CBSE Class-12 Accountancy: Questions 70 - 77 of 209

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Question number: 70

» Accounting for Partnership Firms » Reconstitution and Dissolution » Admission of a Partner

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Why is it necessary to revalue assets and reassess liabilities of a firm in case of admission of a new partner?

Question number: 71

» Accounting for Partnership Firms » Reconstitution and Dissolution » Retirement and Death of a Partner

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State the ratio in which profit or loss on revaluation will be shared by the partners when a partner retires. ;

Question number: 72

» Analysis of Financial Statements » Tools for Financial Statement Analysis

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From the following information prepare a comparative Income Statement of Victor Ltd:

Information to prepare a comparative Income Statement of Victor Ltd:

information is given of two years

Particulars

2006 Rs.

2007 Rs.

Sales

15, 00, 000

18, 00, 000

Cost of goods sold

11, 00, 000

14, 00, 000

20 % of Gross Profit

125 % of Gross Profit

Income Tax

50%

50%

Question number: 73

» Accounting for Partnership Firms » Not-for-Profit Organizations

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Explain accounting treatment of ‘Life Membership Fees in case of NPO?

Question number: 74

» Accounting for Partnership Firms » Fixed Versus Fluctuating Capital Accounts

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If the partners capital accounts are fixed, where will you record the following items:

i) Salary to a partners

ii) Drawing by a partners

iii) Interest on capital and

iv) Share of profit earned by a partner?

Question number: 75

» Accounting for Partnership Firms » Reconstitution and Dissolution » Admission of a Partner

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Enumeration the matters that need adjustment at the time of admission of a new Partner.

Question number: 76

» Accounting for Partnership Firms » Partnership

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What is the minimum and maximum number of partners in all partnership.

Question number: 77

» Accounting for Partnership Firms » Partnership

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When does the Joint Life Policy become due?

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