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    • Posted by Kadan Long 2 years, 10 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 1 answers

    Sia ? 2 years, 10 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 3 years, 5 months ago

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

    • Posted by Sofia Khan 3 years, 5 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 1 answers

    Yogita Ingle 3 years, 5 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 3 years, 6 months ago

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

    • Posted by Shivansh Singh 3 years, 6 months ago

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

    • Posted by Rekha Chouhan 3 years, 7 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 0 answers
    ANSWER
    Ali has starts his Shop, during the first month following events that take place. I. Ali start business with Rs.50,000 II. Paid rent in advance Rs.2,000 III. Purchased a typewriter for Rs.7000 IV. Bought furniture from M/s Mohan Furniture on credit for Rs.3,000 V. Purchased goods from Sohan for cash Rs.35,000 VI. Sold goods to Shyan for cash Rs.40,000 (costing Rs.30,000) VII. Bought goods from Ramesh for Rs.30,000 on credit. VIII. Sold goods to Shyam costing Rs.30,000 for Rs.50,000 on credit. IX. Purchased household goods for Rs.15,000 giving Rs.5,000 in cash and the balance through a loan. X. Paid half the amount owed to Mohan furniture. XI. Paid cash Rs.500 for loan and Rs.300 for Interest XII. Withdraw goods for personal use (cost Rs.500) XIII. Recieved full cash from Shyam . XIV. Paid full cash to Ramesh. XV. Paid salary Rs.500 and salary outstanding(salary due but not paid) Rs.100 Required: a) Analyze the transactions b) Show the effect on accounting equation. b) Record the transactions in journal entries c) Post the journal entries d) Prepares unadjusted trial balance.

    • Posted by Muntaha Wahab 3 years, 8 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 1 answers

    Linse James 3 years, 7 months ago

    pof

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    • Posted by Muntaha Wahab 3 years, 8 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 0 answers
    ANSWER
    Shelly Herzog opens a research service near a college campus. She names the corporation Herzog Researchers, Inc. During the first month of operations, July 2012, the business engages in the following transactions: I. Herzog Researchers, Inc., issues its common stock to Shelly Herzog, who invests $25,000 to open the business. II. The company purchases on account office supplies costing $350. III. Herzog Researchers pays cash of $20,000 to acquire a plot next to the campus. The company intends to use the land as a building site for a business office. IV. Herzog Researchers performs research for clients and receives cash of $1,900. V. Herzog Researchers pays $100 on the account payable that it created in transaction b. VI. Herzog Researchers pays cash expenses for office rent ($400) and utilities ($100). VII. The business sells a small parcel of the land for its cost of $5,000. VIII. The business declares and pays a cash dividend of $1,200. Required: c) Analyse the transactions. d) Show the effect of transactions on accounting equation. e) Record Herzog, Inc. journal entries f) Post the journal entries that Herzog, Inc. g) Prepares unadjusted trial balance for Herzog, Inc.

    • Posted by Muntaha Wahab 3 years, 8 months ago

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

    • Posted by Moonqadir Chikiwala 3 years, 11 months ago

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

    • Posted by Raj Kumar 4 years, 3 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 2 answers

    Rueshkumar Kumar 3 years, 10 months ago

    Hlo

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    Raj Kumar 4 years, 3 months ago

    Acounting ratio

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    Harish, Jagdish and Manish are partners in a firm sharing profits equally. On lst June Harish dies. His executor is entitled for the followings : Capital balance, share in General Reserve, share of goodwill, profit till date of death from the date of the last balance sheet. Accounts are closed on 31st March every year. On the date of death his capital balance was Rs. 45000 General Reserve was Rs. 2000, Goodwill was to be calculated on the basis of twice for the average of last three years profits. The average profit of the firm was Rs. 20000. Profit for the months of May and June is calculated on the basis of average profits. Interest on capital is allowed @9% pa. Drawings of Harish of the two months proceeding his death amounted to Rs. 5400. Prepare capital Account of Harish to be rendered to his executors.

    • Posted by Adarsh Dogra 4 years, 3 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 1 answers

    Manjinder Singh 4 years, 2 months ago

    48762

    10Thank You

    ANSWER

    • Posted by Rahul Ranjan 4 years, 4 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 1 answers

    Priyanka ..... 3 years, 7 months ago

    Goodwill is intangible asset not fictitious asset...It means reputation of the Business or Firm..

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    • Posted by Raja Bairagi 4 years, 5 months ago

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

    • Posted by Zoya Firdous 4 years, 5 months ago

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

    • Posted by Sumit Sachan 4 years, 5 months ago

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

    • Posted by Rashi Sharma 4 years, 7 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 1 answers

    Vivek Kumar 4 years, 6 months ago

    Scarcity means sortage of resources that fullfil our needs

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    • Posted by Lokesh Mahajan 4 years, 8 months ago

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

    • Posted by Bharat Kumar 4 years, 10 months ago

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

    • Posted by Sachin Prasad 5 years, 2 months ago

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

    • Posted by Sachin Prasad 5 years, 2 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 1 answers

    Piyush Gupta 5 years ago

    28283

    1Thank You

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    • Posted by Hritik Jaiswal 5 years, 2 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 1 answers

    Sachin Prasad 5 years, 2 months ago

    Yes

    1Thank You

    ANSWER

    • Posted by Hrithik Kumar Singh 5 years, 2 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 1 answers

    Yogita Ingle 5 years, 2 months ago

    It is very difficult to assess the value of goodwill, as it is an intangible asset. In case of sale of a business, its value depends on the mutual agreement between the seller and the purchaser of the business. Usually, there are three methods of valuing goodwill:
    1. average profit method
    2. Super profit method
    3. Capitalization method

    1Thank You

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    • Posted by Diwan Chand 5 years, 2 months ago

    ICSE & ISC > Class 12 > Accountancy
    • 1 answers

    Tushar Bindal 4 years, 9 months ago

    AP=1200+18000+16000+14000/4=48300 Goodwill=APx no of year purchase 48300x3=144900 ans

    1Thank You

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    • Posted by Hritik Ray 5 years, 5 months ago

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

    • Posted by Sana Singh 5 years, 8 months ago

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

    • Posted by Shivani Singh 5 years, 9 months ago

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

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