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COMPUTER a/c. Dr.
To BANK a/c

answer for 11 question

journal entries

when shares issued at par

1) plant and machinery A/c  Dr   24,00,000

                  To X LTD     24,00,000

(being purchased plant and machinery and paid in consideration of equity shares )

2)X Ltd A/c  Dr    24,00,000

              To equity share capital   24,00,000

(being 24000 equity shares of 100 rs each issued at par )

when shares issues at premium

1) plant and machinery A/c   Dr     24,00,000

              To X ltd  A/c      24,00,000

(being purchased plant and machinery and paid in consideration of equity shares )

2) X Ltd A/c   Dr     2400000

              To securities premium A/c 4,00,000

               To Equity share capital A/c 20,00,000

(being 20000 equity shares of 100 rs each issued at premium at 20% )

working note :

calculation for shares issued at premium

no of shares issued = AMOUNT payable / issue price

=2400000/120

=20000

securities premium = 20000*20

=4,00,000

equity share = 20000*100

=20,00,000

Hope its useful ..!!!

Capitalization of earnings is a method of determining the VALUE of an organization by CALCULATING the net present value (NPV) of expected future profits or cash flows. Thecapitalization of earnings ESTIMATE is determined by taking the entity's futureearnings and DIVIDING them by thecapitalization RATE (cap rate).

HEY USER
. I THINK


An error of PRINCIPLE is a procedural error, meaning that the VALUE recorded was the correct value but PLACED incorrectly. ... An error of principle is different than failing to record the item in QUESTION (“error of omission”), or recording the wrong value in the correct account (“error of commission”).


I HOPE

To BALANCE b/d-4740 in CASH COLUMN
DR. SIDE

The ADVANCES RECEIVED should be POSTED in the CREDIT SIDE.

ANS: False

Reason: An annuity is a STREAM of CASH Flow

➖ ideal TIME is the time associated with waiting ARENA piece of machinery is not being used is CALLED ideal time

➖ overtime is the amount of time someone walks beyond normal WORKING hours is called over time

VARIABLE and Fixed Component using High-Low Method:

Variable Cost per hour = 52 L - 32 L

-------------------

8 L - 3 L

= 20 L

-------------

5 L

= 4 L per Hour

Fixed Cost =TOTAL Cost(High or Low) - Variable Cost

= 52 L - ( 8 L * 4 L) [here high components are taken]

= 52 L - 32 L

= 20 L

Variable Cost = T.C - F.C

= 52 - 20

= 32 L

journal entries

1)plant and machinery A/c  Dr   8,00,000

                 To mogan & co ltd  A/c     7,20,000

                  To cash A/c     A/c                   80,000

(being purchased plant and machinery and PAID in CONSIDERATION of EQUITY shares )

when shares issued at par

2 Mogan & co ltd A/c Dr     720000

              To equity share capital A/c            7,20,000

(being 72000 equity shares of 10 rs each issued at par )

when shares issues at premium

2) Mogan & co ltd A/c Dr 720000

              To securities premium A/c 120000

               To Equity share capital A/c 600000

(being 60000 equity shares of 10 rs each issued at premium at 20% )

working note :

calculation for shares issued at premium

no of shares issued = amount payable / issue price

=720000/12

=60000

securities premium = 600000*12

=120,000

equity share = 60000*10

=6,00,000

when shares issued at discount

2) Mogan & co ltd A/c Dr    720000

    discount on issue of share A/c  Dr  180000

               To Equity share capital A/c     540000

(being 90000 equity shares of 10 rs each issued at discount at 20% )

working note :

calculation for shares issued at discount

no of shares issued = amount payable / issue price

=720000/8

=90000

securities premium = 90000*2

=180,000

equity share = 90000*6

=5,40,000

Hope its useful ..!!

This transaction AFFECTS two accounts Cash account (cash is being drawn) ,Bank account (its being drawn from bank)..Cash and Bank accounts are Real accounts (all assets and Liabilities come under Real account)..



The THREE golden rules of ACCOUNTING are

Personal account - Debit the receiver ,credit the giver

Real account - Debit what comes in ,credit what goes out

Nominal account - Debit All expenses and losses, credit All incomes and gains

in contention with the above rules

Cash is coming in ..so it should be Debited..and Cash from bank is going out..so it should be CREDITED..


So the Journal Entry will be

Cash a/c Dr

To Bank a/c

(being cash withdrawn for office use)

Convention of CONSERVATISM

In accounting, the convention of conservatism, ALSO known as the doctrine of prudence, is a policy of anticipating possible future losses but not future gains. This policy tends to understate rather than overstate net ASSETS and net INCOME, and therefore lead companies to . When given a choice between several outcomes where the probabilities of occurrence are equally likely, you should RECOGNIZE that transaction resulting in the lower amount of profit, or at least the deferral of a profit

The system was not very same PREVIOUSLY but they MUST have maintained the records of what they've given and taken in return or if they've LEND anything to ANYONE

Under the accrual METHOD of accounting,income that is received in ADVANCE is a liability.Because the entity that received the money has not YET earned it and it has an OBLIGATION (a liability) to deliver the related GOODS or services in the future.

1. Financial Accounting

Financial accounting involves recording and classifying business transactions, and preparing and presenting financial statements to be used by internal and external users.

In the preparation of financial statements, strict compliance with generally accepted accounting principles or GAAP is observed. Financial accounting is primarily concerned in processing historical data.

2. Managerial Accounting

Managerial or management accounting focuses on providing information for use by internal users, the management. This branch deals with the needs of the management rather than strict compliance with generally accepted accounting principles.

Managerial accounting involves financial analysis, budgeting and forecasting, cost analysis, evaluation of business decisions, and similar areas.

3. Cost Accounting

Sometimes considered as a subset of management accounting, cost accounting refers to the recording, presentation, and analysis of manufacturing costs. Cost accounting is very useful in manufacturing businesses since they have the most complicated costing process.

Cost accountants also analyze actual and standard costs to help managers determine FUTURE courses of action regarding the company's operations.

4. Auditing

External auditing refers to the examination of financial statements by an INDEPENDENT party with the purpose of expressing an opinion as to fairness of presentation and compliance with GAAP. Internal auditing focuses on evaluating the adequacy of a company's internal control structure by testing segregation of duties, policies and procedures, degrees of authorization, and other controls implemented by management.

5. Tax Accounting

Tax accounting helps clients follow rules set by tax authorities. It includes tax planning and preparation of tax returns. It also involves determination of income tax and other taxes, tax advisory services such as ways to minimize taxes legally, evaluation of the consequences of tax decisions, and other tax-related matters.

6. Accounting Information Systems

Accounting information systems (AIS) involves the development, installation, implementation, and monitoring of accounting procedures and systems used in the accounting process. It includes the employment of business forms, accounting personnel direction, and software management.

7. Fiduciary Accounting

Fiduciary accounting involves handling of accounts managed by a PERSON entrusted with the custody and management of property of or for the BENEFIT of another person. Examples of fiduciary accounting INCLUDE trust accounting, receivership, and estate accounting.

8. Forensic Accounting

Forensic accounting involves court and litigation cases, fraud investigation, claims and dispute resolution, and other areas that involve legal matters. This is one of the popular trends in accounting today.

Given Future value=1696
Time= N =4
Rate of INTEREST Per annum= R = 4

we know that

Future value of ANNUITY =p [ (1+r)^n -1)/r)
1696 = p[(1+4/100)^4 -1)/ 4/100]
1696 = p[ (1 + 0.04)^4 - 1) / 0.04]
1696 = p[(1.04)^4-1)/0.04]
1696 = p[ 1.16985856 -1)/0.04]
1696 = p[0.16985856/0.04)
1696×0.04/0.16985856 =p
400=P is the periodic payment that should be MADE to clear the loan of 1696.

In the simplest of terms, BOOKKEEPING is responsible for the recording of FINANCIAL transactions WHEREAS accounting is responsible for INTERPRETING, classifying, analyzing, reporting, and summarizing the financial DATA.

Ok, let us start with 10% in the first year.

Final Amount after 1 year

= 10000 + 10000 * 10/100

= 10000 + 1000

= 11000

So, the return after 1 year will be 11000.

Now 2ND year, final amount will be,

= 11000 + 11000 * 12/100

= 11000 + 110 * 12

= 11000 + 1320

= 12,320

So, your final return after 2 years will be 12,320.

Hope it helps you!

Still have any doubts, feel free to ASK me.

This transaction affects two accounts sales account (Goods are Sold to anil) and cash account (cash is received against sales)..Sales account is a nominal account (All expenses losses Gains income come under it).. Cash account is a REAL account (all assets and Liabilities come under it)


The Three golden rules of accounting are

Personal account - Debit the receiver, CREDIT the giver

Real account - Debit what comes in, credit what goes out

Nominal account - Debit All expenses and losses, credit All incomes and gains

In CONTENTION with the above rules.
Sales is an income so it should be CREDITED and cash is coming in so It should be debited..

The Journal Entry will be..

Cash a/c DR 1000

To sales a/c 1000

(Being Goods Sold for cash)

This transaction affects two accounts PURCHASES account (Goods are Purchased) and Mr Star account (purchases are made on credit).. purchases account is a NOMINAL account (All EXPENSES losses Gains income come under it).. Mr Star account is a Personal account.


The Three golden rules of accounting are

Personal account - Debit the receiver, credit the giver

REAL account - Debit what comes in, credit what goes out

Nominal account - Debit All expenses and losses, credit All INCOMES and gains

In contention with the above rules.
purchases is an expense so it should be debited and Mr Star is the giver, so he should be credited ted..

The Journal Entry will be..

purchases a/c Dr xxxx

To Mr Star a/c xxxxx

(Being Goods Purchased from Mr Star on credit)

To , CASH. 1OO. By CAPITAL. 200

For CREDIT -

GOPAL A/c.. DR
To sales A/C

for cash -

cash A/c.. Dr
To sales A/C

HOPE it HELPS you

The price elasticity is 2.5 IE. the demand is ELASTIC demand..

ie 10/40=25%= % change in qty demanded
25/10= 2.5

It may be noted that APPLICATION money RECEIVED is treated as DEPOSIT money. It cannot be DIRECTLY transferred to 'share capital A/c'

Hope this helps you

When you purchase goods ...and by default or MANY reasons it's dispute .or ..broke ...then a coustomer who buy from you ...he RETURNED the goods or product...to you ....&2000 goods were already SOLD ...from....that...OK.
I hope you will understand...
pls mark as brainleast
thank you

If the Closing stock is undervalued by 10000 and OPENING stock is over valued by 10000.. Then the profit will be undervalued by 20000..

LETS GO by an example...

opening stock=100000
closing stock = 200000

Then profit will be = 200000 - 100000= 100000

..if closing stock is undervalued by 10000 and opening stock is overvalued by 10000.. then.

opening stock= 110000
closing stock= 190000

profit= 190000 - 110000 = 80000


As u can see difference in profits 100000 and 80000 above..so if the Closing stock is undervalued by 10000 and opening stock is overvalued by 10000..then the profit will be undervalued by 20000 or the profit will DECREASE by 20000

Because it is understood by the computer EASILY as it is the first ONE in only NUMBER 0 and 1

Fixation of Selling Prices
Key Factor
Make or Buy Decision
Selection of a Suitable PRODUCT Mix
Effect of Change in SALES Price
Maintaining a Desired Level of Profits
Alternative METHODS of Production
Cost Indifferent Point
Diversification of Products
Suspending Activities
Alternative Course of Action

if my answer is right
thn plss rate it as brainliest

200000*1.5

Goodwill =300000

Receipt is almost the usual NAME as BILL and the AMOUNT PAID for it is Payment

let us take an example to solve this question

assume

closing stock = 50000

opening stock = 30000

Then profit = closing stock - opening stock

= 50000-30000

=20000

as per statement if closing stock undervalued by 10000

then EFFECT will be

50000-10000 = 40000

opening stock overvalued by 1000

then the effect will be

30000+1000= 31000

now new profit = closing stock - opening stock

=40000-31000

=9000

therefore from our example its clearly known that profit has been REDUCED .

so ,if Closing stock undervalued by 10000 and opening stock up by 1000, profit will be reduced by 11000(OLD profit - new profit ie, 20000-9000)

Hope u UNDERSTOOD and useful..!!

repairs and maintenance CHARGES is the indirect expenses

repairs and maintenance COMES under nominal ACCOUNT

THEREFOR repairs and maintenance will be disclosed in profit and loss account in the FINAL account preparation .

repairs and maintenance will be debited to profit and loss account .

Hope its useful..!!

Heya...

in ACCOUNTING The procedure for selling shares is displayed.

Two TYPES of shares are EQUITY and PREFERENCE shares

It is PROFITABLE for U!!

Given Profit/Earnings after tax and interest = 108000

8% debentures WORTH 250000..so interest amount will be [email protected]% = 20000=fixed interest charges

Rate of INCOME tax =40%

LET profit before interest and tax = x

then Profit after interest and tax = 108000

((x-20000)- 40%(x-20000) = 108000
(x-20000)( 1 - 0.4) = 108000
(x-20000) = 108000/0.6
x-20000 =180000
x=180000+20000
x= profit before interest and tax= 200000

We know that Debt service RATIO = profit before interest and tax/fixed interest charges

200000/20000 = 10

Debt service provides us an information about the availability of cash flows to meet debt payments..

ideal ratio is 1.33...here in this question its 10..so the performance of the company is Excellent

Two Gentlemen of Verona doesn't appear to have much MERIT. The plot is UNLIKELY, even for a comedy; the motivations of the characters — Proteus, in particular — are so mercurial that an audience finds them hard to accept; and, finally, the ending seems absurdly unexpected, not so much through design, it seems, as through a desire to have done with the plot in a conventional and "satisfactorily" happy manner. SEVERAL Shakespearean critics take Shakespeare to task for his "uncertainty of metrical expression," but this matter seems to deal more with Shakespeare's poetics than with his sense of DRAMA and comedy.

Once there was a KING who was mercilessly killed. After he was killed he haunted his house forever.

The generations then took care of the PALACE but no one dared to gain their right as the king.

It was said that the king would LIVE in the body of the person who BECAME the king.

Before giving the final solution or name to the findings, a scientist must take approval from COMPETENT AUTHORITIES to ENSURE that he is going in the right direction.

It gradually ENHANCES the reliability of the scientist’s finding as per the scientific standards.

If it is reviewed and told to be alright by other scientists then this scientist seems to go to the right direction.