CBSE Class-12 Accountancy: Questions 13 - 18 of 209

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Question number: 13

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

One Liner Question▾

Write in Brief

State the two financial rights acquired by a new Partner?

Question number: 14

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

Short Answer Question▾

Write in Short

State two differences between Revolution A/c and Memorandum Revolution A/c.

Question number: 15

» Cash Flow Statement

Short Answer Question▾

Write in Short

Give the objectives of Cash flow statement.

Question number: 16

» Accounting for Partnership Firms » Partnership

Short Answer Question▾

Write in Short

State any four contents of a partnership deed.

Question number: 17

» Accounting for Companies » Accounting for Share Capital » Accounting for Share Capital

Essay Question▾

Describe in Detail

Janata Ltd. invited application for issuing 70, 000 equity shares of Rs. 10 each at a premium of Rs. 2 per share. The amount was payable as follows:

On application Rs. 4 per share (including premium)

On allotment Rs. 3 per share

On first and final Balance

Applications for 1, 00, 000 shares were received. Applications for 10, 000 shares were rejected. Shares were allotted to the remaining applicants on pro-rata basis. Excess money received with applications were adjusted towards sums due on allotment. All calls were made and were duly received except first and final call on 700 shares allotted to Kanwar. His shares were forfeited.

The forfeited shares were re-issued for Rs. 77, 000 fully paid up.

Pass necessary journal entries for the books of the company for the above transactions.

Explanation

JOURNAL ENTRY IN THE BOOKS OF JANTA LTD.

entry related to issue of share, allotment and calls of it

No.

Particulars

L. F.

DR. Rs.

Cr. Rs

1

Bank A/c ……Dr.

4, 00, 000

To Share Application A/c

(Being application money received on 1, 00, 000 shares@Rs. 4 per… (242 more words) …

Question number: 18

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

One Liner Question▾

Write in Brief

In case of admission of a partner, in which ratio profits or loss on revaluation of assets and reassessment of liabilities shall be divided?

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