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Janvi Pal 1 year, 4 months ago

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Mr Thunder 1 year, 4 months ago

To prepare the Profit and Loss Appropriation Account for the year ended 31.3.2007, we need to follow these steps: 1. Calculate the total net profit of the firm. 2. Deduct John's monthly salary from the net profit. 3. Calculate David's commission on the remaining profit. 4. Allocate the remaining profit between David and John based on their profit-sharing ratio. Let's do the calculations: 1. Total net profit of the firm: Total net profit = Rs. 1,40,000 2. Deduct John's monthly salary: John's salary for the year = Rs. 2,500 * 12 months = Rs. 30,000 Remaining profit after salary = Rs. 1,40,000 - Rs. 30,000 = Rs. 1,10,000 3. Calculate David's commission: David's commission = 10% of Rs. 1,10,000 = Rs. 11,000 4. Allocate remaining profit between David and John: David's share = (4/5) * Rs. 1,10,000 = Rs. 88,000 John's share = (1/5) * Rs. 1,10,000 = Rs. 22,000 Now, let's prepare the Profit and Loss Appropriation Account: ``` Profit and Loss Appropriation Account For the year ended 31.3.2007 Particulars Amount (Rs.) ---------------------------------------- Net profit (as per P&L) 1,40,000 Less: John's salary 30,000 -------- Remaining profit 1,10,000 David's commission -11,000 -------- Remaining profit for distribution 99,000 David's share (4/5) 88,000 John's share (1/5) 22,000 -------- Total 1,10,000 -------- ``` This is the Profit and Loss Appropriation Account for the year ended 31.3.2007, showing how the net profit is distributed between David and John after deducting expenses and commission.
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Mr Thunder 1 year, 4 months ago

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Rishman Sohi 1 year, 4 months ago

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Mr Thunder 1 year, 4 months ago

"M. Hamel is a dedicated and passionate teacher who deeply cares about his students and their education. Despite facing adversity, such as the impending loss of his job due to political changes, he remains committed to teaching until the very end, imparting valuable lessons about the importance of one's language and culture. Little Franz is a young student who initially struggles with his studies, but he demonstrates a willingness to learn and grow, especially when he realizes the gravity of the situation regarding the French language ban. He represents innocence and the impact of education on young minds."
Om Parkash and Som Parkash commenced business in partnership on 1st April, 2017. No agreement was made either oral or written. They contributed 20,000 and ₹15,000 respectively as capital. On 1st October, 2017 Om Parkash advanced to the firm ₹10,000 as loan. On 15th November, 2017 Om Parkash met with an accident and could not attend the partnership business up to 15th February, 2018. The firm made a profit of 28,300 for the year ended 31st March, 2018, prior to the following claims, disputes having arisen between them for sharing profits: Om Parkash Claims: (1) Interest on capital and on loan @10% p.a. (ii) Profit sharing in capital ratio. Som Parkash Claims: (1) Profit sharing in equal ratio. No Partnership Deed (1) He should be allowed salary of ₹1,000 p.m. for the period of Om Parkash's illness. (1) Interest on capital and on loan should be given only @6% p.a. You are required to settle the dispute between them and distribute the profits according to the provisions of Partnership Act. State reasons for your answer
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Mr Thunder 1 year, 4 months ago

To settle the dispute and distribute the profits according to the provisions of the Partnership Act, we need to consider the following claims and provisions: Om Parkash's Claims: 1. Interest on capital and on loan @10% p.a. 2. Profit sharing in the capital ratio. Som Parkash's Claims: 1. Profit sharing in equal ratio. Additional Claim (No Partnership Deed): 1. Salary for Om Parkash's illness period. 2. Interest on capital and on loan @6% p.a. Let's address each claim: 1. **Interest on capital and on loan @10% p.a. (Om Parkash's claim):** According to the Partnership Act, partners are entitled to interest on capital only if there is an agreement to that effect. Since there is no agreement, interest on capital should not be allowed. However, interest on loan can be allowed as it is a liability of the firm. 2. **Profit sharing in the capital ratio (Om Parkash's claim):** In the absence of a partnership agreement, profit sharing is done in the ratio of the capital contributed by each partner. Therefore, the profit should be shared in the ratio of 20,000 : 15,000, which is 4:3 between Om Parkash and Som Parkash respectively. 3. **Profit sharing in equal ratio (Som Parkash's claim):** Since there is no partnership agreement, and profit sharing is based on the capital ratio, Som Parkash's claim for equal profit sharing cannot be entertained. 4. **Salary for Om Parkash's illness period (No Partnership Deed):** Partners are not entitled to salary unless there is a specific provision in the partnership agreement. Therefore, the claim for salary cannot be entertained. 5. **Interest on capital and on loan should be given only @6% p.a. (No Partnership Deed):** Since there is no partnership agreement, interest on capital and loan should be given at the rate specified in the Indian Partnership Act, which is 6% p.a. Based on the above analysis, the profits should be distributed as follows: - Total profit: Rs. 28,300 - Om Parkash's share (4/7): Rs. 16,100 - Som Parkash's share (3/7): Rs. 12,200 Om Parkash will not be entitled to interest on capital but will receive interest on the loan @6% p.a. Som Parkash will receive his share of profit without any additional claims. This distribution is fair and in accordance with the provisions of the Partnership Act, considering the absence of a partnership agreement.
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Krishna Rajput 1 year, 4 months ago

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Muskan Bhardwaj 1 year, 4 months ago

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Mr Thunder 1 year, 4 months ago

1. Know the syllabus. 2. Focus on weak areas. 3. Plan a study schedule. 4. Use textbooks and resources. 5. Practice previous papers. 6. Solve practice questions. 7. Ask for help if needed. 8. Use visual aids. 9. Revise regularly. 10. Stay calm and confident. Keep it simple, stay focused, and put in consistent effort. Good luck!
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Mr Thunder 1 year, 4 months ago

The theme of "My Mother at Sixty" by Kamala Das revolves around the passage of time, the changing dynamics of parent-child relationships, and the acceptance of aging. The poem reflects on the poet's observations of her mother's aging process and her own feelings of guilt and regret for not fully appreciating her mother's youth and vitality while she had it. It also explores themes of love, nostalgia, and the inevitability of mortality.
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Ayush Upadhyay 1 year, 4 months ago

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Mr Thunder 1 year, 4 months ago

In brief A government budget is a financial plan that outlines the government's revenues and expenditures for a specific period, usually a fiscal year. It serves as a blueprint for allocating financial resources to various sectors and activities of the government, including public services, infrastructure development, social welfare programs, defense, and debt repayment. The government budget typically consists of two main components: 1. Revenue: This includes all sources of income for the government, such as taxes, tariffs, fees, fines, grants, and borrowing. 2. Expenditure: This includes all government spending on goods, services, investments, and transfer payments, such as salaries, subsidies, infrastructure projects, healthcare, education, and defense. Importance of Government Budget: 1. Resource Allocation: The budget allows the government to allocate financial resources efficiently and effectively to meet the needs and priorities of the country. It helps in determining which sectors and programs receive funding and how much. 2. Economic Stability: The budget plays a crucial role in maintaining economic stability by regulating aggregate demand, controlling inflation, and managing fiscal deficits. Government spending and taxation policies influence overall economic activity and growth. 3. Policy Prioritization: The budget reflects the government's policy priorities and objectives, such

Mr Thunder 1 year, 4 months ago

A government budget is a financial plan outlining a government's income and spending for a specific period. It's important because it allocates resources, stabilizes the economy, sets policy priorities, ensures fiscal discipline, enhances public accountability, and enables planning and forecasting.
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Mr Thunder 1 year, 4 months ago

In "My Mother at Sixty" by Kamala Das, the poet reflects on her mother's aging process and her own feelings of guilt and regret for not fully appreciating her mother's youth and vitality while she had it. The poem portrays the poet's observations of her mother's physical changes and her struggle with accepting the passage of time. It delves into the complexities of the parent-child relationship and the poet's realization of the inevitability of mortality. Through vivid imagery and emotional introspection, the poem explores themes of love, nostalgia, and the bittersweet nature of aging.
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Mr Thunder 1 year, 4 months ago

The title "Lost Spring" suggests a theme of lost opportunities, dreams, or innocence associated with the season of spring. In the context of the story, "Lost Spring" by Anees Jung, the title encapsulates the idea of the lost childhoods and aspirations of the children working in the brassware industry in Firozabad. These children, deprived of their right to education and a carefree childhood, are forced into labor due to poverty and societal constraints. The title symbolizes the loss of the springtime of their lives, where they should be experiencing growth, hope, and renewal, but instead, they are trapped in a cycle of exploitation and hardship.

Kavita Kavita 1 year, 4 months ago

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Paras Sharawat 1 year, 4 months ago

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Yogesh Yogi 1 year, 4 months ago

J.J.Thomson

Abhinav Mishra 1 year, 4 months ago

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