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Chandni Arya
Subject: Accountancy
, asked 34 minutes ago
Why do debentures are called ?Debt instruments? ?
Answer
1
Harshada
Subject: Accountancy
, asked 9 hours, 10 minutes ago
can you answer please
Answer
1
Harshada
Subject: Accountancy
, asked 9 hours, 22 minutes ago
Amar, Bony and Chetan are partners sharing profits in the ratio 1:2:3. Chetan retires and his capital, after making adjustment for reserves and gain (profit) on revaluation is ₹2,20,000. Amar and Bony agreed to pay him ₹ 2,50,000 in full settlement of his claim. Pass necessary Journal entry for the treatment of goodwill if new profit – sharing ratio is decided at 1:3. Show workings clearly.
Answer
1
Harshada
Subject: Accountancy
, asked 10 hours, 6 minutes ago
A, B and C were fruit merchants, sharing profits in the ratio of 2:1:2. B died on 31.3.2013. It was decided to give him share of profit on turnover basis taking into consideration sales figure of 2012. Sales for the year 2012 were ₹ 50,00,000 and Profits for the same period was ₹ 5,00,000. However, Sales for the year 2013 till 31.3.2013 were ₹ 10,00,000.
i) Calculate B’s share of profit.
ii) Pass journal entry to record B’s share in profit.
Answer
2
Harshada
Subject: Accountancy
, asked 10 hours, 9 minutes ago
Can u ans this
Answer
1
Vaibhav Mishra
Subject: Accountancy
, asked 1 day, 3 hours ago
can you please explain me 1 & 2 entries
(debts) in revaluation account ??
Answer
1
Ritesh
Subject: Accountancy
, asked 2 days, 1 hour ago
Zack Ltd. issued 10,000, 10% debentures of ?100 each at premium of ?20 each payable as:
?30 on application, ?50 on allotment and balance on first and final call. Application were
received for 12,000 debentures. Company decided to refund the application of 1,000
debenture and the remaining debentures were allotted on pro-rata basis. Excess money
received has been utilised towards allotment. Pass the necessary Journal entry of
Application.
Answer
1
Ritesh
Subject: Accountancy
, asked 2 days, 20 hours ago
What is the treatment of the following in an NPO:
(i) Entrance fee and
(ii) Life Membership fee
Answer
3
Ritesh
Subject: Accountancy
, asked 2 days, 21 hours ago
AMA Ltd. purchased asset of Nimbus Pvt. Ltd. for 8,40,000 and took over liabilities of
80,000 for an agreed value of ?8,00,000. AMA Ltd. issued 12% debentures of ?100 each at
a premium of 25%. Calculate the number of debentures issued.
A. 8,000
B. 6,400
C. 7,360
D. 9,200
Answer
1
Ritesh
Subject: Accountancy
, asked 2 days, 21 hours ago
Calculate the amount of medicines consumed during the year:
Particulars April 01, 2019 (?) March 31, 2020 (?)
Stock of Medicines 3,000 4,200
Creditors of Medicines 1,500 1,000
Payment made for medicines during the year amounted to ?4,500. There was no cash
purchase. All purchases were made on credit.
Answer
1
Ritesh
Subject: Accountancy
, asked 2 days, 21 hours ago
Zack Ltd. issued 10,000, 10% debentures of ?100 each at premium of ?20 each payable as:
?30 on application, ?50 on allotment and balance on first and final call. Application were
received for 12,000 debentures. Company decided to refund the application of 1,000
debenture and the remaining debentures were allotted on pro-rata basis. Excess money
received has been utilised towards allotment. Pass the necessary Journal entry of
Application.
Answer
1
Ritesh
Subject: Accountancy
, asked 2 days, 21 hours ago
) Nisha, Myrah and Shilpa were partners for 2 : 1 : 1. Shipla died on July 01, 2021. Profits
for last three years were ?20,000, ?35,000 and ?17,000 respectively. The books were
closed on March 31. Pass Journal entry for Shilpa?s profit share till his death.
(b) Zo, Mo and Lo were partners for 2 : 1 : 1. Lo died on July 01, 2020. Sales for the
previous year was ?60,000 and profits were ?30,000. Sales from April 01, 2020 to July
01, 2021 amounted to ?25,000. Ascertain Lo?s share of profit and pass Journal entry.
Answer
1
Ritesh
Subject: Accountancy
, asked 2 days, 21 hours ago
Kumar Club has maintained ?25,000 in its Prize Fund. There exists a Prize Fund Investment
of ? 10,000 and interest received on these was ? 1,000. During the year, prizes
worth ?32,000 were distributed. Calculate the amount of Prize Fund to be shown in either I
& E A/c or in the Balance Sheet.
Answer
1
Ritesh
Subject: Accountancy
, asked 2 days, 21 hours ago
Realisation expenses ?12000 born by the partner Manisha. These expenses were paid by
Manisha by drawing cash from the firm. She was allowed commission ?10,000 for process
of dissolution.
Pass Journal entry.
Answer
1
Devansh Jain
Subject: Accountancy
, asked 2 days, 22 hours ago
What will be ans for 5th
Answer
1
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Next
What are you looking for?
i) Calculate B’s share of profit.
ii) Pass journal entry to record B’s share in profit.
(debts) in revaluation account ??
?30 on application, ?50 on allotment and balance on first and final call. Application were
received for 12,000 debentures. Company decided to refund the application of 1,000
debenture and the remaining debentures were allotted on pro-rata basis. Excess money
received has been utilised towards allotment. Pass the necessary Journal entry of
Application.
(i) Entrance fee and
(ii) Life Membership fee
80,000 for an agreed value of ?8,00,000. AMA Ltd. issued 12% debentures of ?100 each at
a premium of 25%. Calculate the number of debentures issued.
A. 8,000
B. 6,400
C. 7,360
D. 9,200
Particulars April 01, 2019 (?) March 31, 2020 (?)
Stock of Medicines 3,000 4,200
Creditors of Medicines 1,500 1,000
Payment made for medicines during the year amounted to ?4,500. There was no cash
purchase. All purchases were made on credit.
?30 on application, ?50 on allotment and balance on first and final call. Application were
received for 12,000 debentures. Company decided to refund the application of 1,000
debenture and the remaining debentures were allotted on pro-rata basis. Excess money
received has been utilised towards allotment. Pass the necessary Journal entry of
Application.
for last three years were ?20,000, ?35,000 and ?17,000 respectively. The books were
closed on March 31. Pass Journal entry for Shilpa?s profit share till his death.
(b) Zo, Mo and Lo were partners for 2 : 1 : 1. Lo died on July 01, 2020. Sales for the
previous year was ?60,000 and profits were ?30,000. Sales from April 01, 2020 to July
01, 2021 amounted to ?25,000. Ascertain Lo?s share of profit and pass Journal entry.
of ? 10,000 and interest received on these was ? 1,000. During the year, prizes
worth ?32,000 were distributed. Calculate the amount of Prize Fund to be shown in either I
& E A/c or in the Balance Sheet.
Manisha by drawing cash from the firm. She was allowed commission ?10,000 for process
of dissolution.
Pass Journal entry.