000

Posted by Ronit Cooler Cooler 5 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Ronit Cooler Cooler 5 years, 8 months ago

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State the main aim of Not-for-profit organisation.

Posted by Niharika G 5 years, 8 months ago

CBSE > Class 12 > Accountancy

2 answers

Ranbir Sharma Ranbir Sharma 5 years, 8 months ago

The main aim of Npo organisation is social services

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Paras Garg 5 years, 8 months ago

To provide services Without any profit motive

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Solution og class 12 npo ch 1 illustration 6 ts grewal

Posted by Ashu Khan 5 years, 8 months ago

CBSE > Class 12 > Accountancy

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Does partnership firm has a separate legal entity ? give reason for support of your answer

Posted by Pooja Das 5 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Ranbir Sharma Ranbir Sharma 5 years, 8 months ago

Parnership firm has no separate legal entity. It means that all agreement entered with the firm will be enforceable against each partner

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Interest on drawings

Posted by Pranesh Pranesh 5 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Ranbir Sharma Ranbir Sharma 5 years, 8 months ago

When a partner withdraw some amount from capital and he give some charge on amount are called intrest on drawing

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Raj has opening balance of capital as on 1april 2020 - Rs 30000. He introduced Rs 50000 as capital on 1jan 2021. He also withdrew Rs 30000 on 1 Jan 2021. Calculate interest on capital @10'/.

Posted by Jyoti Singhal 5 years, 8 months ago

CBSE > Class 12 > Accountancy

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If total debt = 2400000 Shareholders fund =400000 Reserve and surplus =100000 Current assets =1000000 Working capital =200000 Calculate total assets to debt ratio?

Posted by Adigking Gupta 5 years, 8 months ago

CBSE > Class 12 > Accountancy

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On 31 march 2016 after the close of accounts the capitals of Mountain,Hill and Rock stood in the books of firm at 400000,300000,200000 respectively. Subsequently it was discovered that interest on capital@10% p.a. had been omitted. The profit for the year amounted to 150000 and the partner's drawings had been Mountain 20000 Hill 15000 and Rock 10000 .. Calculate interest on capital

Posted by Payal Khatter 5 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Ranbir Sharma Ranbir Sharma 5 years, 8 months ago

intrest charge on opening capital Not on closing capital. M. H. R. 400000:300000:200000 -50000,50000,50000 profit +20000,15000,10000 drawing =370000×10/100=37000 M.int.on capital 265000×10/100=26500 H. 60000×10/100=16000 R.

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X transfers RS.500000 in the fixed deposit @6%p.a. in the bank. Pass journal entries

Posted by Trinayana Gohain 5 years, 8 months ago

CBSE > Class 12 > Accountancy