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    • Posted by Hitanshi Parmar 1 week ago

    ICSE & ISC > Class 12 > Accountancy
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    • Posted by Kunal Agarwal 1 month, 1 week ago

    ICSE & ISC > Class 12 > Accountancy
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    • Posted by Piyush Singh 2 months ago

    ICSE & ISC > Class 12 > Accountancy
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    • Posted by Ariba Ali 3 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 0 answers
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    Active blunt end circle started a business on 1st April 2017 with capital of 450000 6 lakh and 350000 according to partnership agreement: (1) profit earned in any year will be distributed as under: Up to 270000-equally Excess over 270000-one-half to active,one sixth to blunt and one third to circle (2)provide interest on capital and drawing @6%p.a. (3)circle is entitled to get a monthly salary of 4000 and Bullet is entitled to get a monthly salary of 6000 in addition to above circle and blunt are entitled to get a commission of 5% each on net of profit after taking into consideration the interest and all commissions Drawing of partners during the year were: Active withdrew regularly 5000 at the beginning of every month Blunt withdrew regularly 7000 at end of every month Circle withdrew 80000 during the year Profit for the year 593120 prepare partners current account

    • Posted by N A 7 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 0 answers
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    • Posted by Bhawer Sing 7 months ago

    ICSE & ISC > Class 12 > Accountancy
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    • Posted by Bhawer Sing 7 months ago

    ICSE & ISC > Class 12 > Accountancy
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    • Posted by Arya Ojha 8 months ago

    ICSE & ISC > Class 12 > Accountancy
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    • Posted by Shambhavi Pandey 8 months, 2 weeks ago

    ICSE & ISC > Class 12 > Accountancy
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    • Posted by Ekta Tigga 8 months, 3 weeks ago

    ICSE & ISC > Class 12 > Accountancy
    • 0 answers
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    Psr

    • Posted by Mahimaa Panjwani 1 year ago

    ICSE & ISC > Class 12 > Accountancy
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    • Posted by Hasan Rizvi 1 year ago

    ICSE & ISC > Class 12 > Accountancy
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    • Posted by Meghana Ele 1 year, 3 months ago

    ICSE & ISC > Class 12 > Accountancy
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    • Posted by Meghana Ele 1 year, 3 months ago

    ICSE & ISC > Class 12 > Accountancy
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    Manoj naresh and Om where commerce students they had obtained computer as a vocational subject while doing their BCom they decided to start a computer business after doing their become they prepared a partnership deed containing the following process name of the frame will be first computers capitals Manoj will contribute 400000 and narration Om 300000 his profit sharing ratio profit will be shared in the ratio of capital contribution interest on capital interest on capital will be allowed at 10:00 % per annum it will be ordered one leave when there is profit interest on drawing interest on drawings is to be charged that while % per annum salary to a partner no partners entitled to any salary aur commission for taking part in the conduct of business they started business on 1st April 2019 and each partner deposited the shares of capital in the bank account opened in a friend's name on the same date they purchased in computers at 60000 each and made the payment from the bank they deposited 20000 from the electric connection in the electricity board and take a deposit of 120000 with me as a null for Internet and telephone connection they got the computer Cafe furnished by play paint 30,000 they also spent 5000 on advertisement all payments were to be made by checks and all the rest were to be deposited in the bank on the same day at the end of the year the results were purchases on computer stationery 80000 revenue from fees received from students 240000 revenue on account of internet facility 210000 revenue from sales of computer stationery 150000 wages paid to rent 9600 telephone charge 62000 electricity 36000 entertainment expenses 5500 maintenance expenses 6030 expenses 4000 they withdrew from the bank for their personal use as follows Manoj 50000 rs 20,000 and Om 10000 you are required to join analyse the about transaction post them into ledger accounts and prepare a trial balance prepare trading and profit and loss account and balance sheet taking into consideration that the telephone bill bill 15000 City bill of 3008 to be played charge depreciation at the rate of 25 % on computers and 50% on furniture shop comment on the efficiency of the business if the gross profit ratio and net profit ratio similar type of the business concern or 45 % and 20 % respectively their approach to the bank for a loan of 400000 compute the ration ratios that the banker will require from the granting the loan.

    • Posted by Anu Sharma 1 year, 4 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 0 answers
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    • Posted by Anu Sharma 1 year, 4 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 0 answers
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    • Posted by Kartik Raisinghani 1 year, 4 months ago

    ICSE & ISC > Class 12 > Accountancy
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    • Posted by Kartik Raisinghani 1 year, 4 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 0 answers
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    myCBSEguide person 3. Angad, Fateh and Kothari were … Homework Help CBSE Class 12 Accountancy  CBSE, JEE, NEET, NDA Question Bank, Mock Tests, Exam Papers NCERT Solutions, Sample Papers, Notes, Videos Install Now 3. Angad, Fateh and Kothari were partners in a firm sharing profits in the ratio of 3 : 4 : 5. The fixed capitals were Angad Rs.2,00,000, Fateh Rs.2,50,000 and Kothari Rs.3,00,000 respectively. The partnership deed provided for the following: (i) Interest on capital @6% p.a. (ii) Salary of Rs.15,000 p.a. to Kothari. (iii) Interest on partner’s drawings will be charged @12% p.a. (iv) During the year ended 31.3.2009 the firm earned a profit of Rs.1,35,000. (v) Angad withdrew Rs.5,000, Fateh withdrew Rs.6,000 and Kothari withdrew Rs.7,500 on 31.12.2008. Prepare profit and loss appropriation account

    • Posted by Ahmer Siddiqui 1 year, 5 months ago

    ICSE & ISC > Class 12 > Accountancy
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    • Posted by Sania Dsouza 1 year, 5 months ago

    ICSE & ISC > Class 12 > Accountancy
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    Bill fill and gill are partners in a firm sharing profits and losses in the ratio of their capitals which stood at 120000,100000 and 80000as at 31 narch 2020. The partnership allows interest on capital @7% and interest on [email protected]%p a. Bill and gill are entitled to a salary of rs 8000 and 7500 whereas fill is entitled to a commission bof 2%on sales of rs 500000 and resulting in the net profit of rs16000.also fill is entitled to receive a commission of 4% after charging such commission and after all the above appropriation but before transfer to reserves.the partners also decide to transfer rs 10000 of divisible profitsto be transfered to general reserve the partners with drew bill rs 50000 during the year,gill 25000 on july 1 ,2020and fill rs 400 at the end of each month.there was also an amount of rs9000 due for rent to gill the adjustment for which has not been considered.prepare profit and loss appropriation

    • Posted by Jasleen Tarhen 1 year, 6 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 0 answers
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    • Posted by Simar Kaur 1 year, 6 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 0 answers
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    • Posted by Mandeep Sandhu 1 year, 6 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 0 answers
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    • Posted by Rani Prasad 1 year, 10 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 0 answers
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    • Posted by Kadan Long 2 years, 1 month ago

    ICSE & ISC > Class 12 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Kadan Long 1 year, 8 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 1 answers

    Sia ? 1 year, 8 months ago

    Basis of Difference

    Comparative

    Common Size
    Meaning The comparative statements are that statement which shows the comparison between the component of the financial statement of the business for the period of more the two years The Common-Size statement is that statement which shows the percentage to a common base of all accounts of the financial statement of the business for the period of more than two years.
    Base of Comparison In this, the value of the basis year compared with the value of the current year. In this, the value of the current year compared with the current year. 
    Number of Years required  Minimum Financial Statements of two years are required. The financial Statement of One year is required.
    Results expressed in The results are expressed in the pictorial as well as percentage form.  The results are expressed in the percentage form.
    Type of Comparision included It included both types of Intra and inter-firm comparison.  It included only inter-firm comparison.
    Helps in It helps in the decision making for the management for future planning.  It helps the stakeholder in the decision of the investment. 
    Useful in  It is useful to compare the current year results with the prevision year.   It is useful to compare the current year results with its competitors’ results. 

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    • Posted by Sagarika Rai 2 years, 2 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 0 answers
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    • Posted by Sofia Khan 2 years, 3 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 1 answers

    Yogita Ingle 2 years, 3 months ago

    Dissolution of a firm: As per Indian Partnership Act, 1932: “Dissolution firm means termination of partnership among all the partners of the firm”

    When a firm is dissolved, the business of the firm terminates. All the assets the firm are disposed off and all outsiders’ liabilities and partners’ loan and partner capital are paid.

    Dissolution of Partnership: Dissolution of Partnership refers to terminal of old partnership agreement (i.e., Partnership Deep) and a reconstruction the firm.

    It may take place on

    · Change in profit sharing ratio among the existing partner:

    · Admission of a partner; and

    · Retirement of Death of partner.

    It may or may not result into closing down of the business as the remount partners may decide to carry on the business under a new agreement.

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    • Posted by Diya Gupta 2 years, 3 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 0 answers
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    • Posted by Shivansh Singh 2 years, 4 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 0 answers
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