Login
Subject: Accountancy, asked on 9/8/17

Please answer this ques as soon as possible

Subject: Accountancy, asked on 9/8/17

Please answer this ques as soon as possible

Subject: Accountancy, asked on 6/8/17

PLEASE CHECK THE ANSWER

Subject: Accountancy, asked on 5/8/17

Please Give Journal Entries

Subject: Accountancy, asked on 20/7/17

Dear Experts , Please Explain This Point Given In One Of The Question's Adjustment  : Y took Over part of Stock at rs 4,000 (being 20 + less than the book value ). Balance Stock Realised 50+ . Here x and Y are Partners and value of stock Given In Balance sheet is 15,000. Also Please explain what will be the effect of this On Various Ledger A+c's

Subject: Accountancy, asked on 19/7/17

List of Journal Entries used in Dissolution of partnership firm.

Subject: Accountancy, asked on 19/7/17

It is given that the Cash/Bank balace and Partners Capital balance will not be transferred to the RealisationA/ c but in stage 2 it is transferred to realization A/c. Cloud you plz explain.

Subject: Accountancy, asked on 9/7/17

Bale loan on liability side is 300. 1
Bale Loan/3000/
Bale agreed to accept  rs 2500 in full settlement of his loan.Show it treatment in realisation a/c?

Subject: Accountancy, asked on 9/7/17

8 mark question pass the necesaary journal entries on dissolution (i)x took over investments at a value of 190000(book value 200000) (ii)cash realized was freehold property 900000,sundry debtors 90000,stock 140000(book value freehold 800000 debtora 100000 stock 150000) (iii)creditors where paid at a discount of 5+(book value 200000) (iv)expense of realisation came to 20000

Subject: Accountancy, asked on 5/7/17


The following is the balance Sheet of Anu and Babu as on 31st December, 2003:
Liablities Rs Assets Rs.
Creditors 30000 Cash 8000
Bills Payable 8000 Debtors                                                                    20000  
Investment Flucutation Reserves 1000 Lesss: Provision for doubtful debts               2000 18000
Mrs. Anu's Loan 5000 Stock 5000
CMrs. Babu 's Loan 10000 Investments 10000
General Reserve 10000 Buildings  15000
    Plant 20000
Capital   Goodwill 4000
Anu  10000 Advertisement Suspense 3500
Babu 10000 Bank 500
1      
  84000   84000


  The firm was dissolved on 31st December 2003 on the following terms:      
  1. Anu Promised to pay Mrs Anu’s loan and took away stock at Rs. 4,000
  2. Babu took away half of the investments at 10% discount.
  3. Debtors realized Rs. 19,000
 
  1. Creditors and bills payable were due on an average basis of one month after 31st December, but they were paid immediately on 31stDecember at 6% discount, p.a.
 
  1. Plant realized Rs. 25,000, building Rs. 40,000, goodwill Rs. 6,000 and remaining investments at Rs. 4,500.
 
  1. There was an old typewriter in the firm which had been written off completely from the books, it was estimated to realize Rs. 300, and it was taken away by Babu at this estimated price.
 
You are required to prepare the Realisation Account, Capital Account of Partners and Bank account.
 

Subject: Accountancy, asked on 5/7/17

 Pass necessary journal entries for the following transaction at the time of dissolution of the firm.
a. Loan of Rs. 10,000 advanced by a partner Mr. Abu was settled at Rs. 9,000.
b. Undistributed balance of General Reserve was Rs. 30,000. The firm has three partners, Abu, Balu and Chinu.
c. Balu to bear realisation expenses for which he will get Rs. 2,000. The actual expenses paid by him Rs. 1,600.
d. Stock worth Rs. 20,000 was taken over by a partner Chinu for Rs. 14,000.

Subject: Accountancy, asked on 30/6/17

 2. Ashok, Babu and Chetan are in partnership sharing profit in the proportion of 1/2, 1/3, 1/6 respectively. They dissolve the partnership of the December 31, 2006, when the balance sheet of the firm as under:
 
  Balance Sheet of Ashok, Babu and Chetan as on December 31, 2006    Liabilities Amount
Rs Assets Amount
Rs Sundry Creditors 20,000 Bank 7,500 Bills payable 25,500 Sundry Debtors 58,000 Babu’s loan 30,000 Stock 39,500 Capital’s:   Machinery 48,000 Ashok 70,000   Investment 42,000 Babu 55,000   Freehold Property 50,500 Chetan 27,000 1,52,000     Current Accounts :       Ashok 10,000       Babu 5,000       Chetan 3,000 18,000         2,45,500   2,45,500                        The Machinery was taken over by Babu for Rs 45,000, Ashok took over the Investment for Rs 40,000 and Freehold property took over by Chetan at Rs 55,000. The remaining Assets realised as follows: Sundry Debtors Rs 56,500 and Stock Rs 36,500. Sundry Creditors were settled at discount of 7%. AOffice computer, not shown in the books of Accounts realised Rs 9,000. Realisation expenses amounted to Rs 3,000.
Prepare Realisation Account, Partners Capital Account, Bank Account.

Subject: Accountancy, asked on 28/6/17

It is said that while transferring assets and liabilities in realisation account it is written off as opposite entry is passed but while transferring in p/l or trading account also we pass the opposite entry . Is that also means we are writing off? What is the difference between these two? Clarify

Subject: Accountancy, asked on 28/6/17

If the debtors are taken over by the partners then do we debit in partners capital account?or his personal account because dr means that amount partner has to give to the firm

Subject: Accountancy, asked on 25/6/17

In realisation account we record assets at book value.whether the book value is cost price or it can be revised value while preparing revised balance sheet at the time of reconstitution?

23456
What are you looking for?