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Category Accountancy Class 12th

Accountancy Class 12th 880 Questions

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A and B are partners sharing profits and losses in the ratio of 3 : 1. It was decided that with effect from 1st April, 2024 the profit sharing ratio will be 5 : 3

141 viewsAnurag Pathak Answered question July 16, 2024Accountancy Class 12th

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The following information relates to a partnership firm: (a) Profits/Losses for the last six years:

118 viewsAnurag Pathak Changed status to publish July 16, 2024Accountancy Class 12th

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The average profits of a firm is ₹ 48,000. The total assets of the firm are ₹ 8,00,000. Value of outside liabilities is ₹ 5,00,000. Average rate of return in the same business is 12%

127 viewsAnurag Pathak Answered question July 16, 2024Accountancy Class 12th

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Anupama, Purnima and Ruchika are partners in a business. Balances in their Capital and Current Accounts as on 31st March, 2023 were:

119 viewsAnurag Pathak Answered question July 16, 2024Accountancy Class 12th

0 Votes 1 Ans

The average profits of a firm is ₹ 48,000. The total assets of the firm are ₹ 8,00,000. Value of outside liabilities is ₹ 5,00,000. Average rate of return in the same business is 12%

109 viewsAnurag Pathak Changed status to publish July 16, 2024Accountancy Class 12th

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On April 1st 2024, an existing firm had assets of ₹ 5,00,000 including cash of ₹ 20,000. the firm had a General Reserve of ₹ 90,000, partner’s capital accounts showed a balance of ₹ 3,80,000 and creditors amounted to ₹ 30,000

165 viewsAnurag Pathak Answered question July 12, 2024Accountancy Class 12th

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A and B are partners. They admit C for 1/4th share in profits. For this purpose goodwill is to be valued at three year’s purchase of super profits.

170 viewsAnurag Pathak Answered question July 12, 2024Accountancy Class 12th

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Find out the capital employed from the following information: Normal rate of return: 12%

124 viewsAnurag Pathak Changed status to publish July 12, 2024Accountancy Class 12th

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The capital of the firm of Anuj and Benu is ₹ 10,00,000 and the market rate of interest is 15%. Annual salary to the partners is ₹ 60,000 each. The profit for the last three years were ₹ 2,80,000, ₹ 3,80,000 and ₹ 4,20,000

158 viewsAnurag Pathak Answered question July 12, 2024Accountancy Class 12th

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Capital invested in a firm is ₹ 3,00,000. Normal rate of return is 10%. Average profits of the firm are ₹ 41,000 (after an abnormal loss of ₹ 2,000). Calculate goodwill at five times the super profits

131 viewsAnurag Pathak Changed status to publish July 12, 2024Accountancy Class 12th

0 Votes 1 Ans

Kalpana and Kanika were partners in a firm sharing profits in 3 : 1 ratio. They admitted Karuna as a partner for 1/4th share in future profits. Karuna was to bring ₹ 60,000 for his capital. The Balance Sheet of Kalpana and Kanika as at 1st April, 2023, the date on which C was admitted, was:

6.01K viewsAnurag Pathak Changed status to publish July 12, 2024[CBSE] Admission of Partner [CBSE] TS Grewal Solutions Accountancy Class 12th

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Pratik, Nitish and Avinash are in partnership sharing profits equally. Avinash died on 30th June

742 viewsAnurag Pathak Changed status to publish July 12, 2024[ISC] Death of Partner

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Amit, Balan and Chander were partners in a firm sharing profits in the proportion of 1/2, 1/3 and 1/6 respectively. Chander retired on 1st April, 2014. The Balance Sheet of the firm on the date of Chander’s retirement was as follows:

3.72K viewsAnurag Pathak Changed status to publish July 6, 2024[CBSE] TS Grewal Solutions Accountancy Class 12th Retirement of Partner

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A, B and C were partners sharing profits in the ratio of 3 : 2 : 1. The firm closes its books on 31st March every year. B died on 30th June, 2022.

2.94K viewsAnurag Pathak Changed status to publish June 22, 2024[CBSE] Death of Partner [CBSE] TS Grewal Solutions

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Raman, Shiv and Mukesh were in partnership sharing profits and losses in the ratio of 3 : 2 : 1. Their Balance Sheet as at 31st March, 2023 was as follows:

365 viewsAnurag Pathak Answered question June 21, 2024[ISC] Dissolution (2023-24)

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Pawan and Arun are partners in a firm sharing profits and losses in the ratio of 3 : 2. They decided to dissolve their firm on 31st March, 2023, when their Balance Sheet was as follows

341 viewsAnurag Pathak Answered question June 21, 2024[ISC] Dissolution (2023-24)

0 Votes 1 Ans

Ankur Aditya and Pankaj were partners sharing profits and losses in the ratio of 2 : 2 : 1. On 1st April, 2022, their Balance Sheet was as follows:

338 viewsAnurag Pathak Answered question June 21, 2024[ISC] Dissolution (2023-24)

0 Votes 1 Ans

Nimrat and Deep are partners having capitals as on 1st April, 2023 as Nimrat – ₹ 4,80,000 and Deep as ₹ 1,00,000 (Debit)

433 viewsAnurag Pathak Answered question June 19, 2024[ISC] Fundamentals of Partnership

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Puneet and Tarun are partners sharing profits and losses in the ratio of 3 : 2. They admit Simran as a partner who acquires 2/7th from Puneet and 1/7th from Tarun as her share

397 viewsAnurag Pathak Answered question June 13, 2024[ISC] Admission of Partner

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Lalan and Balan were partners in a firm sharing profits in the ratio of 3:2. Their fixed capital on 1st April 2022 was: Lalan ₹ 10,00,000 and Balan ₹ 20,00,000

3.50K viewsAnurag Pathak Changed status to publish June 13, 2024[CBSE] Fundamentals of Partnership Firm Accountancy Class 12th

0 Votes 1 Ans

Raman and Daman are partners sharing profits in the ratio of 60 : 40 and for the last four years they have been getting annual salaries of ₹ 50,000 and ₹ 40,000 respectively

663 viewsAnurag Pathak Changed status to publish June 11, 2024[ISC] Goodwill [ISC} TS Grewal Solutions Accountancy Class 12th

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Read the following hypothetical text and answer the given questions on its basis. Profit for the year ended 31st March, 2023 of iPay (a payment processing start up) was ₹ 15,00,000 after accounting the following

189 viewsAnurag Pathak Changed status to publish June 11, 2024Cash Flow Statement

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Pradeep and Paresh partners in a firm decided to dissolve their partnership firm on 1st April, 2024. Pradeep was deputed to realise the assets and to pay off the liabilities

344 viewsAnurag Pathak Answered question June 10, 2024[CBSE] Dissolution of Partner

0 Votes 1 Ans

C, D and E were partners in a firm sharing profits in the ratio of 3 : 1 : 1. Their Balance Sheet as at 31st March, 2022 was as follows

304 viewsAnurag Pathak Answered question June 10, 2024[CBSE] Death of Partner

0 Votes 1 Ans

Trisha, Anisha and Rishika were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Their Balance sheet as at 31s March

491 viewsAnurag Pathak Changed status to publish June 10, 2024[CBSE] Death of Partner

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