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This section includes 7 InterviewSolutions, each offering curated multiple-choice questions to sharpen your Current Affairs knowledge and support exam preparation. Choose a topic below to get started.
| 2. |
Orfeiture Entries) A company had allottedshares is 100 and the premium is 20% Application money is 30 including 50% premiumard allotment is 50 (including balance of premium). The rest of face value is called on firstand final call. Maninder had applied for 2,200 shares. His excess application money isretained for allotment. He did pay any amount did not pay any amount after application.Pass forfeiture entry. |
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Answer» Answer: |
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| 4. |
व्यक्तिगत उपयोग के लिए निकाला गया पैसा क्या कहलाता है |
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Answer» आहरण drawings Explanation: |
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| 5. |
What is rreceived in advance |
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Answer» Answer: what is the exact question PLZZZ SUBSCRIBE and like my chanal LEGEND GIRL its a new chanal with ONE LYRICAL VIDEO its my very first video plzz support me |
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| 6. |
Счаса to prepare PIUILau CUS APPTSlu2020 and Partners' Capital Accounts as on that date.45St MitahadtobeMT13,00,000 which is credited to her account.(ii) 20% of profit to be transferred to General Reserve.(iii) Roli and Moli to get a monthly salary of 75,000 and 37,500 respectively.(iv) Moli is entitled to a fixed commission of 17,500.(V) Interest on Capital @ 12% p.a. and Interest on Drawings @ 10% p.a.(vi) Sharing of profit or loss will be in the ratio of their capital contributions.52antwas 6,13,437. Drawings of Roli and Moli were 1,00,000 and 1,25,000 respectively.Pass necessary Journal entries relating to rent and appropriations out of profits. Prepare Profitand (b) Fixed.Partnership Deed, the partners are entitledRoli and Moli started a partnership business on 1st April, 2019. They contributed * 2,00,000 and* 1,50,000 respectively as their capitals. The terms of the partnership agreement are given below(i) Roli provides her personal office to the firm for business use and charging yearly rentProfit for the year ended 31st March, 2020 before providing rent to Roli and above appropriationLoss Appropriation Account and Parnters' Capital Accounts assuming that capitals are (a) Fluctuating |
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Answer» Answer: SOORY ICANT understand that answer ok bro SORRY ASK other and plxzzzzzz FOLLOW me |
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| 7. |
Is root cause for financial accounting1 point(a) Stewardship accounting(b) Social accounting(c) Management accounting(d) Human resource accounting |
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Answer» Answer: STEWARDSHIP accounting (a) Explanation: In its oldest form, accounting aided the STEWARDS to discharge their stewardship function. The wealthy men employed STEWARD to manage their property; the steward in return RENDERED an account periodically of their stewardship. Thus 'Stewardship Accounting' was the root of FINANCIAL accounting system. |
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| 8. |
Y Ltd. has 2,00,000 9% redeemable preference shares of 10 each fully paid. Thecompany decides to redeem the shares at par. For the purpose, it issues 80,000 equityshares at 10 each. The Board also decides to utilise a general reserve of 7,00,000 andany amount required from profit and loss account which has a credit balance of 7 6,00.000,The issue was fully subscribed and all the amounts were received. The redemption wasduly carried out. Give journal entries.llar paid redeemable preference shares of 100 each, each |
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Answer» what is this I am not having any answer I don't know LET any one answer you can SEARCH from GOOGLE |
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| 9. |
A). A, B and C are partners in a trading firm. The firm has a fixed capital of*60,000 held equally by all the partners. Under the partnership deed,the partners were entitled to:(a) A and B to a salary of 1,800 and 1,600 p.m. respectively.(b) In the event of the death of a partner, Goodwill was to be valued at2 years' purchase of the average profits of the last 3 years.(c) Profit upto the date of death based on the profits of the previousyear.(d) Partners were to be charged interest on drawings at 5% p.a. andallowed interest on capital at 6% p.a.A died on 1st January, 2020. His drawings to the date of death were2,000 and interest thereon 60. The profits for the 3 years ending 31stMarch, 2017, 2018 and 2019 were * 21,200, * 3,200 (Dr.) and 9,000respectively.Prepare A's Capital A/c to calculate the amount to be paid to his(C.B.S.E., 2011-A1-C - modified)executors.[Ans. Due to Executors 43,290] |
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Answer» Answer: A). A, B and C are partners in a trading firm. The firm has a fixed capital of *60,000 held equally by all the partners. Under the PARTNERSHIP deed, the partners were entitled to: (a) A and B to a salary of 1,800 and 1,600 p.m. RESPECTIVELY. (b) In the event of the death of a partner, Goodwill was to be VALUED at 2 years' purchase of the average profits of the last 3 years. (c) Profit upto the date of death based on the profits of the previous year. (d) Partners were to be charged interest on drawings at 5% p.a. and allowed interest on capital at 6% p.a. A died on 1st January, 2020. His drawings to the date of death were 2,000 and interest thereon 60. The profits for the 3 years ending 31st March, 2017, 2018 and 2019 were * 21,200, * 3,200 (Dr.) and 9,000 respectively. Prepare A's Capital A/c to calculate the amount to be paid to his (C.B.S.E., 2011-A1-C - modified) executors. [Ans. Due to Executors 43,290] |
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| 10. |
There are 100 member each paying an annual subscription of 500 the recipient and |
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Answer» AMT. of SUBSCRIPTION is 50000 Explanation: |
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| 11. |
A & B are partners in a firmsharing profits and losses inthe ratio of 6:4,C is admittedas a new partner, Asurrenders 175th share of hisprofit in favour of C and Bsurrenders 2/5th of his sharein favour of C.Calculate newprofit sharing ratio.A)3:2:1B)12:6:7C)13:6:7D)7:6:13Correct answerB)12:6:7Steps for the answer? |
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Answer» for OBTAIN sac. RATIO you have to done OLD p.s.r.-new p.s.r. Explanation: PLEASE mark it brainailist |
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| 12. |
Iy:Jull alu lile prohit-sharing ratio. Give necessaryThe balances of Capital Accounts on 1st April, 2015 were: Roshan 8,00,000, Mahesh 75,00,000, Gopi* 6,00,000 and Jai * 6,00,000.After the accounts for the year ended 31st March, 2016 were prepared, it was discovered that intereston capital @ 10% per annum as provided in the Partnership Deed had not been credited to thePartners' Capital Accounts before the distribution of profits.You are required to rectify the error by passing a single adjusting Journal entry.(ISC 2017)163 Roshan, Mahesh, Gopi and Jai are partners sharing profits and losses in the ratio of 3:3:2:2. |
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Answer» My guess is they' re all re-marking this position, and a LOT of them have also TAKEN material capital off the table |
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| 13. |
On 1st Jan. 2020, the position of Prakash was as follows: Stock in hand ₹2400, Bills payable ₹400, cash at bank ₹1800, plant and machinery ₹1000, debtors ₹500, creditors 800, investments ₹1300, loan from Sethi ₹1500. What was the amount of Prakash’s capital on this date? Show an opening entry. |
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Answer» Explanation: total of assets--stock. 2400 bank. 1800 plant machinery. 1000 debtors. 500 INVESTMENT. 1300 -----------. 7000 Less total liabilities--bills payable 400 creditors. 800 ----------. 2700 ------------Prakash's capital. 4300 -------------Opening entry --
stock a/c dr. 2400 bank a/c dr. 1800 plant and machinery. 1000 debtor a/c dr. 500 investment a/c dr. 1300 to bills payable. 400 to creditors 800 to loan from Sethi. 1500 to capital a/c. 4300 |
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| 14. |
Y Ltd. has 2,00.000 9% redeemable preference shares of 10 each fully paid. Thecompany decides to redeem the shares at par. For the purpose, it issues 80,000 equishares at 10 each. The Board also decides to utilise a general reserve of 7,00.000any amount required from profit and loss account which has a credit balance of 6,00.000The issue was fully subscribed and all the amounts were received. The redemption wasduly carried out. Give journal entries.deemable preference shares of 100 |
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Answer» Answer: Preference shares are to redeemed using some of the company's ASSETS and ISSUING new shares. Preferencesharetoberedeemed=Facevalueofshare+Premium Substitute values in the above equation Preferencesharetoberedeemed=Rs6,00,000+Rs60,000=Rs6,60,000 Equitysharestobeissue= Marketvalueofshare RedeemableValue−Cashused−Salevalue
Substitute values in the above equation Equitysharestobeissue= 105 Rs6,60,000−Rs50,000−Rs4,00,000
= 105 Rs2,10,000
=2000shares Hence, X LTD has to issue 2000shares for the redemption purpose. my friend hope it will help U |
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| 15. |
Give me solution please and quick |
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Answer» Answer: please mark it brainailist |
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| 16. |
What will be the journal entry for goods used in making furniture ( sale price 5000 and cost price 4000) |
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Answer» Furniture A/c Dr. 4,000 To Purchases A/c 4,000 (being own STOCK used for making furniture costing 4,000) Many GOT confused to write 5000 or 4000 but here, It is 4000 as our own stock has been used. |
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| 17. |
What will be the question pattern in the milestone challenge?a. Multiple Choice Questionsb. Fill in the blanksc. Coding in HackerRank based on the given scenario |
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| 18. |
To Life12. The following is the receipts and Payments account of "Vidya Nagar Welfare Associationfor the year ended 31st December, 2015.Receipts and Payments A/cTo EntrCr.Dr.To DonAmountTo SalReceiptsAmountPaymentsityiTo SalTo BalanceTo Entrance FeesTo Subscriptions 2013-14CY? To Subscriptions 2014-15To Subscriptions 2015-16To Function Hall rent3,000 By Rent14,4005,500 By Stationery2,8702,000 By Wages D9,80085,000 By Construction cost of dinning hall A 39,0002,000 By Maintenance expenses D5,4101,600 By Interest D6,200To Dinner receipts7,600 By Furniture A2,00013,000By Fixed depositBy Dinner expenses D5,80014By Balance A8,220DI1,06,7001,06,700Additional Information1. Capital fund of the association is 5,300.2. Hall rent 300 related to last year and 400 received in advance.3. Outstanding subscriptions for current year 1,600Prepare Income and Expenditure account and Balance sheet from the above information.Bus |
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Answer» dmgkajwjsksk Explanation: djfkfidofjajdjskhsuhsuieyhi ZO do |
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| 19. |
calculate the amount of subscription to be elected to income and expenditure account for the year ended 31st March 2019 |
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Answer» Answer: hi Explanation: Total Subscriptions received during the year ended 31st MARCH, 2018 – ₹ 35,400 (including ₹ 400 for the year ended 31st March, 2017 ₹ 1,200 for the year ended HOPE THIS HELPS ❤️ PLEASE MARK AS BRAINLIEST ❤️❤️ |
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| 20. |
sales return of $690 were credited to receivable and debited to both sales account and the discount receive account |
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| 21. |
6. Prepare two-column cash book (ie cash and discount) from the followisSantosh Kumar20142March 1 Cash in hand45,000March 2 Bought goods for cash3.000March 3 Deposited into bank31,000March 4 Paid for postage stamps60Sold goods for cash250March 6 Paid to Brij Mohan cash4,100discount allowedPaid for wages390March 11 Received from Dinesh cash2.900100discount allowed500March 14 Bought from Dinesh goods for cash |
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Answer» please send me again your question I am unable to understand your question Explanation: MARK ME AS BRAINLIST PLZ |
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| 22. |
Goods of Rs.3000 sold on cash to parcel out of which 50% amount received by cheque. Write the journal entry |
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Answer» Answer: These SOLUTIONS for Books Of ORIGINAL Entry Cash Book are extremely ... 20, Sold goods to Dev Raj for Cash, 80,000 ... 15, Received cheque from Surendra and sent it to Bank, 6,600. Explanation:
HOPE it helps MARK me brainlist ☑️☑️ |
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| 23. |
Salary of gappu paid journal entry |
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Answer» I do not UNDERSTAND this question Explanation: LIKE PLZ plz plz |
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| 24. |
The above question is related to class 11 accounts |
Answer»
all LIABILITY are cr same as above |
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| 25. |
ARMeclevedin cheque3 Bank interest PaidMs 250 |
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Answer» Answer: I can't understand it it is quiet CONFUSING can you pls send the pic buddy then I can HELP you |
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| 26. |
56. The following particulars are available in respect of the business carried on by a partnership firm:(a) Profits eamed:32017201854,000201962,000(b) Profit for 2018 is reduced by + 6,000 due to stock destroyed by fire and profit for 2017 included anon-recurring income of 5,000(c) The stock is not insured and it is thought prudent to insure the stock in future. The insurancepremium is estimated at 600 pa(d) Fair remuneration to the partners (not taken in the calculation of profits) is * 24,000 pa,You are required to compute the value of goodwill on the basis of 2 years' purchase of the average profitof the last 3 years, |
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Answer» Answer: Bhai PATA nhi tum KAHI aur SE puch lo yaar sorry Mark as Brainlest |
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| 27. |
M/S Sachin Electricals has a branch at Faridabad. All the goods are supplied from the head office at cost + 20% and all the expenses are paid by head office. Prepare the Branch Account in the books of head office for the year ending 31st March 2020. |
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Answer» ususbsusbsbdixucjcjcc |
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| 28. |
5. M/S Sachin Electricals has a branch at Faridabad. All the goods are supplied from the headoffice at cost + 20% and all the expenses are paid by head office. Prepare the BranchAccount in the books of head office for the year ending 315 March 2020.Balance as on 1-4-2019:RS.Stock at Invoice Price30,000Debtors10,000Furniture6,000Petty cash1,000Insurance prepaid300Salary outstanding4,000Goods sent to Branch2,40,000Cash sales2,70,000Total sales3,50,000Goods returned from branch2,400Goods returned by Debtors1,000Cash sent to branch for expenses:Rent (Rs. 800 p.m.)9,600Salary (Rs. 4,000 p.m.)48,000Petty cash2,000Insurance (up to June, 2020)1,20060,800Petty cash expenses2,200Cash received from Debtors65,000Cash paid by Debtors direct to H.O.5,000Discount allowed to Debtors500Stock on 31-3-202018,000Goods costing Rs. 2,500 were damaged in transit and a sum of Rs. 2,000 was receivedfrom Insurance Company. Provide depreciation on furniture at 10% p.a. |
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Answer» ussusjdjdhxhchsjvhxujcjxhjdhgchf |
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| 29. |
journalize transactions: April1 started business with 1,00,000;April6 sold goods to Kishore on 43,000 |
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| 30. |
Case study on error of duplication |
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Answer» #sssssssssssssssssssss |
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| 31. |
5. M/S Sachin Electricals has a branch at Faridabad. All the goods are supplied from the headoffice at cost + 20% and all the expenses are paid by head office. Prepare the BranchAccount in the books of head office for the year ending 31st March 2020.Balance as on 1-4-2019:RS.Stock at Invoice Price30,000Debtors10,000Furniture6,000Petty cash1,000Insurance prepaid300Salary outstanding4,000Goods sent to Branch2,40,000Cash sales2,70,000Total sales3,50,000Goods returned from branch2,400Goods returned by Debtors1,000Cash sent to branch for expensesRent (Rs. 800 p.m.)9,600Salary (Rs. 4,000 p.m.)48,000Petty cash2,000Insurance (up to June, 2020)1,20060,800Petty cash expenses2,200Cash received from Debtors65,000Cash paid by Debtors direct tº H.O.5,000Discount allowed to Debtors500Stock on 31-3-202018,000Goods costing Rs. 2,500 were damaged in transit and a sum of Rs. 2,000 was receivedfrom Insurance Company. Provide depreciation on furniture at 10% p.a. |
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Answer» pretty BIG question but I don't know the answer i THINK I got wrong answer |
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| 32. |
NWD full form in HDFC |
Answer» ▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃ɧσ℘ε ıt ɧεɭ℘ร шıtɧ гεɢศгɖร ❣ ศг + ŋศv ❣ |
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| 33. |
6. Ajit Gaurav & Nitin are partners sharing profit and losses in the ratio of 4 3.3 TheirBalance Sheet as on 31 March 2020 stood as follows:Rs.40.00015,000AssetsFixed AssetsDebtorsRS40,00024,000LiabilitiesCreditorsLoan from Bank(Secured on Stock)Loan from AjitCapital10,000Stock20,0001,00030,000Prolit and Loss AccountAjitGauravNitin20,00020.00010,0001.15.0001,15,000The firm was dissolved. The stock realized 50% fixed assets and debtors realized Rs. 30,000 inall. The private position of the partners was under.Private AssetsPrivate LiabilitiesRS.RsAjit10,00015,000Gaurav8,0006,000Nitin was able to pay 50 paise in the rupees what was payable on his own accounts to the firm,The loss on realization is to be determined after considering the amount finally paid to creditors,Prepare Realisation Account Partners, Capital Accounts, Bank Account and Deficiency Accountto close the books of the firm, |
Answer» uuyofyorlydylzirdktditzykkztkzktjyslxkt tmzgmxkxktxmhcmyztxfmHxlyfls4udo6d96 d6d6leoool6dldl7si6dldylzjtxu3a7r5ow7row4ur7ps5ixkyx⁵ktzk5xo65ksl7dd7r7f7ldlysjrxgmxhmifufyld6kfyljduldyeouldelysoydlydlyslyxkyxlylcluc clhxlyxktxluslyxlufp7dowi5l7xlydylflyfuls6l7rp7c8l7dd7lr0r7pr7prlurpp and tp7fp7fulfludoyculdlyudyldkyfludktculclyxlyu kydly I kv7lfo6doleulxktclhxlyxlhcoydufi4suflxymzj4sya3ufulsuydlf7lfltaylgktg MG ktsuclysxlxbobhope it HELPS you |
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| 34. |
Balance you are required to prepare a Trading and Profit and Loss A/c for the year ended 31" March, 2013 and a BalanceSheet as on that date, after taking into consideration the additional information provided.Trial Balance as on 31st March, 2013ParticularsDebit (6) Credit (R)Purchases & Sales1,24,5002,54,800Capital - Ramesh25,000Capital - Suresh30,000Debtors & Creditors14,57054,200Machinery72,000Plant50,000Land and Building1,32,000RDD2,500Bad Debts5,400840CashBank Overdraft26,40045,025Salaries25,060Wages1,240Office Expenses41,570Opening Stock1,250Postage & Telegram3,245Carriage Inward1,25,00012% Bank Loan6,300Discount Received7,5005,24,200 5,24,200InsuranceAdditional Information : 1) Closing stock was valued at $78,450.2) Ramesh withdrew goods worth 10,050 for personaluse. 3) Machinery is depreciated at 10% whereas plant at 5%, 4) Insurance was for 2 years starting from 1.10.20125) Partners decided to maintain RDD at 4% of Debtors. |
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Answer» the BEST of LUCK to you and your FAMILY and FRIENDS ❤️❤️❤️❤️❤️❤️ |
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| 35. |
March 2020, Balance Sheet as on 1st April 2019 and additional information, prepare Receipt andPayment Account for the year ending 31st March 2020 & a Balance sheet as on 31st March 2020.Income & Expenditure Account(For the year 31st March 2020)Expenditure Rs. Income Rs.To Salaries 6.000 By Subscription 11,280To Rent 1,320 By Entrance Fee 720To Travelling Expenses 60 By Donation 1,200To Printing and Stationery 120 By Interest 600To General Expenses 180To Equipment used 3,000To Surplus 3,12013,800 13,800Balance Sheetas on 1st April 2019Liabilities Rs. Assets Rs.Capital Fund 20,700 Furniture 4,000Rent outstanding 120 Building 8,000Salaries outstanding 780 Investment 6,000Sports Equipment 1,200Bank '1,680Accrued Interest 120Subscription Due 600.21,600 21,600Additional Information: (Balance as on 31st March 2020)Subscription receivable was Rs.960Salaries outstanding was Rs.480Rent outstanding was Rs.240 |
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Answer» sorry friend, I NEED some point to ASK questions because tomorrow my EXAM. |
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| 36. |
Which 2 statements are correct about using the client details and dashboard screens of QuickBooks Online Accountant and working with client company files?(Select all that apply)Notes will automatically be pinned unless you uncheck the Pin boxClients who don't have a QuickBooks Online Company can't have their details displayed on the Client List screen of QuickBooks Online AccountantYou can import QuickBooks Online Prep for Taxes data into ProConnect Tax Online to prepare tax returns via the client dashboardYou can start a new tax return from the client dashboard for non-QuickBooks Online clients or clients that are using QuickBooks Online |
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Answer» djdjdjjshshdhdjdjjdjr |
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| 37. |
How to know which format to apply for cashbook...single column...double column? |
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Answer» Answer: please mark me as Brainliest Explanation: watch out in your QUESTION....it will be provided single column or DOUBLE column....double column cash book SPECIALLY contains a DISCOUNT column... look in the question if u have to prepare discount column |
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| 38. |
a p and c are partners sharing profit and losses in the ratio 2 ratio 2 ratio 1 from 1st April 2019 they decide to share profit and loss equally following balances appeared in their books profit and loss account credit 20,000 advertisement suspense account Abbott 15000 workmen compensation reserve 60000 it was agreed that could we should be valued at 2 years purchase of super profit from average profit are 75000 capital invested in the business is 600000 and normal rate of return is 10% |
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Answer» Answer: 99999999999999999990000000000000 Explanation: jsjnsndkdksksmdkdmdjffifogkfhdhfnfkmcjmरिकॉर्डिंग हैंडसेट टुडे |
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| 39. |
Journalise the following transactions of M/s Time Zone and post them to the ledger accountDetalls2017Dec. 01Dec, 02Dec. 04Dec. 10Dec. 12Dec. 14Dec. 16Dec. 18Dec. 19Dec. 20Business started with cashOpened a bank account with ICICIGoods purchased for cashPaid cartageGoods sold on credit to M/s Lara IndiaCash received from M/s Lara IndiaGoods returned from Lara IndiaPaid trade expensesGoods purchased on credit from TaranumCheque received from M/s Lara India for final settlementand deposited sameday into bankGoods returned to TaranumPaid for stationeryCheque given to Taranum on accountPaid rent by chequeDrew cash for personal useCash salesGoods sold to M/s Rupak TradersAmountRS.1.20,0004.00.0012.00050025.00010,0003.00070032,00011.500Dec. 22Dec. 24Dec. 26Dec. 28Dec. 29Dec. 30Dec. 311.5001.20020.0004,00010.00012.00011.000 |
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Answer» ossoooooo the QUESTION EVEN THOUGH I am FOLLOWING up on the question even though I am |
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| 40. |
5. (Avg. Profit Method) Goodwill is to be valued at two years purchase of 3 years normalaverage profit of the firm. The profit for 2014-15, 20,000 (including insurance claimreceived of * 40,000). The loss for 2015-16 8,000 (including voluntary retirementcompensation paid * 1,10,000). The profit for 2016-17 > 1,05,000 (including a profit of25,000 on the sale of a fixed asset. Calculate the value of goodwill.arnAns. 1,08,000]6 lent |
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Answer» Answer: 44,660 Explanation: Add TEXT here to the END of your text and click the link below to VIEW |
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| 41. |
Shobhit purchased a machine three rears before for Rs. 10,00,000 . Present book value of machine (after depreciation ) is Rs. 7,00,000 but market value of machine is Rs.6,20,000 . Shobhit wants to record machine at market value . Is he correct ? Support your answer with reason . |
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Answer» ₹467000 is the CORRECT answer Explanation: Mark as brainleist and follow me and THANKS |
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| 42. |
Under the double account system parliamentary expenses is shown in |
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Answer» Answer: The balance of Receipts and Expenditure on Capital Account is carried down and shown in the respective side of the General Balance Sheet or, the total of TWO sides of this account are shown on both sides of the General Balance Sheet. It is generally adopted by public UTILITY concerns FORMED under special acts of parliament. As INDICATED earlier, under this system, the balance sheet is bifurcated in to two parts viz., (i) receipts and expenditure on capital a/c and (II) general balance sheet. |
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| 43. |
Surajmukhi and gulab started partnership business on April 1,2017 with capital of ₹ 2,50,000and 1,50,000 respectively. On October 1,2017 they decided that their capital should be ₹2,00, 000 each. The necessary adjustments in the capital are made by introducing Or withdrawing cash. Interset on capital is to be allowed @ 10 p.a. calculate interset on capital as on March 31,2018 |
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Answer» shnccnnv Explanation: |
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| 44. |
A,B,C,D and E are partner in 5:4:3:2:1. D and E died in an accident. Goodwill of the firm is 150000. New ratio of A,B,C is 4:6:5. Give journal entries |
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Answer» REFER to the ATTACHMENT: HOPE you are helped |
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| 45. |
(Part-1)4. A and B are partners in a firm sharing profits in the ratio of 3 : 2. On 1st January, 2020, theposition of the business is as follows:BALANCE SHEET6Tiety is3200intoLlabilitiesAssets₹Goodwill5,00030,000 Stock19,00025,000 Plant and Machinery25,000Sindy Creditors10,000 Debtors20,000General Reserve5.000 Less : Provision for Doubtfuldebts1,000 19,000Cash2,00070,00070,000On this date, C agrees to join the business on the following conditions:(1) He will introduce *20,000 as his capital and pay 10,000 to the partners as premiumfor goodwill. The new profit sharing ratio is 2:1:1 for A, B and C respectively.(i) A revaluation of the assets of the firm will be made by reducing plant and machineryto 22,000 ; Stock is to be reduced by 2.000 and create a provision for bad anddoubtful debts at 6% on debtors.Prepare revaluation A/c, capital accounts and give the new Balance Sheet.lance4:3aring |
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Answer» Answer: A and B are partners in a firm sharing profits in the ratio of 3 : 2. On 1st JANUARY, 2020, the position of the business is as follows: BALANCE SHEET 6 Tiety is 3200 into Llabilities Assets ₹ 5,000 30,000 Stock 19,000 25,000 Plant and Machinery 25,000 Sindy Creditors 10,000 Debtors 20,000 General Reserve 5.000 Less : Provision for Doubtful debts 1,000 19,000 Cash 2,000 70,000 70,000 On this date, C AGREES to join the business on the following conditions: (1) He will introduce *20,000 as his capital and pay 10,000 to the partners as premium for goodwill. The new profit sharing ratio is 2:1:1 for A, B and C respectively. (i) A REVALUATION of the assets of the firm will be made by reducing plant and machinery to 22,000 ; Stock is to be reduced by 2.000 and create a provision for bad and doubtful debts at 6% on debtors. Prepare revaluation A/c, capital accounts and give the new Balance Sheet. lance 4:3 aring |
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| 46. |
Bank balance journal entry |
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Answer» Explanation: Bank a/c. DR. To cash a/c. |
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| 47. |
Guy fastly guys please in telugu |
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విజ్ఞానం తోనే వికసించు జగత్తు. పంచే కొలది పెరిగుతుంది విజ్ఞానం. విజ్ఞానాన్ని ఉపయోగించి ఒక క్రమ పద్ధతి ప్రకారం తయారు చేసుకున్న కచ్చితమైన ఫలితాలను శాస్త్రం అంటారు. సైన్స్ అండ్ నాలెడ్జ్ అనగా శాస్త్రం, జ్ఞానంల కలయికతో ఏర్పడినదే విజ్ఞానం. |
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John sold goods for 18000 Rs to don on 1 April on The same day don accepted drawn upon him by John fo three months don paid bill on 4 may 2018 and was allowed to rebate 5% annum show the journal entries of John and don |
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Answer» updated Elijah 8hill USE u3hehbehe7 3ij3ue73u3hru3uu3 3PM hbe8 for Jeremy Jeremy janhavi URUGUAY RUDE 3janhavi |
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Bad Debts and Bad Debts Recovered5. Pass Journal entries for the following transactions:2020April1 Mohan is declared insolvent. Received first and final dividend from his official Receiver 50 paisein a rupee against a debt of 5,000April 28,000 due from Ramesh is not recoverableApril 3 Shyam, who owed 15,000 became insolvent and 50% is received from his estateApril 4 Received 10,000 in cash from Sohan for bad debts written off last year |
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Answer» Answer: PASS JOURNAL entries for the following ... 2020. April 1 Mohan is declared insolvent. Received first and final dividend from his OFFICIAL Receiver 50 paise in a rupee against ... |
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43. A and B are partners sharing profits in the ratio of 2 : 3. On 1st January, 2020 they admittedC into partnership. C agreed to contribute * 50,000 as his capital. A, B and C agree to shareprofits and losses in the ratio of 2 : 3:3 respectively. The Balance Sheet of A and B as on31st December, 2019 was as under :BALANCE SHEETLiabilitiesAssets₹Sundry Creditors50,000 Cash at Bank6,250Capital AccountsStock in Hand50,000A62,500Debtors31,250B37,500 1,00,000Plant25,000Premises37,5001,50,0001,50,000They agreed to revalue the assets as under:Stock on hand * 45,000 ; Plant * 18,000 ; Premises * 50,000 ; a provision5% fordoubtful debts is to be made. C agrees to transfer * 15,000 to A's and B's capital accountsfor goodwill from his capital account in 2:3.Pass necessary Journal Entries, prepare revaluation A/c, capital accounts of A, B and C anda revised Balance Sheet. |
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