Chander and Damini were partners in a firm sharing profits and losses equally. On 31st March, 2017 their Balance Sheet was as follows:
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Sanjana and Alok were partners in a firm sharing profits and losses in the ratio of 3 : 2. On 31st March, 2018 their Balance Sheet was as follows:
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Following is the Trial Balance of Karman on 31st March, 2025: Capital ₹ 8,00,000 Drawings ₹ 60,000
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Following is the extract from a Trial Balance: Machinery ₹ 4,00,000 Furniture ₹ 2,00,000
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Following balance of asset is taken from the books of Dhruv as on 1st April, 2024: Plant and Machinery – ₹ 12,00,000
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Net Profit of a firm is ₹ 1,05,000 before charing commission. Manager of the firm is to be paid commission of 5% on the Net Profit after charing his commission
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Give Journal entries for the following adjustments in final accounts: Salaries ₹ 5,000 are outstanding. Insuarnce amounting to ₹ 2,000 is paid in advance
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Ramesh valued stock at the end of the year at ₹ 1,00,000. Goods costing ₹ 5,000 were destroyed by fire during the accounting period
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Following extract is taken from the Trial Balance of Kabir as on 31st March, 2025: Purchases ₹ 4,50,000 Sales ₹ 3,75,000
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Mohan’s Profit & Loss Account shows net profit of ₹ 1,76,000 before charging commission of manager
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