Answer for question no 8

Answer for question no 8 the firm. Rekha surrenders 114th of hew shale, Sunna and 1/5th oihershare in favour oi Samiksha. Eind new ratio. What is the main source of income iOr a Non Pi'0iit What is meant by Employee Stock Opuon Hani 6. Why is goodwill considered as an "Intangible Asset" but nota "Fictitious Asset"? 1 7. X. Y and Z are partners sharing profits in the ratio of Their capitals as on 1st April, 2017 were t50,OOO, e 30,000 and C20.OOO respectively, A1 the end of the year ending 31st March, 2018 it was found out that interest on capitals@ p.a.. salaries to X, 500 per month and Z I ,000per month were not adjusted from the profits. Show adjusting entry to be made in the next year for above adjustments. 8. From the following information, calculate amount of subscriptions outstanding for the year ended 31st March, 2018: A club has 200 members each paying an annual subscription of 0,000. The Receipts and payments Account for the year showed a sum of e 3 as subscriptions received. 100 members paid their subscriptions for 2018-19 and 2019-20 along with 2017-18. 50 members paid the amount ofsubscription for the current year in 2016-17 itself. 9. ABCLtd. issued e ; Debentures of e 100 each @ 05eachtoberedeemedasfoIlows: 1st year: Nil; 2nd year : Nil; 3rd year: e ; 4th year : Show the Discount on Issue of Debentures Account for the period of 4 years in the books of the Company. 10. Prashant Ltd., purchased assets worth and took over the liabilities(creditors) oft40,000 of Mahesh Ltd. for a purchase consideration of Prashant Ltd. paid half the amount by cheque and balance was settled by issuing Debentures of 100 each at a premium of 10%.Pass necessary entries in the books of Prashant Ltd. II. A, B, C and D were partners sharing profits in the ratio of D retired and his share was acquired by A and B equally. Goodwill was valued at 3 year's purchase of average profits of last 4