Scribd Logo
Upload

Welcome to Scribd!

  • 25 views

    Xii Ca Model Key

    Uploaded by

    apmmontage112
    1. The document contains accounting entries and calculations related to partnership accounts including revaluation of assets, interest calculations, appropriation of profit among partners, and admission/retirement of partners. 2. It provides the loan account details for 3 years with opening and closing balances along with cash/interest transactions. 3. The final section shows the realisation account for a partnership firm upon dissolution with distribution of assets and amounts payable to partners and creditors.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Xii Ca Model Key

    Uploaded by

    apmmontage112
    25 views3 pages
    1. The document contains accounting entries and calculations related to partnership accounts including revaluation of assets, interest calculations, appropriation of profit among partners, and admission/retirement of partners. 2. It provides the loan account details for 3 years with opening and closing balances along with cash/interest transactions. 3. The final section shows the realisation account for a partnership firm upon dissolution with distribution of assets and amounts payable to partners and creditors.

    Original Title

    XII CA MODEL KEY

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    1. The document contains accounting entries and calculations related to partnership accounts including revaluation of assets, interest calculations, appropriation of profit among partners, and admission/retirement of partners. 2. It provides the loan account details for 3 years with opening and closing balances along with cash/interest transactions. 3. The final section shows the realisation account for a partnership firm upon dissolution with distribution of assets and amounts payable to partners and creditors.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    25 views3 pages

    Xii Ca Model Key

    Uploaded by

    apmmontage112
    1. The document contains accounting entries and calculations related to partnership accounts including revaluation of assets, interest calculations, appropriation of profit among partners, and admission/retirement of partners. 2. It provides the loan account details for 3 years with opening and closing balances along with cash/interest transactions. 3. The final section shows the realisation account for a partnership firm upon dissolution with distribution of assets and amounts payable to partners and creditors.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    You are on page 1of 3

    1 6.

    5
    2 Credited to revaluation a/c
    3 1:1
    4 Loan A/c

    5 Any Two differences


    6 Capitalised Value to Avg Profit = 30,000 x 100/10 = 300,000
    Goodwill = Capitalised Value of Avg Profit - Capital Employed
    = 300,000 - 200,000 = 100,000
    7 a) Revaluation a/c Dr 2000
    To Machinery A/c 2000
    b) Provision for Doubtful Debts 500
    To Revaluation a/c 500
    8 a) Business becomes illegal
    b) Death/Involvancy of all partners etc...

    9 Date Amount No. MonthsInterest


    01-04-2023 16000 9 840 1120
    30-06-2023 15000 6 525 1050
    31-10-2023 9000 2 105 630
    Total Interest 1470
    10
    General Reserve A/c Dr 50000
    To Nandhu's Capital 30000
    To Sindhu's Capital 20000
    Nandhu's Capital Dr 12000
    Sindhu's Capital Dr 8000
    To Profit & Loss A/c 20000
    11
    LOAN A/c
    Date Particulars Amount Date Particulars Amount
    Dec-19 Cash 27800 Jan-19 Chanras Capit 60000
    Dec-19 Balance c/d 40000 Dec-19 Interest - 13% 7800
    67800 67800
    Dec-20 Cash 25200 Jan-20 Balance b/d 40000
    Dec-20 Balance c/d 20000 Dec-20 Interest - 13% 5200
    45200 45200
    Dec-21 Cash 22600 Jan-21 Balance b/d 20000
    Dec-21 Interest - 13% 2600
    22600 22600

    12 Any Three differences between Dissolution of partrship & firm

    13 Profit & Loss Appro A/c


    Interest on Capital Profit & Loss A/c 63000
    Raju - 7000 Interest on Drawings
    Saju - 4200 11200 Raju - 2,000
    Salary - Saju 36000 Saju - 3,000 5000
    Partners Capital A/c
    Raju - 12,480
    Saju - 8,320 20800
    68000 68000
    14
    a) Gaining Ratio = New Ratio - Old Ratio

    Maya's Gain = 3/5-2/5 = 1/5


    Roja's Gain = 2/5-1/5 = 1/5
    Gaining Ratio = 1:1

    b) Shobha's Share of Goodwill = 100,000 x 2/5 = 40000


    Maya's Capital a/c Dr 20000
    Roja's Capital a/c Dr 20000
    To Shobhas Capital A/c 40000
    Maya's Capital a/c Dr 20000
    Shobhas Capital a/c Dr 20000
    Roja's Capital a/c Dr 10000
    To Goodwill a/c 50000

    15 REVALUATION A/C
    Stock 2000 Land & Buildings 5200
    Provision for DD 800
    Outstanding Electricity b 1000
    Partners Capital a/c
    Anju - 1050
    Manju - 350 1400
    5200 5200

    Partner's Capital a/c


    Anju Manju Suja Anju Manju Suja
    Balance 30000 16000
    Cash 3750 1250 Cash 20000
    Reserve 3000 1000
    Goodwill 7500 2500
    Balance 37800 18600 20000 Revaluation a/c 1050 350
    41550 19850 20000 41550 19850 20000

    Balance Sheet
    Liabilities Amt Assets Amt
    Creditors 41500 Cash 51500
    O/s Electricity bill 1000 Bills Receivable 3000
    Capital Debtors [16,000-800] 15200
    Anju 37800 Stock [ 20,000-2000] 18000
    Manu 18600 Land & Buildings 31200
    Suja 20000
    118900 118900
    16
    REALISATION A/C
    Stock 12000 Creditors 8000
    Debtors 6000 Cash - Assets
    Furniture 4000 Plant & Mach 30,000
    Plant and Machinery 18000 Furniture 1,000
    Cash - Creditors 7200 Debtors 5,500
    Cash - Real Exp 2800 Stock 15,000 51500
    Partner's Capital /c Abu's Capital 5000
    Abu - 5800
    Babu -5800
    Cacko - 2900
    14500
    64500 64500

    Partner's Capital a/c


    Abu Babu Chacko Abu Babu Chacko
    Balance 20000 8000 4000
    Realisation 5000 General Reser 4000 4000 2000
    Realisation 5800 5800 2900

    Balance 24800 17800 8900


    29800 17800 8900 29800 17800 8900

    Cash A/c
    Amt Amt
    Balance 10000 Realisation - Crs 7200
    Realisation[Assets] 51500 Realisation - Exp 2800
    Partners Capital
    Abu 24800
    Babu 17800
    Chacko 8900
    61500 61500

    You might also like

    pFad - Phonifier reborn

    Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

    Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


    Alternative Proxies:

    Alternative Proxy

    pFad Proxy

    pFad v3 Proxy

    pFad v4 Proxy