10977 + Interview Questions in Secondary School in Accountancy Page 98 InterviewSolution

4851.	Ram, Mohan and Sohan were partners sharing profits and losses in the ratio of 5 : 3 : 2. On 31stMarch,2017 Balance Sheet was as under.[4]Liabilities`Assets`Capital A/csLand1,25,000Ram1,50,000Patents30,000Mohan 1,25,000Machinery1,50,000Sohan 75,0003,50,000Stock1,90,000Creditors1,55,000Cash at Bank40,000Workmen’s CompensationReserve30,000Total5,35,0005,35,000Sohan died on 1stAugust, 2017. It was agreed that :1.Goodwill of the firm is to be valued at`1,75,000.2.Machinery be valued at`1,40,000; patents at`40,000; Land at`1,50,000 on this date.3.For the purpose of calculating Sohan’s share in the profit of 2017–18; theprofitshould be taken to haveaccrued on the same scale as in 2016–17, which were`75,000.Prepare Revaluation A/c andpass thejournalentries regarding good will and share of profitof Sohan
Answer» Explanation: debited to the profit and loss account is Rs. 900 (Rs. 1,200 – Rs. 300). ... sheet as on that date shall appear as follows : Trading ... The closing stock shall be shown on the assets side of the balance sheet as. 65 pages·266 KBy ltd. agreed to purchase the business of Rahim and Karim as on 31.03.2002 assets on the date vere Rs 800000 and lich to outsiders Rs 200000. For the purpuse of sales it is agreed that 90% of the cussets alone will be taken over at 10% discount liab are to be taken subject to rebate of 10%. Goodwill is deemed deemed worth Rs 42000. Ascertain Purchase considerationThese solutions for Cash Flow Statement are extremely POPULAR among ... Securities Premium Reserve, 2,60,000, 2,50,000 ... Note: Amount of Equity SHARE Capital has been increased due to the issue of ... Imagencert.nic.in › ncerts › leac206PDF Cash Flow Statement - ncert

4851.

Ram, Mohan and Sohan were partners sharing profits and losses in the ratio of 5 : 3 : 2. On 31stMarch,2017 Balance Sheet was as under.[4]Liabilities`Assets`Capital A/csLand1,25,000Ram1,50,000Patents30,000Mohan 1,25,000Machinery1,50,000Sohan 75,0003,50,000Stock1,90,000Creditors1,55,000Cash at Bank40,000Workmen’s CompensationReserve30,000Total5,35,0005,35,000Sohan died on 1stAugust, 2017. It was agreed that :1.Goodwill of the firm is to be valued at`1,75,000.2.Machinery be valued at`1,40,000; patents at`40,000; Land at`1,50,000 on this date.3.For the purpose of calculating Sohan’s share in the profit of 2017–18; theprofitshould be taken to haveaccrued on the same scale as in 2016–17, which were`75,000.Prepare Revaluation A/c andpass thejournalentries regarding good will and share of profitof Sohan

Answer»

Explanation:

debited to the profit and loss account is Rs. 900 (Rs. 1,200 – Rs. 300). ... sheet as on that date shall appear as follows : Trading ... The closing stock shall be shown on the assets side of the balance sheet as.

65 pages·266 KBy ltd. agreed to purchase the business of

Rahim and Karim as on 31.03.2002

assets on the date vere Rs 800000 and lich to

outsiders Rs 200000. For the purpuse of sales it

is agreed that 90% of the cussets alone will

be taken over at 10% discount liab are to

be taken subject to rebate of 10%.

Goodwill is deemed

deemed worth Rs 42000. Ascertain

Purchase considerationThese solutions for Cash Flow Statement are extremely POPULAR among ... Securities Premium Reserve, 2,60,000, 2,50,000 ... Note: Amount of Equity SHARE Capital has been increased due to the issue of ...

Imagencert.nic.in › ncerts › leac206PDF

Cash Flow Statement - ncert

4878.	Absorption costing is used for
Answer» Absorption COSTING, sometimes called full absorption costing, is a managerial accounting method for CAPTURING all COSTS associated with manufacturing a particular PRODUCT. The direct and indirect costs, such as direct materials, direct labor, rent, and insurance, are ACCOUNTED for using this method.

Explore topic-wise InterviewSolutions in .

Prepare Trial Balance as on March 31,2018:Ledger Accounts₹Ledger₹Cost of goods soldOpening stockDebtorsCreditorsFixed Assets75,00030,00030,00015,00025,000Closing stockSalesCapitalRent20,0001,00,00045,00010,000​

Current liabilities name​

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For all acts of the firm done, while he is a partnership of such a firm every partner will be ?​

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Absorption costs helps in​

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Prepare accounting equation from following and also prepare a balance raghu started business cash rs 150000 bought goods cash 80000 and on credit rs 40000 good cost rs 70000 sold for rs 12000 on credit paid for rent rs 2000 and for salaries rs 4000 gd costing rs 20000 sold for rs 18500 for cash​

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When a partner withdraws equal amount in the beginning of every month, for how many month interest on drawings be calculated???A) 66B) 12C) 72 D) 78​

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Please answer this question for me​

Bhiwandi wala started buisness with cash rs 50000 goods rs 20000 machinery rs 10000 bank balance rs 50000​

Purchase of Machinery will increase....... and will decrease ...​

Retification of error meaning​

A and B are partners in the ratio of 2:1. They admit C for ¼ share who contributes RS 3000 for hisshare of goodwill. The total value of the goodwill of the firm is .a) Rs.12000 b) Rs.3000 c) Rs.15000 d) Rs.9000​

5. Ascertain Gross Profit from the following information:₹2,00,0001,80,0008,50,00023,000Carriage on SalesOffice RentOpening StockClosing StockPurchasesCarriage on Purchases₹30,00058,00014,07,000SalesI DoF 514​

D Prepare a personal account of Machammanfrom the following into amation of the01-01 2018 Debit balance of chamman'sA/C Rs. 10.00010-01-2018 Bought goods from chammar's12-01-2018chamman brought goods fromUS RS. 3,00020-01-2018 Recolued cash fromchanman RS. 3,000​

How can a partner retire from the firm?​

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Page No.DateA, B and C Share the profit and loverin the chahu 3:27 D addrinatheHegetet(hard EnterthCalculate nero Profit Ratio​

The correct order of process of establishing the standards is

Difference between Revaluation Account and Realization Account ?​

Prepare Trial Balance as on March 31,2018:Ledger Accounts₹Ledger₹Cost of goods soldOpening stockDebtorsCreditorsFixed Assets75,00030,00030,00015,00025,000Closing stockSalesCapitalRent20,0001,00,00045,00010,000

Current liabilities name

Paid for transportation 430.

O From the tollowing compare current ratio:-1. Total assets Rs. 1.00.0002. Shesto dersunds R$ 80.000Non auront laites Rs. 20.000.# Non erant assets Rs. 50 000

For all acts of the firm done, while he is a partnership of such a firm every partner will be ?

Purchased goods for cash worth 3000plus CGST and SGST @ 6% each journalentry

Invested in share of Tata cotton mills Ltd and same paid for the cash rs 2000 journal entries

Absorption costs helps in

When a firm is dissolved, profit or loss on realization is shared by the partners .a) in the profit sharing ratio. b) equally c) In the ratio of their capital balances d) None of the above

Name any four current liabilities

Bills receivable dishonoured goes in which side of which account ?

Journal is the book of secondry entry true or false

10. The Trial Balance of Siva as on 31.12.2019: :Debtors 80,000Bad debts 1000Provision for Bad debts 2000You are required to provide for bad and doubtful debts at 5% on Debtors. Giveeffect on PAL Alc and Balance Sheet

Which of the following is an advantages of standard costing

Financial facts are recorded at

Prepare accounting equation from following and also prepare a balance raghu started business cash rs 150000 bought goods cash 80000 and on credit rs 40000 good cost rs 70000 sold for rs 12000 on credit paid for rent rs 2000 and for salaries rs 4000 gd costing rs 20000 sold for rs 18500 for cash

What balance of passbook means bank overdraft

SectTITSUTUOTTUTTO2 SECTION BQ 30 Balance Sheet is aAccountOps: A.StatementB.ScheduleC.All of the AboveD.Q30/50ck for Review

Absorption costing is used for

1. On which principle is provision for depreciation made?

When a partner withdraws equal amount in the beginning of every month, for how many month interest on drawings be calculated???A) 66B) 12C) 72 D) 78

When a firm is dissolved, profit or loss on realization is shared by the partners .a) in the profit sharing ratio. b) equally c) In the ratio of their capital balances d) None of the above.

Please answer this question for me

Bhiwandi wala started buisness with cash rs 50000 goods rs 20000 machinery rs 10000 bank balance rs 50000

Purchase of Machinery will increase....... and will decrease ...

Retification of error meaning

A and B are partners in the ratio of 2:1. They admit C for ¼ share who contributes RS 3000 for hisshare of goodwill. The total value of the goodwill of the firm is .a) Rs.12000 b) Rs.3000 c) Rs.15000 d) Rs.9000

5. Ascertain Gross Profit from the following information:₹2,00,0001,80,0008,50,00023,000Carriage on SalesOffice RentOpening StockClosing StockPurchasesCarriage on Purchases₹30,00058,00014,07,000SalesI DoF 514

D Prepare a personal account of Machammanfrom the following into amation of the01-01 2018 Debit balance of chamman'sA/C Rs. 10.00010-01-2018 Bought goods from chammar's12-01-2018chamman brought goods fromUS RS. 3,00020-01-2018 Recolued cash fromchanman RS. 3,000

How can a partner retire from the firm?

2000 PAID AS WAGES FOR INSTALLING A MACHINE SHOULD BE DEBIT TO1WAGES ACCOUNT2MACHINERY ACCOUNT3CAPITAL ACCOUNT4NONE OF THESE

Page No.DateA, B and C Share the profit and loverin the chahu 3:27 D addrinatheHegetet(hard EnterthCalculate nero Profit Ratio

Difference between Revaluation Account and Realization Account ?