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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.
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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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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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